TY 2011 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Nonexempt Charitable Trust
Treated as a Private Foundation

Note. The foundation may be able to use a copy of this return to satisfy state reporting requirements.

OMB No. 1545-0052

2011

For calendar year 2011, or tax year beginning 01-01-2011 , and ending 12-31-2011

Check all that apply:Initial returnInitial return of a former public charityFinal return

Amended returnAddress changeName change

Name of foundation
OLSON FAMILY FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)4 BERTHE CIRCLE Room/suite

City or town, state, and ZIP code
COLORADO SPRINGS, CO80906

A Employer identification number

20-5331904

B Telephone number (see page 10 of the instructions)

(719) 473-4142

C If exemption application is pending, check here bullet

D 1. Foreign organizations, check here . bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trustOther taxable private foundation 2. Foreign organizations meeting the 85% test,
check here and attach computation bullet

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$473,783J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

E If private foundation status was terminated
under section 507(b)(1)(A), check here bullet

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here bullet

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see page 11 of the instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)	110,000
2	Check
3	Interest on savings and temporary cash investments	738
4	Dividends and interest from securities......	7,558		7,442	7,442
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10
b	Gross sales price for all assets on line 6a
7	Capital gain net income (from Part IV, line 2)...			5,725
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......
12	Total. Add lines 1 through 11........	118,296		13,167	7,442
13	Compensation of officers, directors, trustees, etc.
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		113		113
c	Other professional fees (attach schedule)....		4,928		4,928
17	Interest...............
18	Taxes (attach schedule) (see page 14 of the instructions)		225		225
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		0
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	5,266		0	5,266	0
25	Contributions, gifts, grants paid........	59,510				0
26	Total expenses and disbursements. Add lines 24 and 25	64,776		0	5,266	0
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	53,520
b	Net investment income (if negative, enter -0-)			13,167
c	Adjusted net income (if negative, enter -0-)...				2,176

For Privacy Act and Paperwork Reduction Act Notice, see page 30 of the instructions.

Cat. No. 11289X Form 990-PF (2011)

Form 990-PF (2011)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing...............	58,546	126,531	126,531
	2	Savings and temporary cash investments..........
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see page 15 of the
		instructions)....................
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use...............
	9	Prepaid expenses and deferred charges...........
	10a	Investments—U.S. and state government obligations (attach schedule)		0
	b	Investments—corporate stock (attach schedule)........	371,018	338,291	344,087
	c	Investments—corporate bonds (attach schedule)........	19,946	3,165	3,165
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	449,510	467,987	473,783
	17	Accounts payable and accrued expenses..........
	18	Grants payable...................
	19	Deferred revenue..................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22)..........		0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted....................
	25	Temporarily restricted................
	26	Permanently restricted................
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds.........
	28	Paid-in or capital surplus, or land, bldg., and equipment fund
	29	Retained earnings, accumulated income, endowment, or other funds
	30	Total net assets or fund balances (see page 17 of the
		instructions)....................	449,510	467,987
	31	Total liabilities and net assets/fund balances (see page 17 of
		the instructions)..................	449,510	467,987

Part III	Analysis of Changes in Net Assets or Fund Balances
1	Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree
	with end-of-year figure reported on prior year’s return)...............	1	449,510
2	Enter amount from Part I, line 27a.....................	2	53,520
3	Other increases not included in line 2 (itemize)	3	5,796
4	Add lines 1, 2, and 3..........................	4	508,826
5	Decreases not included in line 2 (itemize)	5	40,839
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	467,987

