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
THE OLSETH FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address) 601 CARLSON PARKWAY SUITE 1050
  Room/suite
City or town
MINNETONKA
State or province
MN
Country  
ZIP or foreign postal code
55305
A Employer identification number

41-1875950
B Telephone number (see instructions)

6122673287
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)$30,570,166J 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 79,486 60,661  
4 Dividends and interest from securities... 640,826 673,129  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,278,266
b Gross sales price for all assets on line 6a 6,219,692
7 Capital gain net income (from Part IV, line 2)... 1,269,795
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........ 1,998,578 2,003,585  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 333,570 0   333,570
14 Other employee salaries and wages......        
15 Pension plans, employee benefits....... 103,401 0   103,401
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
15,746 0   15,746
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
255,444 171,309   84,135
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
13,390 13,336   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 21,341 0   21,341
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
1,688 0   1,688
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 744,580 184,645   559,881
25 Contributions, gifts, grants paid....... 926,738 926,738
26 Total expenses and disbursements. Add lines 24 and 25 ................ 1,671,318 184,645   1,486,619
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 327,260
b Net investment income (if negative, enter -0-) 1,818,940
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.............      
2 Savings and temporary cash investments......... 1,670,772 1,058,154 1,058,154
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) 0 Click to see attachment
List of Attached Documents:
// Content
1,078,031 		1,097,711
b Investments—corporate stock (attach schedule)....... 5,552,883 Click to see attachment
List of Attached Documents:
// Content
5,446,692 		13,016,036
c Investments—corporate bonds (attach schedule)....... 3,763,908 Click to see attachment
List of Attached Documents:
// Content
2,854,368 		2,827,381
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 7,513,492 Click to see attachment
List of Attached Documents:
// Content
8,391,047 		12,570,884
14 Land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
15 Other assets (describe )      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 18,501,055 18,828,292 30,570,166
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe )    
23 Total liabilities (add lines 17 through 22)......... 0 0
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 18,501,055 18,828,292
29 Total net assets or fund balances (see instructions)..... 18,501,055 18,828,292
30 Total liabilities and net assets/fund balances (see instructions). 18,501,055 18,828,292
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
18,501,055
2
Enter amount from Part I, line 27a .....................
2
327,260
3
Other increases not included in line 2 (itemize)
3
0
4
Add lines 1, 2, and 3 ..........................
4
18,828,315
5
Decreases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
5
23
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
18,828,292
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 RBC FINANCIAL - CAPITAL GAIN DISTRIBUTION P    
b PUBLICLY TRADED SECURITIES P    
c
d
e
(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 646,346     646,346
b 5,573,346   4,949,897 623,449
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       646,346
b       623,449
c
d
e
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 1,269,795
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 25,283
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 25,283
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 25,283
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 14,833
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 14,833
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 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed....... 9 10,450
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)
MN, OR
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 addressHTTP://WWW.OLSETHFAMILYFOUNDATION.ORG/
14
The books are in care ofKAREN SOLOMON Telephone no. (612) 802-9751

Located at601 CARLSON PARKWAY SUITE 1050MINNETONKAMN ZIP+455305
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)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
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)
Yes
 
