TY 2024 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

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

Do not enter social security numbers on this form as it may be made public.
right arrow

Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0047

2024

Open to Public Inspection

For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024

Name of foundation
THE OLSETH FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)601 CARLSON PARKWAY SUITE 1050
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
MINNETONKA, MN55305

A Employer identification number

41-1875950

B Telephone number (see instructions)

(612) 267-3287

C If exemption application is pending, check here right arrow

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. right arrow

2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow

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

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

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

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

$28,234,829J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments	143,524		140,487
4	Dividends and interest from securities...	550,780		576,932
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		404,854
b	Gross sales price for all assets on line 6a 3,618,213
7	Capital gain net income (from Part IV, line 2)...			376,994
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........	1,099,158		1,094,413
13	Compensation of officers, directors, trustees, etc.	323,853		0	323,853
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......	102,273		0	102,273
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	14,580	0	14,580
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	249,503	167,089	82,414
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	25,982	16,018	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......	16,850		0	16,850
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	5,534	0	5,534
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	738,575		183,107	545,504
25	Contributions, gifts, grants paid.......	896,500			896,500
26	Total expenses and disbursements. Add lines 24 and 25	1,635,075		183,107	1,442,004
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-535,917
b	Net investment income (if negative, enter -0-)			911,306
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2024)

Form 990-PF (2024)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	1,324,994	1,670,772	1,670,772
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......	6,012,278	List of Attached Documents: // Content 5,552,883	12,446,512
	c	Investments—corporate bonds (attach schedule).......	3,197,762	List of Attached Documents: // Content 3,763,908	3,685,618
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	8,501,988	List of Attached Documents: // Content 7,513,492	10,431,927
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	19,037,022	18,501,055	28,234,829
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		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
		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	19,037,022	18,501,055
	29	Total net assets or fund balances (see instructions).....	19,037,022	18,501,055
	30	Total liabilities and net assets/fund balances (see instructions).	19,037,022	18,501,055

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

19,037,022

Enter amount from Part I, line 27a .....................

-535,917

Other increases not included in line 2 (itemize) right arrow

Add lines 1, 2, and 3 ..........................

18,501,105

Decreases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

18,501,055

Form 990-PF (2024)

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
1 a	RBC FINANCIAL - CAPITAL GAIN DISTRIBUTION	P
b	PUBLICLY TRADED SECURITIES	P
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	227,285		227,285
b	3,390,928	3,241,219	149,709
c
d
e

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			227,285
b			149,709
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	376,994
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 ...................		3

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 and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	12,667
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	0
3	Add lines 1 and 2...........................	3	12,667
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	12,667
6	Credits/Payments:

a	2024 estimated tax payments and 2023 overpayment credited to 2024	6a	15,500
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ..........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	15,500
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. List of Attached Documents: // Content		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	2,833
11	Enter the amount of line 10 to be: Credited to 2025 estimated tax2,833	Refunded	11	0

Form 990-PF (2024)

Page 4

Part VI-A

Statements Regarding Activities

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

Yes

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

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

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

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

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

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

(1) On the foundation. right arrow

$ 0(2) On foundation managers. right arrow

$ 0

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

on foundation managers. right arrow

$ 0

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

If "Yes," attach a detailed description of the activities.

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

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

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

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

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

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

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

By language in the governing instrument, or

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

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

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

MN, OR

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

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

Yes

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

or 4942(j)(5) for calendar year 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.

If "Yes," complete Part XIII .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

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 .............

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.................

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

Yes

Website address right arrow

HTTP://WWW.OLSETHFAMILYFOUNDATION.ORG/

The books are in care of right arrow

KAREN SOLOMON Telephone no. right arrow

(612) 802-9751

Located at right arrow

601 CARLSON PARKWAY SUITE 1050MINNETONKAMN ZIP+4 right arrow

55305

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

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

16 At any time during calendar year 2024, 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 right arrow

Form 990-PF (2024)

Page 5

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

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)

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

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

1a(2)

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

1a(3)

(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)

(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)

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 ..........

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

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 2024? .............

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

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

At the end of tax year 2024, did the foundation have any undistributed income (Part XII, lines 6d

and 6e) for tax year(s) beginning before 2024?....................

