Form990-PF
Click to see attachment
Click to see attachmentClick to see attachment

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. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
Name of foundation
RE OLDS FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)P O BOX 4900
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
EAST LANSING, MI488264900
A Employer identification number

38-1485403
B Telephone number (see instructions)

(517) 332-0234
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$5,115,639J 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)  
2 Check bullet.............
3 Interest on savings and temporary cash investments 12 12  
4 Dividends and interest from securities... 78,860 78,860  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 285,125
b Gross sales price for all assets on line 6a 366,465
7 Capital gain net income (from Part IV, line 2)... 285,125
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 3,053 3,053  
12 Total. Add lines 1 through 11........ 367,050 367,050  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 3,784      
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 430 430    
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 5,128      
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 5,813 5,813    
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 28,290 28,290    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 43,445 34,533   0
25 Contributions, gifts, grants paid....... 266,350 266,350
26 Total expenses and disbursements. Add lines 24 and 25 309,795 34,533   266,350
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 57,255
b Net investment income (if negative, enter -0-) 332,517
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
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.............      
2 Savings and temporary cash investments......... 150,869 84,274 84,274
3 Accounts receivable bullet574
Less: allowance for doubtful accounts bullet   277 574 574
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)....... 4,574,730 Click to see attachment5,027,593 5,027,593
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet132
Less: accumulated depreciation (attach schedule) bullet132      
15 Other assets (describe bullet) Click to see attachment797 Click to see attachment3,198 Click to see attachment3,198
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 4,726,673 5,115,639 5,115,639
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment70,000 Click to see attachment35,000
23 Total liabilities (add lines 17 through 22)......... 70,000 35,000
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........... 4,656,673 5,080,639
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........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 4,656,673 5,080,639
30 Total liabilities and net assets/fund balances (see instructions). 4,726,673 5,115,639
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
4,656,673
2
Enter amount from Part I, line 27a .....................
2
57,255
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
366,711
4
Add lines 1, 2, and 3 ..........................
4
5,080,639
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
5,080,639
Form 990-PF (2021)
Form 990-PF (2021)
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 67 SHARES ABBOTT LABORATORIES P 1987-03-31 2021-09-21
b 696 SHARES APPLE INC P 2013-10-18 2021-07-13
c 176 SHARES ISHS RUSS MDCP GRW ETF P 2015-10-16 2021-09-21
d 21 SHARES ISHS RUSS 1000 GRW ETF P 2019-07-12 2021-09-21
e 46 SHARES ISHS IBOX H/Y CORP ETF P 2015-02-17 2021-09-21
151 SHARES ISHS USD INVT ORD BD ETF P 2015-02-17 2021-09-21
506 SHARES JOHNSON & JOHNSON P 2001-05-02 2021-07-13
148 SHARES SOUTHERN COMPANY P 2005-05-17 2021-09-21
122 SHARES THERMO FISHER SCIENTIFIC P 2009-06-01 2021-07-13
86 SHARES THERMO FISHER SCIENTIFIC P 2009-06-01 2021-09-21
75 SHARES VNGRD SHRT TRM CORP ETF P 2015-02-26 2021-09-21
VNGRD ST CORP ETF LT CAP GAIN DISTR P   2021-12-29
(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 8,417   226 8,191
b 101,527   12,641 88,886
c 20,319   8,128 12,191
d 5,919   3,409 2,510
e 4,037   4,192 -155
9,228   8,453 775
85,751   24,811 60,940
9,506   5,121 4,385
62,729   4,900 57,829
51,435   3,454 47,981
6,197   6,005 192
1,400     1,400
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       8,191
b       88,886
c       12,191
d       2,510
e       -155
      775
      60,940
      4,385
      57,829
      47,981
      192
      1,400
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 2 285,125
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  
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
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 All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) 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  
3 Add lines 1 and 2........................... 3 4,622
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 4,622
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 6,737
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 6,737
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
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 2,115
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet2,115 RefundedBullet 11  
Part VI-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$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
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 XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bullet
    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 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    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 (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-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 addressbulletHTTP://WWW.REOLDSFOUNDATION.ORG
    14
    The books are in care ofbulletPATTI JO SCHAFER Telephone no.bullet (517) 331-3049