(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
 
No
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
KAREN L SOLOMON TREASURER
20.00 		111,190 27,224 0
601 CARLSON PARKWAY SUITE 1050
MINNETONKA,MN55305
JON P OLSETH VICE-PRESIDENT/SECRETARY
20.00 		111,190 27,224 0
601 CARLSON PARKWAY SUITE 1050
MINNETONKA,MN55305
CHERYL A OLSETH PRESIDENT
20.00 		111,190 27,224 0
601 CARLSON PARKWAY SUITE 1050
MINNETONKA,MN55305
MARGARET CRONIN ADMINISTRATIVE OFFICER
3.60 		0 0 0
601 CARLSON PARKWAY SUITE 1050
MINNETONKA,MN55305
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
RBC CAPITAL MARKETS LLC WEALTH MANAGEMENT AND ADVISORY SERVICES 171,308
PO BOX 1510
MINNEAPOLIS,MN55440
BRIDGEVIEW LEGAL ADVISORS ADVISORY SERVICES 82,260
601 CARLSON PARKWAY SUITE 1050
MINNETONKA,MN55305
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 SEE STATEMENT 104,512
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1 NONE 0
2  
All other program-related investments. See instructions.
3 Click to see attachment
List of Attached Documents:
// Content
0
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
27,871,963
b
Average of monthly cash balances.......................
1b
1,089,846
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
28,961,809
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
28,961,809
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
434,427
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
28,527,382
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
1,426,369
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
1,426,369
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
25,283
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
25,283
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,401,086
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
1,401,086
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
1,401,086
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
1,486,619
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
1,486,619
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 1,401,086
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...... 3,395
b From 2021...... 1,490
c From 2022...... 52,319
d From 2023...... 124,525
e From 2024...... 75,431
f Total of lines 3a through e ........ 257,160
4Qualifying distributions for 2025 from Part
XI, line 4: $ 1,486,619
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..... 1,401,086
e Remaining amount distributed out of corpus 85,533
5 Excess distributions carryover applied to 2025. 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 5 342,693
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) ... 		3,395
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		339,298
10 Analysis of line 9:
a Excess from 2021 .... 1,490
b Excess from 2022 .... 52,319
c Excess from 2023 .... 124,525
d Excess from 2024 .... 75,431
e Excess from 2025 .... 85,533
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).)
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 email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (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

AMERICAN CIVIL LIBERTIES FOUNDATION OF OREGON INC

PO BOX 40585
PORTLAND,OR97240 		    OPERATING 3,000

CENTRAL LAKES COLLEGE FOUNDATION

501 WEST COLLEGE DRIVE
BRAINERD,MN56401 		    VERSE LIKE WATER FUND 5,000

CHILDREN'S MUSEUM OF SOUTHERN MINNESOTA

224 LAMM ST
MANKATO,MN56001 		    OPERATING 5,000

CLEAN RIVER PARTNERS

205 WATER STREET SOUTH SUITE 1
NORTHFIELD,MN55057 		    OPERATING 5,000

COMMITTEE AGAINST DOMESTIC ABUSE INC (CADA)

PO BOX 466
MANKATO,MN56002 		    OPERATING 10,000

COMMUNITY WAREHOUSE

3969 NE MARTIN LUTHER KING JR BLVD
PORTLAND,OR97212 		    OPERATING 10,000

EMERGENCY COMMUNITY HELP ORGANIZATION (ECHO)

PO BOX 3212 1014 SOUTH FRONT STREET
MANKATO,MN56002 		    OPERATING 5,000

FEEDING OUR COMMUNITIES PARTNERS

PO BOX 5275
MANKATO,MN56002 		    BACKPACK FOOD PROGRAM 10,000

FORT LEWIS COLLEGE FOUNDATION

1000 RIM DRIVE
DURANGO,CO81301 		    OPERATING 10,000

FREE GEEK

1731 SE 10TH AVE
PORTLAND,OR97214 		    OPERATING 2,000

FRESH ENERGY

408 SAINT PETER STREET SUITE 220
ST PAUL,MN55102 		    OPERATING 10,000

FRIENDS OF SATURDAY ACADEMY

5000 N WILLAMETTE BLVD
PORTLAND,OR97203 		    DAYS OFF PROGRAM SUPPORT 5,000

FRIENDS OF THE HENNEPIN COUNTY LIBRARY

300 NICOLLET MALL SUITE N-290
MINNEAPOLIS,MN55401 		    LET'S READ AND HOMEWORK HELP PROGRAMS ($22,000) 22,000

GIVING VOICE INITIATIVE

7801 EAST BUSH LAKE ROAD 120
BLOOMINGTON,MN55439 		    OPERATING 7,500

GREATER MANKATO AREA UNITED WAY INC

127 S 2ND STREET SUITE 190
MANKATO,MN56001 		    4TH GRADE BOOK PROJECT ($24,000), KINDNESS BOOTH PROJECT ($2,500), GENERAL OPERATION ($20,000) 46,500

GREATER MANKATO GROWTH

3 CIVIC CENTER PLAZA SUITE 100
MANKATO,MN56001 		    CEO MENTOR PROGRAM ($5,000)/GROWTH PLEDGE ($3,000) 8,000

JUNGLE THEATER

2951 LYNDALE AVE S
MINNEAPOLIS,MN55408 		    OPERATING 25,000

KLAMATH-SISKIYOU WILDLANDS CENTER (KS WILD)

