Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo 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
OLESON FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 904
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
TRAVERSE CITY, MI496850904
A Employer identification number

38-6083080
B Telephone number (see instructions)

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

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$31,546,883J 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 right arrow.............
3 Interest on savings and temporary cash investments 18,879 18,879  
4 Dividends and interest from securities... 508,507 508,507  
5a Gross rents............ 920,091 920,091  
b Net rental income or (loss) 455,714
6a Net gain or (loss) from sale of assets not on line 10 -149,460
b Gross sales price for all assets on line 6a 881,698
7 Capital gain net income (from Part IV, line 2)... 0
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........ 1,298,017 1,447,477  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 105,582 26,395   79,187
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
1,119 0   1,119
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
22,475 22,475   0
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
156,337 156,337   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
235,929 223,068   5,953
19 Depreciation (attach schedule) and depletion... Click to see attachment
List of Attached Documents:
// Content
82,138 82,138  
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
110,418 101,790   8,628
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 713,998 612,203   94,887
25 Contributions, gifts, grants paid....... 1,580,380 1,580,380
26 Total expenses and disbursements. Add lines 24 and 25 2,294,378 612,203   1,675,267
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -996,361
b Net investment income (if negative, enter -0-) 835,274
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 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............. 1,644,949 757,454 757,454
2 Savings and temporary cash investments.........      
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
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) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow6,364,606
Less: accumulated depreciation (attach schedule) right arrow2,534,157 4,337,209 Click to see attachment
List of Attached Documents:
// Content
3,830,449 		8,820,376
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 18,000,820 Click to see attachment
List of Attached Documents:
// Content
18,405,033 		21,956,053
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
101,868 		Click to see attachment
List of Attached Documents:
// Content
101,868 		Click to see attachment
List of Attached Documents:
// Content
13,000
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 24,084,846 23,094,804 31,546,883
Liabilities 17 Accounts payable and accrued expenses.......... 1,670 7,989
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 right arrow)    
23 Total liabilities (add lines 17 through 22)......... 1,670 7,989
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
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 right arrow
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 24,083,176 23,086,815
29 Total net assets or fund balances (see instructions)..... 24,083,176 23,086,815
30 Total liabilities and net assets/fund balances (see instructions). 24,084,846 23,094,804
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
24,083,176
2
Enter amount from Part I, line 27a .....................
2
-996,361
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
23,086,815
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
23,086,815
Form 990-PF (2024)
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 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a VANGUARD TOTAL STOCK MKT IDX ADM P 2020-10-29 2024-03-27
b VANGUARD TOTAL STOCK MKT IDX ADM P 2020-10-29 2024-06-20
c VANGUARD TOTAL STOCK MKT IDX ADM P 2020-10-29 2024-12-10
d VANGUARD TOTAL STOCK MKT IDX ADM P 2020-10-29 2024-12-19
e SALE OF LAND P 2011-07-01 2024-02-23
SCHWAB US LARGE-CAP ETF P 2021-06-24 2024-06-05
CAPITAL GAINS DIVIDENDS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 6,000   4,180 1,820
b 12,000   8,073 3,927
c 300,000   181,499 118,501
d 15,000   9,379 5,621
e 245,025   609,028 -364,003
265,461   218,999 46,462
38,212     38,212
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       1,820
b       3,927
c       118,501
d       5,621
e       -364,003
      46,462
      38,212
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 -149,460
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
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 right arrow 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) 1 11,610
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 11,610
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 11,610
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 18,454
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.............. Part VI Line 7 - Original Return Overpayment : -6843 7 11,611
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 1
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 0
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10  
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow   Refundedright arrow 11  
Form 990-PF (2024)
Form 990-PF (2024)
Page 4
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. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet 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)
right arrowMI
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 2024 or the taxable year beginning in 2024? 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
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 addressright arrowOLESONFOUNDATION.ORG
14
The books are in care ofright arrowSTEPHANIE RUSTEM Telephone no.right arrow (231) 929-2605

Located atright arrowPO BOX 904TRAVERSE CITYMI ZIP+4right arrow496850904
15
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
15
 
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)
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
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)
Yes
 
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(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
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
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 2024? .............
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 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
2a
 