Form 990-PF (2011)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation	(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1 a	Accenture PLC Ireland Shares Class A	P	2011-02-24	2011-08-22
b	Aecom Technology Corp	P	2011-01-27	2011-10-03
c	Aecom Technology Corp	P	2011-01-27	2011-11-10
d	American Express Company	P	2011-07-14	2011-10-03
e	BCE Inc	P	2011-09-15	2011-10-03
	Carrizo Oil & Gas	P	2011-07-30	2011-10-03
	Carrizo Oil & Gas	P	2011-07-20	2011-12-12
	CME Group Inc	P	2011-10-07	2011-11-18
	Complete Production Services	P	2011-05-23	2011-10-03
	Complete Production Services	P	2011-05-23	2011-11-07
	Corporate Office PPTYS REIT Tr	P	2011-03-17	2011-12-12
	Diana Containerships Inc	P	2011-01-20	2011-01-21
	Financial Select Sector	P	2011-01-01	2011-12-22
	Gap Inc.	P	2011-04-07	2011-08-10
	Global X FTSE Asean	P	2011-07-07	2011-10-03
	Halliburton Company	P	2011-07-05	2011-12-31
	Hologic Inc.	P	2011-03-21	2011-10-03
	Index Shs Inc	P	2011-04-04	2011-08-10
	Ishares Barclays	P	2011-01-01	2011-12-21
	Ishares JP Morgan	P	2011-08-02	2011-10-03
	Ishares MSCI ACWX	P	2011-03-21	2011-10-03
	IShares MSCI Canada	P	2011-04-04	2011-12-31
	IShares MSCI Germany	P	2011-01-01	2011-08-05
	IShares S&P Latin America	P	2011-03-03	2011-07-19
	IShares TR	P	2011-01-01	2011-05-25
	IShares TR-Dow Jones	P	2011-02-24	2011-08-03
	KLA-Tencor Corp	P	2011-07-26	2011-10-03
	Lockheed Martin Corp	P	2011-01-07	2011-05-25
	Meadwestvaco Corp	P	2011-04-07	2011-10-03
	Microsoft Corp	P	2011-08-22	2011-10-03
	Moody's Corp	P	2011-03-24	2011-10-03
	P.F. Changes China Bist Inc.	P	2011-09-19	2011-10-03
	People's United Financial	P	2011-04-06	2011-10-03
	Perkinelmer Inc.	P	2011-03-21	2011-11-07
	Pfizer Incorporated	P	2011-02-04	2011-10-03
	Powershares Dynamic Mkt Media Portfolio	P	2011-03-24	2011-07-14
	PowerShares FTSE RAFI Developed Markets	P	2011-07-07	2011-09-01
	PowerShares S&P	P	2011-04-06	2011-10-05
	PowerShares S&P 500	P	2011-07-19	2011-10-03
	PowerShares Senior	P	2011-03-10	2011-08-30
	Select Sector SPDR	P	2011-05-04	2011-10-03
	Select Sector SPDR Consumer Discretionary	P	2011-09-30	2011-10-03
	SPDR Barclays Cap	P	2011-01-01	2011-12-31
	SPDR S&P 500 Trust	P	2011-01-01	2011-10-12
	Steel Dynamics Inc.	P	2011-04-06	2011-09-19
	Time Warner Cable	P	2011-06-10	2011-12-31
	Vanguard Consumer Staple	P	2011-01-01	2011-11-09
	Vanguard Dividend Appreciation	P	2011-05-25	2011-12-31
	Vanguard Intl Equity	P	2011-03-07	2011-08-10
	Vanguard MSCI European	P	2011-10-12	2011-12-31
	Vanguard MSCI EAFE	P	2011-01-01	2011-11-25
	Vanguard ST Corp	P	2011-03-01	2011-12-31
	Verisign Inc.	P	2011-05-23	2011-10-03
	Wal-Mart Stores Inc.	P	2011-09-15	2011-10-03
	Wisdomtree Asia Local	P	2011-08-22	2011-12-31
	Wisdomtree China	P	2011-06-22	2011-12-31
	Wisdomtree Dreyfus Commodity Currency Fund	P	2011-01-05	2011-06-22
	Wisdomtree Dreyfus Emerging Currency Fund	P	2011-01-01	2011-12-31
	Wisdomtree Emerging Markets Smallcap Dividend Fund	P	2011-08-22	2011-10-03
	Wisdomtree Japan	P	2011-01-01	2011-12-31
	Wisdomtree L/C DVD	P	2011-05-25	2011-12-31
	WMS Inds Inc Del	P	2011-04-11	2011-08-15
	Altria Group Inc.	P	2010-10-28	2011-07-05
	Altria Group Inc. Notes	P	2010-07-30	2011-05-02
	Automatic Data Processing	P	2010-11-08	2011-07-26
	Becton Dickinson & Co.	P	2010-11-24	2011-03-17
	Chubb Corp	P	2010-08-27	2011-01-25
	Claymore Trust	P	2010-11-17	2011-12-31
	CurrencyShares Austalian	P	2010-12-27	2011-02-17
	DPL Inc.	P	2010-09-03	2011-02-24
	Dupont Fabros Technology	P	2010-10-27	2011-10-03
	East West Bancorp Inc.	P	2010-12-22	2011-10-03
	Exxon Mobil Corp	P	2010-08-27	2011-05-04
	First Trust Dow Jones Select Microcap Index Fd	P	2010-12-10	2011-09-22
	Iron Mtn Inc. PA	P	2010-12-17	2011-12-31
	IShares IBoxx $ Yield	P	2011-01-01	2011-12-31
	IShares MSCI All	P	2010-06-22	2011-02-02
	Ishares MSCI Chile	P	2010-01-12	2011-01-11
	IShares MSCI Singapore	P	2010-06-22	2011-12-31
	IShares MSCI United Kingdom Index Fund	P	2010-08-30	2011-04-04
	IShares S&P North American Technology Software	P	2011-01-01	2011-12-31
	JPMorgan Cahse & Co	P	2010-09-01	2011-06-23
	Metropcs Wireless Inc.	P	2010-10-12	2011-03-01
	Monsanta Co New	P	2011-01-01	2011-05-16
	Nike Inc Class B	P	2010-05-28	2011-04-07
	Omnicare Inc.	P	2010-12-17	2011-07-13
	Omnicom Group	P	2010-11-08	2011-09-30
	Powershares DB Base	P	2011-09-14	2011-12-31