PO BOX 102
ASHLAND,OR97520 		    OPERATING 5,000

LIVING EARTH CENTER

1603 N RIVERFRONT DR
MANKATO,MN56001 		    OPERATING 5,000

MANKATO AREA FOUNDATION

212 E WALNUT STREET
MANKATO,MN56001 		    COMMUNITY IMPACT FUND($20,000); RECHARGE MANKATO FUND ($8,000) 28,000

MANKATO YOUTH PLACE INC (MY PLACE)

709 S BROAD ST
MANKATO,MN56001 		    OPERATING 10,000

MEALS ON WHEELS PEOPLE INC

7710 SW 31ST AVENUE
PORTLAND,OR97219 		    OPERATING 20,000

MINNEAPOLIS AMERICAN INDIAN CENTER

1530 EAST FRANKLIN AVENUE
MINNEAPOLIS,MN55404 		    OPERATING 20,000

MINNESOTA ENGAGEMENT ON SHELTER & HOUSING

740 EAST 17TH ST
MINNEAPOLIS,MN55404 		    DIRECTOR'S COUNCIL/WHITE EARTH PROJECT 15,000

MINNESOTA STATE UNIVERSITY MANKATO FOUNDATION INCORPORATED

224 ALUMNI FOUNDATION CENTER
MANKATO,MN56001 		    STUDENT SCHOLARSHIPS ($1,000); AUTOMOTIVE TECHNOLOGY ($5,000); THEATRE ($2,500) 8,500

MULTNOMAH ARTS CENTER ASSOCIATION

7688 SW CAPITOL HWY
PORTLAND,OR97219 		    ARTS IN THE PARKS 7,500

NATIONAL ALLIANCE ON MENTAL ILLNESS

01 WILSON BLVD SUITE 3000
ARLINGTON,VA22203 		    OPERATING 7,500

NEIGHBORHOOD HOUSE INC

7780 SW CAPITOL HWY
PORTLAND,OR97219 		    OPERATING 5,000

OFF THE BLUE COUCH

3119 IRVING AVENUE NORTH
MINNEAPOLIS,MN55411 		    OPERATING 2,500

OREGON FOOD BANK INC

7900 NE 33RD DRIVE
PORTLAND,OR97211 		    OPERATING 20,000

OREGON NATURAL RESOURCES COUNCIL FUND (OREGON WILD)

5825 N GREELEY AVE
PORTLAND,OR97217 		    OPERATING 35,000

OREGON PUBLIC BROADCASTING

7140 SW MACADAM AVENUE
PORTLAND,OR97219 		    OPERATING - SCIENCE AND ENVIRONMENT 10,000

OREGON WILDLIFE FOUNDATION

2337 NW YORK ST 201C
PORTLAND,OR97210 		    WANAKET WILDLIFE CROSSING PROJECT 20,000

PEAR

338 NW 6TH AVE
PORTLAND,OR97209 		    OPERATING 15,000

PATH HOME (FORMERLY PHFS)