No
If "Yes," list the years right arrow20, 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.
right arrow20, 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 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.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
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
Organizations relying on a current notice regarding disaster assistance check .........right arrow
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
STEPHANIE RUSTEM EXECUTIVE DIRECTOR AS OF 3/4/24
32.00 		47,494 0 0
PO BOX 904
TRAVERSE CITY,MI49685
KATHY HUSCHKE EXECUTIVE DIRECTOR THRU 9/14/24
32.00 		58,088 0 0
PO BOX 904
TRAVERSE CITY,MI49685
MARTHA OLESON PRESIDENT
1.00 		0 0 0
PO BOX 904
TRAVERSE CITY,MI49685
DONALD M OLESON VICE-PRESIDENT
1.00 		0 0 0
PO BOX 904
TRAVERSE CITY,MI49685
RICHARD FORD SECRETARY
1.00 		0 0 0
PO BOX 904
TRAVERSE CITY,MI49685
DONALD W OLESON DIRECTOR
1.00 		0 0 0
PO BOX 904
TRAVERSE CITY,MI49685
GERALD OLESON DIRECTOR
1.00 		0 0 0
PO BOX 904
TRAVERSE CITY,MI49685
CONNIE DENEWETH DIRECTOR
1.00 		0 0 0
PO BOX 904
TRAVERSE CITY,MI49685
BRAD OLESON DIRECTOR
1.00 		0 0 0
PO BOX 904
TRAVERSE CITY,MI49685
SAMANTHA OLESON-HANSEN DIRECTOR
1.00 		0 0 0
PO BOX 904
TRAVERSE CITY,MI49685
BENJAMIN WATTS DIRECTOR
1.00 		0 0 0
PO BOX 904
TRAVERSE CITY,MI49685
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2024)
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
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
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 N/A 0
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 0
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
Form 990-PF (2024)
Form 990-PF (2024)
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
21,293,006
b
Average of monthly cash balances.......................
1b
1,199,131
c
Fair market value of all other assets (see instructions)................
1c
8,833,376
d
Total (add lines 1a, b, and c).........................
1d
31,325,513
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
31,325,513
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
469,883
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
30,855,630
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
1,542,782
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
1,542,782
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
11,610
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
11,610
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,531,172
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
1,531,172
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
1,531,172
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
1,675,267
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
1,675,267
Form 990-PF (2024)
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 1,531,172
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 43,735
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2024:
a From 2019......  
b From 2020......  
c From 2021......  
d From 2022......  
e From 2023......  
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 1,675,267
a Applied to 2023, but not more than line 2a 43,735
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..... 1,531,172
e Remaining amount distributed out of corpus 100,360
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 5 100,360
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) ... 		0
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		100,360
10 Analysis of line 9:
a Excess from 2020....  
b Excess from 2021....  
c Excess from 2022....  
d Excess from 2023....  
e Excess from 2024.... 100,360
Form 990-PF (2024)
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 or
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
         
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).)
MARTHA OLESON
DONALD M OLESON
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here 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 e-mail address of the person to whom applications should be addressed:
MS STEPHANIE RUSTEM
PO BOX 904
TRAVERSE CITY,MI496850904
(231) 929-2605
bThe form in which applications should be submitted and information and materials they should include:
APPLICATION FORM POSTED ON FOUNDATION'S WEBSITE
cAny submission deadlines:
APRIL 1ST OF EACH CALENDAR YEAR
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
PREFERENCE IS GIVEN TO CHARITABLE AND EXEMPT ORGANIZATIONS WHICH ARE LOCATED IN NORTHWESTERN LOWER MICHIGAN.
Form 990-PF (2024)
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)
aPaid during the year

5 LOAVES 2 FISHES

171 RIVERSIDE DRIVE
WELCH,WV24801 		NONE OTHER NONPROFIT PURCHASE AND INSTALL CONVECTION OVEN 6,000

ADDICTION TREATMENT SERVICES

747 E EIGHTH STREET
TRAVERSE CITY,MI49686 		NONE OTHER NONPROFIT FAMILY SUPPORT FOR PEOPLE WITH SUBSTANCE USE DISORDER 15,000