	PowerShares DB Oil Fund	P	2010-11-17	2011-02-02
	PowerShares Dynamic Building & Construction	P	2010-12-31	2011-04-28
	PowerShares Dynamic Banking Portfolio	P	2010-12-31	2011-03-24
	PowerShares High Yld Food & Beverage Port	P	2010-03-01	2011-01-07
	PowerShares High Yield Corporate Bond Portfolio	P	2011-01-01	2011-12-31
	PowerShares S&P SmallCap Information Technology Portfolio	P	2010-10-21	2011-12-31
	PowerShares S&P Smallcap Industrials Portfolio	P	2010-12-06	2011-06-30
	PowerShares S&P SmallCap Health Care Portfolio	P	2010-10-07	2011-10-03
	PowerShares Zacks Micro Cap Portfolio	P	2010-06-17	2011-07-07
	QualComm Inc.	P	2010-12-03	2011-10-03
	Select Sector SPDR FD Materials	P	2010-09-07	2011-01-25
	Skyworks Solutions Inc.	P	2010-03-25	2011-01-21
	SPDR Barclays Cap	P	2011-01-01	2011-03-01
	SPDR Gold Trust	P	2011-01-01	2011-01-05
	SPDR S&P Bank	P	2011-01-01	2011-03-24
	SPDR S&P Cptl Mkts	P	2011-01-01	2011-07-14
	SPDR S&P Emerging Small Cap	P	2010-07-26	2011-07-19
	SPDR S&P MIDCAP	P	2010-11-24	2011-10-03
	SPDR S&P OIL & GAS	P	2010-09-07	2011-08-10
	STATE STR CORP	P	2011-01-01	2011-02-24
	UBS AG JERSEY BRH	P	2010-09-01	2011-06-23
	UNITED PARCEL SERVICE-B	P	2010-01-01	2011-06-10
	VANGUARD SHORT TERM	P	2010-08-12	2011-04-01
	VANGUARD SMALL CAP	P	2010-12-10	2011-08-10
	VERIZON COMMUNICATONS	P	2010-10-06	2011-10-03
	ABBOT LABORATORIES	P	2010-01-01	2011-02-14
	ALTRIA GROUP INC.	P	2010-01-26	2011-05-02
	AMERICAN CAMPUS COMMUNITIES	P	2010-04-07	2011-08-15
	APPLE INC.	P	2011-01-01	2011-02-24
	BALL CORP	P	2006-10-17	2011-10-03
	BMC SOFTWARE INC.	P	2010-09-03	2011-10-03
	CAREFUSION CORP	P	2011-04-29	2011-12-22
	CHESAPEAKE ENERGY CORP	P	2010-01-01	2011-01-05
	CHEVRON CORPORATION	P	2008-10-15	2011-10-03
	CIMAREX ENERGY CO.	P	2008-08-25	2011-04-06
	CORPORATE OFFICE PPTYS	P	2010-09-10	2011-12-12
	CULLEN FROST BANKERS INC.	P	2010-01-01	2011-04-06
	CVS CAREMARK CORP	P	2009-08-17	2011-02-14
	DAVITA INC.	P	2010-01-01	2011-02-18
	DIANA SHIPPING INC.	P	2010-01-21	2011-03-21
	DOLLAR TREE STORES INC.	P	2008-03-13	2011-08-24
	DREAMWORKS ANIMATION	P	2009-12-07	2011-03-21
	ESTERLINE TECHNOLOGIES	P	2009-08-21	2011-11-30
	EXPRESS SCRIPTS INC.	P	2010-01-01	2011-02-24
	EXXON MOBIL CORP	P	2010-08-27	2011-10-03
	FIRST TRUST DOW JONES	P	2010-05-10	2011-09-22
	FISERV INC.	P	2010-01-01	2011-05-18
	FOREST OIL CORP	P	2006-10-17	2011-10-14
	GLOBAL X FUNDS CHINA	P	2010-07-26	2011-11-25
	HARRIS CORP	P	2010-01-01	2011-06-30
	HASBRO INC.	P	2009-06-18	2011-10-03
	HCC INSURANCE HOLDINGS INC.	P	2006-10-17	2011-10-03
	HENRY SCHEIN INC.	P	2010-01-01	2011-11-23
	INTERNATIONAL BUSINESS MACHINE CORP	P	2008-08-25	2011-12-22
	ISHARES IBOXX $ YIELD CORPORATE BOND FUND	P	2010-03-10	2011-08-08
	ISHARES MSCI CANADA	P	2010-01-01	2011-08-05
	ISHARES MSCI SINGAPORE	P	2009-12-18	2011-03-03
	ISHARES S&P NORTH AMERICAN TECHNOLOGY SOFTWARE	P	2009-10-19	2011-01-07
	ISHARES TR MSCI	P	2008-09-22	2011-10-03
	LOCKHEED MARTIN CORP	P	2010-01-28	2011-05-25
	LONE PINE RESOURCES INC.	P	2010-01-01	2011-10-14
	MICROCHIP TECHNOLOGY INC.	P	2010-08-20	2011-10-03
	MORGAN STANLEY GLOBAL NOTES	P	2009-08-21	2011-05-02
	NASDAQ QMX GROUP	P	2010-01-01	2011-04-06
	NIKE INC CLASS B	P	2010-03-01	2011-04-07
	PENN NATL GAMING INC.	P	2006-12-13	2011-10-03
	PERKINELMER INC.	P	2010-02-10	2011-11-07
	PETROHAWK ENERGY CORPORATION	P	2010-04-28	2011-07-20
	Philip Morris International Inc.	P	2010-01-01	2011-01-07
	PowerShares Dividend Achievers Portfolio	P	2009-06-03	2011-10-03
	PowerShares Dynamic MKT Leisure and Entertainment Port	P	2010-02-16	2011-09-30
	PowerShares Zacks Micro Cap Portfolio	P	2010-06-17	2011-07-07
	PSS World Medical Inc.	P	2009-12-14	2011-10-03
	Scotts Miracle-Gro Co. Class A	P	2010-02-24	2011-11-23
	Sensient Technologies	P	2009-04-27	2011-01-27
	Skyworks Solutions Inc.	P	2010-03-25	2011-04-11
	SPDR S&P Bank	P	2010-03-15	2011-03-24
	SPDR S&P Emerging	P	2010-06-22	2011-07-19
	SPDR S&P Midcap 400 Trust Series	P	2010-11-24	2011-12-12
	Superior Energy SVCS Inc.	P	2007-10-19	2011-10-03
	United Technologies Corp.	P	2010-01-01	2011-09-15
	Vanguard MSCI EAFE	P	2009-10-21	2011-11-25
	Vanguard MSCI Emerging Markets	P	2010-01-01	2011-11-25
	Wal-Mart Stores Inc.	P	2010-01-28	2011-02-14
	Weingarten Realty	P	2010-09-18	2011-10-03
	SPDR Gold Trust	P	2010-01-01	2011-01-05