6220 SE 92ND AVE
PORTLAND,OR97266 		    GENERAL OPERATING ($10,000); PREVENTION PROGRAM ($20,000) 30,000

PEOPLE SERVING PEOPLE INC

614 3RD STREET S
MINNEAPOLIS,MN55415 		    OPERATING 20,000

PLANNED PARENTHOOD COLUMBIA WILLAMETTE

3727 NE MARTIN LUTHER KING JR BLVD
PORTLAND,OR97212 		    OPERATING 15,000

PLANNED PARENTHOOD NORTH CENTRAL STATES

671 VANDALIA ST
ST PAUL,MN55114 		    METRO TEEN COUNCIL 20,000

PLAYWRIGHTS' CENTER

2301 EAST FRANKLIN AVENUE
MINNEAPOLIS,MN55406 		    CAMPAIGN FOR ALL NARRATIVES 10,000

RECHARGE AMERICA INC

88 DOMINGA AVE
FAIRFAX,CA94930 		    AMERICA, MINNESOTA, MANKATO 90,000

RIVERLAND COMMUNITY COLLEGE FOUNDATION

1900 EIGHTH AVENUE NORTHWEST
AUSTIN,MN55912 		    SCHOLARSHIPS ($1,000); THEATER ($2,500) 3,500

SECOND HARVEST HEARTLAND

7101 WINNETKA AVE NORTH
BROOKLYN PARK,MN55428 		    OPERATING 7,500

ST OLAF COLLEGE

1520 ST OLAF AVENUE
NORTHFIELD,MN55067 		    SCHOLARSHIP FUND 60,000

STEGER CENTER FOR INNOVATION & LEADERSHIP

2008 PORTLAND AVENUE
ST PAUL,MN55104 		    OPERATING 15,000

THE ADVOCATES FOR HUMAN RIGHTS

330 SECOND AVENUE SOUTH SUITE 800
MINNEAPOLIS,MN55401 		    UN TRAINING COSTS ($3,000), OPERATIONS ($37,500), ACT NOW CAMPAIGN ($12,500) 53,000

THE HISTORY THEATRE INC

30 E 10TH ST
ST PAUL,MN55101 		    OPERATING 7,500

THE LIBRARY FOUNDATION INC

620 SW FIFTH AVENUE SUITE 1025
PORTLAND,OR97204 		    SUMMER READING AND EARLY LEARNING PLAYSPACES 30,000

UNIVERSITY OF MINNESOTA FOUNDATION

200 OAK STREET SE
MINNEAPOLIS,MN55455 		    RAPTOR CENTER FUND 10,000

UNIVERSITY OF WISCONSIN

1848 UNIVERSITY AVENUE
MADISON,WI53726 		    NELSON INSTITUTE, ACADEMIC PROGRAM OFFICE AND CARNIVORE COEXISTENCE LAB 15,000

WOMEN'S ADVOCATES

PO BOX 4039
ST PAUL,MN55104 		    BREAK THE CYCLE ($2,500), OPERATING ($750) 3,250

WORLD WILDLIFE FUND INC (WWF)

1250 24TH ST NW
WASHINGTON,DC20037 		    OPERATING ($100,000) 100,000
JESSICA MEHTA


1181 NW JACKSON STREET
HILLSBORO,OR97124 		NONE   LODGING, REGISTRATION FEE, AND MEALS FOR WRITING RESIDENCY 2,500
LOGAN GARNER


1475 SE 12TH PL
WARRENTON,OR97146 		NONE   LODGING, REGISTRATION FEE, AND MEALS FOR WRITING RESIDENCY 2,500
DANIEL DIETZ


2711 MALIBU WAY
EUGENE,OR97405 		NONE   LODGING, REGISTRATION FEE, AND MEALS FOR WRITING RESIDENCY 2,458
HOLLY HISAMOTO


7020 NORTHEAST STANTON STREET
PORTLAND,OR97213 		NONE   LODGING, REGISTRATION FEE, AND MEALS FOR WRITING RESIDENCY 1,620
MELODY ERFANI


6915 SE 22ND AVE
PORTLAND,OR97202 		NONE   LODGING, REGISTRATION FEE, AND MEALS FOR WRITING RESIDENCY 2,500
TESS KELLY


5324 NE AINSWORTH STREET
PORTLAND,OR97218 		NONE   LODGING, REGISTRATION FEE, AND MEALS FOR WRITING RESIDENCY 2,410
Total ................................. 3a 926,738
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 79,486  
4 Dividends and interest from securities ....     14 640,826  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 1,278,266  
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 1,998,578 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,998,578
(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:
THE OLSETH FOUNDATION
EIN:
41-1875950
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 15,746 0   15,746

TY 2025 AllOthProgRltdInvestmentsSch
Name:
THE OLSETH FOUNDATION
EIN:
41-1875950
Category Amount
NONE 0