BENZIE AREA CHRISTIAN NEIGHBORS

PO BOX 93
BENZONIA,MI79616 		NONE OTHER NONPROFIT EXPANSION OF FOOD PROGRAMS AT THEIR NEW CENTER 10,000

BENZIE SENIOR RESOURCES

10542 MAIN ST
HONOR,MI49640 		NONE OTHER NONPROFIT GRANT FOR MEALS ON WHEELS DELIVERY VEHICLE 17,000

BIG BROTHERS BIG SISTERS

900 E FRONT STR 125
TRAVERSE CITY,MI49686 		NONE OTHER NONPROFIT CHILD SAFETY TRAINING FOR STAFF AND VOLUNTEERS 15,000

BOTANIC GARDEN AT HISTORIC BARNS PARK

1490 RED DR
TRAVERSE CITY,MI49684 		NONE OTHER NONPROFIT CAPITAL CAMPAIGN - DAIRY BARN INTO EDUCATION AND CONFERENCE CENTER 20,000

CHARLEVOIX AREA COMMUNITY POOL

11905 US-31
CHARLEVOIX,MI49720 		NONE OTHER NONPROFIT AUTOMATED POOL CHEMICAL MIXING SYSTEM 7,500

CHERRYLAND HUMANE SOCIETY

1750 AHLBERG ROAD
TRAVERSE CITY,MI49696 		NONE OTHER NONPROFIT SUPPORT AND PROGRAMS 10,000

CHILD & FAMILY SERVICES NW MI

3785 VETERANS DRIVE
TRAVERSE CITY,MI49684 		NONE OTHER NONPROFIT RENOVATION OF YOUTHWORK TRAINING AND EDUCATIONAL CENTER 35,000

CITY OF TRAVERSE CITY AND CHARTER TOWNSHIP OF GARFIELD

3848 VETERANS DR
TRAVERSE CITY,MI49684 		NONE GOVERNMENTAL STANDARDIZE WAYFINDING SIGNS ACROSS HICKORY PROPERTIES 10,000

CITY OPERA HOUSE HERITAGE ASSOCIATION

106 E FRONT ST
TRAVERSE CITY,MI49684 		NONE OTHER NONPROFIT SUPPORT AND PROGRAMS 25,000

CONSERVATION RESOURCE ALLIANCE

10850 E TRAVERSE HWY 1180
TRAVERSE CITY,MI49684 		NONE OTHER NONPROFIT DESIGN PHASE OF THE RESTORATION PROJECT ON MITCHELL CREEK 10,000

COUNCIL OF MICHIGAN FOUNDATIONS

ONE SOUTH HARBOR SUITE 3
GRAND HAVEN,MI49417 		NONE OTHER NONPROFIT MEMBERSHIP DUES 11,100

DIRECTORS FUND

ONE UNION STATION
PROVIDENCE,RI02903 		NONE OTHER NONPROFIT DIRECTORS FUND 90,000

ECHO HIS LOVE

525 MICHAEL ST
MANISTEE,MI49660 		NONE OTHER NONPROFIT HELP FOR FAMILIES IN NEED 10,000

FATHER FRED FOUNDATION

826 HASTINGS ST
TRAVERSE CITY,MI49686 		NONE OTHER NONPROFIT HELP FOR FAMILIES IN NEED 10,000

FLOW

440 WEST FRONT STREET SUITE 100
TRAVERSE CITY,MI49684 		NONE OTHER NONPROFIT GREAT LAKES PROTECTION PROGRAM 5,000

FRIENDS OF FIFE LAKE PUBLIC LIBRARY

77 LAKECREST LN
FIFE LAKE,MI49633 		NONE OTHER NONPROFIT CAPITAL PROJECT - TWO-STORY ADDITION AT FIFE LAKE PUBLIC LIBRARY 50,000

FRIENDS OF GARDEN THEATER

PO BOX 341
FRANKFORT,MI49635 		NONE OTHER NONPROFIT SOLAR GARDEN ON THE ROOF OF THEATER 10,000

FRIENDS OF GT CONSERVATION DISTRICT

1450 CASS RD
TRAVERSE CITY,MI49685 		NONE OTHER NONPROFIT BOARDMAN CROSSING FOOTBRIDGE CONSTRUCTION 50,000

FRIENDSHIP CENTERS OF EMMET COUNTY

1322 ANDERSON ROAD
PETOSKEY,MI49770 		NONE OTHER NONPROFIT REPLACE AGING MEALS ON WHEELS VEHICLE 6,000

FRIENDSHIP COMMUNITY CENTER INC

201 BROADWAY ST
SUTTONS BAY,MI49682 		NONE OTHER NONPROFIT LEELANAU INVESTING FOR TEENS (LIFT) PROGRAMMING IN SUTTONS BAY 15,000

