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.
Go to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2025
Open to Public Inspection
For calendar year 2025, or tax year beginning 01 - 01 2025, and ending 12 - 31, 20 25
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
TRAVERSE CITY
State or province
MI
Country  
ZIP or foreign postal code
496850904
A Employer identification number

38-6083080
B Telephone number (see instructions)

2319469349
C
G Check all that apply:

D 1. Foreign organizations, check here.............
2. Foreign organizations meeting the 85%
test, check here and attach computation ...
E
H Check type of organization:
F
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)$36,404,195J 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 .................
3 Interest on savings and temporary cash investments 817 817  
4 Dividends and interest from securities... 560,919 560,919  
5a Gross rents............ 929,228 929,228  
b Net rental income or (loss) 523,825
6a Net gain or (loss) from sale of assets not on line 10 446,022
b Gross sales price for all assets on line 6a 1,260,721
7 Capital gain net income (from Part IV, line 2)... 446,022
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........ 1,936,986 1,936,986  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 60,000 15,000   45,000
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
956 0   956
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
24,625 24,625   0
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
169,881 169,881   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
157,780 142,570   3,535
19 Depreciation (attach schedule) and depletion... Click to see attachment
List of Attached Documents:
// Content
82,623 82,623  
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
129,072 118,620   10,452
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 624,937 553,319   59,943
25 Contributions, gifts, grants paid....... 1,582,361 1,582,361
26 Total expenses and disbursements. Add lines 24 and 25 ................ 2,207,298 553,319   1,642,304
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -270,312
b Net investment income (if negative, enter -0-) 1,383,667
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2025)
Form 990-PF (2025)
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............. 757,454 445,567 445,567
2 Savings and temporary cash investments.........      
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).......      
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis 6,821,356
Less: accumulated depreciation (attach schedule) 2,616,780 3,830,449 Click to see attachment
List of Attached Documents:
// Content
4,204,576 		11,509,578
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 18,405,033 Click to see attachment
List of Attached Documents:
// Content
18,072,137 		24,436,050
14 Land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
15 Other assets (describe ) 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) 23,094,804 22,824,148 36,404,195
Liabilities 17 Accounts payable and accrued expenses.......... 7,989 7,645
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)......... 7,989 7,645
Net Assets or Fund Balances 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 23,086,815 22,816,503
29 Total net assets or fund balances (see instructions)..... 23,086,815 22,816,503
30 Total liabilities and net assets/fund balances (see instructions). 23,094,804 22,824,148
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
23,086,815
2
Enter amount from Part I, line 27a .....................
2
-270,312
3
Other increases not included in line 2 (itemize)
3
0
4
Add lines 1, 2, and 3 ..........................
4
22,816,503
5
Decreases not included in line 2 (itemize)
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
22,816,503
Form 990-PF (2025)
Form 990-PF (2025)
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 2025-06-20
b VANGUARD TOTAL STOCK MKT IDX ADM P 2020-10-29 2025-12-17
c ISHARES CORE US AGGREGATE BOND ETF P 2021-06-24 2025-12-15
d ISHARES MSCI USA QLTY FACT ETF P 2020-01-09 2025-06-04
e SCHWAB INTERNATIONAL EQUITY ETF P 2021-06-24 2025-12-15
SCHWAB US LARGE CAP ETF P 2021-06-24 2025-06-04
SCHWAB US LARGE CAP ETF P 2021-06-24 2025-10-21
SCHWAB US LARGE CAP ETF P 2021-06-24 2025-12-15
FIDELITY TOTAL MARKET INDEX FUND P 2021-01-05 2025-12-10
FIDELITY TOTAL MARKET INDEX FUND P 2021-06-15 2025-12-10
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 7,500   4,655 2,845
b 15,000   8,289 6,711
c 79,994   92,110 -12,116
d 187,508   106,722 80,786
e 75,319   62,939 12,380
340,087   247,695 92,392
216,922   140,470 76,452
125,295   80,337 44,958
96,348   54,250 42,098
26,759   17,232 9,527
89,989     89,989
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       2,845
b       6,711
c       -12,116
d       80,786
e       12,380
      92,392
      76,452
      44,958
      42,098
      9,527
      89,989
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 2 446,022
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 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 19,233
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 19,233
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 19,233
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 11,610
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 11,610
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
8 348
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed....... 9 7,971
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid... 10  
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax   Refunded 11  
For Refunded amount, also complete and attach Form 8050. See instructions.
Form 990-PF (2025)
Form 990-PF (2025)
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. $ 0(2) On foundation managers.$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.$ 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)
MI
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 2025 or the taxable year beginning in 2025? 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 addressOLESONFOUNDATION.ORG
14
The books are in care ofSTEPHANIE RUSTEM Telephone no. (231) 929-2605

