2025-05-07T03:37:39-05:00 2024-12-31 861065772 DELOITTE TAX LLP 50 SOUTH SIXTH STREET MINNEAPOLIS MN 55402 990PF 2024-01-01 411875950 THE OLSETH FOUNDATION OLSE 6122673287 601 CARLSON PARKWAY SUITE 1050 MINNETONKA MN 55305 CHERYL OLSETH PRESIDENT 6122673287 2025-05-06 1 0 SARAH REDDEN P00898534 6123974000 2024 2025-03-06 01:10:19Z X 28234829 X X 143524 140487 550780 576932 404854 3618213 376994 1099158 1094413 323853 0 323853 102273 0 102273 14580 0 14580 249503 167089 82414 25982 16018 0 16850 0 16850 5534 0 5534 738575 183107 545504 896500 896500 1635075 183107 1442004 -535917 911306 1324994 1670772 1670772 6012278 5552883 12446512 3197762 3763908 3685618 8501988 7513492 10431927 19037022 18501055 28234829 0 0 X 0 0 0 0 19037022 18501055 19037022 18501055 19037022 18501055 19037022 -535917 0 18501105 50 18501055 RBC FINANCIAL - CAPITAL GAIN DISTRIBUTION P 227285 227285 227285 PUBLICLY TRADED SECURITIES P 3390928 3241219 149709 149709 376994 12667 0 12667 0 12667 15500 0 0 0 15500 X 0 2833 2833 0 0 0 0 0 0 0 0 0 0 0 1 1 MN OR 1 0 0 0 0 1 HTTP://WWW.OLSETHFAMILYFOUNDATION.ORG/ KAREN SOLOMON 6128029751 601 CARLSON PARKWAY SUITE 1050 MINNETONKA MN 55305 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 KAREN L SOLOMON 601 CARLSON PARKWAY SUITE 1050 MINNETONKA MN 55305 TREASURER 20.00 107951 24329 0 JON P OLSETH 601 CARLSON PARKWAY SUITE 1050 MINNETONKA MN 55305 VICE-PRESIDENT/SECRETARY 20.00 107951 24329 0 CHERYL A OLSETH 601 CARLSON PARKWAY SUITE 1050 MINNETONKA MN 55305 PRESIDENT 20.00 107951 24330 0 MARGARET CRONIN 601 CARLSON PARKWAY SUITE 1050 MINNETONKA MN 55305 ADMINISTRATIVE OFFICER 3.60 0 0 0 NONE 0 RBC CAPITAL MARKETS LLC PO BOX 1510 MINNEAPOLIS MN 55440 WEALTH MANAGEMENT AND ADVISORY SERVICES 167089 BRIDGEVIEW LEGAL ADVISORS 601 CARLSON PARKWAY SUITE 1050 MINNETONKA MN 55305 ADVISORY SERVICES 76869 0 SEE STATEMENT 98677 NONE 0 0 0 26619674 1385198 0 28004872 0 0 28004872 420073 27584799 1379240 1379240 12667 12667 1366573 0 1366573 0 1366573 1442004 0 1442004 1366573 0 0 11462 3395 1490 52319 124525 193191 1442004 0 0 0 1366573 75431 0 0 268622 0 0 0 0 0 0 11462 257160 3395 1490 52319 124525 75431 X AMERICAN CIVIL LIBERTIES FOUNDATION OF OREGON INC PO BOX 40585 PORTLAND OR 97240 PC OPERATING 5000 CENTRAL LAKES COLLEGE FOUNDATION 501 WEST COLLEGE DRIVE BRAINERD MN 56401 PC POETRY EVENT CALLED VERSE LIKE WATER 5000 CHILDREN'S MUSEUM OF SOUTHERN MINNESOTA 224 LAMM ST MANKATO MN 56001 PC OPERATING 10000 COMMITTEE AGAINST DOMESTIC ABUSE INC (CADA) PO BOX 466 MANKATO MN 56002 PC OPERATING 15000 EMERGENCY COMMUNITY HELP ORGANIZATION ECHO PO BOX 3212 1014 SOUTH FRONT STREET MANKATO MN 56002 PC OPERATING 5000 FEEDING OUR COMMUNITIES PARTNERS PO BOX 5275 MANKATO MN 56002 PC BACKPACK FOOD PROGRAM 10000 FORT LEWIS COLLEGE FOUNDATION 1000 RIM DRIVE DURANGO CO 81301 PC OPERATING 5000 FREE GEEK 1731 SE 10TH AVE PORTLAND OR 97214 PC OPERATING 5000 FRESH ENERGY 408 SAINT PETER STREET SUITE 220 ST PAUL MN 55102 PC OPERATING 5000 FRIENDS OF SATURDAY ACADEMY 5000 N WILLAMETTE