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.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
OLESON FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO 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. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$23,459,786J Accounting method:
 
(Part I, column (d) must be on cash basis.)
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) 3,600
2 Check bullet.............
3 Interest on savings and temporary cash investments 29 29  
4 Dividends and interest from securities... 358,852 358,852  
5a Gross rents............ 810,531 810,531  
b Net rental income or (loss) 389,043
6a Net gain or (loss) from sale of assets not on line 10 975,144
b Gross sales price for all assets on line 6a 17,587,293
7 Capital gain net income (from Part IV, line 2)... 975,144
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........ 2,148,156 2,144,556  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 65,336 16,334   49,002
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 10,123 0   10,123
b Accounting fees (attach schedule)....... Click to see attachment 13,761 13,761   0
c Other professional fees (attach schedule).... Click to see attachment 97,094 97,094   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 209,412 187,884   2,767
19 Depreciation (attach schedule) and depletion... Click to see attachment 81,852 81,852  
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 92,259 90,191   2,068
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 573,437 488,916   65,760
25 Contributions, gifts, grants paid....... 667,136 667,136
26 Total expenses and disbursements. Add lines 24 and 25 1,240,573 488,916   732,896
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 907,583
b Net investment income (if negative, enter -0-) 1,655,640
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
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............. 437,973 301,891 301,891
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 bullet7,011,329
Less: accumulated depreciation (attach schedule) bullet2,207,247 4,873,060 Click to see attachment4,804,082 4,369,605
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 15,701,617 Click to see attachment16,818,871 18,775,290
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 attachment13,000
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 21,114,518 22,026,712 23,459,786
Liabilities 17 Accounts payable and accrued expenses.......... 6,124 2,232
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)......... 6,124 2,232
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 21,108,394 22,024,480
29 Total net assets or fund balances (see instructions)..... 21,108,394 22,024,480
30 Total liabilities and net assets/fund balances (see instructions). 21,114,518 22,026,712
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 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
21,108,394
2
Enter amount from Part I, line 27a .....................
2
907,583
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
8,503
4
Add lines 1, 2, and 3 ..........................
4
22,024,480
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
22,024,480
Form 990-PF (2020)
Form 990-PF (2020)
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 DFA EMERGING MKTS CORE EQTY P   2020-04-20
b DOUBLELINE CORE FIXED INCOME P    
c EATON VANCE FLOATING RATE & HIGH INC P   2020-04-20
d T ROWE PRICE OVERESAS STOCK FUND P   2020-04-20
e T. ROWE PRICE INSTL HIGH YIELD P   2020-12-17
TEMPLETON GLOBAL BOND FUND P   2020-04-20
INVESCO FTSE RAFI DEVELOPED MARKETS P   2020-04-20
T ROWE PRICE OVERESAS STOCK FUND P   2020-04-20
T. ROWE PRICE INSTL HIGH YIELD P   2020-12-17
TEMPLETON GLOBAL BOND FUND P   2020-04-20
VANGUARD EXTENDED MARKET INDEX FD P   2020-04-20
VANGUARD FTSE ALL WORLD EX US ETF P   2020-04-20
VANGUARD TOTAL BOND MARKET INDEX ADM P   2020-10-29
VANGUARD 500 INDEX FD ADMIRAL SHRS P   2020-04-20
VANGUARD EXTENDED MARKET INDEX FD P   2020-04-20
VANGUARD 500 INDEX FD ADMIRAL SHRS P   2020-04-20
DFA EMERGING MKTS CORE EQTY P   2020-04-20
EATON VANCE FLOATING RATE & HIGH INC P   2020-04-20
VANGUARD TOTAL BOND MARKET INDEX ADM P   2020-10-29
DOUBLELINE CORE FIXED INCOME P   2020-10-29
VANGUARD TOTAL BOND MARKET INDEX ADM P   2020-12-17
DFA GLBL REAL ESTATE SEC P   2020-04-20
DIAMOND HILL LONG SHORT FUND CL P   2020-04-20
INVESCO BALANCED RISK ALLOC FD CL P   2020-04-20
PIMCO ALL ASSET INSTL CL P   2020-04-20
361 GLBL LONG SHORT EQTY FD P   2020-04-20
DFA GLBL REAL ESTATE SEC P   2020-04-20
DIAMOND HILL LONG SHORT FUND CL P   2020-04-20
INVESCO BALANCED RISK ALLOC FD CL P   2020-04-20
PIMCO ALL ASSET INSTL CL P   2020-04-20
361 GLBL LONG SHORT EQTY FD P   2020-04-20
PIMCO LOW DURATION INCOME INSTITUTIONAL P   2020-03-11
TEMPLETON GLOBAL BOND ADVISOR CLASS P   2020-06-30
WISDOMTREE TR US DIVID EX FNCL P   2020-05-29
MERCER - PUBLICLY TRADED SECURITIES P    
MERCER ADJUST TO TAX COST P    
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 2,871   3,550 -679
b 1,126,062   1,084,589 41,473
c 2,812   3,197 -385
d 4,380   5,643 -1,263
e 292,521   273,168 19,353
6,627   8,607 -1,980
135,972   165,850 -29,878
203,315   261,949 -58,634
91,038   85,015 6,023
110,496   143,505 -33,009
279,909   249,278 30,631
187,469   211,027 -23,558
209,642   205,066 4,576
1,066,117   626,275 439,842
3,600   3,206 394
20,811   12,225 8,586
105,575   130,550 -24,975
55,888   63,533 -7,645
520,358   509,001 11,357
323,495   313,690 9,805
736,035   716,870 19,165
6,613   7,324 -711
4,404   4,449 -45
7,846   9,369 -1,523
2,336   2,529 -193
199   225 -26
91,744   101,607 -9,863
68,747   69,456 -709
68,659   81,980 -13,321
72,110   78,042 -5,932
67,968   77,140 -9,172
49,975   52,108 -2,133
145,252   167,813 -22,561
153,713   104,282 49,431
11,300,674   10,780,031 520,643
39,308     39,308
22,752     22,752
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       -679
b       41,473
c       -385
d       -1,263
e       19,353
      -1,980
      -29,878
      -58,634
      6,023
      -33,009
      30,631
      -23,558
      4,576
      439,842
      394
      8,586
      -24,975
      -7,645
      11,357
      9,805
      19,165
      -711
      -45
      -1,523
      -193
      -26
      -9,863
      -709
      -13,321
      -5,932
      -9,172
      -2,133
      -22,561
      49,431
      520,643
      39,308
      22,752
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 2 975,144
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
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
Form 990-PF (2020)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 23,013
c All other domestic foundations enter 1.39% 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 23,013
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 23,013
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 23,380
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 5,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 28,380
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 5,367
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet5,367 RefundedBullet 11 0
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 the instructions
for the 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 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    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 addressbulletOLESONFOUNDATION.ORG
    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 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2020, 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 the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    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
     
