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One of St. Louis' most generous charitable foundations may soon close its doors.
Trustees of the Spencer T. and Ann W. Olin Foundation are considering whether to shut down operations and disburse its remaining assets, according to Warren Shapleigh, foundation president. "It's very simple," Shapleigh said. "Sometime we're going to go out of business. Our plan is to disburse all of the money."
The Olin Foundation focuses on higher education, medical education and research, and health services and facilities. It also supports community needs in the metropolitan St. Louis area, giving to cultural, civic and welfare programs.
In October, the Olin Foundation faxed a response to a Business Journal Book of Lists questionnaire, stating that the foundation will terminate at the end of 2004. Shapleigh, however, said that information is incorrect and that the foundation is still in business. He declined to comment on a possible closure date, saying that the issue was up to the trustees to decide. He said the trustees will meet before the...