The Cole Foundation Inc.

The Cole Foundation operates as a hybrid service-and-grantmaking private foundation, making it unusual among traditional grant funders. Its primary program is a free adaptive equipment lending library for children with disabilities — walkers, gait trainers, standing frames, adaptive seating, and bath seats — at no cost to families. Organizations and families seeking to partner with or receive support from COLE should focus their ask on direct equipment needs or purchasing specific adaptive equipment items not currently in COLE's inventory. The most effective approach is to submit a borrow request through the foundation's online form (thecolefoundation.com/need-equipment/), clearly documenting the child's specific disability, the type of adaptive equipment needed, and why existing channels (insurance, Medicaid, school-based services) have been exhausted or are insufficient. COLE explicitly positions its lending program as a bridge resource — for children who cannot obtain equipment through other means or who are waiting for insurance approval. Proposals for small equipment purchase grants should specify the equipment item, estimated cost, and the child's documented therapy or medical need. A letter from a physician or physical/occupational therapist significantly strengthens any request. COLE's board includes two MDs (Ralph Shapiro MD and Carrie Pettey MD), which means clinical documentation will be reviewed with medical sophistication.

The Cole Foundation is a 990-PF filer (private foundation) with total assets of approximately $2.3 million, primarily held in a corporate stock and bond investment portfolio valued at approximately $1.6 to $1.8 million. Annual qualifying distributions (grants and direct charitable expenditures) have ranged from $115,336 to $132,184 over the most recent three tax years reviewed (2021 to 2023). The foundation is subject to the standard 5% minimum distribution requirement for private foundations, consistent with its approximately $115K annual distribution target. Revenue varies significantly year to year: 2023 showed $108K in revenue (primarily investment income plus $116K in contributions), while 2022 showed negative revenue due to capital losses. The foundation does not list individual grant recipients separately in available 990-PF data, and the grants-to-individuals checkbox is marked N, suggesting its charitable distributions flow through direct program services rather than discretionary cash grants to individuals. Equipment-related expenditures (insurance, storage, acquisition) appear to be the primary program cost, supplemented by any direct equipment purchase grants for hard-to-source items. Annual total expenditures have ranged from $139,959 in 2023 to $227,981 in 2020.

The Cole Foundation occupies a narrow and specialized niche within the pediatric disability funding ecosystem. Unlike large disability-focused foundations such as the National MS Society or the Robert Wood Johnson Foundation, COLE does not fund research, advocacy, or organizational capacity. It operates closer to peer foundations in the community equipment-lending space. The table below compares COLE to similar organizations:

COLE's differentiation is its community-founded, parent-driven model (founder Colleen Peterson), medical board involvement (two physicians on the board), and community event fundraising via the Wheels for Freedom motorcycle rally. Its investment portfolio size relative to annual giving suggests a conservative spending approach that prioritizes long-term sustainability over maximum current distribution.

The Cole Foundation has been actively expanding its community fundraising footprint in 2024 and 2025. The second annual Wheels for Freedom motorcycle ride and car rally was held on July 13, 2024, with the third event scheduled for July 12, 2025 (registration at 10:00 AM, kickstands up at 11:00 AM). St. Paul Harley Davidson serves as a primary sponsor, reflecting COLE's community-embedded fundraising model. In February 2025, Woodbury Lunds and Byerlys grocery selected COLE as its annual nonprofit partner, providing meaningful earned-income and visibility. In April 2025, Port of Subs in Woodbury hosted a fundraiser meal event for the foundation. The foundation was recognized as the 2022 Impact Award Winner by Power of 100 Hastings, MN. These activities indicate an operationally active organization with strong community partnerships expanding its geographic fundraising reach in the Twin Cities area of Minnesota, even though it is legally domiciled in Fallston, Maryland. The foundation's website and contact email (info@thecolefoundation.com) were both current as of March 2026.

Families and organizations seeking equipment or funding from The Cole Foundation should follow these key practices. First, COLE is primarily a lending program and not a cash grant program — always check the equipment inventory online before requesting a purchase grant, since borrowing is the fastest and most likely path to assistance. Second, when the needed item is not in inventory and a purchase grant is required, attach clinical documentation from a physician, physical therapist, or occupational therapist specifying the equipment type, its therapeutic purpose, and why it cannot be obtained through insurance or Medicaid waiver programs. Third, COLE's stated mission positions the program as a bridge resource while waiting for insurance approval or for equipment not obtainable through other channels — framing any request around that bridge narrative increases alignment with COLE's mission. Fourth, there is no application deadline; requests are reviewed on a rolling basis and equipment pickup is by appointment only at the warehouse location. Fifth, families anywhere in COLE's service area may apply regardless of income level, as COLE imposes no income restrictions — a distinctive and inclusive feature compared to many disability-specific programs. Prompt return of borrowed equipment when it is no longer needed demonstrates good faith and supports the program's ability to serve other children.