F. W. Olin Foundation

If the boys did not want control of the company to pass to the foundation on his death, they'd jolly well have to hustle up the money to buy back the shares.

The John M. Olin Foundation also shut down for reasons of preserving donor intent, though the organizations are unrelated.

[6] In the early 1990s, the board of the Olin Foundation began to worry about the perpetuation of donor intent in subsequent generations.

"We were concerned about how we were going to find people committed to continue the grant program, who wouldn't come in with their own agenda, their own baggage, and try to change things around," Milas said.

"[5] The board evaluated options, and decided to pursue an idea that Olin had suggested in the 1940s: starting a new college.