Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2014
Open to Public Inspection
For calendar year 2014, or tax year beginning 2014, and ending , 20
Name of foundation
OLESON FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)P O BOX 904   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
TRAVERSE CITY, MI496850904
A Employer identification number

38-6083080
B Telephone number (see instructions)

(231) 946-9349
C bullet
G Check all that apply:

D 1. bullet
2. bullet
E bullet
H Check type of organization:
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$17,095,572J Accounting method:
 
(Part I, column (d) must be on cash basis.)
F bullet
Part I 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 instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach
schedule).............. 2,003,437
2 Check bullet
Sch. B ...............
3 Interest on savings and temporary cash investments 11,312 11,312  
4 Dividends and interest from securities...... 330,916 330,916  
5a Gross rents.............. 826,278 826,278  
b Net rental income or (loss) 254,685
6a Net gain or (loss) from sale of assets not on line 10 1,095,147
b Gross sales price for all assets on line 6a 4,842,986
7 Capital gain net income (from Part IV, line 2)... 1,095,147
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)....... Click to see attachment 5,000 5,000  
12 Total. Add lines 1 through 11........ 4,272,090 2,268,653  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 56,234 14,058   42,176
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 19,823 19,823   0
c Other professional fees (attach schedule).... Click to see attachment 79,808 79,808   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 169,407 157,469   3,247
19 Depreciation (attach schedule) and depletion... Click to see attachment 92,238 92,238  
20 Occupancy.............. 3,600 1,800   1,800
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 278,463 272,965   5,498
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 699,573 638,161   52,721
25 Contributions, gifts, grants paid........ 1,000,556 1,000,556
26 Total expenses and disbursements. Add lines 24 and 25 1,700,129 638,161   1,053,277
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 2,571,961
b Net investment income (if negative, enter -0-) 1,630,492
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2014)
Form 990-PF (2014)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............... 198,533 234,153 234,153
2 Savings and temporary cash investments..........      
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........      
c Investments—corporate bonds (attach schedule)........      
11 Investments—land, buildings, and equipment: basis bullet6,620,474
Less: accumulated depreciation (attach schedule) bullet1,695,402 5,017,310 Click to see attachment4,925,072 5,129,598
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 8,659,653 Click to see attachment10,756,810 11,631,821
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment101,868 Click to see attachment101,868 Click to see attachment100,000
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 13,977,364 16,017,903 17,095,572
Liabilities 17 Accounts payable and accrued expenses.......... 601 563
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 bullet)    
23 Total liabilities (add lines 17 through 22).......... 601 563
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted...................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds......... 0 0
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 13,976,763 16,017,340
30 Total net assets or fund balances (see instructions)...... 13,976,763 16,017,340
31 Total liabilities and net assets/fund balances (see instructions).. 13,977,364 16,017,903
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 13,976,763
2 Enter amount from Part I, line 27a..................... 2 2,571,961
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 16,548,724
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 531,384
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 16,017,340
Form 990-PF (2014)
Form 990-PF (2014)
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 HATTERAS FIN 7.625% PFDPFD SER A P 2013-06-05 2014-01-02
b HATTERAS FIN 7.625% PFDPFD SER A P 2013-06-17 2014-01-02
c DREAMWORKS ANIMATION INCCLASS A P 2013-02-07 2014-01-07
d MICROSOFT CORP P 2012-12-31 2014-01-07
e ALTIUS MINERALS CORP F P 2013-04-15 2014-01-10
ALTIUS MINERALS CORP F P 2013-05-15 2014-01-10
ALTIUS MINERALS CORP F P 2013-06-26 2014-01-10
ALTIUS MINERALS CORP F P 2013-12-17 2014-01-10
HAWAIIAN ELEC INDUSTRIES P 2012-11-29 2014-01-13
HAWAIIAN ELEC INDUSTRIES P 2013-06-06 2014-01-13
REAL GOODS SOLAR CL A CLASS A P 2011-11-16 2014-01-17
MADISON CLAYMORE CVR NEW P 2012-05-24 2014-01-22
MADISON CLAYMORE CVR NEW P 2013-09-06 2014-01-22
AMERN REALTY CAP PPTYS P 2013-10-23 2014-02-07
NUVEEN REAL ASSET INCM &GROWTH FUND P 2013-12-27 2014-02-07
NEWMONT MINING CORP P 2013-12-19 2014-02-21
APOLLO RESIDENTI 8% PFDPFD SER A DUE 12/31/99 P 2013-06-05 2014-02-27
BROOKFIELD PROP PART LPF P 2013-07-05 2014-02-28
BROOKFIELD PROP PART LPF P 2013-10-11 2014-02-28
TREASURY GROUP LTD ORD F P 2010-06-30 2014-03-10
TREASURY GROUP LTD ORD F P 2010-08-09 2014-03-10
TREASURY GROUP LTD ORD F P 2011-06-10 2014-03-10
TREASURY GROUP LTD ORD F P 2011-06-14 2014-03-10
BROOKFIELD OFFICE PPTY F P 2014-02-27 2014-03-25
BROOKFIELD PROP PART LPF P 2014-02-27 2014-03-26
H&R REAL EST INVT TR STFSTAPLED UNITS P 2013-06-26 2014-04-14
DUNDEE INDUSTRIAL REIT F P 2013-10-08 2014-04-15
DUNDEE INDUSTRIAL REIT F P 2013-10-15 2014-04-15
AG MTG INVT T 8.25% PFDPFD SER A P 2013-06-06 2014-04-17
RIO TINTO PLC SPON ADR FSPONSORED ADR 1 ADR REPS 1 ORD P 2013-04-16 2014-04-22