Located atPO BOX 904TRAVERSE CITYMI ZIP+4496850904
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........
and enter the amount of tax-exempt interest received or accrued during the year ........
15
 
16 At any time during calendar year 2025, 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
Form 990-PF (2025)
Form 990-PF (2025)
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 ........
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 2025? .............
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 2025, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2025?....................
2a
 
No
If "Yes," list the years 20, 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.
20, 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 2025 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 Form 4720, Schedule C, to determine
if the foundation had excess business holdings in 2025.).....................
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 2025? ..
4b
 
No
Form 990-PF (2025)
Form 990-PF (2025)
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 .........
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
32.00 		60,000 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................... 0
Form 990-PF (2025)
Form 990-PF (2025)
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.........................0
Form 990-PF (2025)
Form 990-PF (2025)
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
23,461,520
b
Average of monthly cash balances.......................
1b
613,947
c
Fair market value of all other assets (see instructions)................
1c
11,522,578
d
Total (add lines 1a, 1b, and 1c).......................
1d
35,598,045
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
35,598,045
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
533,971
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
35,064,074
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
1,753,204
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
1,753,204
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
19,233
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
19,233
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,733,971
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
1,733,971
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
1,733,971
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, line 26, column (d) ..........
1a
1,642,304
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
1,642,304
Form 990-PF (2025)
Form 990-PF (2025)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2024 		(c)
2024 		(d)
2025
1 Distributable amount for 2025 from Part X, line 7 1,733,971
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2025:
a From 2020......  
b From 2021......  
c From 2022......  
d From 2023......  
e From 2024...... 100,360
f Total of lines 3a through e ........ 100,360
4Qualifying distributions for 2025 from Part
XI, line 4: $ 1,642,304
a Applied to 2024, 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 2025 distributable amount..... 1,642,304
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2025. 91,667 91,667
(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 8,693
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 2024. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2025. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2026 .......... 		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 2020 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		8,693
10 Analysis of line 9:
a Excess from 2021 ....  
b Excess from 2022 ....  
c Excess from 2023 ....  
d Excess from 2024 .... 8,693
e Excess from 2025 ....  
Form 990-PF (2025)
Form 990-PF (2025)
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 2025, enter the date of the ruling ......
 
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) 2025 (b) 2024 (c) 2023 (d) 2022
         
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, 3b, or 3c 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 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, 2b, 2c, and 2d. 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 (2025)
Form 990-PF (2025)
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