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	2,238	2,363	-125
b	17	30	-13
c	1,120	1,652	-532
d	45	51	-6
e	37	39	-2
	21	40	-19
	1,186	1,680	-494
	1,730	1,792	-62
	18	31	-13
	1,508	1,351	157
	22	34	-12
	25	28	-3
	4,446	5,367	-921
	1,130	1,640	-510
	54	68	-14
	1,433	2,089	-656
	30	44	-14
	3,087	3,850	-763
	10,076	9,621	455
	105	111	-6
	104	133	-29
	1,276	1,496	-220
	6,489	7,456	-967
	3,581	3,805	-224
	20,161	20,111	50
	2,312	2,343	-31
	38	44	-6
	1,096	1,031	65
	24	32	-8
	49	48	1
	30	33	-3
	27	29	-2
	34	39	-5
	826	1,089	-263
	53	57	-4
	2,409	2,423	-14
	7,140	8,417	-1,277
	843	1,160	-317
	118	124	-6
	5,220	5,736	-516
	63	71	-8
	69	71	-2
	4,257	4,580	-323
	21,548	20,904	644
	1,280	2,110	-830
	2,165	2,682	-517
	3,729	3,760	-31
	8,627	9,434	-807
	6,476	7,676	-1,200
	18,895	20,166	-1,271
	9,207	11,460	-2,253
	10,609	10,642	-33
	28	37	-9
	52	52	0
	3,143	3,297	-154
	11,285	11,291	-6
	13,862	13,039	823
	16,832	17,389	-557
	116	138	-22
	7,192	7,886	-694
	4,239	4,680	-441
	624	1,022	-398
	2,362	2,222	140
	2,334	2,385	-51
	2,650	2,272	378
	2,230	2,230	0
	1,824	1,667	157
	6,255	7,045	-790
	5,434	5,432	2
	1,489	1,500	-11
	20	25	-5
	30	39	-9
	1,266	880	386
	2,679	3,438	-759
	2,768	2,304	464
	6,774	6,913	-139
	9,384	8,368	1,016
	2,393	1,977	416
	9,541	8,316	1,225
	3,940	3,258	682
	4,476	3,605	871
	7,164	6,506	658
	3,165	3,176	-11
	2,308	2,244	64
	855	811	44
	2,502	1,960	542
	1,814	2,284	-470
	10,086	10,135	-49
	8,140	7,019	1,121
	2,387	2,341	46
	1,492	1,553	-61
	1,764	1,451	313
	3,343	3,331	12
	1,450	1,595	-145
	1,720	1,641	79
	27	25	2
	11,625	10,158	1,467
	48	49	-1
	3,530	3,051	479
	640	360	280
	7,093	6,934	159
	3,740	3,480	260
	1,889	1,829	60
	3,314	3,635	-321
	19,244	17,079	2,165
	1,939	1,706	233
	2,065	1,734	331
	2,382	2,209	173
	3,570	3,256	314
	2,677	2,528	149
	11,559	11,599	-40
	3,199	3,597	-398
	37	33	4
	1,101	1,223	-122
	4,668	4,719	-51
	1,765	1,352	413
	1,376	547	829
	30	21	9
	38	38	0
	2,757	2,794	-37
	3,383	3,064	319
	92	63	29
	1,864	733	1,131
	1,031	1,782	-751
	1,671	1,368	303
	1,473	1,537	-64
	1,439	992	447
	849	1,096	-247
	2,025	556	1,469
	879	1,320	-441
	1,848	1,090	758
	1,283	604	679
	1,169	878	291
	7,226	6,961	265
	1,811	1,406	405
	733	1,211	-478
	1,270	1,640	-370
	1,981	2,025	-44
	33	25	8
	27	34	-7
	1,572	1,395	177
	1,274	871	403
	169	177	-8
	5,585	5,044	541
	1,627	1,416	211
	2,430	1,856	574
	70	74	-4
	2,192	2,110	82
	252	464	-212
	31	28	3
	3,201	3,127	74
	1,814	1,769	45
	1,627	1,436	191
	33	40	-7
	707	753	-46
	2,445	1,398	1,047
	1,736	1,334	402
	174	143	31
	2,129	1,783	346
	384	329	55
	20	20	0
	1,911	1,590	321
	562	375	187
	777	459	318
	613	600	13
	53	48	5
	4,730	4,653	77
	25	32	-7
	2,410	1,796	614
	8,093	7,715	378
	9,897	10,798	-901
	1,485	1,427	58
	21	22	-1
	1	0	1