FAIRFAX FINL HL 7.75%37F DUE 07/15/37FAIRFAX FINL HLDGS P 2011-05-05 2014-04-28
TOTAL PRODUCE PLC ORD F P 2008-11-20 2014-04-29
TOTAL PRODUCE PLC ORD F P 2009-02-06 2014-04-29
TOTAL PRODUCE PLC ORD F P 2009-04-22 2014-04-29
TOTAL PRODUCE PLC ORD F P 2009-09-30 2014-04-29
TOTAL PRODUCE PLC ORD F P 2009-12-23 2014-04-29
TOTAL PRODUCE PLC ORD F P 2012-07-06 2014-04-29
BKW AG BERN ORD F P 2013-05-13 2014-05-30
GAM HOLDING LTD ORD F P 2011-07-13 2014-06-02
GAM HOLDING LTD ORD F P 2011-08-24 2014-06-02
GAM HOLDING LTD ORD F P 2011-11-04 2014-06-02
GAM HOLDING LTD ORD F P 2012-01-12 2014-06-02
CORIO N V ORD F P 2014-06-03 2014-06-03
ASSOCIATED ESTATE REALTYREIT P 2013-07-26 2014-06-04
ASSOCIATED ESTATE REALTYREIT P 2013-08-02 2014-06-04
ASSOCIATED ESTATE REALTYREIT P 2013-09-03 2014-06-04
GBST HOLDINGS LTD ORD F P 2011-08-09 2014-06-06
CTC MEDIA INC F P 2014-03-27 2014-06-26
BLACKROCK REAL ASSET EQ P 2013-08-29 2014-07-01
BLACKROCK REAL ASSET EQ P 2013-08-30 2014-07-01
BLACKROCK REAL ASSET EQ P 2013-11-21 2014-07-01
BLACKROCK REAL ASSET EQ P 2013-12-03 2014-07-01
BLACKROCK REAL ASSET EQ P 2014-02-03 2014-07-01
SCENTRE GROUP ORD F P 2014-01-15 2014-07-07
SCENTRE GROUP ORD F P 2014-01-15 2014-07-17
SCENTRE GROUP ORD F P 2014-01-28 2014-07-17
WESTFIELD CORP ORD FSTAPLED SECURITIES P 2014-01-15 2014-07-17
WESTFIELD CORP ORD FSTAPLED SECURITIES P 2014-01-28 2014-07-17
NASPERS LTD ORD FN SHARES P 2010-02-08 2014-07-21
NASPERS LTD ORD FN SHARES P 2010-07-02 2014-07-21
CHEUNG KONG HLDG ADR F1 ADR REP 1 ORD P 2013-11-05 2014-08-04
MOBILE TELESYSTEMS ADR FSPONSORED ADR 1 ADR REPS 2 ORD P 2014-03-21 2014-08-20
HAW PAR CORP LTD ORD F P 2008-11-12 2014-09-02
HAW PAR CORP LTD ORD F P 2009-05-18 2014-09-02
BREDERODE SA ORD F P 2012-04-05 2014-09-18
BROOKFIELD PROP PART LPF P 2014-02-27 2014-09-25
US TREASURY 8.75%05/20UST BOND DUE 05/15/20 P 2014-06-19 2014-09-26
PARGESA HLDG AG NEW ORDF P 2013-04-22 2014-10-15
DREAM OFFICE REIT FREIT P 2013-06-26 2014-10-16
DREAM OFFICE REIT FREIT P 2013-09-27 2014-10-16
DREAM OFFICE REIT FREIT P 2013-10-17 2014-10-16
DREAM OFFICE REIT FREIT P 2014-09-17 2014-10-16
NEW WORLD DEVEL CO ORD F P 2014-03-28 2014-10-17
ORIFLAME INTL S A ORD FSWEDISH DEPOSITARY RECPT P 2012-11-05 2014-10-21
ORIFLAME INTL S A ORD FSWEDISH DEPOSITARY RECPT P 2013-12-19 2014-10-21
HUTCHISON PORT HLDG ORDFUSD SHARES P 2011-09-22 2014-11-05
HUTCHISON PORT HLDG ORDFUSD SHARES P 2011-10-18 2014-11-05
HUTCHISON PORT HLDG ORDFUSD SHARES P 2011-12-30 2014-11-05
US TREASURY 8.75%05/20UST BOND DUE 05/15/20 P 2014-06-19 2014-11-24
US TREASURY 8.75%05/20UST BOND DUE 05/15/20 P 2014-07-16 2014-11-24
NUVEEN GLB HIGH INC FD P 2013-08-19 2014-11-26
FEDT ENHANCED TR INC FD P 2013-07-25 2014-12-02
CORIO N V ORD F P 2013-11-06 2014-12-03
CORIO N V ORD F P 2014-06-03 2014-12-03
LIFEWAY FOODS INC P 2012-06-01 2014-12-03
RICKMERS MARITIME ORD F P 2014-05-02 2014-12-03
BLACKROCK RESOURCES & COMMODITIES STRATEGY TR P 2014-02-03 2014-12-10
NUVEEN INTER DURATION P 2013-11-21 2014-12-16
REAL GOODS SOLAR CL A CLASS A P 2011-11-16 2014-12-16
DELAWARE INVTS NATL MUNIMUNI INCOME FD P 2013-12-16 2014-12-16
COEUR MINING INC P 2013-04-15 2014-12-17
COEUR MINING INC P 2014-02-06 2014-12-17
COEUR MINING INC P 2014-04-24 2014-12-17
COEUR MINING INC P 2014-05-29 2014-12-17
KINROSS GOLD CORP NEW F P 2014-09-09 2014-12-17
COMSTOCK MINING INC P 2014-06-18 2014-12-17
HAW PAR CORP LTD ORD F P 2009-05-18 2014-12-18
HAW PAR CORP LTD ORD F P 2009-05-18 2014-12-18
VASTNED RETAIL NV ORD F P 2013-11-06 2014-12-19
VASTNED RETAIL NV ORD F P 2013-12-23 2014-12-19
DIGITAL REALTY TRUST INCREIT P 2013-12-18 2014-12-22
FYFFES PLC ORD F P 2010-04-20 2014-12-22
FYFFES PLC ORD F P 2010-04-20 2014-12-24
FYFFES PLC ORD F P 2010-04-20 2014-12-24
HAW PAR CORP LTD ORD F P 2009-05-18 2014-12-24
HAW PAR CORP LTD ORD F P 2009-05-18 2014-12-24
GOLDCORP INC NEW F P 2013-12-31 2014-12-26
FYFFES PLC ORD F P 2010-04-20 2014-12-29
FYFFES PLC ORD F P 2010-07-21 2014-12-29
FYFFES PLC ORD F P 2010-08-06 2014-12-29
PIMCO TOTAL RETURN P 2014-02-24 2014-10-07
PIMCO LOW DURATION P 2011-06-09 2014-06-03
PIMCO UNCONSTRAINED BD INSTL CLASS P 2009-12-01 2014-02-24
SPDR INDEX SHARES FUND P 2013-12-10 2014-05-27
GREENSPRING FUND P 2002-01-01 2014-05-27
HARTFORD GLOBAL REALTY P 2011-05-11 2014-05-27
JHANCOCK2 GLBL P 2013-03-11 2014-05-27
EATON VANCE FLOATING P 2013-12-13 2014-05-27
FAIRHOLME FUND P 2009-09-01 2014-05-27
HARBOR INTERNATIONAL P 2010-06-30 2014-05-27
IVY ASSET STRATEGY FUND P 2009-04-20 2014-05-27
PIMCO ALL ASSET INST P 2009-04-20 2014-05-27
PIMCO TOTAL RETURN FUND P 2010-06-29 2014-05-27
VANGUARD INTL EXPLORER P 2009-02-27 2014-05-28
VANGUARD TOTAL BOND MARKET P 2007-10-16 2014-05-28
VANGUARD 500 INDEX FD P 2006-09-28 2014-05-28
PIMCO TOTAL RETURN P 2014-01-01 2014-12-10
PIMCO TOTAL RETURN P 2014-12-10 2014-12-12
DOUBLELINE CROSS FIXED INCOME P 2014-12-12 2014-12-17
PIMCO TOTAL RETURN P 2002-01-01 2014-12-10
ROYCE PA MUTUAL FUND P 2002-01-01 2014-12-10
VANGUARD 500 INDEX FD P 2006-09-28 2014-12-17
CAPITAL GAINS DIVIDENDS P    
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 15,132   18,226 -3,094
b 522   640 -118
c 200,268   93,415 106,853
d 54,562   39,654 14,908
e 21,488   17,881 3,607
6,753   5,555 1,198
614   447 167
14,120   11,507 2,613
18,153   17,386 767
3,242   3,105 137
9,151   2,974 6,177
24,664   22,389 2,275
24,663   23,992 671
8   7 1
78,524   75,005 3,519
28,227   27,690 537
16,101   17,507 -1,406
18,380   18,952 -572
2,902   2,843 59
64,511   32,244 32,267
2,615   1,355 1,260
5,231   2,583 2,648
3,923   1,977 1,946
13,183     13,183
7   14 -7
16,507   15,939 568
16,460   16,241 219
3,704   3,662 42
17,619   18,345 -726
115,048   95,784 19,264
11,528   10,015 1,513
47,259   9,302 37,957
27,628   5,288 22,340