    Located atbullet10388 HERBISON ROADEAGLEMI ZIP+4bullet48822
    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 2021, 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 VI-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? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
     
    No
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
    Yes
     
    (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)? ......................
    1a(5)
     
    No
    (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.) ...............
    1a(6)
     
    No
    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
    c
    ........bullet
    d
    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 2021? .............
    1d
     
    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 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    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? ..............................
    3a
     
    No
    b
    If "Yes," did it have excess business holdings in 2021 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 2021.) .....................
    3b
     
    No
    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 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-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))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
     
    No
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    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
     
     
    c
    .........bullet
    d
    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? .................
    5d
     
     
    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? .............................
    6a
     
    No
    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?
    7a
     
    No
    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? .........................
    8
     
    No
    Part VII
    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
    DIANA TARPOFF CO-CHAIR
    5.00     		0 0 0
    P O BOX 4900
    EAST LANSING,MI488264900
    DEBORAH STEPHENS CO-CHAIR
    5.00     		0 0 0
    P O BOX 4900
    EAST LANSING,MI488264900
    EMILY POLO TATE DIRECTOR
    2.00     		0 0 0
    P O BOX 4900
    EAST LANSING,MI488264900
    GREGGORY STEPHENS DIRECTOR
    2.00     		0 0 0
    P O BOX 4900
    EAST LANSING,MI488264900
    PATTI SCHAFER SECRETARY
    1.00     		3,784 0 0
    P O BOX 4900
    EAST LANSING,MI488264900
    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  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    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.............bullet  
    Part VIII-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part VIII-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  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    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
    4,784,632
    b
    Average of monthly cash balances.......................
    1b
    126,221
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    4,910,853
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    4,910,853
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    73,663
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    4,837,190
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    241,860
    Part X
    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 IX, line 6..................
    1
    241,860
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    4,622
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    4,622
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    237,238
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    237,238
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
    237,238
    Part XI
    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
     
    b
    Program-related investments—total from Part VIII-B..................
    1b
     