GENERATIONS AHEAD

3962 N THREE MILE RD
TRAVERSE CITY,MI49686 		NONE OTHER NONPROFIT CAREER INTERNSHIP PROGRAM FOR TEEN AND YOUNG ADULT PARENTS 7,000

GLEN ARBOR ART ASSOCIATION

GLEN ARBOR ART ASSOCIATION
GLEN ARBOR,MI49636 		NONE OTHER NONPROFIT SUPPORT SUMMER YOUTH ARTS EDUCATION PROGRAMS 5,000

GOOD SAMARITAN FAMILY SERVICES

9746 MAIN STREET
ELLSWORTH,MI49729 		NONE OTHER NONPROFIT FOOD FOR FAMILIES IN NEED 10,000

GOODWILL INDUSTRIES OF NORTHERN MICHIGAN

2279 W SOUTH AIRPORT
TRAVERSE CITY,MI49686 		NONE OTHER NONPROFIT NEW BOX TRUCK FOR FOOD RESCUE PROGRAM OPERATIONS 50,000

GRACE EPISCOPAL CHURCH

341 WASHINGTON ST
TRAVERSE CITY,MI49684 		NONE OTHER NONPROFIT JUBILEE HOUSE SUPPORT 5,000

GRAND TRAVERSE BAY YMCA

3700 SILVER LAKE RD
TRAVERSE CITY,MI49684 		NONE OTHER NONPROFIT CAPITAL CAMPAIGN TO EXPAND YMCA FACILITIES 50,000

GRAND TRAVERSE REGIONAL COMMUNITY FOUNDATION

223 LAKE AVE SUITE B
TRAVERSE CITY,MI49684 		NONE OTHER NONPROFIT EMERGENCY SANITARY EQUIPMENT AT THE PINES 10,000

GRAND TRAVERSE REGIONAL LAND CONSERVANCY

3860 N LONG LAKE RD D
TRAVERSE CITY,MI49684 		NONE OTHER NONPROFIT ACQUISITION OF THE RIDGE PROPERTY 85,000

HABITAT FOR HUMANITY GRAND TRAVERSE REGION

2487 RICE ST
TRAVERSE CITY,MI49684 		NONE OTHER NONPROFIT START BUILDING 4 NEW HOMES IN NEW WAVES COMMUNITY 25,000

HOOP'S PET FOOD PANTRY

1239 WOODMERE AVE
TRAVERSE CITY,MI49686 		NONE OTHER NONPROFIT PURCHASE TRAILER FOR PET FOOD STORAGE AND DELIVERY 9,000

HORSE NORTH RESCUE

20432 RICHARDSON RD
LAKE ANN,MI49650 		NONE OTHER NONPROFIT SUPPORT FOR HUMANE SOCIETY FOR HORSES 5,000

HOSPICE OF MICHIGAN

10850 E TRAVERSE HWY 3325
TRAVERSE CITY,MI49684 		NONE OTHER NONPROFIT HOSPICE PROGRAMS FOR CHILDREN AND FAMILIES 10,000

INLAND SEAS EDUCATION CENTER

100 DAME ST
SUTTONS BAY,MI49682 		NONE OTHER NONPROFIT MATCHING FUNDS FOR CAPITAL CAMPAIGN 50,000

INTERLOCHEN CENTER FOR THE ARTS

4000 J MADDY PKWY
INTERLOCHEN,MI49643 		NONE OTHER NONPROFIT FAMILY-FRIENDLY WINTER ARTS FESTIVAL 10,000

KEYS TO FREEDOM MINISTRIES

PO BOX 4418
TRAVERSE CITY,MI49684 		NONE OTHER NONPROFIT RECOVERY HOUSING FOR POST-INCARCERATED PEOPLE 5,000

LEELANAU CONSERVANCY

105 N FIRST ST
LELAND,MI49654 		NONE OTHER NONPROFIT KEHL LAKE PROJECT 10,000

LEGACY AVIATION LEARNING CENTER

4821 JANES RD