     
    ........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 2020?.............
    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 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    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 2020 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 2020.)..................
    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 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (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
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    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
    1.00     		0 0 0
    PO BOX 904
    TRAVERSE CITY,MI49685
    JOHN TOBIN FINANCE LIASON
    1.00     		0 0 0
    PO BOX 904
    TRAVERSE CITY,MI49685
    KATHY HUSCHKE EXECUTIVE DIRECTOR
    32.00     		65,336 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
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    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  
    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
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 8
    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
    16,947,375
    b
    Average of monthly cash balances.......................
    1b
    486,298
    c
    Fair market value of all other assets (see instructions)................
    1c
    4,382,605
    d
    Total (add lines 1a, b, and c).........................
    1d
    21,816,278
    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
    21,816,278
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    327,244
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    21,489,034
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,074,452
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    1,074,452
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    23,013
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    23,013
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,051,439
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    1,051,439
    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
    1,051,439
    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
    732,896
    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
    732,896
    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
    732,896
    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 (2020)
    Form 990-PF (2020)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2019     		(c)
    2019     		(d)
    2020
    1 Distributable amount for 2020 from Part XI, line 7 1,051,439
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015...... 378,419
    b From 2016......  
    c From 2017......  
    d From 2018......  
    e From 2019......  
    fTotal of lines 3a through e........ 378,419
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 732,896
    a Applied to 2019, 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 2020 distributable amount..... 732,896
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2020. 318,543 318,543
    (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 59,876
    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 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		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
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		59,876
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017....  
    c Excess from 2018....  
    d Excess from 2019....  
    e Excess from 2020....  
    Form 990-PF (2020)
    Form 990-PF (2020)
    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 2020, 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) 2020 (b) 2019 (c) 2018 (d) 2017
             