21,812   5,605 16,207
36,353   14,431 21,922
30,537   11,355 19,182
5,089   1,743 3,346
26,733   25,980 753
36,347   32,120 4,227
2,272   1,653 619
3,180   1,971 1,209
17,265   10,022 7,243
18     18
16,337   13,917 2,420
1,815   1,545 270
8,169   5,929 2,240
67,475   21,502 45,973
23,110   18,056 5,054
21,124   20,138 986
6,103   5,781 322
28,635   27,011 1,624
14,552   13,529 1,023
3,521   3,135 386
      0
14,185   15,913 -1,728
3,197   3,446 -249
24,468   15,913 8,555
5,514   3,446 2,068
23,891   6,896 16,995
23,891   6,586 17,305
47,709   42,207 5,502
25,173   21,739 3,434
97,916   32,022 65,894
23,966   9,492 14,474
107,520   74,363 33,157
15,299   26,207 -10,908
128,383   130,231 -1,848
86,339   76,255 10,084
12,709   16,173 -3,464
1,816   2,122 -306
3,631   4,209 -578
19,971   21,120 -1,149
45,250   36,354 8,896
10,223   18,958 -8,735
3,786   7,459 -3,673
3,392   3,168 224
8,142   7,588 554
15,605   14,430 1,175
114,949   116,377 -1,428
45,158   45,615 -457
10   10 0
52,877   51,607 1,270
15,581   13,534 2,047
905   1 904
18,740   9,860 8,880
20,236   22,429 -2,193
4   5 -1
22,263   19,778 2,485
2,339   5,948 -3,609
38,916   34,075 4,841
4,073   14,278 -10,205
8,253   18,876 -10,623
2,894   5,792 -2,898
3,858   6,171 -2,313
18,678   26,450 -7,772
3,223   8,296 -5,073
113,653   47,733 65,920
41,974   17,629 24,345
13,241   13,317 -76
9,132   9,112 20
146,456   101,648 44,808
16,354   6,811 9,543
12,390   5,271 7,119
83,142   35,373 47,769
29,289   12,476 16,813
52,848   22,510 30,338
17,794   21,008 -3,214
56,498   23,698 32,800
27,869   9,558 18,311
2,423   991 1,432
415,507   411,625 3,882
35,701   36,036 -335
344,775   330,217 14,558
19,952   17,893 2,059
8,000   7,290 710
10,000   10,236 -236
10,000   9,818 182
10,000   10,042 -42
50,000   35,156 14,844
50,000   33,377 16,623
5,000   3,100 1,900
15,000   13,240 1,760
20,000   20,549 -549
40,000   19,623 20,377
10,000   9,204 796
50,000   36,026 13,974
9,342   9,630 -288
2,538   2,538 0
10,000   10,054 -54
319,581   329,440 -9,859
252,048   202,524 49,524
30,000   20,340 9,660
124,402     124,402
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       -3,094
b       -118
c       106,853
d       14,908
e       3,607
      1,198
      167
      2,613
      767
      137
      6,177
      2,275
      671
      1
      3,519
      537
      -1,406
      -572
      59
      32,267
      1,260
      2,648
      1,946
      13,183
      -7
      568
      219
      42
      -726
      19,264
      1,513
      37,957
      22,340
      16,207
      21,922
      19,182
      3,346
      753
      4,227
      619
      1,209
      7,243
      18
      2,420
      270
      2,240
      45,973
      5,054
      986
      322
      1,624
      1,023
      386
      0
      -1,728
      -249
      8,555
      2,068
      16,995
      17,305
      5,502
      3,434
      65,894
      14,474
      33,157
      -10,908
      -1,848
      10,084
      -3,464
      -306
      -578
      -1,149
      8,896
      -8,735
      -3,673
      224
      554
      1,175
      -1,428
      -457
      0
      1,270
      2,047
      904
      8,880
      -2,193
      -1
      2,485
      -3,609
      4,841
      -10,205
      -10,623
      -2,898
      -2,313
      -7,772
      -5,073
      65,920
      24,345
      -76
      20
      44,808
      9,543
      7,119
      47,769
      16,813
      30,338
      -3,214
      32,800
      18,311
      1,432
      3,882
      -335
      14,558
      2,059
      710
      -236
      182
      -42
      14,844
      16,623
      1,900
      1,760
      -549
      20,377
      796
      13,974
      -288
      0
      -54
      -9,859
      49,524
      9,660
      124,402
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 1,095,147
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 instructions). If (loss), enter -0-
in Part I, line 8 . . . . . . . . . . . . . . . . 		Bracket 3  
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?
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 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))
2013 1,025,218 16,027,622 0.063966
2012 1,007,581 15,784,730 0.063833
2011 1,140,197 15,064,182 0.075689
2010 1,082,755 18,561,540 0.058333
2009 1,018,091 17,809,424 0.057166
2 Total of line 1, column (d) ...................... 2 0.318987
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 0.063797
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 16,843,983
5 Multiply line 4 by line 3....................... 5 1,074,596
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 16,305
7 Add lines 5 and 6......................... 7 1,090,901
8 Enter qualifying distributions from Part XII, line 4.............. 8 1,053,277
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.
Form 990-PF (2014)
Form 990-PF (2014)
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 Bulletand enter “N/A" on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 32,610
hereBulletand 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 32,610
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 32,610
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 12,000
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 12,000
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8 1
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 20,611
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet   RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
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.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
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....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
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?................
    6
    Yes
     