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69				(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69		(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a	0	0	0	-125
b	0	0	0	-13
c	0	0	0	-532
d	0	0	0	-6
e	0	0	0	-2
	0	0	0	-19
	0	0	0	-494
	0	0	0	-62
	0	0	0	-13
	0	0	0	157
	0	0	0	-12
	0	0	0	-3
	0	0	0	-921
	0	0	0	-510
	0	0	0	-14
	0	0	0	-656
	0	0	0	-14
	0	0	0	-763
	0	0	0	455
	0	0	0	-6
	0	0	0	-29
	0	0	0	-220
	0	0	0	-967
	0	0	0	-224
	0	0	0	50
	0	0	0	-31
	0	0	0	-6
	0	0	0	65
	0	0	0	-8
	0	0	0	1
	0	0	0	-3
	0	0	0	-2
	0	0	0	-5
	0	0	0	-263
	0	0	0	-4
	0	0	0	-14
	0	0	0	-1,277
	0	0	0	-317
	0	0	0	-6
	0	0	0	-516
	0	0	0	-8
	0	0	0	-2
	0	0	0	-323
	0	0	0	644
	0	0	0	-830
	0	0	0	-517
	0	0	0	-31
	0	0	0	-807
	0	0	0	-1,200
	0	0	0	-1,271
	0	0	0	-2,253
	0	0	0	-33
	0	0	0	-9
	0	0	0	0
	0	0	0	-154
	0	0	0	-6
	0	0	0	823
	0	0	0	-557
	0	0	0	-22
	0	0	0	-694
	0	0	0	-441
	0	0	0	-398
	0	0	0	140
	0	0	0	-51
	0	0	0	378
	0	0	0	0
	0	0	0	157
	0	0	0	-790
	0	0	0	2
	0	0	0	-11
	0	0	0	-5
	0	0	0	-9
	0	0	0	386
	0	0	0	-759
	0	0	0	464
	0	0	0	-139
	0	0	0	1,016
	0	0	0	416
	0	0	0	1,225
	0	0	0	682
	0	0	0	871
	0	0	0	658
	0	0	0	-11
	0	0	0	64
	0	0	0	44
	0	0	0	542
	0	0	0	-470
	0	0	0	-49
	0	0	0	1,121
	0	0	0	46
	0	0	0	-61
	0	0	0	313
	0	0	0	12
	0	0	0	-145
	0	0	0	79
	0	0	0	2
	0	0	0	1,467
	0	0	0	-1
	0	0	0	479
	0	0	0	280
	0	0	0	159
	0	0	0	260
	0	0	0	60
	0	0	0	-321
	0	0	0	2,165
	0	0	0	233
	0	0	0	331
	0	0	0	173
	0	0	0	314
	0	0	0	149
	0	0	0	-40
	0	0	0	-398
	0	0	0	4
	0	0	0	-122
	0	0	0	-51
	0	0	0	413
	0	0	0	829
	0	0	0	9
	0	0	0	0
	0	0	0	-37
	0	0	0	319
	0	0	0	29
	0	0	0	1,131
	0	0	0	-751
	0	0	0	303
	0	0	0	-64
	0	0	0	447
	0	0	0	-247
	0	0	0	1,469
	0	0	0	-441
	0	0	0	758
	0	0	0	679
	0	0	0	291
	0	0	0	265
	0	0	0	405
	0	0	0	-478
	0	0	0	-370
	0	0	0	-44
	0	0	0	8
	0	0	0	-7
	0	0	0	177
	0	0	0	403
	0	0	0	-8
	0	0	0	541
	0	0	0	211
	0	0	0	574
	0	0	0	-4
	0	0	0	82
	0	0	0	-212
	0	0	0	3
	0	0	0	74
	0	0	0	45
	0	0	0	191
	0	0	0	-7
	0	0	0	-46
	0	0	0	1,047
	0	0	0	402
	0	0	0	31
	0	0	0	346
	0	0	0	55
	0	0	0	0
	0	0	0	321
	0	0	0	187
	0	0	0	318
	0	0	0	13
	0	0	0	5
	0	0	0	77
	0	0	0	-7
	0	0	0	614
	0	0	0	378
	0	0	0	-901
	0	0	0	58
	0	0	0	-1
	0	0	0	1

