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OLESKY FAMILY FOUNDATION: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
OLESKY FAMILY FOUNDATION (EIN 27-4462285)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-10-23
IRS object ID
202502969349101000
Schema version
2024v5.2
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2025-10-23T06:38:23-05:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Foundation SourceBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line13333 New Hyde Park Rd Ste 406AddressLine1Txt
CityNew Hyde ParkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11042ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2024-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN274462285EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Olesky Family FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% Foundation SourceInCareOfNm
Business Name ControlOLESBusinessNameControlTxt
Phone8008391754PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1Foundation Source 501 Silverside RdAddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonLee OleskyPersonNm
Person TitlePresidentPersonTitleTxt
Phone8008391754PhoneNum
Signature2025-09-27SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJeffrey D HaskellPreparerPersonNm
PTINP01345770PTIN
Phone8008391754PhoneNum
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$3,230,556FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$2,618,500ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$3,243InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$3,243InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$6,586DividendsRevAndExpnssAmt
Dividends Net Invst Incm$6,586DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$268,184NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$577,922GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$329,137CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$2,896,513TotalRevAndExpnssAmt
Total Net Invst Incm$338,966TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Taxes Rev And Expnss$99TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$6,506OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$6,506OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$6,605TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$6,506TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$6,500ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$6,500ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$13,105TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$13,006TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$2,883,408ExcessRevenueOverExpensesAmt
Net Investment Income$338,966NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$1,109SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$108,713SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$108,713SavAndTempCashInvstEOYFMVAmt
US Government Obligations BOY$131,724USGovernmentObligationsBOYAmt
Corporate Stock BOY$136,091CorporateStockBOYAmt
Corporate Stock EOY$3,043,619CorporateStockEOYAmt
Corporate Stock EOYFMV$3,121,843CorporateStockEOYFMVAmt
Total Assets BOY$268,924TotalAssetsBOYAmt
Total Assets EOY$3,152,332TotalAssetsEOYAmt
Total Assets EOYFMV$3,230,556TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$268,924RetainedEarningBOYAmt
Retained Earning EOY$3,152,332RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$268,924TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$3,152,332TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$268,924TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$3,152,332TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$268,924TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$2,883,408ExcessRevenueOverExpensesAmt
Subtotal$3,152,332SubtotalAmt
Tot Net Ast Or Fund Balances EOY$3,152,332TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
PropertyPublicly-traded SecuritiesPropertyDesc
Gross Sales Price$577,922GrossSalesPriceAmt
Cost Or Other Basis$248,785CostOrOtherBasisAmt
Gain Or Loss$329,137GainOrLossAmt
Gains Minus Excess Or Losses$329,137GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$329,137CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$4,712InvestmentIncomeExciseTaxAmt
Subtotal$4,712SubtotalAmt
Tax Based On Investment Income$4,712TaxBasedOnInvestmentIncomeAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Extsn Request Income Tax Paid$4,800ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits$4,800TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$0EsPenaltyAmt
Overpayment$88OverpaymentAmt
Applied To ES Tax$88AppliedToESTaxAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateDEOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1Foundation SourceBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone8008391754PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1501 Silverside Road Suite 123AddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
Amy Olesky
Foundation Source 501 Silverside RdWilmingtonDE198091377VP1.0$0$0$0
Lee Olesky
Foundation Source 501 Silverside RdWilmingtonDE198091377Pres, Dir, Sec1.0$0$0$0
FieldValueIRS element (for citing)
Summary Of Direct Chrtbl ActySummaryOfDirectChrtblActyGrp
Sum Of Program Related InvstSumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$692,986AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$99,666AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$792,652TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$792,652AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$11,890CashDeemedCharitableAmt
Net Vl Noncharitable Assets$780,762NetVlNoncharitableAssetsAmt
Minimum Investment Return$39,038MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$39,038MinimumInvestmentReturnAmt
Tax Based On Investment Income$4,712TaxBasedOnInvestmentIncomeAmt
Total Tax$4,712TotalTaxAmt
Distributable Before Adj$34,326DistributableBeforeAdjAmt
Distributable Before Ded$34,326DistributableBeforeDedAmt
Distributable As Adjusted$34,326DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$13,006ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$13,006QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$34,326DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$5,748ExcessDistributionCyovYr5Amt
Total Excess Distribution Cyov$5,748TotalExcessDistributionCyovAmt
Qualifying Distributions$13,006QualifyingDistributionsAmt
Applied To Current Year$13,006AppliedToCurrentYearAmt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Excess Distri Cyov App CY Corpus$5,748ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$5,748ExcessDistributionCyovAppCYAmt
Undistributed Income CY$15,572UndistributedIncomeCYAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerAmy OleskyContributingManagerNm
Contributing ManagerLee OleskyContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (5 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
JEWISH NATIONAL FUND-USA INC
42 E 69TH STNEW YORKNY10021N/APCTo support the rebuilding of Kibbutz Be'eri Kibbutz Beeri- Israel Resilience Campaign$1,000
MRCC FOUNDATION INC
713 PASSAIC AVEWEST CALDWELLNJ07006N/APCGeneral & Unrestricted$1,000
SAVING MOTHERS
445 PARK AVE 965NEW YORKNY10022N/APCGeneral & Unrestricted$750
TRUSTEES OF UNION COLLEGE
807 UNION STSCHENECTADYNY12308N/APCGeneral & Unrestricted$3,000
USC SHOAH FOUNDATION INSTITUTE
LEAVEY LIBRARY STE 114LOS ANGELESCA90089N/APCGeneral & Unrestricted$750
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$6,500TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