217 RECOVERY

945 E EIGHTH ST B
TRAVERSE CITY,MI49686 		NONE   PURCHASE NEW VEHICLE FOR RIDES TO ADDICTION TREATMENT 10,000

5 LOAVES 2 FISHES

171 RIVERSIDE DRIVE
WELCH,WV24801 		NONE   PURCHASE COMMERCIAL DISHWASHER 20,000

ADDICTION TREATMENT SERVICES

747 E EIGHTH STREET
TRAVERSE CITY,MI49686 		NONE   PURCHASE AIR CONDITIONER 15,000

BENZIE AREA CHRISTIAN NEIGHBORS

PO BOX 93
BENZONIA,MI79616 		NONE   BLESSINGS IN A BACKPACK PROGRAM AND FOOD FOR FAMILIES IN NEED 20,000

BIG BROTHERS BIG SISTERS

900 E FRONT STR 125
TRAVERSE CITY,MI49686 		NONE   MIDDLE SCHOOL MENTORSHIP PROGRAM AND DIRECTOR'S FUND 25,000

BOYNE HERITAGE CENTER

319 N LAKE ST
BOYNE CITY,MI49712 		NONE   MUSEUM EXHIBIT CONSTRUCTION 15,000

BRICKWAYS

935 BARLOW ST
TRAVERSE CITY,MI49686 		NONE   DIRECTOR'S FUND 1,000

CAMP LEELANAU AND KOHAHNA FDN INC

1653 S PORT ONEIDA RD
MAPLE CITY,MI49664 		NONE   NEW SAFETY EQUIPMENT FOR HIGH ROPES COURSE 10,000

CAMP QUALITY MICHIGAN

5455 GULL RD STE D 246
KALAMAZOO,MI49048 		NONE   DIRECTOR'S FUND 1,000

CARMELITE MONASTRY

3501 SILVER LAKE RD
TRAVERSE CITY,MI49684 		NONE   DIRECTORS FUND 2,000

CHALLENGE MOUNTAIN OF WALLOON HILLS INC

2205 N SPRINGBROOK RD
BOYNE FALLS,MI49713 		NONE   ADAPTIVE SKI EQUIPMENT FOR PEOPLE WITH DISABILITIES AND DIRECTOR'S FUND 5,800

CHARLEVOIX AREA COMMUNITY POOL

11905 US-31
CHARLEVOIX,MI49720 		NONE   POOL SANITATION SYSTEM UPDATE 5,000

CHARLEVOIX COMMUNITY FOOD PANTRY

100 W HURLBUT ST
CHARLEVOIX,MI49720 		NONE   DIRECTORS FUND 1,000

CHARLEVOIX COUNTY COMMUNITY FOUNDATION

301 WATER ST
EAST JORDAN,MI49727 		NONE   ICE STORM SUPPORT 5,000

CHERRYLAND HUMANE SOCIETY

1750 AHLBERG ROAD
TRAVERSE CITY,MI49696 		NONE   ANIMAL CARE AND DOG INTAKE WING 35,000

CHILD & FAMILY SERVICES NW MI

3785 VETERANS DRIVE
TRAVERSE CITY,MI49684 		NONE   CHILD CAR SEATS AND STAFF SAFETY IMPROVEMENTS AND DIRECTOR'S FUND 24,500