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	5,725
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see pages 13 and 17 of the instructions). If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . .		3	-5,564

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.

Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period? Yes No

If “Yes,” the foundation does not qualify under section 4940(e). Do not complete this part.

1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2010			0.000000
2009			0.000000
2008			0.000000
2007
2006			0.000000

2	Total of line 1, column (d) ......................	2	0.000000
3	Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by the number of years the foundation has been in existence if less than 5 years. . .	3	0.000000
4	Enter the net value of noncharitable-use assets for 2011 from Part X, line 5.....	4
5	Multiply line 4 by line 3.......................	5
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	132
7	Add lines 5 and 6.........................	7	132
8	Enter qualifying distributions from Part XII, line 4..............	8	0
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions on page 18.

Form 990-PF (2011)

Page 4

Part VI

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check hereand enter “N/A” on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	263
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2............................	3	263
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-).	4
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	263
6	Credits/Payments:

a	2011 estimated tax payments and 2010 overpayment credited to 2011	6a
b	Exempt foreign organizations—tax withheld at source.......	6b
c	Tax paid with application for extension of time to file (Form 8868)	6c
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	263
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2012 estimated tax0	Refunded	11

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of

the instructions for definition)?............................

If the answer is “Yes” to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If “Yes,” attach a detailed description of the activities.

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If “Yes,” attach a conformed copy of the changes....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If “Yes,” has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If “Yes,” attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument?................

Did the foundation have at least $5,000 in assets at any time during the year? If “Yes,” complete Part II, col. (c), and Part XV.

Yes

Enter the states to which the foundation reports or with which it is registered (see page 19 of the

instructions) bullet

If the answer is “Yes” to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If “No,” attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2011 or the taxable year beginning in 2011 (see instructions for Part XIV on

page 27)? If “Yes,” complete Part XIV..........................

Did any persons become substantial contributors during the tax year? If “Yes,” attach a schedule listing their names and addresses.

Yes

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. (see page 20 of the instructions) .......

Did the foundation acquire a direct or indirect interest in any applicable insurance contract before August 17, 2008?

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

N/A

The books are in care of bullet

CURTIS OLSON Telephone no. bullet

(719) 473-4142

Located at bullet

4 BERTHE CIR COLORADOSPRINGSCO ZIP+4 bullet

809063161

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —Check here......... bullet

and enter the amount of tax-exempt interest received or accrued during the year ...... bullet

At any time during calendar year 2011, did the foundation have an interest in or a signature or other authority over

a bank, securities, or other financial account in a foreign country? .................

See page 20 of the instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the foreign country bullet

Form 990-PF (2011)

Page 5

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the “Yes” column, unless an exception applies.

Yes

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?.........................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)?.................YesNo

(6) Agree to pay money or property to a government official? (Exception. Check “No”

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.).........YesNo

If any answer is “Yes” to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...

Organizations relying on a current notice regarding disaster assistance check here......... bullet

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2011?.............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2011, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2011?...............YesNo

If “Yes,” list the years bullet

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer “No” and attach statement—see page 20 of the instructions.) .........

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business

enterprise at any time during the year?.....................YesNo

If “Yes,” did it have excess business holdings in 2011 as a result of (1) any purchase by the foundation

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved

by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)

the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine

if the foundation had excess business holdings in 2011.)....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2011?

