Oleson Foundation
- Assets
- $24.3m
- Revenue
- $2.3m
- Investments
- $18.2m
- Employees
- 0
- Location
- Traverse City, MI
- Founding
- 07/1962
- Data as of
- 12/2022
- EIN
- 38-6083080
Organization Overview
Oleson Foundation is located in Traverse City, MI. The organization was established in 1962. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oleson Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Oleson Foundation generated $2.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $1.6m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Oleson Foundation has awarded 428 individual grants totaling $5,989,842. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald W Oleson President | 1 | $0 | |
Gerald E Oleson Vice-President | 1 | $0 | |
Richard Ford Secretary | 1 | $0 | |
John Tobin Finance Liasion | 1 | $0 | |
Kathy Huschke Executive Director | 32 | $68,422 | |
Martha Watts Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $4,000 |
| Interest on Savings | $432 |
| Dividends & Interest | $359,665 |
| Net Rental Income | $415,534 |
| Net Gain on Sale of Assets | $1,053,193 |
| Capital Gain Net Income | $1,053,193 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,263,533 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $68,422 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $205,913 |
| Depreciation | $81,591 |
| Occupancy | $3,600 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $143,482 |
| Total operating and administrative expenses | $659,046 |
| Contributions, gifts, grants paid | $978,175 |
| Total expenses and disbursements | $1,637,221 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,541,256 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $4,484,585 |
| Investments—mortgage loans | $0 |
| Investments—other | $18,153,080 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $101,868 |
| Total assets | $24,280,789 |
| Accounts payable and accrued expenses | $1,743 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,743 |
Grants Awarded
Over the last fiscal year, Oleson Foundation has awarded $978,175 in support to 77 organizations.
| Grant Recipient | Amount |
|---|---|
BENZIE LEELANAU DISTRICT HEALTH DEPT PURPOSE: GRANT FOR PURCHASE OF BABY FORMULA | $4,000 |
BIG BROTHERS BIG SISTERS PURPOSE: DIRECTORS FUND BRAD OLSEON | $2,500 |
BRICKWAYS PURPOSE: DIRECTORS FUND DJ OLESON | $1,000 |
CARMELITE MONASTRY PURPOSE: DIRECTORS CHOICE GRANT DON OLESON | $2,000 |
CATHOLIC CHARITIES OF WEST MICHIGAN PURPOSE: GRANT FOR MEALS FOR PARENTING CLASSES | $3,000 |
CHARLEVOIX AREA COMMUNITY POOL PURPOSE: POOL RESURFACING | $10,000 |