COGNITION SCIENCE AND DISCOVERY CENTER

232 NORTH MICHIGAN AVENUE
BEULAH,MI49617 		NONE   PURCHASE BUILDING BLOCKS EXHIBIT 11,000

CONSERVATION RESOURCE ALLIANCE

10850 E TRAVERSE HWY 1180
TRAVERSE CITY,MI49684 		NONE   ROAD STREAM CROSSING IMPROVEMENT AND DIRECTOR'S FUND 62,000

COUNCIL OF MICHIGAN FOUNDATIONS

ONE SOUTH HARBOR SUITE 3
GRAND HAVEN,MI49417 		NONE   MEMBERSHIP DUES 6,500

CROOKED TREE ARTS COUNCIL

322 6TH STREET
TRAVERSE CITY,MI49684 		NONE   DIRECTORS FUND 2,000

CROSSHATCH

414 E EIGHT ST STE 201
TRAVERSE CITY,MI49686 		NONE   CAPITAL CAMPAIGN: OUTDOOR CLASSROOM 15,000

ELK RAPIDS DISTRICT LIBRARY

300 ISLE OF PINES DR
ELK RAPIDS,MI49629 		NONE   LIBRARY CAPITAL CAMPAIGN 25,000

EXPONENT PHILANTHROPY

1720 N STREET NW
WASHINGTON,DC20036 		NONE   MEMBERSHIP DUES 850

FATHER FRED FOUNDATION

826 HASTINGS ST
TRAVERSE CITY,MI49686 		NONE   EMERGENCY SUPPORT FOR PEOPLE IN NEED AND DIRECTOR'S FUND 14,000

FLOW

440 WEST FRONT STREET SUITE 100
TRAVERSE CITY,MI49684 		NONE   GRADUATE STUDENT RESEARCH TEAM 5,000

FRESH WIND CHRISTIAN COMMUNITY

18201 HONOR HWY
INTERLOCHEN,MI49643 		NONE   DIRECTOR'S FUND 1,000

FRIENDSHIP CENTERS OF EMMET COUNTY

1322 ANDERSON ROAD
PETOSKEY,MI49770 		NONE   DIRECTORS FUND 1,000

FRIENDSHIP COMMUNITY CENTER INC

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

GENERATIONS AHEAD

3962 N THREE MILE RD
TRAVERSE CITY,MI49686 		NONE   TEEN FATHER PROGRAM 5,000

GLEN ARBOR ART ASSOCIATION

GLEN ARBOR ART ASSOCIATION
GLEN ARBOR,MI49636 		NONE   NEW FURNACE AND POTTERY WHEELS 10,000

GOOD SAMARITAN FAMILY SERVICES

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

GOODWILL INDUSTRIES OF NORTHERN MICHIGAN

2279 W SOUTH AIRPORT
TRAVERSE CITY,MI49686 		NONE   CAPITAL CAMPAIGN: PURCHASE STREET OUTREACH VEHICLE AND DIRECTOR'S FUND 57,900

GRACE EPISCOPAL CHURCH

341 WASHINGTON ST
TRAVERSE CITY,MI49684 		NONE   JUBILEE HOUSE SUPPORT AND DIRECTOR'S FUND 55,000

GRAND TRAVERSE AREA CATHOLIC SCHOOLS

123 E 11TH STREET
TRAVERSE CITY,MI49684 		NONE   DIRECTORS FUND 4,000

GRAND TRAVERSE BAY YMCA

3700 SILVER LAKE RD
TRAVERSE CITY,MI49684 		NONE   CAPITAL CAMPAIGN: CHILD WATCH CENTER UPGRADES AND DIRECTOR'S FUND 52,000