During the year did the foundation pay or incur any amount to:

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?...............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see page 22 of the instructions)...YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?........YesNo

If any answer is “Yes” to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance (see page 22 of the instructions)?

Organizations relying on a current notice regarding disaster assistance check here......... bullet

If the answer is “Yes” to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant?............YesNo

If “Yes,” attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay

premiums on a personal benefit contract?....................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....

If “Yes” to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....

Form 990-PF (2011)

Page 6

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation (see page 22 of the instructions).
(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
CURTIS OLSON	President 2.00	0	0	0
4 BERTHE CIRCLE COLORADO SPRINGS,CO80906	President 2.00	0	0	0
KRIS OLSON	President 2.00	0	0	0
4 BERTHE CIRCLE COLORADO SPRINGS,CO80906	President 2.00	0	0	0

2 Compensation of five highest-paid employees (other than those included on line 1—see page 23 of the instructions). If none, enter “NONE.”
(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				0

3 Five highest-paid independent contractors for professional services (see page 23 of the instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

Total number of others receiving over $50,000 for professional services............. bullet

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.		Expenses
1


2


3


4

Form 990-PF (2011)

Page 7

Part IX-B

Summary of Program-Related Investments (see page 23 of the instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.		Amount
1


2


All other program-related investments. See page 24 of the instructions.
3

Total. Add lines 1 through 3.......................... bullet

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
see page 24 of the instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

Average of monthly cash balances.......................

Fair market value of all other assets (see page 24 of the instructions)............

Total (add lines 1a, b, and c).........................

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25

of the instructions) ...........................

Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4

Minimum investment return. Enter 5% of line 5..................

Part XI

Distributable Amount (see page 25 of the instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet

and do not complete this part.)

Minimum investment return from Part X, line 6....................

Tax on investment income for 2011 from Part VI, line 5......

Income tax for 2011. (This does not include the tax from Part VI.)...

Add lines 2a and 2b............................

Distributable amount before adjustments. Subtract line 2c from line 1............

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

Deduction from distributable amount (see page 25 of the instructions)...........

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,

line 1................................

Part XII

Qualifying Distributions (see page 25 of the instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment

income. Enter 1% of Part I, line 27b (see page 26 of the instructions)............

Adjusted qualifying distributions. Subtract line 5 from line 4..............

Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
the section 4940(e) reduction of tax in those years.

Form 990-PF (2011)

Page 8

Part XIII

Undistributed Income (see page 26 of the instructions)

		(a) Corpus	(b) Years prior to 2010	(c) 2010	(d) 2011
1 Distributable amount for 2011 from Part XI, line 7					0
2 Undistributed income, if any, as of the end of 2011:
a Enter amount for 2010 only.......
b Total for prior years:20, 20, 20
3 Excess distributions carryover, if any, to 2011:
a From 2006.......
b From 2007.......
c From 2008.......
d From 2009.......
e From 2010.......
fTotal of lines 3a through e.........
4Qualifying distributions for 2011 from Part
XII, line 4: $
a Applied to 2010, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see page 26 of the instructions)
c Treated as distributions out of corpus (Election required—see page 26 of the instructions)...
d Applied to 2011 distributable amount.....
e Remaining amount distributed out of corpus
5 Excess distributions carryover applied to 2011.
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5
b Prior years’ undistributed income. Subtract line 4b from line 2b ...........
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......
d Subtract line 6c from line 6b. Taxable amount—see page 27 of the instructions ...
e Undistributed income for 2010. Subtract line 4a from line 2a. Taxable amount—see page 27 of the instructions ...........
f Undistributed income for 2011. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2011 ..........					0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (see page 27 of the instructions) ...........
8Excess distributions carryover from 2006 not applied on line 5 or line 7 (see page 27 of the instructions) .............
9Excess distributions carryover to 2012. Subtract lines 7 and 8 from line 6a ......
10 Analysis of line 9:
a Excess from 2007....
b Excess from 2008....
c Excess from 2009....
d Excess from 2010....
e Excess from 2011....