    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 XII, line 4.
    4
     
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 9
    Part XII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2020     		(c)
    2020     		(d)
    2021
    1 Distributable amount for 2021 from Part X, line 7 237,238
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2021:
    a From 2016...... 8,346
    b From 2017...... 47,219
    c From 2018...... 24,587
    d From 2019...... 40,070
    e From 2020...... 35,040
    f Total of lines 3a through e ........ 155,262
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 266,350
    a Applied to 2020, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2021 distributable amount..... 237,238
    e Remaining amount distributed out of corpus 29,112
    5 Excess distributions carryover applied to 2021.    
    (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 5 184,374
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		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) .......     		 
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		8,346
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		176,028
    10 Analysis of line 9:
    a Excess from 2017.... 47,219
    b Excess from 2018.... 24,587
    c Excess from 2019.... 40,070
    d Excess from 2020.... 35,040
    e Excess from 2021.... 29,112
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-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 2021, 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) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    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 IX, 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 XIV
    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).)
    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:
    DIANA TARPOFF
    P O BOX 4900
    EAST LANSING,MI48826
    (517) 332-0234
    bThe form in which applications should be submitted and information and materials they should include:
    LETTER FORM WITH SUPPORTING INFORMATION ON THE PROJECT
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    NO ASSISTANCE TO INDIVIDUALS. ASSISTANCE RESTRICTED TO INSTITUTIONS ORGANIZED IN THE UNITED STATES OF AMERICA.
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 11
    Part XIV
    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
    ATHENA INTERNATIONAL
    2425 E GRAND RIVER AVENUE
    SUITE 1
    LANSING,MI48912     		  PC GENERAL PURPOSE 7,500
    CAP-CAN
    330 MARSHALL ST
    SUITE 203
    LANSING,MI48912     		  PC GENERAL PURPOSE 750
    CAPITAL AREA HUMANE SOCIETY
    7095 WEST GRAND RIVER AVE
    LANSING,MI48906     		  PC DIGITAL X-RAY MACH/GENERAL PURPOSE 20,000
    CANTER MICHIGAN
    8619 EDGEWOOD PARK DR
    COMMERCE TOWNSHIP,MI48382     		  PC GENERAL PURPOSE 5,000
    CHERRYLAND HUMANE SOCIETY
    1750 AHBERG ROAD
    TRAVERSE CITY,MI49696     		  PC GENERAL PURPOSE 500
    COMMUNITIES IN SCHOOLS-LANSING
    721 NORTH CAPITAL STREET
    SUITE 1
    LANSING,MI48906     		  PC MTG CHILDN BASIC NEED PROJ/GEN PURP 10,500
    COUNCIL OF MICHIGAN FOUNDATIONS
    PO BOX 329
    GRAND HAVEN,MI49417     		  PC GENERAL PURPOSE 1,800
    DIANA TARPOFF
    965 ROSEWOOD
    EAST LANSING,MI48823     		  PC SLEEP IN HEAVENLY PEACE 500
    ELE'S PLACE
    1145 WEST OAKLAND AVENUE
    LANSING,MI48915     		  PC 30TH CELEBRATION 1,000
    EXPERIENTIAL INK'S
    7480 BRIAR LANE
    BELLAIRE,MI49615     		  PC GENERAL PURPOSE 10,000
    GREATER LANSING FOOD BANK
    P O BOX 16224
    LANSING,MI48901     		  PC BACKPACK DISTRIBUTION PARTNERSHIP 10,000
    HAVEN HOUSE
    121 WHITEHILLS DRIVE
    EAST LANSING,MI48823     		  PC EMERGENCY SHELTER BATHROOM/GEN PURP 15,000
    HAYO-WENT-HA-ARBUTUS
    1380 ARBUTUS LAKE RD
    TRAVERSE CITY,MI49696     		  PC GENERAL PURPOSE 2,500
    INGHAM COUNTY ANIMAL SHELTER FUND
    PO BOX 238
    MASON,MI48854     		  PC ICACS DOG HOUSE PROGRAM 5,000
    JACK SUSAN DAVIS LEGACY ENDOWMENT
    200 N FOSTER AVE
