2024-05-14T11:44:17-05:00 2023-12-31 861065772 DELOITTE TAX LLP 50 SOUTH SIXTH STREET MINNEAPOLIS MN 55402 990PF 2023-01-01 411875950 THE OLSETH FOUNDATION OLSE 6122673287 601 CARLSON PARKWAY SUITE 1050 MINNETONKA MN 55305 KAREN SOLOMON TREASURER 6122673287 2024-05-13 1 KAREN SOLOMON 999009999 0 KATHERINE POPPEN P01696738 6123974000 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z X 27044969 X X 102349 118222 483604 528704 564591 2291701 511814 116 116 1150660 1158856 222283 0 222283 133830 0 133830 74391 0 74391 17468 0 17468 158061 152790 5271 6261 11085 25 21929 0 21929 1445 0 1445 635668 163875 476642 907277 907277 1542945 163875 1383919 -392285 994981 2428824 1324994 1332613 6334106 6012278 11869793 2752216 3197762 3158728 7914676 8501988 10683835 19429822 19037022 27044969 0 0 X 0 0 0 0 19429822 19037022 19429822 19037022 19429822 19037022 19429822 -392285 0 19037537 515 19037022 RBC FINANCIAL - CAPITAL GAIN DISTRIBUTION P 62908 62908 62908 PUBLICLY TRADED SECURITIES P 2228793 1779887 448906 448906 511814 13830 0 13830 0 13830 4700 0 0 0 4700 X 0 9130 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 104807 5708 0 JON P OLSETH 601 CARLSON PARKWAY SUITE 1050 MINNETONKA MN 55305 VICE-PRESIDENT/SECRETARY 20.00 104807 5708 0 CHERYL A OLSETH 601 CARLSON PARKWAY SUITE 1050 MINNETONKA MN 55305 PRESIDENT 20.00 104807 5709 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 152790 BRIDGEVIEW LEGAL ADVISORS 601 CARLSON PARKWAY SUITE 1050 MINNETONKA MN 55305 ADVISORY SERVICES 74391 0 SEE STATEMENT 91750 NONE 0 0 0 25032521 819738 0 25852259 0 0 25852259 387784 25464475 1273224 1273224 13830 13830 1259394 0 1259394 0 1259394 1383919 0 1383919 1259394 0 0 45656 11462 3395 1490 52319 114322 1383919 0 0 0 1259394 124525 0 0 238847 0 0 0 0 0 0 45656 193191 11462 3395 1490 52319 124525 X AMERICAN CIVIL LIBERTIES FOUNDATION OF OREGON INC PO BOX 40585 PORTLAND OR 97240 PC OPERATING 5000 ADVOCATES FOR HUMAN RIGHTS 330 SECOND AVENUE SOUTH SUITE 800 MINNEAPOLIS MN 55401 PC OPERATING ($37,500), UN ADVOCACY TRIP ($4,500), WOMEN'S RIGHTS PROGRAM ($7,500) 49500 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 COUNCIL OF CONTRIBUTORS INC 4009 93RD AVE N MINNEAPOLIS MN 55443 PC OPERATING 5000 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 FRIENDS OF THE HENNEPIN COUNTY LIBRARY 300 NICOLLET MALL SUITE N-290 MINNEAPOLIS MN 55401 PC OPERATING 20000 FRESH ENERGY 408 SAINT PETER STREET SUITE 220 ST PAUL MN 55102 PC OPERATING 10000 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 ($17,300), KINDNESS BOOK PROJECT ($2,000) 39300 JUNGLE THEATER 2951 LYNDALE AVE S MINNEAPOLIS MN 55408 PC OPERATING 20000 KLAMATH-SISKIYOU WILDLANDS CENTER (KS WILD) PO BOX 102 