If "Yes," list the years right arrow

20, 20, 20, 20

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

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

to all years listed, answer "No" and attach statement—see instructions.) ..............

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

20, 20, 20, 20

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

any time during the year? ..............................

If "Yes," did it have excess business holdings in 2024 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 2024.) .....................

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

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

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2024? ..

Form 990-PF (2024)

Page 6

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

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

Yes

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

5a(1)

(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)

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

5a(3)

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

in section 4945(d)(4)(A)? See instructions ........................

5a(4)

(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)

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 ........

Organizations relying on a current notice regarding disaster assistance check ......... right arrow

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).

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

a personal benefit contract? .............................

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

If "Yes" to 6b, file Form 8870.

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

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

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 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
KAREN L SOLOMON	TREASURER 20.00	107,951	24,329
601 CARLSON PARKWAY SUITE 1050 MINNETONKA,MN55305	TREASURER 20.00	107,951	24,329
JON P OLSETH	VICE-PRESIDENT/SECRETARY 20.00	107,951	24,329
601 CARLSON PARKWAY SUITE 1050 MINNETONKA,MN55305	VICE-PRESIDENT/SECRETARY 20.00	107,951	24,329
CHERYL A OLSETH	PRESIDENT 20.00	107,951	24,330
601 CARLSON PARKWAY SUITE 1050 MINNETONKA,MN55305	PRESIDENT 20.00	107,951	24,330
MARGARET CRONIN	ADMINISTRATIVE OFFICER 3.60	0	0
601 CARLSON PARKWAY SUITE 1050 MINNETONKA,MN55305	ADMINISTRATIVE OFFICER 3.60	0	0

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...................				0

Form 990-PF (2024)

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
RBC CAPITAL MARKETS LLC	WEALTH MANAGEMENT AND ADVISORY SERVICES	167,089
PO BOX 1510 MINNEAPOLIS,MN55440	WEALTH MANAGEMENT AND ADVISORY SERVICES	167,089
BRIDGEVIEW LEGAL ADVISORS	ADVISORY SERVICES	76,869
601 CARLSON PARKWAY SUITE 1050 MINNETONKA,MN55305	ADVISORY SERVICES	76,869

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

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	SEE STATEMENT	98,677
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	NONE	0
2


All other program-related investments. See instructions.
3	List of Attached Documents: // Content	0

Total. Add lines 1 through 3......................... right arrow

Form 990-PF (2024)

Page 8

Part IX

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

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

purposes:

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

26,619,674

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

1,385,198

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

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

28,004,872

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

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

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

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

28,004,872

Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see

instructions) .............................

420,073

Net value of noncharitable-use assets. Subtract line 4 from line 3. ............

27,584,799

Minimum investment return. Enter 5% (0.05) of line 5................

1,379,240

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.)

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

1,379,240

Tax on investment income for 2024 from Part V, line 5 .......

12,667

Income tax for 2024. (This does not include the tax from Part V.) ...

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

12,667

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

1,366,573

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

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

1,366,573

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...

1,366,573

Part XI

Qualifying Distributions (see instructions)

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

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

1,442,004

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

1,442,004

Form 990-PF (2024)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2023	(c) 2023	(d) 2024
1 Distributable amount for 2024 from Part X, line 7					1,366,573
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only.......				0
b Total for prior years:20 , 20, 20			0
3 Excess distributions carryover, if any, to 2024:
a From 2019......	11,462
b From 2020......	3,395
c From 2021......	1,490
d From 2022......	52,319
e From 2023......	124,525
f Total of lines 3a through e ........		193,191
4Qualifying distributions for 2024 from Part
XI, line 4: $ 1,442,004
a Applied to 2023, 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 2024 distributable amount.....					1,366,573
e Remaining amount distributed out of corpus		75,431
5 Excess distributions carryover applied to 2024.		0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		268,622
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 2023. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2024. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2025 ..........					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 2019 not applied on line 5 or line 7 (see instructions) ...		11,462
9 Excess distributions carryover to 2025. Subtract lines 7 and 8 from line 6a ......		257,160
10 Analysis of line 9:
a Excess from 2020....	3,395
b Excess from 2021....	1,490
c Excess from 2022....	52,319
d Excess from 2023....	124,525
e Excess from 2024....	75,431