    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 foundation 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:
    APPLICATION FORM POSTED ON FOUNDATION'S WEBSITE
    cAny submission deadlines:
    APRIL 1ST OF EACH CALENDAR YEAR
    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 NORTHWESTERN LOWER MICHIGAN.
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    ACME CHRISTIAN THRIFT STOREFOOD PANTRY
    8925 M-72
    WILLIAMSBURG,MI49690     		NONE OTHER NONPROFIT REFRIGERATORS 4,000
    ANGEL CARE CHILD CARE
    834 HASTINGS STREET
    TRAVERSE CITY,MI49686     		NONE OTHER NONPROFIT GRANT FOR EQUIPMENT UPGRADES 9,000
    BENZIE AREA CHRISTIAN NEIGHBORS
    PO BOX 93
    BENZONIA,MI79616     		NONE OTHER NONPROFIT DIRECTORS CHOICE GRANT 25,000
    BIG BROTHERS BIG SISTERS
    900 E FRONT STR 125
    TRAVERSE CITY,MI49686     		NONE OTHER NONPROFIT DIRECTORS CHOICE GRANT 8,500
    BOTANICAL GARDENS OF NORTHWEST MICHIGAN
    1490 RED DRIVE
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR LIGHTING FOR GARDENS 12,000
    BRICKWAYS
    935 BARLOW ST
    TRAVERSE CITY,MI49686     		NONE OTHER NONPROFIT DIRECTORS CHOICE GRANT 1,000
    CARMELITE MONASTRY
    3501 SILVER LAKE RD
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT DIRCETORS CHOICE GRANT 5,000
    CHARLEVOIX COUNTY COMMUNITY FOUNDATION
    301 WATER ST
    EAST JORDAN,MI49727     		NONE OTHER NONPROFIT GENERAL SUPPORT 20,000
    CHERRY FESTIVAL FOUNDATION
    250 E FRONT STREET SUITE 301
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT FMV OF RENT CONCESSION 32,934
    CHERRYLAND HUMANE SOCIETY
    1750 AHLBERG ROAD
    TRAVERSE CITY,MI49696     		NONE OTHER NONPROFIT DIRECTORS CHOICE GRANT 1,000
    CHILD & FAMILY SERVICES NW MI
    3785 VETERANS DRIVE
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT DIRECTORS CHOICE AND SUPPORT FOR HOMELESS YOUTH 14,000
    CITY OPERA HOUSE HERITAGE ASSOCIATION
    106 E FRONT ST
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT DIRECTORS CHOICE GRANT 2,500
    COMMUNITY FOOD PANTRY
    100 W HURLBUT ST
    CHARLEVOIX,MI49720     		NONE OTHER NONPROFIT DIRECTORS CHOICE GRANT 1,000
    CONSERVATION RESOURCE ALLIANCE
    10850 E TRAVERSE HWY 1180
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT SUPPORT FOR TIMBER BRIDGE ON CARP RIVER 12,000
    COUNCIL OF MICHIGAN FOUNDATIONS
    ONE SOUTH HARBOR SUITE 3
    GRAND HAVEN,MI49417     		NONE OTHER NONPROFIT GREAT LAKES FUNDERS DUE 3,700
    ECHO HIS LOVE
    525 MICHAEL ST
    MANISTEE,MI49660     		NONE OTHER NONPROFIT DIRECTORS CHOICE GRANT 5,000
    FATHER FRED FOUNDATION
    826 HASTINGS ST
    TRAVERSE CITY,MI49686     		NONE OTHER NONPROFIT DIRECTORS CHOICE GRANT 4,000
    FOR LOVE OF WATER
    153 1/2 E FRONT ST
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT EDUCATION INITIATIVE 5,000
    GOODWILL INDUSTRIES