SAGINAW,MI48601 		NONE OTHER NONPROFIT PURCHASE AVIATION TRAINING SIMULATORS 16,000

LITTLE TRAVERSE BAY HUMANE SOCIETY

9582 13000 W CONWAY ROAD
HARBOR SPRINGS,MI49740 		NONE OTHER NONPROFIT SUPPORT AND PROGRAMS 25,000

LITTLE TRAVERSE CONSERVANCY

3264 POWELL ROAD
HARBOR SPRINGS,MI49740 		NONE GOVERNMENTAL PURCHASE 18-ACRES TO ADD TO BLACK HOLE NATURE PRESERVE 20,000

LONG LAKE TOWNSHIP

8870 NORTH LONG LAKE RD
TRAVERSE CITY,MI49685 		NONE OTHER NONPROFIT LONG LAKE WATER QUALITY REPORT 1,569

MANA FOOD PROJECT

8791 MCBRIDE PARK DR
HARBOR SPRINGS,MI49740 		NONE OTHER NONPROFIT FOOD FOR FAMILIES IN NEED 10,000

MOUNT HOLIDAY

3100 HOLIDAY ROAD
TRAVERSE CITY,MI49686 		NONE OTHER NONPROFIT REDESIGN AND PURCHASE SNOWMAKING INFRASTRUCTURE 50,000

MUNSON HEALTHCARE REGIONAL FOUNDATION

7823 1150 MEDICAL CAMPUS DR
TRAVERSE CITY,MI49684 		NONE OTHER NONPROFIT UPGRADE BREAST HEALTH DIAGNOSTICS AT CHARLEVOIX HOSPITAL 20,000

NATIONAL WRITERS SERIES

3301 VETERANS DRIVE
TRAVERSE CITY,MI49684 		NONE OTHER NONPROFIT SUPPORT BATTLE OF THE BOOKS YOUTH COMPETITION 5,000

NEW COMMUNITY VISION

2111 UNIVERSITY PARK DR STE 100
OKEMOS,MI48864 		NONE OTHER NONPROFIT PURCHASE TIMBER SHORES PROPERTY FOR PUBLIC RECREATIONAL USE 50,000

NONPROFIT RENTALS

2173 COMMONS PKWY
OKEMOS,MI48864 		NONE OTHER NONPROFIT ZONTA ($34,171) AND THE FESTIVAL FOUNDATION ($36,040) 70,211

NORTH CENTRAL MICHIGAN COLLEGE FOUNDATION

1515 HOWARD ST
PETOSKEY,MI49770 		NONE COLLEGE MEDICAL AND HEALTH EDUCATION FACILITY CONSTRUCTION 30,000

NORTHMEN DEN

422 E MITCHELL ST STE 4
PETOSKEY,MI49770 		NONE OTHER NONPROFIT YOUTH PANTRY 5,000

NORTHWEST MICHIGAN HABITAT FOR HUMANITY

8446 M-119
HARBOR SPRINGS,MI49740 		NONE OTHER NONPROFIT COMPLETION OF 46 AFFORDABLE HOMES BY 2025 25,000

NORTHWEST MICHIGAN INVASIVE SPECIES NETWORK

3334 VETERANS DRIVE UNIT A
TRAVERSE CITY,MI49685 		NONE OTHER NONPROFIT PURCHASE WORK TRUCK FOR INVASIVE SPECIES MANAGEMENT 10,000

NORTHWEST MICHIGAN SUPPORTIVE HOUSING

250 E FRONT ST 320
TRAVERSE CITY,MI49684 		NONE OTHER NONPROFIT UTILITY COSTS FOR CLIENTS IN PERMANENT SUPPORTIVE HOUSING 5,000

NORTHWESTERN MICHIGAN COLLEGE FOUNDATION

1710 EAST FRONT STREET
TRAVERSE CITY,MI49686 		NONE COLLEGE NMC STUDENT MOBILE FOOD PANTRY AND OLESON CENTER UPDATES 30,000