Form 990-PF (2024)

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 2024, enter the date of the ruling ...... right arrow

b Check box to indicate whether the organization is a private operating foundation described in section 4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part IX for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2024	(b) 2023	(c) 2022	(d) 2021	(e) Total

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 right arrow

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

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

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

cAny submission deadlines:

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

Form 990-PF (2024)

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
AMERICAN CIVIL LIBERTIES FOUNDATION OF OREGON INC PO BOX 40585 PORTLAND,OR97240		PC	OPERATING	5,000
CENTRAL LAKES COLLEGE FOUNDATION 501 WEST COLLEGE DRIVE BRAINERD,MN56401		PC	POETRY EVENT CALLED VERSE LIKE WATER	5,000
CHILDREN'S MUSEUM OF SOUTHERN MINNESOTA 224 LAMM ST MANKATO,MN56001		PC	OPERATING	10,000
COMMITTEE AGAINST DOMESTIC ABUSE INC (CADA) PO BOX 466 MANKATO,MN56002		PC	OPERATING	15,000
EMERGENCY COMMUNITY HELP ORGANIZATION ECHO PO BOX 3212 1014 SOUTH FRONT STREET MANKATO,MN56002		PC	OPERATING	5,000
FEEDING OUR COMMUNITIES PARTNERS PO BOX 5275 MANKATO,MN56002		PC	BACKPACK FOOD PROGRAM	10,000
FORT LEWIS COLLEGE FOUNDATION 1000 RIM DRIVE DURANGO,CO81301		PC	OPERATING	5,000
FREE GEEK 1731 SE 10TH AVE PORTLAND,OR97214		PC	OPERATING	5,000
FRESH ENERGY 408 SAINT PETER STREET SUITE 220 ST PAUL,MN55102		PC	OPERATING	5,000
FRIENDS OF SATURDAY ACADEMY 5000 N WILLAMETTE BLVD PORTLAND,OR97203		PC	SCHOOL RESIDENCY CLASSES	10,000
FRIENDS OF THE HENNEPIN COUNTY LIBRARY 300 NICOLLET MALL SUITE N-290 MINNEAPOLIS,MN55401		PC	OPERATING	20,000
GIVING VOICE INITIATIVE 7801 EAST BUSH LAKE ROAD 120 BLOOMINGTON,MN55439		PC	OPERATING	5,000
GREATER MANKATO AREA UNITED WAY INC 127 S 2ND STREET SUITE 190 MANKATO,MN56001		PC	OPERATING ($20,000), BOOKS FOR KIDS PROGRAM ($20,500), KINDNESS BOOK PROJECT ($2,500)	43,000
JUNGLE THEATER 2951 LYNDALE AVE S MINNEAPOLIS,MN55408		PC	OPERATING	25,000
KLAMATH-SISKIYOU WILDLANDS CENTER (KS WILD) PO BOX 102 ASHLAND,OR97520		PC	OPERATING	5,000
LIVING EARTH CENTER 1603 N RIVERFRONT DR MANKATO,MN56001		PC	OPERATING	5,000
MANKATO AREA FOUNDATION 212 E WALNUT STREET MANKATO,MN56001		PC	OPERATING ($15,000); RECHARGE FUND ($5,000)	20,000
MEALS ON WHEELS PEOPLE INC 7710 SW 31ST AVENUE PORTLAND,OR97219		PC	OPERATING	20,000
MINNEAPOLIS AMERICAN INDIAN CENTER 1530 EAST FRANKLIN AVENUE MINNEAPOLIS,MN55404		PC	OPERATING	15,000
MINNESOTA CENTER FOR ENVIRONMENTAL ADVOCACY 1919 UNIVERSITY AVE W SUITE 515 ST PAUL,MN55104		PC	EDUCATE ABOUT CLIMATE CHANGE AND THE BENEFITS OF MOVING AWAY FROM FOSSIL FUELS	15,000