ASHLAND OR 97520 PC OPERATING 5000 LIVING EARTH CENTER 170 GOOD COUNSEL DR STE 104 MANKATO MN 56001 PC OPERATING 5000 MANKATO AREA FOUNDATION 212 E WALNUT STREET MANKATO MN 56001 PC OPERATING ($20,000); RECHARGE FUND ($5,000) 25000 MEALS ON WHEELS PEOPLE INC 7710 SW 31ST AVENUE PORTLAND OR 97219 PC OPERATING 20000 MINNESOTA ENGAGEMENT ON SHELTER & HOUSING 740 EAST 17TH ST MINNEAPOLIS MN 55404 PC OPERATING 5000 MINNESOTA STATE UNIVERSITY MANKATO FOUNDATION INCORPORATED 309 WIGLEY ADMINISTRATION CENTER MANKATO MN 56001 PC STUDENT SCHOLARSHIPS ($5,000); AUTOMOTIVE TECHNOLOGY ($5,000); THEATRE ($2,000) 12000 MULTNOMAH ARTS CENTER ASSOCIATION 7688 SW CAPITOL HWY PORTLAND OR 97219 SO I ART PODS 10000 MANKATO YOUTH PLACE INC (MY PLACE) 709 S BROAD ST MANKATO MN 56001 PC OPERATING 5000 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 PUBLIC BROADCASTING 7140 SW MACADAM AVENUE PORTLAND OR 97219 PC OPERATING 10000 OREGON NATURAL RESOURCES COUNCIL FUND (OREGON WILD) 5825 N GREELEY AVE PORTLAND OR 97217 PC OPERATING 35000 OREGON WILDLIFE FOUNDATION 901 SE OAK STREET SUITE 103 PORTLAND OR 97214 PC WILDLIFE FEASIBILITY STUDY 25000 PEAR 338 NW 6TH AVE PORTLAND OR 97209 PC OPERATING 15000 PEOPLE SERVING PEOPLE INC 614 3RD STREET S MINNEAPOLIS MN 55415 PC OPERATING 20000 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 ($20,000); UPTOWN CLINIC ($20,000) 40000 PATH HOME (FORMERLY PHFS) 6220 SE 92ND AVE PORTLAND OR 97266 PC GENERAL OPERATING ($20,000); PREVENTION PROGRAM ($10,000) 30000 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 ($5,000); THEATER ($2,000) 7000 FRIENDS OF SATURDAY ACADEMY 5000 N WILLAMETTE BLVD PORTLAND OR 97203 PC SCHOOL RESIDENCY CLASSES 20000 STEGER CENTER FOR INNOVATION & LEADERSHIP 2008 PORTLAND AVENUE ST PAUL MN 55104 PC OPERATING 20000 ST OLAF COLLEGE 1520 ST OLAF AVENUE NORTHFIELD MN 55057 PC SCHOLARSHIP FUND 60000 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 THE NATURE CONSERVANCY 1101 W RIVER PARKWAY 200 MINNEAPOLIS MN 55415 PC NATURAL CLIMATE SOLUTIONS 10000 UNIVERSITY OF MINNESOTA FOUNDATION 200 OAK STREET SE MINNEAPOLIS MN 55455 PC RAPTOR CENTER FUND ($5,000); CENTER FOR FOREST ECOLOGY ($10,000), FUND FOR EXCELLENCE IN EDUCATION ($4,477) 19477 UNIVERSITY OF WISCONSIN FOUNDATION 1848 UNIVERSITY AVENUE MADISON WI 53726 PC PREDATOR RESEARCH 5000 WHITEFISH SKATEPARK ASSOCIATION 835 10TH STREET WEST COLUMBIA FALLS MT 59912 PC OPERATING 10000 WORLD WILDLIFE FUND INC (WWF) 1250 24TH ST NW WASHINGTON DC 20037 PC OPERATING 100000 907277 0 14 102349 14 483604 14 116 18 564591 0 1150660 0 1150660 0 0 0 0 0 0 0 0 0 0 ACCOUNTING FEES 17468 0 17468 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 2023. LED BY BOARD