    7
    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..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletMI
    b
    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 .
    8b
    Yes
     
    9
    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 2014 or the taxable year beginning in 2014 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    11
    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 instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletNONE
    14
    The books are in care ofbulletKATHY HUSCHKE Telephone no.bullet (231) 929-2605
    Located atbulletPO BOX 904TRAVERSE CITYMI ZIP+4bullet496850904
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2014, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 6
    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
    No
    1a
    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?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (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)?.................
    (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.).........
    b
    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 instructions)? ........
    1b
     
    No
    .........bullet
    c
    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 2014?.............
    1c
     
    No
    2
    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)):
    a
    At the end of tax year 2014, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2014?...............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    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 instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?........................
    b
    If "Yes," did it have excess business holdings in 2014 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 2014.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    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 2014?
    4b
     
    No
    5a
    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))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)..................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    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 instructions)? ......
    5b
     
     
    .........bullet
    c
    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?............
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.......................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 7
    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 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
    DONALD W OLESON PRESIDENT
    1.00     		0 0 0
    PO BOX 904
    TRAVERSE CITY,MI49685
    GERALD E OLESON VICE-PRESIDENT
    1.00     		0 0 0
    PO BOX 904
    TRAVERSE CITY,MI49685
    RICHARD FORD SECRETARY/TREASURER
    1.00     		0 0 0
    PO BOX 904
    TRAVERSE CITY,MI49685
    JOHN TOBIN DIRECTOR
    1.00     		0 0 0
    PO BOX 904
    TRAVERSE CITY,MI49685
    KATHY HUSCHKE EXECUTIVE DIRECTOR
    32.00     		56,234 0 0
    PO BOX 904
    TRAVERSE CITY,MI49685
    MARTHA WATTS DIRECTOR
    1.00     		0 0 0
    PO BOX 904
    TRAVERSE CITY,MI49685
    DJ OLESON DIRECTOR
    1.00     		0 0 0
    PO BOX 904
    TRAVERSE CITY,MI49685
    BRAD OLESON DIRECTOR
    1.00     		0 0 0
    PO BOX 904
    TRAVERSE CITY,MI49685
    CONNIE DENEWETH DIRECTOR
    1.00     		0 0 0
    PO BOX 904
    TRAVERSE CITY,MI49685
    2 Compensation of five highest-paid employees (other than those included on line 1—see 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...................bullet 0
    3 Five highest-paid independent contractors for professional services (see 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.............bullet0
    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 N/A 0
    2  
    3  
    4  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 8
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 N/A 0
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    9,896,943
    b
    Average of monthly cash balances.......................
    1b
    278,547
    c
    Fair market value of all other assets (see instructions)................
    1c
    6,925,000
    d
    Total (add lines 1a, b, and c).........................
    1d
    17,100,490
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    17,100,490
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    256,507
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    16,843,983
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    842,199
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    842,199
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    32,610
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    32,610
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    809,589
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    809,589
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    809,589
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    1,053,277
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    1,053,277
    5
    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 instructions).................
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    1,053,277
    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 (2014)
    Form 990-PF (2014)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2013     		(c)
    2013     		(d)
    2014
    1 Distributable amount for 2014 from Part XI, line 7 809,589
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2014:
    a From 2009....... 145,056
    b From 2010....... 168,188
    c From 2011....... 416,594
    d From 2012....... 238,666
    e From 2013....... 241,219
    fTotal of lines 3a through e......... 1,209,723
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 1,053,277
    a Applied to 2013, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions).........     		0
    d Applied to 2014 distributable amount..... 809,589
    e Remaining amount distributed out of corpus 243,688
    5 Excess distributions carryover applied to 2014. 0 0
    (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 1,453,411
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		0
    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......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2013. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2014. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8Excess distributions carryover from 2009 not
    applied on line 5 or line 7 (see instructions) ...     		145,056
    9Excess distributions carryover to 2015.
    Subtract lines 7 and 8 from line 6a ......     		1,308,355
    10 Analysis of line 9:
    a Excess from 2010.... 168,188
    b Excess from 2011.... 416,594
    c Excess from 2012.... 238,666
    d Excess from 2013.... 241,219
    e Excess from 2014.... 243,688
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 10
    Part XIV
    Private Operating Foundations (see 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 2014, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    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) 2014 (b) 2013 (c) 2012 (d) 2011
             