NW MI FOOD COALITION

3963 N THREE MILE RD
TRAVERSE CITY,MI49686 		NONE OTHER NONPROFIT FOOD FOR FAMILIES IN NEED 10,000

PEACE RANCH

2570 HOOSIER VALLEY RD
TRAVERSE CITY,MI49685 		NONE OTHER NONPROFIT FOUR-WEEK YOUTH LEADERSHIP AND RESILIENCY GROUP 2,000

PROJECT FEED THE KIDS

1081 W SOUTH AIRPORT RD
TRAVERSE CITY,MI49686 		NONE OTHER NONPROFIT EQUIPMENT TO START A MOBILE SOUP KITCHEN 10,000

ROTARY CLUB OF CHARLEVOIX CHARITIES INC

PO BOX 532
CHARLEVOIX,MI49720 		NONE OTHER NONPROFIT MT. MCSAUBA COMMUNITY PLAYGROUND INSTALLATION 15,000

SAFE HARBOR OF GRAND TRAVERSE

517 WELLINGTON ST
TRAVERSE CITY,MI49686 		NONE OTHER NONPROFIT YEAR-ROUND OPERATIONS 50,000

SEEDS

223 LAKE AVE SUITE B
TRAVERSE CITY,MI49686 		NONE OTHER NONPROFIT EXPAND FOOD ACCESS PROGRAM THROUGH TRAINING PROGRAMS 15,000

SHARECARE OF LEELANAU

7401 E DUCK LAKE ROAD
LAKE LEELANAU,MI49653 		NONE OTHER NONPROFIT OPEN FIRST MEMORY CAFE IN NORTHERN MICHIGAN 12,000

STEP UP NORTHERN MICHIGAN

3159 OGIDAKI TRAIL
TRAVERSE CITY,MI49686 		NONE OTHER NONPROFIT HELP FOR FAMILIES IN NEED 10,000

TART TRAILS

148 E FRONT ST 201
TRAVERSE CITY,MI49684 		NONE OTHER NONPROFIT CONSTRUCTION OF 5-MILES OF TRAIL AROUND SLEEPING BEAR DUNES, SUPPORT SAFE ROUTES TO SCHOOLS TRAIL ON HAMMOND ROAD 75,000

THE SALVATION ARMY - PETOSKEY

2350 MITCHELL PARK DR
PETOSKEY,MI49770 		NONE OTHER NONPROFIT PURCHASE MAINTENANCE SHED 5,000

THE SALVATION ARMY - TRAVERSE CITY

1239 BARLOW ST
TRAVERSE CITY,MI49686 		NONE OTHER NONPROFIT HELP FOR FAMILIES IN NEED; STAY HOUSED-EMERGENCY RENTAL ASSISTANCE PROGRAM 25,000

THOMPSONVILLE AREA REVITALIZATION PROJECT

PO BOX 522
THOMPSONVILLE,MI49683 		NONE OTHER NONPROFIT CAPITAL CAMPAIGN - CONSTRUCT NEW TRAILHEAD AND VISITOR CENTER 50,000

TRAVERSE BAY CHILDREN'S ADVOCACY CENTER

2000 CHARTWELL DR STE 3
TRAVERSE CITY,MI49696 		NONE OTHER NONPROFIT EXPANSION AND SUPPORT OF ORGANIZATIONAL CHANGES 30,000

TRAVERSE SYMPHONY ORCHESTRA

300 E FRONT ST 230
TRAVERSE CITY,MI49684 		NONE OTHER NONPROFIT SUPPORT AN EXPANSION OF PROGRAMMING 20,000

UNITED WE SMILE

4075 COPPER RIDGE DR
TRAVERSE CITY,MI48864 		NONE OTHER NONPROFIT DENTAL TREATMENT FOR PEOPLE EXPERIENCING DOMESTIC VIOLENCE 50,000