MEMBER/OFFICER JON OLSETH, THE OLSETH 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 OLSETH FAMILY FOUNDATION'S ACTIVE SUPPORT. IN 2023, RECHARGE MINNESOTA'S COMMUNITY ENGAGEMENT INCLUDED:MOBILIZING MINNESOTA: FORGING AN EQUITABLE PATH TO ELECTRIFICATION: A FULL-DAY SYMPOSIUM ON MARCH 22, 2023 DESIGNED TO 1) CONSTRUCT A COMPELLING STORY FOR HOW TRANSPORTATION ELECTRIFICATION AND RENEWABLE ENERGY REINFORCE EACH OTHER TO SECURE EQUITABLE ECONOMIC PROSPECTS FOR EVERYONE IN MINNESOTA; 2) PROVIDE A PLATFORM FOR LEADERS IN BUSINESS, NON-PROFIT, ACADEMIA AND GOVERNMENT TO STRATEGIZE WAYS FOR EQUITY TO REMAIN CENTRAL TO TRANSPORTATION ELECTRIFICATION AND ENERGY PLANNING; AND 3) RECOGNIZE AND CELEBRATE PROGRESS MADE BY RECHARGE MINNESOTA PARTICIPANTS.RECHARGE ALBERT LEA: AN EV EXPO AND TEST DRIVE EVENT ON MAY 6, 2023 BRINGING TOGETHER COMMUNITY STAKEHOLDERS AND HELD AT DESIGN READY CONTROLS, AN ALBERT LEA, MINNESOTA BASED BUSINESS THAT MANUFACTURES EV CHARGERS.ELK RIVER ELECTRIFUNCATION & EV TEST DRIVE EVENT: AN EV EXPO AND TEST DRIVE EVENT ON AUGUST 5, 2023 IN ELK RIVER, MINNESOTA BRINGING TOGETHER COMMUNITY STAKEHOLDERS AND DEMONSTRATING THAT EVS CAN BE BOTH FUN AND BENEFICIAL FOR THE ENVIRONMENT.WINONA EV TEST DRIVE & EXPO: AN EV EXPO AND TEST DRIVE EVENT ON SEPTEMBER 16, 2023 IN WINONA, MINNESOTA PROVIDING COMMUNITY MEMBERS WITH THE OPPORTUNITY TO TAKE AN EV FOR A SPIN, TRY OUT AN E-BIKE OR ELECTRIC SCOOTER, LEARN MORE ABOUT SOLAR PANELS, AND DISCOVER CLEAN ENERGY CAREER OPPORTUNITIES.ELECTRIFUN FARIBAULT: AN EV EXPO AND TEST DRIVE EVENT ON SEPTEMBER 23, 2023 IN FARIBAULT, MINNESOTA PROVIDING COMMUNITY MEMBERS WITH THE OPPORTUNITY TO DRIVE AN EV, RIDE AN ELECTRIC BIKE, RUN ELECTRIC TOOLS; AND TAKE A TOUR OF THE TRYSTAR ELECTRIC CABLE AND POWER DISTRIBUTION MANUFACTURING FACILITY.EACH EV EXPO FOSTERS EV ADOPTION AND AWARENESS. 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 2023, 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. IN 2023, BOARD MEMBER/OFFICER CHERYL OLSETH EXPANDED THE FOUNDATION'S INVOLVEMENT IN SUPPORT OF INTERNATIONAL HUMAN RIGHTS. AS A REPRESENTATIVE OF THE ADVOCATES FOR HUMAN RIGHTS, SHE ATTENDED THE UNITED NATION'S SIXTY-SEVENTH COMMISSION ON THE STATUS OF WOMEN. IN ADDITION, SHE HOSTED LOCAL EVENTS TO PROMOTE THE PROGRAMS OF THE ADVOCATES FOR HUMAN RIGHTS. IN 2023, CHERYL OLSETH ALSO FURTHERED THE FOUNDATION'S ENVIRONMENTAL INITIATIVES IN HER NEW ROLE AS CHAIR OF THE WORLD WILDLIFE FUND (WWF) NORTHERN GREAT PLAINS COMMITTEE.THESE DIRECT CHARITABLE ACTIVITIES FURTHER THE EXEMPT PURPOSES OF THE OLSETH FAMILY 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, CLIMATE GENERATION, 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 