A friend of mine gave me some fabric on the bolt. I don't really have room to store them that way. Should I find a way or could I take it off the bolt and fold it up?
I refold my fabric to fit in my stash storage cupboard. I don't see why you could not refold it. Bolt boards are a nice way to store fabric but if you don't have room, it's OK not to use it.
You could just slip the bolt board out of the roll, leaving it rolled, which will make it flatter and allow it to take up less space. That's about the most efficient way to "fold" it anyway.