    2279 W SOUTH AIRPORT
    TRAVERSE CITY,MI49686     		NONE OTHER NONPROFIT DIRECTORS CHOICE AND GRANT FOR FOOD RESCUE 40,000
    GRAND TRAVERSE AREA CATHOLIC SCHOOLS
    123 E 11TH STREET
    TRAVERSE CITY,MI49684     		NONE SCHOOL DIRECTORS CHOICE AND CAPITAL GRANTS 5,000
    GRAND TRAVERSE CONSERVATION DISTRICT
    1450 CASS RD
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR YOUTH PROGRAMS 15,000
    GRAND TRAVERSE REGIONAL COMMUNITY FOUNDATION
    223 LAKE AVE SUITE B
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GENERATIONS AHEAD PROGRAM 20,000
    GRAND TRAVERSE REGIONAL LAND CONSERVANCY
    3860 N LONG LAKE RD D
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT UPGRADES TO ACME PARK 25,000
    HABITAT FOR HUMANITY
    2487 RICE ST
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT HOME REPAIR PROGRAM 15,000
    INLAND SEAS EDUCATION CENTER
    100 DAME ST
    SUTTONS BAY,MI49682     		NONE OTHER NONPROFIT DIRECTORS CHOICE AND CAMPUS RENOVATION PROJECT 10,000
    JOPPA HOUSE
    800 STATE ST
    CHARLEVOIX,MI49720     		NONE OTHER NONPROFIT DIRECTORS CHOICE GRANT 1,000
    LEELANAU CONSERVANCY
    105 N FIRST ST
    LELAND,MI49654     		NONE OTHER NONPROFIT GRANT FOR CEDAR LAKE BOARDWALK AND LEGACY CAMPAIGN 25,000
    LITTLE TRAVERSE BAY HUMANE SOCIETY
    9582 13000 W CONWAY ROAD
    HARBOR SPRINGS,MI49740     		NONE OTHER NONPROFIT BEHAVIOR TRAINING CLASSES 10,000
    LONG LAKE ASSOCIATION
    PO BOX 257
    INTERLOCHEN,MI49643     		NONE OTHER NONPROFIT GRANT FOR WATER QUALITY MONITORING 2,141
    MANA FOOD PROJECT
    8791 MCBRIDE PARK DR
    HARBOR SPRINGS,MI49740     		NONE OTHER NONPROFIT DIRECTOR'S CHOICE GRANT 1,000
    MCLAREN NORTHERN MICHIGAN FOUNDATION
    360 CONNABLE AVE
    PETOSKEY,MI49770     		NONE OTHER NONPROFIT GRANT FOR CAPITAL PROJECT 25,000
    MICHAEL'S PLACE
    1212 VETERANS DR
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT DIRECTOR'S CHOICE GRANT 2,500
    MID MICHIGAN HONOR FLIGHT
    PO BOX 385
    MECOSTA,MI49332     		NONE OTHER NONPROFIT GRANT FOR VETERAN'S SERVICES 200
    NORTE
    PO BOX 781
    TRAVERSE CITY,MI49685     		NONE OTHER NONPROFIT BICYCLE LENDING LIBRARY 6,000
    NORTHERN MICHIGAN EQUINE THERAPY
    5025 CHURCH ROAD
    BOYNE CITY,MI49712     		NONE OTHER NONPROFIT INDOOR ARENA UPGRADE 1,000
    NORTHWEST MICHIGAN 4H LIVESTOCK COUNCIL
    PO BOX 134
    GRAWN,MI49637     		NONE OTHER NONPROFIT GRANT FOR SWINE BARN 3,000
    NORTHWESTERN MICHIGAN COLLEGE FOUNDATION
    1710 EAST FRONT STREET
    TRAVERSE CITY,MI49686     		NONE COLLEGE GRANT FOR SPECIAL PROJECTS AND STUDENT PROGRAMS 80,000
    PARAKLESIS INC
    2570 HOOSIER VALLEY RD
    TRAVERSE CITY,MI49685     		NONE OTHER NONPROFIT DIRECTORS CHOICE GRANT 900
    PARALLEL 45 THEATRE
    1125 W CIVIC CENTER DR
    TRAVERSE CITY,MI49686     		NONE OTHER NONPROFIT DIRECTORS CHOICE GRANT 2,500
