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BOLTON FOUNDATION

The BOLTON FOUNDATION, founded in 1952 in Cleveland by FANNY HANNA BOLTON (d. 1982), was based on the philosophy of HOWARD MELVILLE HANNA, SR., Bolton's grandfather. In 1904 he advocated generosity in PHILANTHROPY, but cautioned that "Thoughtless giving is more apt to be wicked and a curse, than a benefit." The Bolton Foundation primarily supported Cleveland hospitals and health services (see HOSPITALS AND HEALTH PLANNING), with some grants to secondary EDUCATION. In 1985 the foundation's assets stood at $4.4 million, with expenditures of over $200,000 for 30 grants. The founders' granddaughters dissolved the foundation in 1989 and created 2 new ones, the Bolton and Kenridge and the Elisha Bolton foundations.