TY 2025 GeneralExplanationAttachment
Name:
THE OLSETH FOUNDATION
EIN:
41-1875950
Identifier Return Reference Explanation
SUMMARY OF DIRECT CHARITABLE ACTIVITY FORM 990-PF, PART IX-A, LINE 1 THE OLSETH FOUNDATION CONTINUED TO ENGAGE IN SEVERAL DIRECT CHARITABLE ACTIVITIES DURING THE YEAR 2025. IN 2025, THE FOUNDATION CONTINUED ITS WORK IN THE ENVIRONMENTAL AREA TO ADVANCE ITS INITIATIVE OF CARBON REDUCTION AND CLEAN ENERGY. LED BY BOARD MEMBER/OFFICER JON OLSETH, THE FOUNDATION HAS BEEN ACTIVELY ENGAGED WITH THE WORK OF RECHARGE AMERICA (HTTPS://WWW.RECHARGE-MINNESOTA.ORG) SINCE ITS INCEPTION. THE MISSION OF RECHARGE AMERICA IS TO ACCELERATE THE ADOPTION OF ELECTRIC VEHICLES (EV) AND SUPPORT EXPANDED INFRASTRUCTURE DEVELOPMENT THROUGH THE UTILIZATION OF HIGH-IMPACT COMMUNITY ENGAGEMENT. IN 2018, MINNESOTA STATE UNIVERSITY HOSTED THE FIRST ANNUAL RECHARGE RIDE & DRIVE EVENT IN MANKATO, MINNESOTA, GATHERING SUPPORT FOR EV ADOPTION FROM A WIDE VARIETY OF COMMUNITY STAKEHOLDERS. RECHARGE MINNESOTA, A BRANCH OF RECHARGE AMERICA THAT IS FOCUSED ON EV ADOPTION IN THE STATE OF MINNESOTA, HAS CONTINUED TO BUILD MOMENTUM AND EXPAND EACH YEAR WITH THE FOUNDATION'S ACTIVE SUPPORT. IN 2025, RECHARGE MINNESOTA SPONSORED NUMEROUS LOCAL COMMUNITY AND INDUSTRY EVENTS WITH THE GOAL OF INTRODUCING COMMUNITIES AND BUSINESSES TO THE ECONOMIC AND ENVIRONMENTAL BENEFITS OF EVS. FOR EXAMPLE, RECHARGE MINNESOTA ORGANIZED A MINNESOTA ENERGY INNOVATION SUMMIT AT THE UNIVERSITY OF MINNESOTA, PROVIDING ATTENDEES WITH A DAY OF CUTTING-EDGE TECHNOLOGY, INSIGHTFUL PRESENTATIONS, AND INVALUABLE NETWORKING OPPORTUNITIES WITH THE LEADERS DRIVING MINNESOTA'S ENERGY AND ELECTRIFICATION FUTURE. RECHARGE MINNESOTA ALSO HOSTED THE 2025 ENVIRONMENTAL INITIATIVE AWARDS, AN ANNUAL RECOGNITION PROGRAM THAT CELEBRATES PEOPLE AND PROJECTS WORKING IN PARTNERSHIP AT THE NEXUS OF A HEALTHY ENVIRONMENT, A PROSPEROUS ECONOMY, AND AN EQUITABLE SOCIETY. IN 2025, THE RECHARGE AMERICA/RECHARGE MINNESOTA TEAM CONTINUED TO DEVELOP PLANS FOR REGIONAL RECOGNITION PROGRAMS ACKNOWLEDGING THE WORK OF LOCAL GOVERNMENT, LOCAL BUSINESSES, AND COMMUNITY PARTNERS IN FOSTERING EV ADOPTION. BOARD MEMBER/OFFICER CHERYL OLSETH CONTINUED TO LEAD THE FOUNDATION'S INVOLVEMENT IN SUPPORT OF INTERNATIONAL HUMAN RIGHTS. AS A BOARD MEMBER OF THE ADVOCATES FOR HUMAN RIGHTS, SHE HOSTED LOCAL EVENTS TO PROMOTE THE PROGRAMS OF THE ADVOCATES FOR HUMAN RIGHTS. SHE