GRAND TRAVERSE REGIONAL COMMUNITY FOUNDATION

223 LAKE AVE SUITE B
TRAVERSE CITY,MI49684 		NONE   DIRECTOR'S FUND 2,100

GRAND TRAVERSE REGIONAL LAND CONSERVANCY

3860 N LONG LAKE RD D
TRAVERSE CITY,MI49684 		NONE   THE RIDGE EXPANSION AND DIRECTOR'S FUND 54,000

GRASS RIVER NATURAL AREA

6500 ALDEN HWY
BELLAIRE,MI49615 		NONE   CAPITAL CAMPAIGN: BOARDWALK CONSTRUCTION 50,000

GREAT LAKES CHILDREN'S MUSEUM

13240 S W BAY SHORE DRIVE
TRAVERSE CITY,MI49684 		NONE   PURCHASE EXHIBIT TABLES AND CHAIRS 5,000

GROUNDWORKS CENTER

148 E FRONT ST 301
TRAVERSE CITY,MI49684 		NONE   TEACHING KITCHEN TECHNOLOGY UPGRADES 10,000

HABITAT FOR HUMANITY GRAND TRAVERSE REGION

2487 RICE ST
TRAVERSE CITY,MI49684 		NONE   CONSTRUCT HOMES IN NEW WAVES COMMUNITY 25,000

HEALTH DEPARTMENT OF NORTHWEST MICHIGAN

220 W GARFIELD AVE
CHARLEVOIX,MI49720 		NONE   YOUTH SUBSTANCE USE PREVENTION PROGRAM 10,000

INLAND SEAS EDUCATION CENTER

100 DAME ST
SUTTONS BAY,MI49682 		NONE   INLAND SEAS SHIP REPAIRS 10,000

INTERLOCHEN CENTER FOR THE ARTS

4000 J MADDY PKWY
INTERLOCHEN,MI49643 		NONE   WINTERLOCHEN 2026 5,000

JOPPA HOUSE

800 STATE ST
CHARLEVOIX,MI49720 		NONE   DIRECTORS FUND 1,000

KEYS TO FREEDOM MINISTRIES

PO BOX 4418
TRAVERSE CITY,MI49684 		NONE   DIRECTORS FUND 1,000

LEELANAU CHRISTIAN NEIGHBORS

7322 DUCK LAKE RD
LAKE LEELANAU,MI49653 		NONE   OPERATING SUPPORT 10,000

LEELANAU CONSERVANCY

105 N FIRST ST
LELAND,MI49654 		NONE   SUTTONS BAY FOREST 50,000

LITTLE TRAVERSE BAY HUMANE SOCIETY

9582 13000 W CONWAY ROAD
HARBOR SPRINGS,MI49740 		NONE   TRAP, NEUTER, RELEASE PROGRAM FOR CATS AND ANIMAL CARE 20,000

LONG LAKE ASSOCIATION

PO BOX 257
INTERLOCHEN,MI49643 		NONE   WATER QUALITY MONITORING 2,500

LONG LAKE TOWNSHIP

8870 NORTH LONG LAKE RD
TRAVERSE CITY,MI49685 		NONE   TWIN LAKES DORM BATHROOM RENOVATIONS 25,000

MACKINAC STRAITS RAPTOR WATCH

PO BOX 465
PETOSKEY,MI49770 		NONE   FALL RAPTOR NATURALIST 4,500

MANA FOOD PROJECT

8791 MCBRIDE PARK DR
HARBOR SPRINGS,MI49740 		NONE   FOOD DISTRIBUTION PROGRAM AND DIRECTOR'S FUND 11,000

MASHUP ROCK AND ROLL MUSICAL

1728 S GARFIELD AVE
TRAVERSE CITY,MI49696 		NONE   NEW THEATER SPACE 5,000

NATIONAL ALLIANCE ON MENTAL ILLNESS - GRAND TRAVERSE

1010 S GARFIELD AVE
TRAVERSE CITY,MI49686 		NONE   OFFICE FURNITURE AND UPDATES 10,000

NORTE

PO BOX 781
TRAVERSE CITY,MI49685 		NONE   BICYCLE PUMP TRACK AND DIRECTOR'S FUND 42,500

NORTH CENTRAL MICHIGAN COLLEGE FOUNDATION

1515 HOWARD ST
PETOSKEY,MI49770 		NONE   MANNEQUINS FOR DENTAL HYGIENE SCHOOL 20,000

NORTHMEN DEN

422 E MITCHELL ST STE 4
PETOSKEY,MI49770 		NONE   FOOD FOR FAMILIES IN NEED 10,000

NORTHWEST MICHIGAN ARTS AND CULTURE NETWORK

414 E EIGHT ST
TRAVERSE CITY,MI49686 		NONE   PURCHASE OFFICE FURNISHINGS 2,000

NORTHWEST MICHIGAN COMMUNITY ACTION AGENCY

3963 3 MILE RD N
TRAVERSE CITY,MI49686 		NONE   MEALS ON WHEELS 10,000

NORTHWEST MICHIGAN SUPPORTIVE HOUSING

250 E FRONT ST 320
TRAVERSE CITY,MI49684 		NONE   SUPPORTIVE HOUSING OPERATIONS AND PROGRAMMING 20,000

NORTHWESTERN MICHIGAN COLLEGE FOUNDATION

1710 EAST FRONT STREET
TRAVERSE CITY,MI49686 		NONE   AUDIO TECH BUILDING AND OLESON CENTER UPGRADES 30,000

NW MI FOOD COALITION

3963 N THREE MILE RD
TRAVERSE CITY,MI49686 		NONE   FOOD FOR FAMILIES IN NEED 75,000

OLD TOWN PLAYHOUSE

148 E EIGHTH ST
TRAVERSE CITY,MI49684 		NONE   PURCHASE NEW MICROPHONES 10,000

PARAKLESIS INC

2570 HOOSIER VALLEY RD
TRAVERSE CITY,MI49685 		NONE   EQUINE THERAPY PROGRAM FOR PARENTS AND GRANDPARENTS OF TRAUMATIZED YOUTH 5,000

PETOSKEY HARBOR SPRINGS AREA COMMUNITY FOUNDATION

616 PETOSKEY ST STE 203
PETOSKEY,MI49770 		NONE   ICE STORM SUPPORT 5,000

PRESERVE HISTORIC SLEEPING BEAR

3164 W HARBOR HWY
MAPLE CITY,MI49664 		NONE   DIRECTORS FUND 1,000

PROJECT FEED THE KIDS

1081 W SOUTH AIRPORT RD
TRAVERSE CITY,MI49686 		NONE   TRUCK REFRIGERATION SYSTEM FOR FOOD TRANSPORT AND DIRECTOR'S FUND 11,500