MINNESOTA ENGAGEMENT ON SHELTER & HOUSING 740 EAST 17TH ST MINNEAPOLIS,MN55404		PC	DIRECTOR'S COUNCIL/WHITE EARTH PROJECT	20,000
MINNESOTA STATE UNIVERSITY MANKATO FOUNDATION INCORPORATED 224 ALUMNI FOUNDATION CENTER MANKATO,MN56001		PC	STUDENT SCHOLARSHIPS ($1,000); AUTOMOTIVE TECHNOLOGY ($5,000); THEATRE ($2,000)	8,000
MULTNOMAH ARTS CENTER ASSOCIATION 7688 SW CAPITOL HWY PORTLAND,OR97219		SO I	ART PODS	10,000
NEIGHBORHOOD HOUSE INC 7780 SW CAPITOL HWY PORTLAND,OR97219		PC	OPERATING	5,000
OFF THE BLUE COUCH 3119 IRVING AVENUE NORTH MINNEAPOLIS,MN55411		PC	OPERATING	5,000
OREGON FOOD BANK INC 7900 NE 33RD DRIVE PORTLAND,OR97211		PC	OPERATING	20,000
OREGON NATURAL RESOURCES COUNCIL FUND (OREGON WILD) 5825 N GREELEY AVE PORTLAND,OR97217		PC	OPERATING	35,000
OREGON PUBLIC BROADCASTING 7140 SW MACADAM AVENUE PORTLAND,OR97219		PC	OPERATING	10,000
OREGON WILDLIFE FOUNDATION 2337 NW YORK ST 201C PORTLAND,OR97210		PC	WILDLIFE FEASIBILITY STUDY	25,000
PEAR 338 NW 6TH AVE PORTLAND,OR97209		PC	OPERATING	15,000
PATH HOME (FORMERLY PHFS) 6220 SE 92ND AVE PORTLAND,OR97266		PC	GENERAL OPERATING ($10,000); PREVENTION PROGRAM ($20,000); NONPROFIT COLLABORATION PROGRAM ($7,500)	37,500
PEOPLE SERVING PEOPLE INC 614 3RD STREET S MINNEAPOLIS,MN55415		PC	OPERATING; NONPROFIT COLLABORATION PROGRAM	27,500
PLANNED PARENTHOOD COLUMBIA WILLAMETTE 3727 NE MARTIN LUTHER KING JR BLVD PORTLAND,OR97212		PC	OPERATING	20,000
PLANNED PARENTHOOD NORTH CENTRAL STATES 671 VANDALIA ST ST PAUL,MN55114		PC	METRO TEEN COUNCIL	20,000
PLAYWRIGHT'S CENTER 2301 EAST FRANKLIN AVENUE MINNEAPOLIS,MN55406		PC	OPERATING	15,000
RECHARGE AMERICA INC 88 DOMINGA AVE FAIRFAX,CA94930		PC	AMERICA/ MINNESOTA/ MANKATO	90,000
RIVERLAND COMMUNITY COLLEGE FOUNDATION 1900 EIGHTH AVENUE NORTHWEST AUSTIN,MN55912		PC	SCHOLARSHIPS ($1,000); THEATER ($2,000)	3,000
ST OLAF COLLEGE 1520 ST OLAF AVENUE NORTHFIELD,MN55057		PC	SCHOLARSHIP FUND	60,000
STEGER CENTER FOR INNOVATION & LEADERSHIP 2008 PORTLAND AVENUE ST PAUL,MN55104		PC	OPERATING	10,000
THE ADVOCATES FOR HUMAN RIGHTS 330 SECOND AVENUE SOUTH SUITE 800 MINNEAPOLIS,MN55401		PC	WOMEN'S RIGHTS PROGRAM ($25,000); ACT NOW! CAMPAIGN ($12,500)	37,500
THE HISTORY THEATRE INC 30 E 10TH ST ST PAUL,MN55101		PC	OPERATING	10,000
THE LIBRARY FOUNDATION INC SERVING THE PEOPLE OF MULTNOMAH COUNTY 620 SW FIFTH AVENUE SUITE 1025 PORTLAND,OR97204		PC	OPERATING	30,000
UNIVERSITY OF MINNESOTA FOUNDATION 200 OAK STREET SE MINNEAPOLIS,MN55455		PC	RAPTOR CENTER FUND ($5,000); CENTER FOR FOREST ECOLOGY ($5,000)	10,000
UNIVERSITY OF WISCONSIN-MADISON 1848 UNIVERSITY AVENUE MADISON,WI53726		PC	NELSON INSTITUTE, ACADEMIC PROGRAM OFFICE AND CARNIVORE COEXISTENCE LAB	15,000
WORLD WILDLIFE FUND INC (WWF) 1250 24TH ST NW WASHINGTON,DC20037		PC	OPERATING ($100,000); NORTHERN GREAT PLAINS CONSERVATION ($10,000)	110,000
Total ................................. 3a				896,500