    PETOSKEY HARBOR SPRINGS AREA COMMUNITY FOUNDATION
    616 PETOSKEY ST STE 203
    PETOSKEY,MI49770     		NONE OTHER NONPROFIT GENERAL SUPPORT 20,000
    SALVATION ARMY EMMET COUNTY
    712 PLEASANT STREET
    PETOSKEY,MI49770     		NONE OTHER NONPROFIT EMERGENCY SERVICES 10,000
    SEEDS
    223 LAKE AVE SUITE B
    TRAVERSE CITY,MI49686     		NONE OTHER NONPROFIT GRANT FOR SUMMER WORK PROGRAM 25,000
    SHARECARE OF LEELANAU
    7401 E DUCK LAKE ROAD
    LAKE LEELANAU,MI49653     		NONE OTHER NONPROFIT SENIOR RIDE SERVICES 5,000
    SOLON TOWNSHIP
    15185 ALGOMA AVE NE
    CEDAR SPINGS,MI49319     		NONE GOVERNMENTAL PLAYGOUND EQUIPMENT 10,000
    ST FRANCIS CATHOLIC CHURCH
    1025 S UNION ST
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT GRANT FOR CAPITAL CAMPAIGN 5,000
    TART TRAILS
    148 E FRONT ST 201
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT DIRECTORS CHOICE AND GRANT FOR LAKE TRAIL 21,000
    TCAPS
    412 WEBSTER
    TRAVERSE CITY,MI49686     		NONE SCHOOL FMV OF RENT CONCESSION 12,000
    TRAVERSE BAY CHILD ADVOCACY CENTER
    2000 CHARTWELL DR 3
    TRAVERSE CITY,MI49686     		NONE OTHER NONPROFIT DIRECTORS CHOICE 31,046
    TRAVERSE CITY FILM FESTIVAL
    233 E FRONT ST
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT PROJECTION EQUIPMENT 10,000
    TRAVERSE HEALTH CLINIC
    3155 LOGAN VALLEY ROAD
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT DIRECTORS CHOICE 1,000
    WOMEN'S RESOURCE CENTER
    720 S ELMWOOD STE 2
    TRAVERSE CITY,MI49684     		NONE OTHER NONPROFIT DIRECTORS CHOICE AND PLAYGROUND UPGRADES 29,000
    ZONTA CLUB OF TRAVERSE CITY
    P O BOX 1412
    TRAVERSE CITY,MI49685     		NONE OTHER NONPROFIT FMV OF RENT CONCESSION 32,215
    Total .................................bullet 3a 667,136
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    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 29  
    4 Dividends and interest from securities....     14 358,852  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....     16 389,043  
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 975,144  
    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 1,723,068 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    1,723,068
    (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 (2020)
    Form 990-PF (2020)
    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) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    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) (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 instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2020)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2020 AccountingFeesSchedule
    Name:
    OLESON FOUNDATION
    EIN:
    38-6083080
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 13,761 13,761   0