24369 CHEVRON SENIOR UNSECURED CALLABLE 47126 47952 COMERICA HYBRID PREFERRED 222000 212054 DEER PARK TOTAL RETURN CREDIT 732927 704719 FIDELITY FLOATING RATE HIGH INCOME 382146 387520 JP MORGAN CALLABLE 249875 248513 JP MORGAN STRATEGIC INCOME OPPS 750000 747257 METLIFE INC. JR SUBORDINATED 90000 94662 SCHWAB HYBRID PREFERRED 225191 221976 SPDR INV. GRADE FLOATING RATE 227150 229425 TRUIST HYBRID PREFERRED 199500 191486 VISA INC. SENIOR NOTES 47634 48795 APPLE INC 261023 2117830 BANK OF MONTREAL 104484 197880 BERKSHIRE HATHAWAY INC DEL CL B 259556 713320 BROWN ADVISORY SUSTAINABLE GROWTH FUND INST CLASS 618256 1794623 ECOLAB 109620 148763 MEDTRONIC PLC COM 832347 906180 MFS SER TR X INTERNATIONAL DIVERSIFICATION FUND CL I 1440155 1988409 NVENT ELECTRIC PLC ORDINARY SHARES 41545 147725 PENTAIR PLC SHS 81957 181775 STARBUCKS CORP 97407 168018 SURMODICS INC 344982 526784 TORO CO 256920 767920 TOUCHSTONE MID CAP FUND GROUP TR MID CAP FD Y 454181 941798 TOUCHSTONE STRATEGIC TR GLOBAL ESG EQUITY FUND CLASS Y 1109845 1268768 AMERICAN EXPRESS CO AT COST 100480 98345 BANK OF NOVA SCOTIA AT COST 109252 108215 BONDBLOXX ETF TRUST, BONDBLOXX BLOOMBERG ONE YEAR AT COST 248847 248900 BONDBLOXX ETF TRUST, BONDBLOXX BLOOMBERG SIX MONTH AT COST 250929 251000 CITIGROUP INC AT COST 101026 98749 DWS RREEF REAL ASSETS FUND INST AT COST 871917 1004029 FIRST EAGLE GLOBAL FUND CL I AT COST 1115010 1327144 FRANKLIN TEMPLETON HIGH YIELD CORPORATE ETF AT COST 449717 468800 LAZARD GROUP LLC SR NT AT COST 99430 94668 MFS SER TR XIII GLOBAL REAL ESTATE FD CL I AT COST 475000 464791 PACER US CASH COW 100 ETF AT COST 650788 779850 PACER US SMALL CAP CASH COW ETF AT COST 748096 960600 PRINCIPAL EXCHANGE TRADED FDS AT COST 336411 350200 THORNBURG INVT TR INVT INCOME BUILDER FD CL I AT COST 1337670 1594123 TOUCHSTONE STRATEGIC TR SNDS CAP EMRNG MKTS GRWTH CL Y AT COST 475000 510531 VANGUARD INDEX FUNDS HIGH DIVIDEND YIELD ETF AT COST 111560 111630 VANGUARD INDEX FUNDS VANGUARD GROWTH ETF AT COST 276826 777200 VANGUARD INDEX FUNDS VANGUARD MIDCAP ETF AT COST 145995 290800 VANGUARD INDEX FUNDS VANGUARD SMALLCAP ETF AT COST 272005 533325 VANGUARD INTERNATIONAL HIGH DIVIDEND YIELD ETF AT COST 99720 99735 VANGUARD SPECIALIZED FUNDS VANGUARD DIVIDEND APPRECIATION ETF AT COST 226309 511200 LEGAL FEES 74391 0 74391 COST BASIS ADJUSTMENT 515 EVENT EXPENSES 250 0 250 DUES & SUBSCRIPTIONS 1096 0 1096 OTHER GENERAL AND ADMIN EXPENSES 99 0 99 OTHER INCOME 116 116 116 RBC MANAGEMENT FEES 152538 152538 0 RBC INVESTMENT FEES 252 252 0 PROFESSIONAL FEES - WEB 1600 0 1600 PAYROLL ADMINISTRATIVE FEES 3671 0 3671 OR SECRETARY OF STATE FEE 25 0 25 FOREIGN TAX PAID 1279 11085 0 FEDERAL PAYMENTS 4957 0 0