bApproved for future payment

Total ................................. 3b				0

Form 990-PF (2024)

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	(e) Related or exempt function income (See instructions.)
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	143,524
4 Dividends and interest from securities ....			14	550,780
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	404,854
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		1,099,158	0

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

1,099,158

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

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part 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 (2024)

Page 13

Part XVI

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

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Yes

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

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

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

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........Yes No

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.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2024)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2024 AccountingFeesSchedule

Name:

THE OLSETH FOUNDATION

EIN:

41-1875950

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ACCOUNTING FEES	14,580	0		14,580

- TIN:

TY 2024 AllOthProgRltdInvestmentsSch

Name:

THE OLSETH FOUNDATION

EIN:

41-1875950

Category	Amount
NONE	0

- TIN:

TY 2024 GeneralExplanationAttachment

Name:

THE OLSETH FOUNDATION

EIN:

41-1875950

Identifier	Return Reference	Explanation
SUMMARY OF DIRECT CHARITABLE ACTIVITY	FORM 990-PF, PART IX-A, LINE 1	THE OLSETH FOUNDATION CONTINUED TO ENGAGE IN SEVERAL DIRECT CHARITABLE ACTIVITIES DURING THE YEAR 2024.IN 2024, THE FOUNDATION LAUNCHED ITS NEW NONPROFIT COLLABORATION PROGRAM. WHILE MAKING CONNECTIONS WITH NONPROFIT ORGANIZATIONS IN DIFFERENT REGIONS OF THE UNITED STATES TO FURTHER ITS CHARITABLE INITIATIVES, THE FOUNDATION RECOGNIZED THAT NONPROFITS COULD LEARN FROM EACH OTHER TO SOLVE BIG PROBLEMS IN THEIR RESPECTIVE COMMUNITIES. FOR EXAMPLE, THE FOUNDATION FUNDED A COLLABORATION BETWEEN TWO ORGANIZATIONS THAT SUPPORT THE HOMELESS: PATH HOME IN PORTLAND, OREGON AND PEOPLE SERVING PEOPLE IN MINNEAPOLIS, MINNESOTA. MEMBERS OF KEY LEADERSHIP FROM BOTH ORGANIZATIONS VISITED EACH OTHER'S PHYSICAL