    LANSING,MI48912     		  PC GENERAL PURPOSE 1,000
    JUNIOR LEAGUE OF LANSING
    2501 JOLLY RD
    SUITE 110
    OKEMOS,MI48864     		  PC GENERAL PURPOSE 1,000
    LANSING ART GALLERY
    119 NORTH WASHINGTON SQU
    LANSING,MI48933     		  PC ART ENCOUNTERS 5,000
    LANSING SYMPHONY
    104 S WASHINGTON
    SUITE 300
    LANSING,MI48933     		  PC LINK UP MATERIALS & SUPPLIES 1,000
    LEELANAU SCHOOL
    1 OLD HOMESTEAD ROAD
    GLEN ARBOR,MI496369984     		  PC GENERAL PURPOSE 1,000
    MICHIGAN HISTORY FOUNDATION
    PO BOX 12331
    LANSING,MI48901     		  PC GOVERNOR'S DECISION ROOM 1,000
    MICHIGAN RADIO
    535 WEST WILLIAM STREET
    SUITE 110
    ANN ARBOR,MI481034978     		  PC GENERAL PURPOSE 275
    MIKEY 23 FOUNDATION
    3108 REO ROAD
    LANSING,MI48911     		  PC STUDENT SCHOLARSHIPS 10,000
    NATIONAL ANTIQUE OLDSMOBILE CLUB
    121 NORTH RAILROAD STREET
    MYERSTOWN,PA17067     		  PC 39TH ANNUAL NATIONAL CAR SHOW 3,000
    NATURE CONSERVANCY
    PO BOX 1556
    MERRIFIELD,VA221169590     		  PC GENERAL PURPOSE 1,000
    PLANNED PARENTHOOD
    950 VICTORS WAY
    SUITE 100
    ANN ARBOR,MI48108     		  PC SOLO PARA TI EDUCATION/GEN PURPOSE 7,050
    R E OLDS TRANSPORTATION MUSEUM
    240 MUSEUM DRIVE
    LANSING,MI48933     		  PC SURVEILLANCE SYS/ADA COMPL RESTROOMS 35,000
    RAINN
    1220 L ST NW
    SUITE 505
    WASHINGTON,DC20005     		  PC GENERAL PURPOSE 2,000
    SEMESTER AT SEA
    2243 CENTRE AVE
    SUITE 300
    FORT COLLINS,CO805266052     		  PC GENERAL PURPOSE 1,000
    SLEEP IN HEAVENLY PEACE INC
    1560 ELDRIDGE AVE
    TWIN FALLS,ID83301     		  PC GRANT "NO KID SLEEPS ON THE FLOOR" 10,000
    SMALL TALK CHILDREN'S ASSESSMENT
    3400 PINE TREE ROAD
    SUITE 106
    LANSING,MI48911     		  PC GENERAL PURPOSE 10,000
    THE LEBOWSKY CENTER OF PERFORMING
    122 E MAIN ST
    OWOSSO,MI48867     		  PC GENERAL PURPOSE 500
    THE SPARROW HOSPITAL FOUNDATION
    1322 E MICHIGAN AVE
    SUITE 204
    LANSING,MI48912     		  PC WOMEN WORKING WONDERS 500
    TIP OF THE MITT WATERSHED COUNCIL
    426 BAY STREET
    PETOSKEY,MI49770     		  PC GENERAL PURPOSE 500
    TODD MARTIN YOUTH LEADERSHIP
    200 N FOSTER AVE
    LANSING,MI48912     		  PC TMYL ACADEMIC TUTORING PROGRAM 5,000
    TYLER WEYMOUTH FOUNDATION
    2 DOUGLAS AVENUE
    METHUEN,MA01844     		  PC GENERAL PURPOSE 2,500
    WAI-IAM INC
    217 NORTH SYCAMORE STREET
    LANSING,MI48933     		  PC COMMUNITY TRANSPORTATION 9,000
    WILDSIDE REHABILITATION EDUCATION
    8601 HOUSTON RD
    EATON RAPIDS,MI48827     		  PC WILDLIFE FOOD FUND/GENERAL PURPOSE 27,000
    WKAR RADIO
    404 WILSON RD
    RM 212
    EAST LANSING,MI48824     		  PC GENERAL PURPOSE 250
    WKAR TV
    404 WILSON RD
    RM 212
    EAST LANSING,MI48824     		  PC GENERAL PURPOSE 250
    WOLDUMAR NATURE CENTER
    5739 OLD LANSING ROAD
    LANSING,MI48917     		  PC ALLEN FARMERS MKT SPON/SIGN/GEN PURP 39,475
    YMCA CAMP HAYO WENT HA
    919 NORTH EAST TORCH LAKE
    CENTRAL LAKE,MI49622     		  PC GENERAL PURPOSE 2,000
    Total .................................bullet 3a 266,350
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-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 12  
    4 Dividends and interest from securities ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income .....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 285,125  
    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) ..   367,050  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    367,050
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-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 XV-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 (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    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 (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2021 AccountingFeesSchedule
    Name:
    RE OLDS FOUNDATION
    EIN:
    38-1485403
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CONTRACTED SERVICES - TAX RETURN 430 430    