BLVD PORTLAND OR 97203 PC SCHOOL RESIDENCY CLASSES 10000 FRIENDS OF THE HENNEPIN COUNTY LIBRARY 300 NICOLLET MALL SUITE N-290 MINNEAPOLIS MN 55401 PC OPERATING 20000 GIVING VOICE INITIATIVE 7801 EAST BUSH LAKE ROAD 120 BLOOMINGTON MN 55439 PC OPERATING 5000 GREATER MANKATO AREA UNITED WAY INC 127 S 2ND STREET SUITE 190 MANKATO MN 56001 PC OPERATING ($20,000), BOOKS FOR KIDS PROGRAM ($20,500), KINDNESS BOOK PROJECT ($2,500) 43000 JUNGLE THEATER 2951 LYNDALE AVE S MINNEAPOLIS MN 55408 PC OPERATING 25000 KLAMATH-SISKIYOU WILDLANDS CENTER (KS WILD) PO BOX 102 ASHLAND OR 97520 PC OPERATING 5000 LIVING EARTH CENTER 1603 N RIVERFRONT DR MANKATO MN 56001 PC OPERATING 5000 MANKATO AREA FOUNDATION 212 E WALNUT STREET MANKATO MN 56001 PC OPERATING ($15,000); RECHARGE FUND ($5,000) 20000 MEALS ON WHEELS PEOPLE INC 7710 SW 31ST AVENUE PORTLAND OR 97219 PC OPERATING 20000 MINNEAPOLIS AMERICAN INDIAN CENTER 1530 EAST FRANKLIN AVENUE MINNEAPOLIS MN 55404 PC OPERATING 15000 MINNESOTA CENTER FOR ENVIRONMENTAL ADVOCACY 1919 UNIVERSITY AVE W SUITE 515 ST PAUL MN 55104 PC EDUCATE ABOUT CLIMATE CHANGE AND THE BENEFITS OF MOVING AWAY FROM FOSSIL FUELS 15000 MINNESOTA ENGAGEMENT ON SHELTER & HOUSING 740 EAST 17TH ST MINNEAPOLIS MN 55404 PC DIRECTOR'S COUNCIL/WHITE EARTH PROJECT 20000 MINNESOTA STATE UNIVERSITY MANKATO FOUNDATION INCORPORATED 224 ALUMNI FOUNDATION CENTER MANKATO MN 56001 PC STUDENT SCHOLARSHIPS ($1,000); AUTOMOTIVE TECHNOLOGY ($5,000); THEATRE ($2,000) 8000 MULTNOMAH ARTS CENTER ASSOCIATION 7688 SW CAPITOL HWY PORTLAND OR 97219 SO I ART PODS 10000 NEIGHBORHOOD HOUSE INC 7780 SW CAPITOL HWY PORTLAND OR 97219 PC OPERATING 5000 OFF THE BLUE COUCH 3119 IRVING AVENUE NORTH MINNEAPOLIS MN 55411 PC OPERATING 5000 OREGON FOOD BANK INC 7900 NE 33RD DRIVE PORTLAND OR 97211 PC OPERATING 20000 OREGON NATURAL RESOURCES COUNCIL FUND (OREGON WILD) 5825 N GREELEY AVE PORTLAND OR 97217 PC OPERATING 35000 OREGON PUBLIC BROADCASTING 7140 SW MACADAM AVENUE PORTLAND OR 97219 PC OPERATING 10000 OREGON WILDLIFE FOUNDATION 2337 NW YORK ST 201C PORTLAND OR 97210 PC WILDLIFE FEASIBILITY STUDY 25000 PEAR 338 NW 6TH AVE PORTLAND OR 97209 PC OPERATING 15000 PATH HOME (FORMERLY PHFS) 6220 SE 92ND AVE PORTLAND OR 97266 PC GENERAL OPERATING ($10,000); PREVENTION PROGRAM ($20,000); NONPROFIT COLLABORATION PROGRAM ($7,500) 37500 PEOPLE SERVING PEOPLE INC 614 3RD STREET S MINNEAPOLIS MN 55415 PC OPERATING; NONPROFIT COLLABORATION PROGRAM 27500 PLANNED PARENTHOOD COLUMBIA WILLAMETTE 3727 NE MARTIN LUTHER KING JR BLVD PORTLAND OR 97212 PC OPERATING 20000 PLANNED PARENTHOOD NORTH CENTRAL STATES 671 VANDALIA ST ST PAUL MN 55114 PC METRO TEEN COUNCIL 20000 PLAYWRIGHT'S CENTER 2301 EAST FRANKLIN AVENUE MINNEAPOLIS MN 55406 PC OPERATING 15000 RECHARGE AMERICA INC 88 DOMINGA AVE FAIRFAX CA 94930 PC AMERICA/ MINNESOTA/ MANKATO 90000 RIVERLAND COMMUNITY COLLEGE FOUNDATION 1900 EIGHTH AVENUE NORTHWEST AUSTIN MN 55912 PC SCHOLARSHIPS ($1,000); THEATER ($2,000) 3000 ST OLAF COLLEGE 1520 ST OLAF AVENUE NORTHFIELD MN 55057 PC