RAVEN HILL DISCOVERY CENTER

4737 FULLER RD
EAST JORDAN,MI49727 		NONE   WAYFINDING AND INTERPRETIVE SIGNAGE 7,000

SAFE HARBOR OF GRAND TRAVERSE

517 WELLINGTON ST
TRAVERSE CITY,MI49686 		NONE   DIRECTORS FUND 5,000

SALVATION ARMY EMMET COUNTY

712 PLEASANT STREET
PETOSKEY,MI49770 		NONE   EMERGENCY ASSISTANCE AND SUPPORT FOR FAMILIES IN NEED 30,000

SEEDS

223 LAKE AVE SUITE B
TRAVERSE CITY,MI49686 		NONE   ECOCORPS TRAINING PROGRAM 15,000

SINGLE MOMM

3210 RACQUET CLUB DR
TRAVERSE CITY,MI49684 		NONE   MENTORSHIP GARDEN AT NEW LOCATION AND DIRECTOR'S FUND 23,500

ST FRANCIS CATHOLIC CHURCH

1025 S UNION ST
TRAVERSE CITY,MI49684 		NONE   DIRECTORS FUND 2,000

ST PATRICK CATHOLIC CHURCH

630 S WEST SILVER LAKE RD
TRAVERSE CITY,MI49685 		NONE   DIRECTOR'S FUND 2,000

STEP UP NORTHERN MICHIGAN

3159 OGIDAKI TRAIL
TRAVERSE CITY,MI49686 		NONE   DIRECTORS FUND 5,000

TART TRAILS

148 E FRONT ST 201
TRAVERSE CITY,MI49684 		NONE   THREE MILE TRAIL AND DIRECTOR'S FUND 77,000

TC PAW CAT RESCUE

801 S GARFIELD AVE UNIT 100007
TRAVERSE CITY,MI49686 		NONE   CAT VETERINARY EXPENSES 10,000

THE FESTIVAL FOUNDATION

250 E FRONT ST
TRAVERSE CITY,MI49684 		NONE   IN-KIND RENTAL 36,040

THE ROCK OF KINGSLEY

115 E BLAIR STREET
KINGSLEY,MI49649 		NONE   TECHNOLOGY FOR YOUTH PROGRAMS 30,000

THE SALVATION ARMY - TRAVERSE CITY

1239 BARLOW ST
TRAVERSE CITY,MI49686 		NONE   EMERGENCY RENTAL ASSISTANCE AND SUPPORT FOR PEOPLE IN NEED 25,000

THE WATERSHED CENTER

13272 S W BAY SHORE DR
TRAVERSE CITY,MI49684 		NONE   BAY SHORELINE MAPPING AND SURVEYING 34,000

TRAVERSE BAY CHILDREN'S ADVOCACY CENTER

2000 CHARTWELL DR STE 3
TRAVERSE CITY,MI49696 		NONE   WORK WITH CHILDREN WHO ARE VICTIMS OF ASSAULT AND GENERAL SUPPORT 76,000

TRAVERSE HEALTH CLINIC

3155 LOGAN VALLEY ROAD
TRAVERSE CITY,MI49684 		NONE   DIRECTORS FUND 1,000

TRAVERSE SYMPHONY ORCHESTRA

300 E FRONT ST 230
TRAVERSE CITY,MI49684 		NONE   AUDIENCE CHAIRS FOR NEW THEATER 25,000

WOMEN'S RESOURCE CENTER OF N MICHIGAN

423 PORTER STREET
PETOSKEY,MI49770 		NONE   CHILD CARE SUPPORT AND DIRECTOR'S FUND 17,000

WOMEN'S RESOURCE CENTER

720 S ELMWOOD STE 2
TRAVERSE CITY,MI49684 		NONE   HELEN'S HOUSE STAFF SUPPORT AND DIRECTOR'S FUND 27,000

ZONTA CLUB OF TRAVERSE CITY

PO BOX 1412
TRAVERSE CITY,MI49685 		NONE   IN-KIND RENTAL 34,171
Total ................................. 3a 1,582,361
bApproved for future payment
Total ................................. 3b 0
Form 990-PF (2025)
Form 990-PF (2025)
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 ........... 		    14 817  
4 Dividends and interest from securities ....     14 560,919  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....     16 523,825  
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 446,022  
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 1,531,583 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,531,583
(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 (2025)
Form 990-PF (2025)
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.
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only 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 (2025)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2025 AccountingFeesSchedule
Name:
OLESON FOUNDATION
EIN:
38-6083080
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 24,625 24,625   0