ALSO TRAVELED TO GENEVA, SWITZERLAND WITH A SELECT GROUP OF DELEGATES TO ADVOCATE FOR HUMAN RIGHTS PROTECTIONS AT THE UNITED NATIONS. IN 2025, CHERYL OLSETH ALSO FURTHERED THE FOUNDATION'S ENVIRONMENTAL INITIATIVES BY CONTINUING HER ROLE AS CHAIR OF THE WORLD WILDLIFE FUND (WWF) NORTHERN GREAT PLAINS COMMITTEE. LED BY BOARD MEMBER/OFFICER KAREN SOLOMON, THE FOUNDATION LAUNCHED A NEW WRITING RESIDENCY PROGRAM IN 2025. THIS PROGRAM OFFERS WRITERS THE OPPORTUNITY TO FINISH A MAJOR PROJECT (E.G., NOVEL, SHORT STORY, COLLECTION OF POETRY) OR ATTEND A WRITER'S WORKSHOP IN A PLACE OF THEIR CHOOSING. THE PURPOSE OF THE RESIDENCY IS TO PROVIDE OREGON WRITERS WITH A CHANCE TO ENHANCE THEIR SKILLS AS A WRITER AND/OR FINISH A MAJOR WRITING PROJECT. IN 2025, THE FOUNDATION MADE GRANTS TO SIX INDIVIDUAL WRITERS FOR LODGING, REGISTRATION FEES AT A WRITERS' RETREAT, AND A DAILY STIPEND FOR MEALS.THESE DIRECT CHARITABLE ACTIVITIES FURTHER THE EXEMPT PURPOSES OF THE OLSETH FOUNDATION.
CHARITABLE MISSION OF THE OLSETH FOUNDATION FORM 990-PF THE CHARITABLE MISSION OF THE OLSETH FOUNDATION IS TO WORK TO IMPROVE OUR COMMUNITIES THROUGH SUPPORT OF THE ARTS, EDUCATION, THE ENVIRONMENT, AND THE UNDERSERVED. THE OLSETH FOUNDATION BOARD MEMBERS DEMONSTRATE THEIR COMMITMENT TO THE FOUR PILLARS OF THEIR MISSION THROUGH BOARD SERVICE AND COLLABORATION WITH OTHER CHARITABLE ORGANIZATIONS WHOSE CHARITABLE OBJECTIVES ARE SIMILAR IN FOCUS. BOARD MEMBERS OF THE OLSETH FOUNDATION SERVE AS BOARD MEMBERS OR ADVISORS OF WORLD WILDLIFE FUND (WWF), WWF NORTHERN GREAT PLAINS, THE ADVOCATES FOR HUMAN RIGHTS, AND RECHARGE AMERICA. IN PARTNERSHIP WITH THEIR GRANTEES, THEY DEVELOP CONTENT ON ELECTRIC VEHICLE USE, FOOD INSECURITY, HUMAN RIGHTS, AND RACIAL INJUSTICE. THEY ARE LEADERS IN THE EFFORT TO EXPAND THE ADOPTION OF ELECTRIC VEHICLES IN THE COMMUNITY OF MANKATO, THROUGHOUT THE STATE OF MINNESOTA, AND NATIONALLY. THE OLSETH FOUNDATION CONTINUES TO STREAMLINE ITS CHARITABLE ACTIVITIES AROUND FIVE INITIATIVES THAT ALIGN DIRECTLY WITH ITS MISSION, INCLUDING: SPECIES CONSERVATION, CARBON REDUCTION AND CLEAN ENERGY, ENGENDERING DIGNITY, RESPECT AND EQUALITY, SECURING FOOD AND HOUSING, AND USING ART, CULTURE, LITERATURE, AND EXTRACURRICULAR EXPERIENCES TO BROADEN PERSPECTIVES. PLEASE VISIT WWW.OLSETHFAMILYFOUNDATION.ORG FOR MORE INFORMATION ABOUT THE INITIATIVES, CHARITABLE PARTNERSHIPS AND COLLABORATIONS OF THE OLSETH FOUNDATION.