SCHOLARSHIP FUND 60000 STEGER CENTER FOR INNOVATION & LEADERSHIP 2008 PORTLAND AVENUE ST PAUL MN 55104 PC OPERATING 10000 THE ADVOCATES FOR HUMAN RIGHTS 330 SECOND AVENUE SOUTH SUITE 800 MINNEAPOLIS MN 55401 PC WOMEN'S RIGHTS PROGRAM ($25,000); ACT NOW! CAMPAIGN ($12,500) 37500 THE HISTORY THEATRE INC 30 E 10TH ST ST PAUL MN 55101 PC OPERATING 10000 THE LIBRARY FOUNDATION INC SERVING THE PEOPLE OF MULTNOMAH COUNTY 620 SW FIFTH AVENUE SUITE 1025 PORTLAND OR 97204 PC OPERATING 30000 UNIVERSITY OF MINNESOTA FOUNDATION 200 OAK STREET SE MINNEAPOLIS MN 55455 PC RAPTOR CENTER FUND ($5,000); CENTER FOR FOREST ECOLOGY ($5,000) 10000 UNIVERSITY OF WISCONSIN-MADISON 1848 UNIVERSITY AVENUE MADISON WI 53726 PC NELSON INSTITUTE, ACADEMIC PROGRAM OFFICE AND CARNIVORE COEXISTENCE LAB 15000 WORLD WILDLIFE FUND INC (WWF) 1250 24TH ST NW WASHINGTON DC 20037 PC OPERATING ($100,000); NORTHERN GREAT PLAINS CONSERVATION ($10,000) 110000 896500 0 14 143524 14 550780 18 404854 0 1099158 0 1099158 0 0 0 0 0 0 0 0 0 0 ACCOUNTING FEES 14580 0 14580 NONE 0 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 2024.IN 2024, THE FOUNDATION LAUNCHED ITS NEW NONPROFIT COLLABORATION PROGRAM. WHILE MAKING CONNECTIONS WITH NONPROFIT ORGANIZATIONS IN DIFFERENT REGIONS OF THE UNITED STATES TO FURTHER ITS CHARITABLE INITIATIVES, THE FOUNDATION RECOGNIZED THAT NONPROFITS COULD LEARN FROM EACH OTHER TO SOLVE BIG PROBLEMS IN THEIR RESPECTIVE COMMUNITIES. FOR EXAMPLE, THE FOUNDATION FUNDED A COLLABORATION BETWEEN TWO ORGANIZATIONS THAT SUPPORT THE HOMELESS: PATH HOME IN PORTLAND, OREGON AND PEOPLE SERVING PEOPLE IN MINNEAPOLIS, MINNESOTA. MEMBERS OF KEY LEADERSHIP FROM BOTH ORGANIZATIONS VISITED EACH OTHER'S PHYSICAL LOCATIONS AND GENERATED IMPACTFUL DIALOGUE ON HOW TO ADDRESS ISSUES SUCH AS HOMELESSNESS PREVENTION, STAFFING AND HUMAN RESOURCES, AND SPACE DESIGN. BOTH ORGANIZATIONS HAD VALUABLE TAKEAWAYS AND WILL CONTINUE AND ONGOING RELATIONSHIP.THE FOUNDATION ALSO DEEPENED 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 2024, RECHARGE MINNESOTA SPONSORED AN EV EXPO AS MINNESOTA STATE COMMUNITY & TECHNICAL COLLEGE TO FOSTER EV ADOPTION AND AWARENESS. AT ITS EV EXPOS, RECHARGE MINNESOTA SEEKS TO CAPTURE THE FULL "ELECTRIC ECOSYSTEM" BY CREATING A SPACE TO EXPLORE A VARIETY OF HANDS-ON EXPERIENCES THAT INCLUDE TEST DRIVING THE LATEST EV MODELS, INTERACTING WITH CHARGING OPTIONS, ELECTRIC BIKES, AND OTHER FORMS OF ELECTRIC MOBILITY, WHILE LEARNING FROM INDUSTRY EXPERTS AND LOCAL EV OWNERS ABOUT THE BENEFITS OF DRIVING ELECTRIC. IN SEPTEMBER 2024, RECHARGE MINNESOTA HOSTED A RECHARGE MINNESOTA SYMPOSIUM AT THE UNIVERSITY OF MINNESOTA, BRINGING NUMEROUS NONPROFIT, PRIVATE BUSINESS, AND GOVERNMENTAL STAKEHOLDERS TOGETHER FOR PRESENTATIONS AND DISCUSSION WITH THE THEME OF ECONOMICS, EDUCATION, AND JOB CREATION: MAKING THE EV TRANSITION WORK IN YOUR COMMUNITY.IN 2024, 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.LED BY BOARD MEMBER/OFFICER KAREN SOLOMON, THE FOUNDATION ALSO LAID THE GROUNDWORK IN 2024 FOR THE LAUNCH OF A NEW WRITERS RESIDENCY PROGRAM IN 2025. THIS PROGRAM WILL OFFER 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. THE FOUNDATION MAY MAKE GRANTS TO INDIVIDUAL WRITERS FOR LODGING, REGISTRATION FEES AT A WRITERS' RETREAT, AND A DAILY STIPEND FOR MEALS. 