    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 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).)
    DONALD W OLESON
    GERALD E OLESON
    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.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    MS KATHY HUSCHKE
    PO BOX 904
    TRAVERSE CITY,MI496850904
    (231) 929-2605
    bThe form in which applications should be submitted and information and materials they should include:
    LETTER FORM - INCLUDE NAME, PURPOSE, AMOUNT, ETC.
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    PREFERENCE IS GIVEN TO CHARITABLE AND EXEMPT ORGANIZATIONS WHICH ARE LOCATED IN THE NORTHWESTERN AREA OF MICHIGAN.
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 11
    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)
    aPaid during the year
    BENZIE AREA CHRISTIAN NEIGHBORS
    PO BOX 93
    BENZONIA,MI49616     		NONE OTHER NONPROFIT GRANT FOR FOOD PANTRY AND YEAR END GRANT FOR NEEDY PEOPLE 10,000
    BIG BROTHERS BIG SISTERS
    521 S UNION STREET
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR OUTREACH STAFF 10,000
    CARMELITE MONASTERY
    3501 SILVER LAKE ROAD
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR REPAIRS 6,000
    CARMELITE MONASTERY
    3501 SILVER LAKE ROAD
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT DIRECTORS CHOICE GRANT 5,000
    CENTRAL UNITED METHODIST CHURCH
    222 CASS ST
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT DIRECTORS CHOICE GRANT FOR COMMUNITY OUTREACH 2,500
    CHILD & FAMILY SERVICES NW MI
    3785 VETERANS DRIVE
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR MENTAL HEALTH SERVICES AND BROWN BAG 22,500
    CHILD & FAMILY SERVICES NW MI
    3785 VETERANS DRIVE
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT DIRECTORS CHOICE GRANT 3,000
    CHILD & FAMILY SERVICES NW MI
    3785 VETERANS DRIVE
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT YEAR END GRANT FOR PETE'S PLACE 5,000
    CONSERVATION RESOURCE ALLIANCE
    10850 TRAVERSE HIGHWAY SUITE 1111
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR MAPLE AND JORDAN RIVER IMPROVEMENTS 20,000
    CROOKED TREE ARTS COUNCIL
    461 E MITCHELL
    PETOSKEY,MI49770     		NONE OTHER NONPROFIT GRANT FOR SUMMER YOUTH PROGRAMS 2,000
    DISABILITY NETWORK NORTHERN MICHIGAN
    415 E EIGHTH ST
    TRAVERSE CITY,MI49686     		NONE OTHER NONPROFIT DIRECTORS CHOICE GRANT FOR ACCESS APP PROJECT 1,100
    FATHER FRED ANGEL CHILD CARE
    834 HASTINGS STREET
    TRAVERSE CITY,MI49686     		NONE OTHER NONPROFIT GRANT FOR NEEDED ITEMS FOR CHILD CARE 4,000
    FATHER FRED FOUNDATION
    P O BOX 2260
    TRAVERSE CITY,MI49685     		NONE OTHER NONPROFIT DIRECTORS CHOICE AND MATCHING GRANT FOR FOOD DRIVE 33,000
    FORGOTTEN MAN MINISTRIES
    3940 FRUIT RIDGE NW
    GRAND RAPIDS,MI49544     		NONE OTHER NONPROFIT JAIL MINISTRY PROGRAM 1,000
    FREEDOM BUILDERS
    880 MUNSON AVE
    TRAVERSE CITY,MI49686     		NONE OTHER NONPROFIT GRANT FOR SUPPORT AND PROGRAMS DIRECTORS CHOICE 2,500
    FRIENDS OF PETOSKEY PUBLIC LIBRARY
    500 EAST MITCHELL STREET
    PETOSKEY,MI49770     		NONE OTHER NONPROFIT DIRECTORS CHOICE FOR LIBRARY NEEDS 500
    FRIENDSHIP CENTERS OF EMMET COUNTY
    1322 ANDERSON RD
    PETOSKEY,MI49770     		NONE OTHER NONPROFIT GRANT FOR NEW MEALS ON WHEELS VAN 5,000
    GLEN ARBOR ART ASSOCIATION
    PO BOX 305
    GLEN ARBOR,MI49636     		NONE OTHER NONPROFIT GRANT FOR MANITOU MUSIC FESTIVAL DUNE CLIMB CONCERT 2,000
    GOODWILL INDUSTRIES
    2279 S AIRPORT ROAD
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT FOOD RESCUE AND GOODWILL INN 32,000
    GOODWILL INDUSTRIES
    2279 S AIRPORT ROAD
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR FOOD RESCUE 1,000
    GRACE EPISCOPAL CHURCH
    341 WASHINGTON STREET
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR JUBILEE HOUSE 16,000
    GRAND TRAVERSE AREA CATHOLIC SCHOOLS
    123 E 11TH STREET
    TRAVERSE CITY,MI49684     		NONE SCHOOL GRANT FOR NEEDS AND EQUIPMENT 27,500
    GRAND TRAVERSE CONSERVATION DISTRICT
    1450 CASS ROAD
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR GRAND TRAVERSE STEWARDSHIP INITIATIVE 22,500
    GRAND TRAVERSE REGIONAL LAND CONSERVANCY
    3860 N LONG LAKE ROAD SUITE D
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR STEWARDSHIP, PARKING LOT, AND DIRECTORS CHOICE 76,000
    HABITAT FOR HUMANITY
    PO BOX 5412
    TRAVERSE CITY,MI49686     		NONE OTHER NONPROFIT AND GRANT FOR DEPOT PROJECT AND DIRECTORS CHOICE 25,000
    LEELANAU CONSERVANCY
    105 N FIRST ST
    LELAND,MI49654     		NONE OTHER NONPROFIT GRANT FOR CEDAR LAKE BOARDWALK AND LEGACY CAMPAIGN 50,000
    LONG LAKE TOWNSHIP
    8870 N LONG LAKE RD
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT DIRECTORS CHOICE GRANT FOR TIMBERS 4,000
    LOVE INC MANISTEE
    PO BOX 28
    MANISTEE,MI49660     		NONE OTHER NONPROFIT DIRECTORS CHOICE GRANT FOR SUPPORT 7,000
    LOVE INC TRAVERSE CITY
    1109 E FRONT STREET
    TRAVERSE CITY,MI49686     		NONE OTHER NONPROFIT YEAR END GRANT 5,000
    MANA FOOD PROJECT
    8791 MCBRIDE PARK COURT
    HARBOR SPRINGS,MI49740     		NONE OTHER NONPROFIT GRANT FOR FOOD 4 KIDS BACKPACK PROGRAM, DIRECTOR'S CHOICE, AND YEAR END. 22,000
    MANISTEE AREA COMMUNITY FOUNDATION
    332 FIRST STREET SUITE 101
    MANISTEE,MI49660     		NONE OTHER NONPROFIT GRANT FOR VOGUE THEATER AND PROJECTS 70,000
    MICHAEL'S PLACE
    1144 BOON STREET SUITE A
    TRAVERSE CITY,MI49686     		NONE OTHER NONPROFIT OPERATING SUPPORT 6,500
    MICHIGAN LAND USE INSTITUTE
    148 E FRONT STREET
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR 10 CENTS A MEAL FOR KIDS SCHOOL LUNCH PROGRAM 10,000
    MUNSON HEALTHCARE REGIONAL FOUNDATION
    210 BEAUMONT PLACE
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR CANCER CENTER 3,000
    NATIONAL CHERRY FESTIVAL
    250 EAST FRONT STREET STE 301
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT FMV OF RENT CONCESSION 26,000
    NORTHERN MI REGIONAL HOSPITAL FOUNDATION
    300 CONNABLE AVE
    PETOSKEY,MI49770     		NONE OTHER NONPROFIT GRANT FOR PEDIATRIC MONITORING EQUIPMENT 10,000
    NORTHWEST MICHIGAN COMM ACTION AGENCY
    3963 THREE MILE ROAD
    TRAVERSE CITY,MI49686     		NONE OTHER NONPROFIT MATCHING GRANT FOR MEALS ON WHEELS 11,000
    NORTHWESTEN MICHIGAN COLLEGE FOUNDATION
    1710 EAST FRONT STREET
    TRAVERSE CITY,MI49686     		NONE COLLEGE GRANT FOR SPECIAL PROJECTS AND DATA BASE FOR ALUMNI RELATIONS 49,000
    PARAKLESIS INC
    500 S UNION ST 4
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR EQUINE AND ART THERAPY FOR CHILDREN 8,900
    SALVATION ARMY MANISTEE
    PO BOX 681
    LUDINGTON,MI49431     		NONE OTHER NONPROFIT GRANT FOR YEAR END NEEDED ITEMS FOR CLIENTS 6,500
    ST FRANCIS CATHOLIC CHURCH
    1025 S UNION STREET
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR FOOD PANTRY 5,000
    ST MARY SCHOOL
    PO BOX 340
    LAKE LEELANAU,MI49653     		NONE SCHOOL GRANT FOR TECHNOLOGY UPGRADES 10,000
    TART TRAILS
    PO BOX 252
    TRAVERSE CITY,MI49685     		NONE OTHER NONPROFIT SLEEPINGBEAR HERITAGE TRAIL, REPLACEMENT BRIDGE ON LEELANAU TRAIL 20,000