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TY 2025 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 2,388,921 SL 0 % 82,623 82,623    
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    
GOLDEN FOWLER ROOF W/ ASSET #1 2024-05-30 50,442   SL 0 % 0 0    
LAND 2025-01-01 456,750   L   0 0    

TY 2025 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 2,471,544 868,557  
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  
LAND 456,750 0 456,750  

TY 2025 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 173,327 258,593
ISHARES CORE UNIVERSAL AT COST 1,077,326 966,657
VANGUARD TOTAL INTL STOCK AT COST 887,878 1,203,189
VANGUARD TOTAL STOCK MKT AT COST 1,636,179 2,998,322
BLACKSTONE REAL ESTATE AT COST 198,805 213,074
AVANTIS EMERGING MARKETS AT COST 270,735 385,485
ISHARES CORE US AT COST 997,088 898,820
ISHARES MSCI EAF MIN VOL AT COST 308,762 351,469
ISHARES MSCI INTL VALUE AT COST 291,781 452,415
ISHARES MSCI USA AT COST 191,064 217,863
ISHARES MSCI USA MIN VOL AT COST 717,148 925,405
ISHARES MSCI USA MOMNTUM AT COST 535,542 1,051,302
ISHARES MSCI USA QLTY AT COST 454,642 881,674
ISHARES MSCI USA VALUE AT COST 579,710 944,394
ISHS MSCI INTL MOMETUM AT COST 249,410 381,026
ISHS MSCI INTL QUALITY AT COST 258,410 362,827
SCHWAB EMERGING MARKETS AT COST 286,934 286,235
SCHWAB INTERNATIONAL AT COST 1,303,884 1,616,017
SCHWAB US LARGE CAP ETF AT COST 2,111,592 3,324,192
SCHWAB US SMALL CAP ETF AT COST 383,278 418,770
VANGUARD SHORT-TERM BOND AT COST 1,746,341 1,705,921
VANGUARD TOTAL INTERNATL AT COST 638,814 540,991
FIDELITY TOTAL MARKET INDEX FUND AT COST 554,056 1,293,378
AMERICAN EUROPACIFIC GROWTH FUND AT COST 316,298 366,298
THE GROWTH FUND OF AMERICA AT COST 93,281 216,839
INTERNATIONAL GROWTH AND INCOME FUND AT COST 174,650 262,233
PERMANENT PORTFOLIO AT COST 112,242 235,319
FIDELITY INVESTMENT GRADE AT COST 150,000 147,976
DOUBLELINE CORE FIXED INCOME AT COST 486,091 455,006
PIMCO LOW DURATION INCOME AT COST 123,107 123,255
FIDELITY GOVERNMENT CASH RESERVES AT COST 111,628 111,628
VANECK ETF TRUST MRNGSTR WDE MOAT AT COST 315,017 444,065
VANGUARD SMALL CAP INDEX FUND AT COST 92,660 185,982
ISHARES TR CORE TOTAL AT COST 244,457 209,430

TY 2025 LegalFeesSchedule
Name:
OLESON FOUNDATION
EIN:
38-6083080
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 956 0   956


TY 2025 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 2025 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 445 223   222
INSURANCE 2,979 1,489   1,490
MISCELLANEOUS 17,480 8,740   8,740
INSURANCE, REPAIRS,CLEANING, UTILITIES AND MISCELLANEOUS 108,168 108,168   0


TY 2025 OtherProfessionalFeesSchedule
Name:
OLESON FOUNDATION
EIN:
38-6083080
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TRUST & INVESTMENT FEES-IWM 14,405 14,405   0
TRUST & INVESTMENT FEES-IPEX/SCHWAB 24,391 24,391   0
TRUST & INVESTMENT FEES-MERCER 57,864 57,864   0
REAL ESTATE MANAGEMENT FEES 68,721 68,721   0
PROFESSIONAL SERVICES 4,500 4,500   0


TY 2025 TaxesSchedule
Name:
OLESON FOUNDATION
EIN:
38-6083080
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL EXCISE TAX 11,675 0   0
PAYROLL TAXES 4,714 1,179   3,535
REAL ESTATE TAXES 141,391 141,391   0