Form 990-PF (2011)

Page 9

Part XIV

Private Operating Foundations (see page 27 of the instructions and Part VII-A, question 9)

1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2011, enter the date of the ruling....... bullet

b Check box to indicate whether the organization is a private operating foundation described in section4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2011	(b) 2010	(c) 2009	(d) 2008	(e) Total

b 85% of line 2a .........
c Qualifying distributions from Part XII, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ....
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets” alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment” alternative test— enter 2⁄3 of minimum investment return shown in Part X, line 6 for each year listed...
c “Support” alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

Part XV

Supplementary Information (Complete this part only if the organization had $5,000 or more in
assets at any time during the year—see page 27 of the instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

CURTIS AND KRISTIN D OLSON

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

NONE

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. (see page 28 of the instructions) to individuals or organizations
under other conditions, complete items 2a, b, c, and d.

aThe name, address, and telephone number of the person to whom applications should be addressed:

OLSON FAMILY FOUNDATION CO CURTIS O
4 BERTHE CIRCLE
COLORADO SPRINGS,CO80906

bThe form in which applications should be submitted and information and materials they should include:

INTRODUCTION LETTER, USE OF FUNDS, CHARITABLE PURPOSE, IRC QUALIFICATION

cAny submission deadlines:

NONE

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

NONE - MUST BE FOR CHARITABLE PURPOSE

Form 990-PF (2011)

Page 10

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
YOUNGLIFE 420 N CASCADE AVENUE COLORADO SPRINGS,CO80901		501(c)(3)	CharitablePurpose	12,510
HILLSPRINGS LEARNING CENTER 1257 LAKE PLAZA DRIVE COLORADO SPRINGS,CO80906		501(C)(3)	CharitablePurpose	15,000
FIRST PRESBYTERIAN CHURCH 219 EAST BIJOU STREET COLORADO SPRINGS,CO80903		501 (c)(3)	CharitablePurpose	25,000
BIG BROTHERS AND BIG SISTERS 111 S TEJON STREET 302 COLORADO SPRINGS,CO80903		501 (c) (3)	CharitablePurpose	5,000
COLORADO SPRINGS CHRISTIAN SCHOOL 4855 MALLOW RD COLORADO SPRINGS,CO80907		501 (c) (3)	CharitablePurpose	2,000
Total ................................. 3a				59,510

bApproved for future payment

Total ................................. 3b

Form 990-PF (2011)

Page 11

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount
aNone	999999
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3Interest on savings and temporary cash investments	999999	738
4 Dividends and interest from securities....	999999	7,558
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6Net rental income or (loss) from personal property
7 Other investment income.....	999999	11
8Gain or (loss) from sales of assets other than inventory
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..		8,307

13Total. Add line 12, columns (b), (d), and (e)..................

138,307

(See worksheet in line 13 instructions on page 28 to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of the organization’s exempt purposes (other than by providing funds for such purposes). (See page 28 of the instructions.)

Form 990-PF (2011)

Page 12

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or indirectly engage in any of the following with any other organization described in section

Yes

501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

If the answer to any of the above is “Yes,” complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........YesNo

If “Yes,” complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledge.

	Signature of officer or trustee	Date	Title

Preparer's Signature	Date	Check if self- employed	PTIN
Firm's name Firm's address		Firm's EIN
		Phone no.

Form 990-PF (2011)

Additional Data

Software ID:
Software Version:
Part VI Line 7 - Tax Paid Original Return:	0

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2011 AccountingFeesSchedule

Name:

OLSON FAMILY FOUNDATION

EIN: 20-5331904

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Urbina & Co Tax Services	113

- TIN:

TY 2011 InvestmentsCorpBondsSchedule

Name:

OLSON FAMILY FOUNDATION

EIN: 20-5331904

Name of Bond	End of Year Book Value	End of Year Fair Market Value
Wells Fargo Acct: 15951392	3,165	3,165

- TIN:

TY 2011 InvestmentsCorpStockSchedule

Name:

OLSON FAMILY FOUNDATION

EIN: 20-5331904

Name of Stock	End of Year Book Value	End of Year Fair Market Value
Wells Fargo Acct: 68014894	36,268	36,268
Wells Fargo Acct: 15951392	302,023	307,819

- TIN:

TY 2011 InvestmentsGovtObligationsSch

Name:

OLSON FAMILY FOUNDATION

EIN: 20-5331904

US Government Securities - End of Year Book Value:

US Government Securities - End of Year Fair Market Value:

State & Local Government Securities - End of Year Book Value:

State & Local Government Securities - End of Year Fair Market Value:

- TIN:

TY 2011 OtherDecreasesSchedule

Name:

OLSON FAMILY FOUNDATION

EIN: 20-5331904

Description	Amount
Other Valuation Adjustments	40,839

- TIN:

TY 2011 OtherExpensesSchedule

Name:

OLSON FAMILY FOUNDATION

EIN: 20-5331904

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Amortization

- TIN:

TY 2011 OtherIncreasesSchedule

Name:

OLSON FAMILY FOUNDATION

EIN: 20-5331904

Description	Amount
Book value vs Fair Market Value	5,796

- TIN:

TY 2011 OtherProfessionalFeesSchedule

Name:

OLSON FAMILY FOUNDATION

EIN: 20-5331904

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Wells Fargo Investment Services	4,928

- TIN:

TY 2011 TaxesSchedule

Name:

OLSON FAMILY FOUNDATION

EIN: 20-5331904

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Foreign Tax	225		225