    TCAPS
    412 WEBSTER
    TRAVERSE CITY,MI49684     		NONE SCHOOL FMV OF RENT CONCESSION 14,000
    TRAVERSE CITY CHRISTIAN SCHOOL
    753 EMERSON ROAD
    TRAVERSE CITY,MI49696     		NONE SCHOOL GRANT FOR UNIFORMS AND ATHLETIC EQUIPMENT 5,000
    TRAVERSE SYMPHONY ORCHESTRA
    300 EAST FRONT ST STE 230
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR FAMILY CONCERTS AND STUDENT TRAINING 5,000
    UNITED WAY NW MICHIGAN
    521 S UNION STREET
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT DIRECTORS CHOICE GRANT FOR COURTYARD ENCLOSURE 2,000
    WEST SHORE HEALTH CARE FOUNDATION
    1465 E PARKDALE AVE
    MANISTEE,MI49660     		NONE OTHER NONPROFIT GRANT FOR INFANT WARMER 10,000
    WINGS OF MERCY
    100 SOUTH PINE STREET SUITE 393
    ZEELAND,MI49464     		NONE OTHER NONPROFIT DIRECTORS CHOICE GRANT 1,000
    WOMEN'S RESOURCE CENTER OF N MICHIGAN
    423 PORTER STREET
    PETOSKEY,MI49770     		NONE OTHER NONPROFIT GRANT FOR SAFE HOME SHELTER 7,000
    ZONTA
    715 EAST FRONT STREET
    TRAVERSE CITY,MI49686     		NONE OTHER NONPROFIT FMV OF RENT CONCESSION 26,856
    ARTS AND CULTURAL ALLIANCE OF MANISTEE
    11579 RIVER ROAD
    BRETHREN,MI49619     		NONE OTHER NONPROFIT GRANT FOR COPEMISH HISTORICAL SOCIETY 9,000
    BETHANY CHRISTIAN SERVICES
    1055 CARRIAGE HILL DRIVE SUITE 2
    TRAVERSE CITY,MI49686     		NONE OTHER NONPROFIT SAFE FAMILIES PROGRAM 5,000
    BETHANY LUTHERAN CHURCH
    P O BOX 85
    KALEVA,MI49645     		NONE   GRANT FOR FOOD PANTRY 1,000
    CHILD & FAMILY SERVICES NW MI
    3785 VETERANS DRIVE
    TRAVERSE CITY,MI49637     		NONE OTHER NONPROFIT GRANT FOR WINTER BOOTS AND CLOTHING 3,000
    CATHOLIC COMMUNITY OF MANISTEE
    254 6TH STREET
    MANISTEE,MI49660     		NONE OTHER NONPROFIT GRANT FOR SCOREBOARD 15,000
    CHALLENGE MOUNTAIN OF WALLOON HILLS INC
    P O BOX 735
    BOYNE CITY,MI49712     		NONE OTHER NONPROFIT GRANT FOR TRANSITION ZONE SUMMER CAMP 2,000
    CHERRYLAND HUMANE SOCIETY
    1750 AHLBERG ROAD
    TRAVERSE CITY,MI49686     		NONE OTHER NONPROFIT YEAR END GRANT 2,000
    CITY OF CHARLEVOIX
    210 STATE STREET
    CHARLEVOIX,MI49686     		NONE OTHER NONPROFIT GRANT FOR LAKE TO LAKE TRAIL 20,000
    CITY OPERA HOUSE HERITAGE ASSOC INC
    106 E FRONT STREET
    TRAVERSE CITY,MI49685     		NONE OTHER NONPROFIT GRANT FOR THIRD FLOOR RESTROOMS 10,000
    COUNCIL OF MICHIGAN FOUNDATIONS
    ONE SOUTH HARBOR AVENUE SUITE 3
    GRAND HAVEN,MI49417     		NONE   GRANT FOR CMF CONFERENCE 5,000
    FRIENDS OF THE BETSIE RIVER TRAIL
    PO BOX 474
    BEULAH,MI49617     		NONE OTHER NONPROFIT GRANT FOR REPAVING DAMAGED AREAS TO THE TRAIL 5,000
    GOOD SAMARITAN FAMILY SERVICES
    PO BOX 206
    ELLSWORTH,MI49729     		NONE OTHER NONPROFIT CRIBS AND CAR SEATS; HEATING, ELECTRIC, WATER 19,000
    GRAND TRAVERSE PAVILIONS FOUNDATION
    1000 PAVILIONS CIRCLE
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR HEALING GARDEN 5,000
    GRAND TRAVERSE SHERIFF'S OFFICE
    851 WOODMERE
    TRAVERSE CITY,MI49686     		NONE OTHER NONPROFIT GRANT FOR K-9 DOG FOR EXPLOSIVES 9,000
    HARBOR SPRINGS PUBLIC SCHOOLS
    800 STATE ROAD
    HARBOR SPRINGS,MI49740     		NONE OTHER NONPROFIT GRANT FOR ITEMS AND EQUIPMENT FOR AFTER SCHOOL PROGRAM 8,000
    HOLY ROSARY CHURCH
    6982 S SCHOMBERG ROAD
    CEDAR,MI49621     		NONE OTHER NONPROFIT DIRECTORS CHOICE GRANT FOR FOOD PANTRY 1,000
    HOMEWARD BOUND ANIMAL SHELTER
    736 PAWS TRAIL
    MANISTEE,MI49660     		NONE OTHER NONPROFIT YEAR END GRANT FOR OPERATING AND PROGRAM SUPPORT 2,000
    INLAND SEAS EDUCATION CENTER
    P O BOX 218
    SUTTONS BAY,MI49682     		NONE OTHER NONPROFIT GRANT FOR LEAD SCIENTIST 10,000
    LIAA
    324 MUNSON AVENUE
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR OPERATING SUPPORT 5,000
    LITTLE MARY'S HOSPITALITY HOUSE
    1580 SEAMAN ROAD
    WELLSTON,MI49689     		NONE   GRANT FOR REPAIRS AND UPGRADES 10,000
    MARITIME HERITAGE ALLIANCE
    322 SIXTH STREET
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR SHIP CAPTAIN FOR SUMMER PROGRAMS 10,000
    MICHIGAN LEGACY ART PARK
    12500 CRYSTAL MOUNTAIN DRIVE
    THOMPSONVILLE,MI49683     		NONE OTHER NONPROFIT GRANT FOR PARK EXPANSION 5,000
    MT HOLIDAY
    3100 HOLIDAY ROAD
    TRAVERSE CITY,MI49686     		NONE OTHER NONPROFIT GRANT FOR ZIP LINE AND REPAIRS AND MAINTENANCE 17,000
    NORTHRIDGE COMMUNITY CHURCH
    6672 MILTON ROAD
    ALANSON,MI49706     		NONE OTHER NONPROFIT DIRECTORS CHOICE GRANT FOR AFTER SCHOOL MEALS PROGRAM 500
    OLD TOWN PLAYHOUSE
    148 E EIGHTH STREET
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR FACILITIES EXPANSION 10,000
    PETER DOUGHERTY SOCIETY
    18459 MISSION ROAD PO BOX 101
    OLD MISSION,MI49673     		NONE OTHER NONPROFIT GRANT FOR DOUGHERTY HOUSE 5,000
    ROTARY CHARITIES FOUNDATION-NORTHSKY
    202 EAST GRANDVIEW PARKWAY SUITE
    200
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR SUPPORT FOR NORTHSKY 5,000
    SEEDS
    PO BOX 2454
    TRAVERSE CITY,MI49685     		NONE OTHER NONPROFIT GRANT FOR SUMMER YOUTH CORPS AND YOUTH TRIP 16,000
    THE ROCK OF KINGSLEY INC
    8443 KINGSLEY ROAD
    KINGSLEY,MI49649     		NONE OTHER NONPROFIT GRANT FOR TECHNOLOGY AND PROGRAMS 5,200
    THE SAMARITAN'S CLOSET
    PO BOX 1136
    LELAND,MI49654     		NONE OTHER NONPROFIT GRANT FOR LAUNDRY PROJECT 3,000
    THE WATERSHED CENTER
    13272 W BAY SHORE DRIVE
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR KID'S CREEK RESTORATION 15,000
    TRAVERSE BAY CHILD ADVOCACY CENTER
    121 E FRONT STREET SUITE 301
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR THERAPIST AND YEAR END GRANT 17,500
    TRAVERSE CITY LITTLE LEAGUE
    415 MUNSON AVE
    TRAVERSE CITY,MI49696     		NONE   GRANT FOR BASEBALL DIAMONDS AT BOWERS HARBOR PAR 5,000
    TRAVERSE HEALTH CLINIC
    3155 LOGAN VALLEY ROAD
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR RENOVATIONS TO CLINIC 10,500
    Total .................................bullet 3a 1,000,556
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ............     		    14 11,312  
    4 Dividends and interest from securities....     14 330,916  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....     16 254,685  
    6
    Net rental income or (loss) from personal property .............     		         
    7 Other investment income.....     01 5,000  
    8
    Gain or (loss) from sales of assets other than inventory .............     		    18 1,095,147  
    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).. 0 1,697,060 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    131,697,060
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political
    Yes
    No
    organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    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
    2a
    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?...........
    b
    If "Yes," complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    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) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's namebullet