TY 2025 InvestmentsCorpBondsSchedule
Name:
THE OLSETH FOUNDATION
EIN:
41-1875950
Name of Bond End of Year Book Value End of Year Fair Market Value
DEER PARK TOTAL RETURN CREDIT 761,376 729,207
JP MORGAN STRATEGIC INCOME OPPS 1,362,461 1,358,941
MCDONALDS 111,265 111,395
T MOBILE HYBRID PREFERRED 182,656 191,432
BLACKSTONE PRIVATE CREDIT 49,130 49,125
ORACLE CORP 190,900 190,776
AT&T INC 156,194 156,669
PHILLIPS 66 40,386 39,836

TY 2025 InvestmentsCorpStockSchedule
Name:
THE OLSETH FOUNDATION
EIN:
41-1875950
Name of Stock End of Year Book Value End of Year Fair Market Value
APPLE INC 269,613 3,000,322
BANK OF MONTREAL 110,474 266,238
BERKSHIRE HATHAWAY INC DEL CL B 259,556 1,005,300
BROWN ADVISORY SUSTAINABLE GROWTH FUND INST CLASS 909,938 1,908,643
ECOLAB 110,596 197,833
MEDTRONIC PLC COM 315,502 397,537
MFS SER TR X INTERNATIONAL DIVERSIFICATION FUND CL I 1,568,593 2,613,448
NVENT ELECTRIC PLC ORDINARY SHARES 42,546 255,941
PENTAIR PLC SHS 83,208 261,593
TORO CO 100,157 240,165
TOUCHSTONE MID CAP FUND GROUP TR MID CAP FD Y 476,781 1,046,016
TOUCHSTONE STRATEGIC TR GLOBAL ESG EQUITY FUND CLASS Y 1,104,519 1,636,469
NVIDIA CORP 95,209 186,531

TY 2025 InvestmentsGovtObligationsSch
Name:
THE OLSETH FOUNDATION
EIN:
41-1875950
US Government Securities - End of Year Book Value:

0
US Government Securities - End of Year Fair Market Value:

0
State & Local Government Securities - End of Year Book Value:


1,078,031
State & Local Government Securities - End of Year Fair Market Value:


1,097,711


TY 2025 InvestmentsOtherSchedule2
Name:
THE OLSETH FOUNDATION
EIN:
41-1875950
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
CITIGROUP INC AT COST 100,091 100,091
DWS RREEF REAL ASSETS FUND INST AT COST 807,954 1,045,914
FIRST EAGLE GLOBAL FUND CL I AT COST 1,277,912 1,859,929
PACER US CASH COW 100 ETF AT COST 657,908 910,106
PACER US SMALL CAP CASH COW ETF AT COST 404,545 513,141
THORNBURG INVT TR INVT INCOME BUILDER FD CL I AT COST 1,451,830 2,319,999
VANGUARD INDEX FUNDS HIGH DIVIDEND YIELD ETF AT COST 181,436 219,414
VANGUARD INDEX FUNDS VANGUARD GROWTH ETF AT COST 280,606 1,223,590
VANGUARD INDEX FUNDS VANGUARD MIDCAP ETF AT COST 150,077 366,868
VANGUARD INDEX FUNDS VANGUARD SMALLCAP ETF AT COST 278,327 651,329
VANGUARD SPECIALIZED FUNDS VANGUARD DIVIDEND APPRECIATION ETF AT COST 234,203 667,432
JP MORGAN NASADAQ EQUITY PREMIUM INCOME ETF AT COST 239,262 250,278
PROSHARESS&P HIGH INCOME ETF AT COST 227,542 242,285
GLOBAL X FUNDS INTELLIGENCE & TECHNOLOGY ETF AT COST 193,727 254,584
BLACKROCK ETF FLEXIBLE INCOME AT COST 950,395 955,458
FIDELITY ADVISORS MORTGAGE SECURITIES FUND AT COST 773,465 787,350
THORNBURG INCOME BLDR OPPORTUNITIES TR COM STOCK AT COST 181,767 203,116

TY 2025 OtherDecreasesSchedule
Name:
THE OLSETH FOUNDATION
EIN:
41-1875950
Description Amount
COST BASIS ADJUSTMENT 23


TY 2025 OtherExpensesSchedule
Name:
THE OLSETH FOUNDATION
EIN:
41-1875950
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
DUES & SUBSCRIPTIONS 1,164 0   1,164
EVENT EXPENSE 524 0   524


TY 2025 OtherProfessionalFeesSchedule
Name:
THE OLSETH FOUNDATION
EIN:
41-1875950
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL AND ADVISORY SERVICES 82,260 0   82,260
RBC MANAGEMENT FEES 171,090 171,090   0
RBC INVESTMENT FEES 219 219   0
PROFESSIONAL FEES - WEB 1,875 0   1,875


TY 2025 TaxesSchedule
Name:
THE OLSETH FOUNDATION
EIN:
41-1875950
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAX PAID 1,390 13,336   0
FEDERAL PAYMENTS 12,000 0   0