John M. Olin Foundation
John M. Olin Foundation was founded by John Merill Olin in 1953 from the profits of his successful chemical and munitions manufacturing business. It provides funding primarily for right-wing think tanks.
It was formerly managed by Michael Joyce who left to head the Bradley Foundation, currently is is headed by James Piereson.
William E. Simon is the long-time president and frequently talks about the foundations commitment to supporting the “counterintelligentsia.”
In 1994 assets for the foundation nearly tripled with the death of John M. Olin's late wife Evelyn who donated $94 million. Total Assets rose from $44 million to over $115 million.
The Foundation has decided to "put itself out of business" by the end of 2005 in line with the founders insistence that the foundation spend all of its assets within a generation of his death. He was concerned that the foundation may come under the control of someone who did not support his ideological underpinnings.
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Think Tanks Receiving Funding
- American Enterprise Institute
- Heritage Foundation
- Manhattan Institute for Public Policy Research
- Hoover Institute at Stanford University
- Palmer R. Chitester Fund
- Hudson Institute ($125,000 in 1993 and $300,000)
- Center for Individual Rights
- National Association of Scholars
- The New Criterion
- Philanthropy Roundtable
- Center for Equal Opportunity
The John M. Olin Foundation has also given large amounts of money to conservative groups at prestigious colleges and universities. Including the Federalist Society.
Universities Receiving Funding
The Foundation makes donations primarily to support the discipline of law and economics.
- Harvard Law School ($10 Million which is the largest in the schools 186 year History)
- Stanford Law School (8.3 Million [1])
- University of Chicago Law School
- Yale Law School
- University of Virginia School of Law
Publications Receiving Funding
- Collegiate Network
- National Interest
Individuals Recieving Funding
- Linda Chavez
- Irving Kristol
- Henry Manne
- Harvey Mansfield
- Charles Murray
- Michael Novak
- George Stigler
- Samuel Huntington
Professorships
- John M. Olin Professor Ernest van den Haag at Fordham University
- John M. Olin Professor George L. Priest at Yale Law School
Gun Controversy
The John M. Olin Foundation funded the John M. Olin Fellowship at University of Chicago. While serving in the position professor John Lott produced a study showing that relaxing concealed weapons laws can reduce crime. The study was attacked both for its methodoligical shortcomings but also its funding from the John M. Olin Fellowship and it's relationship with the Olin Corporation which owns Winchester Ammunition.