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. IN 2024, 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.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, PLANNED PARENTHOOD NORTH CENTRAL STATES, 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. IN 2023, THE OLSETH FOUNDATION CONTINUED 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. BANK OF NEW YORK MELLON CALLABLE 24213 24763 CHEVRON SENIOR UNSECURED CALLABLE 47126 49457 COMERICA HYBRID PREFERRED 222000 223664 DEER PARK TOTAL RETURN CREDIT 1014116 931377 FEDERAL FARM CREDIT BANK HYBRID PREF 249833 249550 JP MORGAN STRATEGIC INCOME OPPS 1100000 1098742 MCDONALDS 111951 107461 METLIFE INC. JR SUBORDINATED 90000 98177 SCHWAB HYBRID PREFERRED 225191 223594 T MOBILE HYBRID PREFERRED 182656 181540 TRUIST HYBRID PREFERRED 199500 198324 VISA INC. SENIOR NOTES 47634 49421 WELLS FARGO HYBRID PREFERRED 249688 249548 APPLE INC 261023 2754620 BANK OF MONTREAL 104484 194100 BERKSHIRE HATHAWAY INC DEL CL B 259556 906560 BROWN ADVISORY SUSTAINABLE GROWTH FUND INST CLASS 618256 2056167 ECOLAB 109620 175740 MEDTRONIC PLC COM 681011 718920 MFS SER TR X INTERNATIONAL DIVERSIFICATION FUND CL I 1440155 2044811 NVENT ELECTRIC PLC ORDINARY SHARES 41545 170400 PENTAIR PLC SHS 81957 251600 SURMODICS INC 166445 276883 TORO CO 224805 560700 TOUCHSTONE MID CAP FUND GROUP TR MID CAP FD Y 454181 997622 TOUCHSTONE STRATEGIC TR GLOBAL ESG EQUITY FUND CLASS Y 1109845 1338389 BANK OF NOVA SCOTIA AT COST 109252 109436 CITIGROUP INC AT COST 100567 99728 DWS RREEF REAL ASSETS FUND INST AT COST 765917 924617 FIRST EAGLE GLOBAL FUND CL I AT COST 1115010 1410195 FRANKLIN TEMPLETON HIGH YIELD CORPORATE ETF AT COST 567656 596750 LAZARD GROUP LLC SR NT AT COST 99430 97273 MFS SER TR XIII GLOBAL REAL ESTATE FD CL I AT COST 250000 264861 PACER US CASH COW 100 ETF AT COST 650788 847200 PACER US SMALL CAP CASH COW ETF AT COST 748096 880200 PRINCIPAL EXCHANGE TRADED FDS AT COST 336411 372200 THORNBURG INVT TR INVT INCOME BUILDER FD CL I AT COST 1337670 1708794 TOUCHSTONE STRATEGIC TR SNDS CAP EMRNG MKTS GRWTH CL Y AT COST 400000 448630 VANGUARD INDEX FUNDS HIGH DIVIDEND YIELD ETF AT COST 111560 127590 VANGUARD INDEX FUNDS VANGUARD GROWTH ETF AT COST 276826 1026100 VANGUARD INDEX FUNDS VANGUARD MIDCAP ETF AT COST 145995 330163 VANGUARD INDEX FUNDS VANGUARD SMALLCAP ETF AT COST 272005 600700 VANGUARD SPECIALIZED FUNDS VANGUARD DIVIDEND APPRECIATION ETF AT COST 226309 587490 COST BASIS ADJUSTMENT 50 DUES & SUBSCRIPTIONS 1634 0 1634 FILING FEES 3500 0 3500 REGISTRATION FEE 400 0 400 LEGAL AND ADVISORY SERVICES 76869 0 76869 RBC MANAGEMENT FEES 166854 166854 0 RBC INVESTMENT FEES 235 235 0 PROFESSIONAL FEES - WEB 5545 0 5545 FOREIGN TAX PAID 1342 16018 0 FEDERAL PAYMENTS 24640 0 0