    Firm's addressbullet







         		Firm's EINbullet
    Phone no.
    Form 990-PF (2014)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors
    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Information about Schedule B (Form 990, 990-EZ, or 990-PF) and its instructions is at www.irs.gov/form990.
    OMB No. 1545-0047
    2014
    Name of the organization
    OLESON FOUNDATION
     
    Employer identification number

    38-6083080
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ





    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution. An organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it does not meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Page 2
    Name of organization
    OLESON FOUNDATION
          		Employer identification number

    38-6083080
    Part I
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
     
     

    GDO INVESTMENTS LLC  
    P O BOX 72
     
    TRAVERSE CITY, MI49685

    		$208,120


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
     
     

    GDO INVESTMENTS LLC  
    P O BOX 72
     
    TRAVERSE CITY, MI49685

    		$38,910


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    3
     
     

    GDO INVESTMENTS LLC  
    P O BOX 72
     
    TRAVERSE CITY, MI49685

    		$147,741


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    4
     
     

    GDO INVESTMENTS LLC  
    P O BOX 72
     
    TRAVERSE CITY, MI49685

    		$64,522


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    5
     
     

    GDO INVESTMENTS LLC  
    P O BOX 72
     
    TRAVERSE CITY, MI49685

    		$11,840


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    6
     
     

    GDO INVESTMENTS LLC  
    P O BOX 72
     
    TRAVERSE CITY, MI49685

    		$96,376


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Name of organization
    OLESON FOUNDATION
          		Employer identification number

    38-6083080
    Part I
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    7
     
     

    GDO INVESTMENTS LLC  
    P O BOX 72
     
    TRAVERSE CITY, MI49685

    		$434,116


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    8
     
     

    GDO INVESTMENTS LLC  
    P O BOX 72
     
    TRAVERSE CITY, MI49685

    		$168,138


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    9
     
     

    GDO INVESTMENTS LLC  
    P O BOX 72
     
    TRAVERSE CITY, MI49685

    		$52,020


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    10
     
     

    GDO INVESTMENTS LLC  
    P O BOX 72
     
    TRAVERSE CITY, MI49685

    		$81,932


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    11
     
     

    GDO INVESTMENTS LLC  
    P O BOX 72
     
    TRAVERSE CITY, MI49685

    		$87,072


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    12
     
     

    GDO INVESTMENTS LLC  
    P O BOX 72
     
    TRAVERSE CITY, MI49685

    		$22,138


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Name of organization
    OLESON FOUNDATION
          		Employer identification number

    38-6083080
    Part I
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    13
     
     

    GDO INVESTMENTS LLC  
    P O BOX 72
     
    TRAVERSE CITY, MI49685

    		$121,049


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    14
     
     

    GDO INVESTMENTS LLC  
    P O BOX 72
     
    TRAVERSE CITY, MI49685

    		$94,997


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    15
     
     

    GDO INVESTMENTS LLC  
    P O BOX 72
     
    TRAVERSE CITY, MI49685

    		$84,990


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    16
     
     

    GDO INVESTMENTS LLC  
    P O BOX 72
     
    TRAVERSE CITY, MI49685

    		$176,290


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    17
     
     