WOMEN'S RESOURCE CENTER OF N MICHIGAN

423 PORTER STREET
PETOSKEY,MI49770 		NONE OTHER NONPROFIT CAPITAL CAMPAIGN - CONSTRUCT NEW FACILITY 25,000

WOMEN'S RESOURCE CENTER

720 S ELMWOOD STE 2
TRAVERSE CITY,MI49684 		NONE OTHER NONPROFIT EMERGENCY SHELTER OPERATION SUPPORT 20,000
Total .................................right arrow 3a 1,580,380
bApproved for future payment
Total ................................. right arrow 3b 0
Form 990-PF (2024)
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
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 18,879  
4 Dividends and interest from securities ....     14 508,507  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....     16 455,714  
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 -149,460  
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) .. 0 833,640 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
833,640
(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 (2024)
Form 990-PF (2024)
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.
right arrow right arrow
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 Check if self-
employed right arrow		 PTIN
Firm's name Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


 Phone no.
Form 990-PF (2024)
Additional Data


Software ID:  
Software Version:  
Part VI Line 7 -Original Return Overpayment: -6,843


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 AccountingFeesSchedule
Name:
OLESON FOUNDATION
EIN:
38-6083080
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 22,475 22,475   0

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

TY 2024 DepreciationSchedule
Name:
OLESON FOUNDATION
EIN:
38-6083080
Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
Life (# of years)		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
BUILDING AND IMPROVEMENTS 1994-02-10 3,340,101 2,306,783 SL 0 % 82,138 82,138    
EQUIPMENT - ASSET #4, 5, 21, 25, 26 2005-08-31 62,030 62,030 SL 0 % 0 0    
EQUIPMENT - ASSET #27 2007-09-21 17,600 17,600 200SL 0 % 0 0    
HVAC PREMIER - ASSET #28 2007-12-01 5,459 5,459 200SL 0 % 0 0    
LAND 1994-02-10 800,000   L   0 0    
EQUIPMENT - ASSET #29 2009-04-30 27,298 27,297 200SL 0 % 0 0    
EQUIPMENT - ASSET #30 2009-06-30 7,078 7,078 200SL 0 % 0 0    
EQUIPMENT - ASSET #31 2010-08-31 14,050 14,050 200SL 0 % 0 0    
2011 LAND 2011-11-16 2,028,826   L   0 0    
HVAC 1209 ASSET #32 2015-07-01 11,722 11,722 200SL 0 % 0 0    
GARFIELD SECTION 32 DEVELOPMENT LAND 2015-07-01 210,575   L   0 0    
LAND DEVELOPMENT COSTS FOR ASSET #61 2018-07-01 577   L   0 0    
LAND DEVELOPMENT COSTS FOR ASSET #61 2019-07-01 38,529   L   0 0    
LAND DEVELOPMENT COSTS FOR ASSET #61 2020-07-01 12,874   L   0 0    
LAND DEVELOPMENT COSTS FOR ASSET #61 2021-07-01 51,434   L   0 0    
LAND DEVELOPMENT COSTS FOR ASSET #61 2022-07-01 101,908   L   0 0    
GOLDEN FOWLER ROOF W/ ASSET #1 2024-05-30 50,442   SL 0 % 0 0    

TY 2024 GeneralExplanationAttachment
Name:
OLESON FOUNDATION
EIN:
38-6083080
Identifier Return Reference Explanation
AMENDED RETURN FORM 990-PF THE RETURN WAS AMENDED TO SHOW THE ALLOCATION OF THE TWO EXECUTIVE DIRECTORS' COMPENSATION. THERE WERE NO OTHER CHANGES TO INCOME OR EXPENSE.

TY 2024 InvestmentsLandSchedule2
Name:
OLESON FOUNDATION
EIN:
38-6083080
Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
BUILDING AND IMPROVEMENTS 3,340,101 2,388,921 951,180  
EQUIPMENT - ASSET #4, 5, 21, 25, 26 62,030 62,030 0  
EQUIPMENT - ASSET #27 17,600 17,600 0  
HVAC PREMIER - ASSET #28 5,459 5,459 0  
LAND 800,000 0 800,000  
EQUIPMENT - ASSET #29 27,298 27,297 1  
EQUIPMENT - ASSET #30 7,078 7,078 0  
EQUIPMENT - ASSET #31 14,050 14,050 0  
2011 LAND 2,028,826 0 2,028,826  
HVAC 1209 ASSET #32 11,722 11,722 0  
GOLDEN FOWLER ROOF W/ ASSET #1 50,442 0 50,442  