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

    TY 2020 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 1,981,467 SL 0 % 81,329 81,329    
    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 5,459 200SL 0 % 0 0    
    LAND 1994-02-10 800,000   L   0 0    
    EQUIPMENT - ASSET #29 2009-04-30 27,298 27,297 200SL 0 % 0 0    
    EQUIPMENT - ASSET #30 2009-06-30 7,078 7,078 200SL 0 % 0 0    
    EQUIPMENT - ASSET #31 2010-08-31 14,050 14,050 200SL 0 % 0 0    
    2011 LAND 2011-11-16 2,306,492   L   0 0    
    HVAC 1209 ASSET #32 2015-07-01 11,722 10,414 200SL 0 % 523 523    
    GARFIELD SECTION 32 DEVELOPMENT LAND 2015-07-01 367,519   L   0 0    
    LAND DEVELOPMENT COSTS FOR ASSET #61 2018-07-01 577   L   0 0    
    LAND DEVELOPMENT COSTS FOR ASSET #61 2019-07-01 38,529   L   0 0    
    LAND DEVELOPMENT COSTS FOR ASSET #61 2020-07-01 12,874   L   0 0    

    TY 2020 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 2,062,796 1,277,305  
    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 27,297 1  
    EQUIPMENT - ASSET #30 7,078 7,078 0  
    EQUIPMENT - ASSET #31 14,050 14,050 0  
    2011 LAND 2,306,492 0 2,306,492  
    HVAC 1209 ASSET #32 11,722 10,937 785  
    GARFIELD SECTION 32 DEVELOPMENT LAND 367,519 0 367,519  
    LAND DEVELOPMENT COSTS FOR ASSET #61 577 0 577  
    LAND DEVELOPMENT COSTS FOR ASSET #61 38,529 0 38,529  
    LAND DEVELOPMENT COSTS FOR ASSET #61 12,874 0 12,874  

    TY 2020 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 16,818,871 18,775,290

    TY 2020 LegalFeesSchedule
    Name:
    OLESON FOUNDATION
    EIN:
    38-6083080
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 10,123 0   10,123


    TY 2020 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 13,000
    BUILDINGS (CHARITABLE PURPOSES) 4,520 4,520  
    EQUIPMENT (CHARITABLE PURPOSES) 1,500 1,500  


    TY 2020 OtherExpensesSchedule
    Name:
    OLESON FOUNDATION
    EIN:
    38-6083080
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OFFICE EXPENSE 1,344 672   672
    INSURANCE 2,752 1,376   1,376
    MISCELLANEOUS 40 20   20
    INSURANCE, REPAIRS,CLEANING, UTILITIES AND MISCELLANEOUS 88,123 88,123   0


    TY 2020 OtherIncreasesSchedule
    Name:
    OLESON FOUNDATION
    EIN:
    38-6083080
    Description Amount
    BOOK/TAX DIFFERENCES IN COST BASIS - INVESTMENT ACCOUNTS 8,503


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    OLESON FOUNDATION
    EIN:
    38-6083080
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TRUST & INVESTMENT FEES-IWM 10,043 10,043   0
    TRUST & INVESTMENT FEES-IPEX/SCHWAB 22,500 22,500   0
    REAL ESTATE MANAGEMENT FEES 58,829 58,829   0
    PROFESSIONAL SERVICES 5,722 5,722   0


    TY 2020 TaxesSchedule
    Name:
    OLESON FOUNDATION
    EIN:
    38-6083080
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL EXCISE TAX 18,760 0   0
    PAYROLL TAXES 3,690 922   2,767
    REAL ESTATE TAXES 186,962 186,962   0