Olseth Foundation
- Assets
- $19.4m
- Revenue
- -$292.4k
- Investments
- $18.3m
- Employees
- 0
- Location
- Minnetonka, MN
- Founding
- 08/1998
- Data as of
- 12/2022
- EIN
- 41-1875950
Organization Overview
Olseth Foundation is located in Minnetonka, MN. The organization was established in 1998. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Olseth Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2020, Olseth Foundation has awarded 164 individual grants totaling $2,925,703. 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
SEE STATEMENT 10
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen L Solomon Treasurer | 20 | $100,776 | |
Jon P Olseth Vice-President/secretary | 20 | $100,776 | |
Cheryl A Olseth President | 20 | $100,776 | |
Margaret Cronin Administrative Officer | 3.6 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rbc Capital Markets Llc | 12/30/22 | $163,650 |
Bridgeview Legal Advisors | 12/30/22 | $71,760 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $46,127 |
| Dividends & Interest | $439,736 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$778,248 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | -$292,385 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $302,328 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $37,353 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $14,419 |
| Printing and publications | $0 |
| Other expenses | $187,232 |
| Total operating and administrative expenses | $630,092 |
| Contributions, gifts, grants paid | $916,703 |
| Total expenses and disbursements | $1,546,795 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,111,412 |
| 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 | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $4,772,556 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $19,429,822 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Olseth Foundation has awarded $916,703 in support to 47 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN CIVIL LIBERTIES FOUNDATION OF OREGON INC PURPOSE: OPERATING | $5,000 |
ADVOCATES FOR HUMAN RIGHTS PURPOSE: OPERATING | $42,500 |
CHILDREN'S MUSEUM OF SOUTHERN MINNESOTA PURPOSE: OPERATING | $10,000 |
CLIMATE GENERATION A WILL STEGER LEGACY PURPOSE: OPERATING | $10,000 |
COMMITTEE AGAINST DOMESTIC ABUSE INC (CADA) PURPOSE: OPERATING | $10,000 |
COUNCIL OF CONTRIBUTORS INC PURPOSE: OPERATING | $5,000 |