    GDO INVESTMENTS LLC  
    P O BOX 72
     
    TRAVERSE CITY, MI49685

    		$109,588


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Page 3
    Name of organization
    OLESON FOUNDATION
          		Employer identification number

    38-6083080
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    1
    		 16,234 SHARES OF COHEN & STEERS CLOSED END $ 208,120 2014-12-14
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    2
    		 3,000 SHARES OF DELAWARE INVESTMENTS $ 38,910 2014-12-14
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    3
    		 2,220 SHARES OF DIGITAL REALTY TRUST INC $ 147,741 2014-12-14
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    4
    		 13,200 DOVER SADDLERY INC. $ 64,522 2014-12-14
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    5
    		 2,070 SHARES OF FIRST FED N MICHIGAN BA $ 11,840 2014-12-14
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    6
    		 80,000 SHARES OF FYFFES PLC ORD F $ 96,376 2014-12-14
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Name of organization
    OLESON FOUNDATION
          		Employer identification number

    38-6083080
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    7
    		 31,850 SHARES OF HANCOCK JOHN PAT PREM II PREM DIVIDEND FD $ 434,116 2014-12-14
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    8
    		 25,900 SHARES OF HAW PAR CORP LTD ORD F $ 168,138 2014-12-14
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    9
    		 8,000 SHARES OF HAW PAR CORP LTD ORD F $ 52,020 2014-12-14
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    10
    		 1,530 SHARES OF LIFETIME FITNESS $ 81,932 2014-12-14
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    11
    		 960,000 SHARES OF LIPPO KARAWACI (LPKR IJ) $ 87,072 2014-12-14
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    12
    		 1,750 SHARES OF NUVEEN INTER DURATION QUALITY MUNI TERM FUND $ 22,138 2014-12-14
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Name of organization
    OLESON FOUNDATION
          		Employer identification number

    38-6083080
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    13
    		 21,850 SHARES OF RHJ INTERNATIONAL $ 121,049 2014-12-14
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    14
    		 75,000 SHARES OF TOTAL PRODUCE PLC ORD F $ 94,997 2014-12-14
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    15
    		 8,900 SHARES OF TREASURY GROUP LTD $ 84,990 2014-12-14
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    16
    		 15,925 SHARES OF UTI WORLDWIDE, INC. $ 176,290 2014-12-14
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    17
    		 15,350 SHARES OF WESTFIELD GROUP $ 109,588 2014-12-14
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Page 4
    Name of organization
    OLESON FOUNDATION
          		Employer identification number

    38-6083080
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10)
    that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2014 AccountingFeesSchedule
    Name:
    OLESON FOUNDATION
    EIN: 38-6083080
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 19,823 19,823   0

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2014 DepreciationSchedule
    Name:
    OLESON FOUNDATION
    EIN: 38-6083080
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    BUILDING AND IMPROVEMENTS 1994-02-10 3,340,101 1,481,803 SL 0 % 87,563 87,563    
    EQUIPMENT - ASSET #4, 5, 21, 25, 26 2005-08-31 62,030 62,030 SL 0 % 0 0    
    EQUIPMENT - ASSET #27 2007-09-21 17,600 17,600 200SL 0 % 0 0    
    HVAC PREMIER - ASSET #28 2007-12-01 5,459 5,157 200SL 0 % 302 302    
    LAND 1994-02-10 800,000   L   0 0    
    EQUIPMENT - ASSET #29 2009-04-30 27,298 21,660 200SL 0 % 2,416 2,416    
    EQUIPMENT - ASSET #30 2009-06-30 7,078 5,498 200SL 0 % 632 632    
    EQUIPMENT - ASSET #31 2010-08-31 14,050 9,416 200SL 0 % 1,325 1,325    
    LAND 2011-11-16 2,346,858   L   0 0    

    TY 2014 InvestmentsLandSchedule2
    Name:
    OLESON FOUNDATION
    EIN: 38-6083080
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    BUILDING AND IMPROVEMENTS 3,340,101 1,569,366 1,770,735  
    EQUIPMENT - ASSET #4, 5, 21, 25, 26 62,030 62,030 0  
    EQUIPMENT - ASSET #27 17,600 17,600 0  
    HVAC PREMIER - ASSET #28 5,459 5,459 0  
    LAND 800,000 0 800,000  
    EQUIPMENT - ASSET #29 27,298 24,076 3,222  
    EQUIPMENT - ASSET #30 7,078 6,130 948  
    EQUIPMENT - ASSET #31 14,050 10,741 3,309  
    LAND 2,346,858 0 2,346,858  

    TY 2014 InvestmentsOtherSchedule2
    Name:
    OLESON FOUNDATION
    EIN: 38-6083080
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    INVESTMENT ACCOUNTS AT COST 10,756,810 11,631,821

    TY 2014 OtherAssetsSchedule
    Name:
    OLESON FOUNDATION
    EIN: 38-6083080
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    LAND (CHARITABLE PURPOSES) 95,848 95,848 100,000
    BUILDINGS (CHARITABLE PURPOSES) 4,520 4,520  
    EQUIPMENT (CHARITABLE PURPOSES) 1,500 1,500  


    TY 2014 OtherDecreasesSchedule
    Name:
    OLESON FOUNDATION
    EIN: 38-6083080
    Description Amount
       


    TY 2014 OtherExpensesSchedule
    Name:
    OLESON FOUNDATION
    EIN: 38-6083080
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MEMBERSHIPS/DUES 4,225 2,113   2,112
    OFFICE EXPENSE 3,316 1,658   1,658
    INSURANCE 1,251 626   625
    MISCELLANEOUS 2,207 1,104   1,103
    INSURANCE, REPAIRS,CLEANING, UTILITIES AND MISCELLANEOUS 267,464 267,464   0


    TY 2014 OtherIncomeSchedule2
    Name:
    OLESON FOUNDATION
    EIN: 38-6083080
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    MISCELLANEOUS INCOME 5,000 5,000 5,000


    TY 2014 OtherProfessionalFeesSchedule
    Name:
    OLESON FOUNDATION
    EIN: 38-6083080
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TRUST & INVESTMENT FEES-IWM 10,468 10,468   0
    TRUST & INVESTMENT FEES-IPEX/SCHWAB 13,836 13,836   0
    REAL ESTATE MANAGEMENT FEES 55,504 55,504   0


    TY 2014 TaxesSchedule
    Name:
    OLESON FOUNDATION
    EIN: 38-6083080
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL EXCISE TAX 8,691 0   0
    PAYROLL TAXES 4,329 1,082   3,247
    REAL ESTATE TAXES 156,387 156,387   0