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    RE OLDS FOUNDATION
    EIN:
    38-1485403
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ABBOTT LABORATORIES 131,310 131,310
    APPLE INC 600,542 600,542
    DELTA RESOURCE LTD 204 204
    ISHARES RUSSELL MID CAP VALUE 739,053 739,053
    ISHARES BROAD USD INVESTMENT GRADE 477,502 477,502
    ISHARES RUSSELL MID CAP GROWTH 614,353 614,353
    ISHARES IBOXX HIGH YLD 484,298 484,298
    ISHARES RUSSELL 1000 VALUE ETF 266,337 266,337
    ISHARES RUSSELL 1000 GROWTH ETF 317,814 317,814
    JOHNSON & JOHNSON 249,078 249,078
    SOUTHERN COMPANY 195,590 195,590
    THERMO FISHER SCIENTIFIC INC 326,948 326,948
    VANGUARD SHORT TERM CORP BD 624,564 624,564

    TY 2021 LandEtcSchedule2
    Name:
    RE OLDS FOUNDATION
    EIN:
    38-1485403
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    OFFICE EQUIPMENT 132 132    


    TY 2021 OtherAssetsSchedule
    Name:
    RE OLDS FOUNDATION
    EIN:
    38-1485403
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    ACCRUED INTEREST & DIVIDENDS      
    RECEIVABLE 797 2,017 2,017
    PREPAID INSURANCE   1,181 1,181


    TY 2021 OtherExpensesSchedule
    Name:
    RE OLDS FOUNDATION
    EIN:
    38-1485403
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXPENSES        
    DUES & SUBSCRIPTIONS 775 775    
    ADVISOR FEES 24,131 24,131    
    SEMINARS 358 358    
    OIL & GAS - OPERATING EXPENSE 142 142    
    STORAGE 1,884 1,884    
    CONTRACT LABOR 1,000 1,000    


    TY 2021 OtherIncomeSchedule2
    Name:
    RE OLDS FOUNDATION
    EIN:
    38-1485403
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    GROSS REVENUES FROM OIL & GAS 3,053 3,053  


    TY 2021 OtherIncreasesSchedule
    Name:
    RE OLDS FOUNDATION
    EIN:
    38-1485403
    Description Amount
    UNREALIZED GAINS ON INVESTMENTS 366,711


    TY 2021 OtherLiabilitiesSchedule
    Name:
    RE OLDS FOUNDATION
    EIN:
    38-1485403
    Description Beginning of Year - Book Value End of Year - Book Value
    PROMISES TO GIVE 70,000 35,000


    TY 2021 ReasonableCauseExplanation
    Name:
    RE OLDS FOUNDATION
    EIN:
    38-1485403
    Explanation:
    THE FOUNDATION'S 2021 FORM 990-PF WAS UNITENTIONALLY FILED LATE AS A RESULT OF THE FOLLOWING FACTS AND CIRCUMSTANCES: THE CPA FIRM RESPONSIBLE FOR PREPARING THE FOUNDATION'S TAX RETURN EXPERIENCED UNEXPECTED STAFFING DIFFICULTIES AND TURNOVER DURING 2022. AS A RESULT, THE PREPARATION OF THE FOUNDATION'S TAX RETURN WAS INADVERTENTLY OVERLOOKED. SUBSEQUENT TO THE FILING DEADLINE, THE FOUNDATION AND THE CPA FIRM BECAME AWARE OF THE OVERSIGHT AND IMMEDIATELY PREPARED AND FILED THE FOUNDATION'S TAX RETURN. THE FOUNDATION'S 2021 TAX LIABLITY WAS PAID IN A TIMELY MANNER AND PRIOR TO THE FILING DEADLINE. THE FOUNDATION RESPECTFULLY REQUESTS THAT ANY POTENTIAL PENALTIES BE ABATED, AS THE FAILURE TO FILE IS DUE TO REASONABLE CAUSE AS DISCUSSED ABOVE AND NOT A RESULT OF WILLFUL NEGLECT. WE WOULD LIKE THE IRS TO CONSIDER THE FOUNDATION'S LONG HISTORY OF COMPLIANCE WITH ITS PAST FILING REQUIREMENTS. FURTHERMORE, THE FOUNDATION'S 2021 TAX LIABILITY WAS PAID IN A TIMELY MANNER AND PRIOR TO THE FILING DEADLINE.

    TY 2021 TaxesSchedule
    Name:
    RE OLDS FOUNDATION
    EIN:
    38-1485403
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OIL & GAS - PRODUCTION TAXES 128      
    FEDERAL TAXES PAID 5,000