FieldValueIRS element (for citing)
Fees Contracts From Govt AgFeesContractsFromGovtAgGrp
Membership Dues And AssmntMembershipDuesAndAssmntGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$3,243ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$6,586ExclusionAmt
FieldValueIRS element (for citing)
Net Rntl Incm Re Debt Fincd PropNetRntlIncmReDebtFincdPropGrp
Net Rntl Incm Re Not Debt Fincd PropNetRntlIncmReNotDebtFincdProp
Net Rental Income Personal PropNetRentalIncomePersonalPropGrp
Other Investment IncomeOtherInvestmentIncomeGrp

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion$268,184ExclusionAmt
FieldValueIRS element (for citing)
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$278,013ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$278,013TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
Contributor1ContributorNum
Contributor PersonOlesky LeeContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1174 East 75th StreetAddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10021ZIPCd
FieldValueIRS element (for citing)
Total Contributions$2,618,500TotalContributionsAmt
Noncash ContributionYes (X)NoncashContributionInd

Non Cash Property Contribution NonCashPropertyContributionGrp

FieldValueIRS element (for citing)
Contributor1ContributorNum
Noncash PropertyTRADEWEB MARKETS INC TW, 20000 sh.NoncashPropertyDesc
Fair Market Value$2,618,500FairMarketValueAmt
Received2024-12-19ReceivedDt

Depreciation Schedule DepreciationSchedule

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (2 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
SPDR S&P 500 ETF TRUST$425,119$503,443
TRADEWEB MARKETS INC$2,618,500$2,618,400

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Administrative Fees$6,481$6,481
State or Local Filing Fees$25$25

Reasonable Cause Explanation ReasonableCauseExplanation

FieldValueIRS element (for citing)
ExplanationWe respectfully request that Olesky Family Foundation's quarterly estimated taxes for taxable year ending December 31, 2024 be treated as timely and request that the $7 penalty indicated on Form 2220 be abated because the underpayment in Q1, Q2, Q3 and Q4 was due to reasonable cause. Treasury Regulations Sec 301.6651-1(c)(1) defines reasonable by asking whether the taxpayer exercised ordinary business care and prudence. The Foundation exercised care and prudence in seeking a reputable firm knowledgeable about exempt organizations to calculate its quarterly estimates for tax period ending December 31, 2024. The firm's software correctly determined that the foundation could pay its Q1, Q2, Q3 and Q4 estimate based on prior year tax liability. However, since that liability was under $500, the software incorrectly indicated that no quarterly payment was due. As soon as the error was discovered, the foundation paid the required tax. We believe that the underpayment was due to reasonable cause and in no way due to an intentional disregard for the rules and respectfully request that no 2220 penalty be assessed.ExplanationTxt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
Category990-PF Excise Tax for 2023CategoryTxt
Amt$99Amt

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