LOCATIONS AND GENERATED IMPACTFUL DIALOGUE ON HOW TO ADDRESS ISSUES SUCH AS HOMELESSNESS PREVENTION, STAFFING AND HUMAN RESOURCES, AND SPACE DESIGN. BOTH ORGANIZATIONS HAD VALUABLE TAKEAWAYS AND WILL CONTINUE AND ONGOING RELATIONSHIP.THE FOUNDATION ALSO DEEPENED ITS WORK IN THE ENVIRONMENTAL AREA TO ADVANCE ITS INITIATIVE OF CARBON REDUCTION AND CLEAN ENERGY. LED BY BOARD MEMBER/OFFICER JON OLSETH, THE FOUNDATION HAS BEEN ACTIVELY ENGAGED WITH THE WORK OF RECHARGE AMERICA (HTTPS://WWW.RECHARGE-MINNESOTA.ORG) SINCE ITS INCEPTION. THE MISSION OF RECHARGE AMERICA IS TO ACCELERATE THE ADOPTION OF ELECTRIC VEHICLES (EV) AND SUPPORT EXPANDED INFRASTRUCTURE DEVELOPMENT THROUGH THE UTILIZATION OF HIGH-IMPACT COMMUNITY ENGAGEMENT. IN 2018, MINNESOTA STATE UNIVERSITY HOSTED THE FIRST ANNUAL RECHARGE RIDE & DRIVE EVENT IN MANKATO, MINNESOTA, GATHERING SUPPORT FOR EV ADOPTION FROM A WIDE VARIETY OF COMMUNITY STAKEHOLDERS.RECHARGE MINNESOTA, A BRANCH OF RECHARGE AMERICA THAT IS FOCUSED ON EV ADOPTION IN THE STATE OF MINNESOTA, HAS CONTINUED TO BUILD MOMENTUM AND EXPAND EACH YEAR WITH THE FOUNDATION'S ACTIVE SUPPORT. IN 2024, RECHARGE MINNESOTA SPONSORED AN EV EXPO AS MINNESOTA STATE COMMUNITY & TECHNICAL COLLEGE TO FOSTER EV ADOPTION AND AWARENESS. AT ITS EV EXPOS, RECHARGE MINNESOTA SEEKS TO CAPTURE THE FULL "ELECTRIC ECOSYSTEM" BY CREATING A SPACE TO EXPLORE A VARIETY OF HANDS-ON EXPERIENCES THAT INCLUDE TEST DRIVING THE LATEST EV MODELS, INTERACTING WITH CHARGING OPTIONS, ELECTRIC BIKES, AND OTHER FORMS OF ELECTRIC MOBILITY, WHILE LEARNING FROM INDUSTRY EXPERTS AND LOCAL EV OWNERS ABOUT THE BENEFITS OF DRIVING ELECTRIC. IN SEPTEMBER 2024, RECHARGE MINNESOTA HOSTED A RECHARGE MINNESOTA SYMPOSIUM AT THE UNIVERSITY OF MINNESOTA, BRINGING NUMEROUS NONPROFIT, PRIVATE BUSINESS, AND GOVERNMENTAL STAKEHOLDERS TOGETHER FOR PRESENTATIONS AND DISCUSSION WITH THE THEME OF ECONOMICS, EDUCATION, AND JOB CREATION: MAKING THE EV TRANSITION WORK IN YOUR COMMUNITY.IN 2024, THE RECHARGE AMERICA/RECHARGE MINNESOTA TEAM CONTINUED TO DEVELOP PLANS FOR REGIONAL RECOGNITION PROGRAMS ACKNOWLEDGING THE WORK OF LOCAL GOVERNMENT, LOCAL BUSINESSES, AND COMMUNITY PARTNERS IN FOSTERING EV ADOPTION.LED BY BOARD MEMBER/OFFICER KAREN SOLOMON, THE FOUNDATION ALSO LAID THE GROUNDWORK IN 2024 FOR THE LAUNCH OF A NEW WRITERS RESIDENCY PROGRAM IN 2025. THIS PROGRAM WILL OFFER WRITERS THE OPPORTUNITY TO FINISH A MAJOR PROJECT (E.G., NOVEL, SHORT STORY, COLLECTION OF POETRY) OR ATTEND A WRITER'S WORKSHOP IN A PLACE OF THEIR CHOOSING. THE PURPOSE OF THE RESIDENCY IS TO PROVIDE OREGON WRITERS WITH A CHANCE TO ENHANCE THEIR SKILLS AS A WRITER AND/OR FINISH A MAJOR WRITING PROJECT. THE FOUNDATION MAY MAKE GRANTS TO INDIVIDUAL WRITERS FOR LODGING, REGISTRATION FEES AT A WRITERS' RETREAT, AND A DAILY STIPEND FOR MEALS. BOARD MEMBER/OFFICER CHERYL OLSETH CONTINUED TO LEAD THE FOUNDATION'S INVOLVEMENT IN SUPPORT OF INTERNATIONAL HUMAN RIGHTS. AS A BOARD MEMBER OF THE ADVOCATES FOR HUMAN RIGHTS, SHE HOSTED LOCAL EVENTS TO PROMOTE THE PROGRAMS OF THE ADVOCATES FOR HUMAN RIGHTS. IN 2024, CHERYL OLSETH ALSO FURTHERED THE FOUNDATION'S ENVIRONMENTAL INITIATIVES BY CONTINUING HER ROLE AS CHAIR OF THE WORLD WILDLIFE FUND (WWF) NORTHERN GREAT PLAINS COMMITTEE.THESE DIRECT CHARITABLE ACTIVITIES FURTHER THE EXEMPT PURPOSES OF THE OLSETH FOUNDATION..
CHARITABLE MISSION OF THE OLSETH FOUNDATION	FORM 990-PF	THE CHARITABLE MISSION OF THE OLSETH FOUNDATION IS TO WORK TO IMPROVE OUR COMMUNITIES THROUGH SUPPORT OF THE ARTS, EDUCATION, THE ENVIRONMENT, AND THE UNDERSERVED. THE OLSETH FOUNDATION BOARD MEMBERS DEMONSTRATE THEIR COMMITMENT TO THE FOUR PILLARS OF THEIR MISSION THROUGH BOARD SERVICE AND COLLABORATION WITH OTHER CHARITABLE ORGANIZATIONS WHOSE CHARITABLE OBJECTIVES ARE SIMILAR IN FOCUS. BOARD MEMBERS OF THE OLSETH FOUNDATION SERVE AS BOARD MEMBERS OR ADVISORS OF WORLD WILDLIFE FUND (WWF), WWF NORTHERN GREAT PLAINS, PLANNED PARENTHOOD NORTH CENTRAL STATES, THE ADVOCATES FOR HUMAN RIGHTS, AND RECHARGE AMERICA. IN PARTNERSHIP WITH THEIR GRANTEES, THEY DEVELOP CONTENT ON ELECTRIC VEHICLE USE, FOOD INSECURITY, HUMAN RIGHTS, AND RACIAL INJUSTICE. THEY ARE LEADERS IN THE EFFORT TO EXPAND THE ADOPTION OF ELECTRIC VEHICLES IN THE COMMUNITY OF MANKATO, THROUGHOUT THE STATE OF MINNESOTA, AND NATIONALLY. IN 2023, THE OLSETH FOUNDATION CONTINUED TO STREAMLINE ITS CHARITABLE ACTIVITIES AROUND FIVE INITIATIVES THAT ALIGN DIRECTLY WITH ITS MISSION, INCLUDING: SPECIES CONSERVATION, CARBON REDUCTION AND CLEAN ENERGY, ENGENDERING DIGNITY, RESPECT AND EQUALITY, SECURING FOOD AND HOUSING, AND USING ART, CULTURE, LITERATURE, AND EXTRACURRICULAR EXPERIENCES TO BROADEN PERSPECTIVES. PLEASE VISIT WWW.OLSETHFAMILYFOUNDATION.ORG FOR MORE INFORMATION ABOUT THE INITIATIVES, CHARITABLE PARTNERSHIPS AND COLLABORATIONS OF THE OLSETH FOUNDATION.