TY 2024 InvestmentsOtherSchedule2
Name:
OLESON FOUNDATION
EIN:
38-6083080
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
AMG PANTHEON FUND CLASS AT COST 171,121 242,610
ISHARES TOTAL USD BOND AT COST 850,855 910,285
VANGUARD TOTAL INTL STOCK AT COST 1,615,893 2,580,521
VANGUARD TOTAL STOCK MKT AT COST 1,037,908 900,255
BLACKSTONE REAL ESTATE AT COST 189,038 201,793
AVANTIS EMERGING MARKETS AT COST 270,735 294,244
ISHARES CORE US AT COST 1,089,198 949,523
ISHARES MSCI EAF MIN VOL AT COST 308,762 288,143
ISHARES MSCI INTL VALUE AT COST 291,781 322,338
ISHARES MSCI USA AT COST 191,064 208,461
ISHARES MSCI USA MIN VOL AT COST 717,148 872,628
ISHARES MSCI USA MOMNTUM AT COST 561,364 976,056
ISHARES MSCI USA QLTY AT COST 535,542 869,064
ISHARES MSCI USA VALUE AT COST 579,710 729,448
ISHS MSCI INTL MOMETUM AT COST 249,410 297,068
ISHS MSCI INTL QUALITY AT COST 258,410 296,329
SCHWAB EMERGING MARKETS AT COST 286,934 232,746
SCHWAB INTERNATIONAL AT COST 1,366,823 1,302,030
SCHWAB US LARGE CAP ETF AT COST 2,580,095 3,493,898
SCHWAB US SMALL CAP ETF AT COST 383,278 380,245
VANGUARD SHORT-TERM BOND AT COST 1,746,341 1,672,586
VANGUARD TOTAL INTERNATL AT COST 638,814 549,164
FIDELITY TOTAL MARKET INDEX FUND AT COST 624,037 1,220,799
AMERICAN EUROPACIFIC GROWTH FUND AT COST 316,296 324,752
THE GROWTH FUND OF AMERICA AT COST 93,281 200,646
INTERNATIONAL GROWTH AND INCOME FUND AT COST 174,650 210,574
PERMANENT PORTFOLIO AT COST 112,242 188,833
FIDELITY INVESTMENT GRADE AT COST 150,000 143,320
DOUBLELINE CORE FIXED INCOME AT COST 362,169 323,447
VANECK ETF TRUST MRNGSTR WDE MOAT AT COST 315,017 397,605
VANGUARD SMALL CAP INDEX FUND AT COST 92,660 173,242
ISHARES TR CORE TOTAL AT COST 244,457 203,400

TY 2024 LegalFeesSchedule
Name:
OLESON FOUNDATION
EIN:
38-6083080
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 1,119 0   1,119


TY 2024 OtherAssetsSchedule
Name:
OLESON FOUNDATION
EIN:
38-6083080
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
LAND (CHARITABLE PURPOSES) 95,848 95,848 13,000
BUILDINGS (CHARITABLE PURPOSES) 4,520 4,520 0
EQUIPMENT (CHARITABLE PURPOSES) 1,500 1,500 0


TY 2024 OtherExpensesSchedule
Name:
OLESON FOUNDATION
EIN:
38-6083080
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
OFFICE EXPENSE 1,319 659   660
INSURANCE 2,979 1,489   1,490
MISCELLANEOUS 12,955 6,477   6,478
INSURANCE, REPAIRS,CLEANING, UTILITIES AND MISCELLANEOUS 93,165 93,165   0


TY 2024 OtherProfessionalFeesSchedule
Name:
OLESON FOUNDATION
EIN:
38-6083080
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TRUST & INVESTMENT FEES-IWM 12,905 12,905   0
TRUST & INVESTMENT FEES-IPEX/SCHWAB 21,874 21,874   0
TRUST & INVESTMENT FEES-MERCER 53,568 53,568   0
REAL ESTATE MANAGEMENT FEES 67,990 67,990   0


TY 2024 TaxesSchedule
Name:
OLESON FOUNDATION
EIN:
38-6083080
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL EXCISE TAX 6,908 0   0
PAYROLL TAXES 7,937 1,984   5,953
REAL ESTATE TAXES 221,084 221,084   0