- TIN:

TY 2024 InvestmentsCorpBondsSchedule

Name:

THE OLSETH FOUNDATION

EIN:

41-1875950

Name of Bond	End of Year Book Value	End of Year Fair Market Value
BANK OF NEW YORK MELLON CALLABLE	24,213	24,763
CHEVRON SENIOR UNSECURED CALLABLE	47,126	49,457
COMERICA HYBRID PREFERRED	222,000	223,664
DEER PARK TOTAL RETURN CREDIT	1,014,116	931,377
FEDERAL FARM CREDIT BANK HYBRID PREF	249,833	249,550
JP MORGAN STRATEGIC INCOME OPPS	1,100,000	1,098,742
MCDONALDS	111,951	107,461
METLIFE INC. JR SUBORDINATED	90,000	98,177
SCHWAB HYBRID PREFERRED	225,191	223,594
T MOBILE HYBRID PREFERRED	182,656	181,540
TRUIST HYBRID PREFERRED	199,500	198,324
VISA INC. SENIOR NOTES	47,634	49,421
WELLS FARGO HYBRID PREFERRED	249,688	249,548

- TIN:

TY 2024 InvestmentsCorpStockSchedule

Name:

THE OLSETH FOUNDATION

EIN:

41-1875950

Name of Stock	End of Year Book Value	End of Year Fair Market Value
APPLE INC	261,023	2,754,620
BANK OF MONTREAL	104,484	194,100
BERKSHIRE HATHAWAY INC DEL CL B	259,556	906,560
BROWN ADVISORY SUSTAINABLE GROWTH FUND INST CLASS	618,256	2,056,167
ECOLAB	109,620	175,740
MEDTRONIC PLC COM	681,011	718,920
MFS SER TR X INTERNATIONAL DIVERSIFICATION FUND CL I	1,440,155	2,044,811
NVENT ELECTRIC PLC ORDINARY SHARES	41,545	170,400
PENTAIR PLC SHS	81,957	251,600
SURMODICS INC	166,445	276,883
TORO CO	224,805	560,700
TOUCHSTONE MID CAP FUND GROUP TR MID CAP FD Y	454,181	997,622
TOUCHSTONE STRATEGIC TR GLOBAL ESG EQUITY FUND CLASS Y	1,109,845	1,338,389

- TIN:

TY 2024 InvestmentsOtherSchedule2

Name:

THE OLSETH FOUNDATION

EIN:

41-1875950

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
BANK OF NOVA SCOTIA	AT COST	109,252	109,436
CITIGROUP INC	AT COST	100,567	99,728
DWS RREEF REAL ASSETS FUND INST	AT COST	765,917	924,617
FIRST EAGLE GLOBAL FUND CL I	AT COST	1,115,010	1,410,195
FRANKLIN TEMPLETON HIGH YIELD CORPORATE ETF	AT COST	567,656	596,750
LAZARD GROUP LLC SR NT	AT COST	99,430	97,273
MFS SER TR XIII GLOBAL REAL ESTATE FD CL I	AT COST	250,000	264,861
PACER US CASH COW 100 ETF	AT COST	650,788	847,200
PACER US SMALL CAP CASH COW ETF	AT COST	748,096	880,200
PRINCIPAL EXCHANGE TRADED FDS	AT COST	336,411	372,200
THORNBURG INVT TR INVT INCOME BUILDER FD CL I	AT COST	1,337,670	1,708,794
TOUCHSTONE STRATEGIC TR SNDS CAP EMRNG MKTS GRWTH CL Y	AT COST	400,000	448,630
VANGUARD INDEX FUNDS HIGH DIVIDEND YIELD ETF	AT COST	111,560	127,590
VANGUARD INDEX FUNDS VANGUARD GROWTH ETF	AT COST	276,826	1,026,100
VANGUARD INDEX FUNDS VANGUARD MIDCAP ETF	AT COST	145,995	330,163
VANGUARD INDEX FUNDS VANGUARD SMALLCAP ETF	AT COST	272,005	600,700
VANGUARD SPECIALIZED FUNDS VANGUARD DIVIDEND APPRECIATION ETF	AT COST	226,309	587,490

- TIN:

TY 2024 OtherDecreasesSchedule

Name:

THE OLSETH FOUNDATION

EIN:

41-1875950

Description	Amount
COST BASIS ADJUSTMENT	50

- TIN:

TY 2024 OtherExpensesSchedule

Name:

THE OLSETH FOUNDATION

EIN:

41-1875950

Description	Revenue and Expenses per Books	Disbursements for Charitable Purposes
DUES & SUBSCRIPTIONS	1,634	1,634
FILING FEES	3,500	3,500
REGISTRATION FEE	400	400

- TIN:

TY 2024 OtherProfessionalFeesSchedule

Name:

THE OLSETH FOUNDATION

EIN:

41-1875950

Category	Amount	Net Investment Income	Disbursements for Charitable Purposes
LEGAL AND ADVISORY SERVICES	76,869	0	76,869
RBC MANAGEMENT FEES	166,854	166,854	0
RBC INVESTMENT FEES	235	235	0
PROFESSIONAL FEES - WEB	5,545	0	5,545

- TIN:

TY 2024 TaxesSchedule

Name:

THE OLSETH FOUNDATION

EIN:

41-1875950

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FOREIGN TAX PAID	1,342	16,018		0
FEDERAL PAYMENTS	24,640	0		0