Nonprofit · EIN 41-1875950
THE OLSETH FOUNDATION DBA THE OLSETH FAMILY FOUNDATION
Tax-exempt · HOPKINS, MN 55305
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990-PF | $1,998,578 | $1,671,318 | $327,260 | $18,828,292 | $0 | $18,828,292 |
| December 31, 2024 | 990-PF | $1,099,158 | $1,635,075 | -$535,917 | $18,501,055 | $0 | $18,501,055 |
| December 31, 2023 | 990-PF | $1,150,660 | $1,542,945 | -$392,285 | $19,037,022 | $0 | $19,037,022 |
Financial details: 990-PF for the year ended December 31, 2025
Revenue
- Dividends
- $640,826
- Interest
- $79,486
- Net gain from sales of assets
- $1,278,266
Expenses
- Grants and similar amounts paid
- $926,738
- Compensation of officers, directors and key employees
- $333,570
- Disbursements for charitable purposes
- $1,486,619
- Excise tax on investment income
- $25,283
Balance sheet and other
- Total assets, start of year
- $18,501,055
- Total assets, end of year
- $18,828,292
- Total liabilities, end of year
- $0
- Net assets, end of year
- $18,828,292
- Fair market value of assets
- $30,570,166
- Qualifying distributions
- $1,486,619
- Net investment income
- $2,003,585
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KAREN L SOLOMON 601 CARLSON PARKWAY SUITE 1050, MINNETONKA, MN 55305 | TREASURER | 20 | $111,190 | $27,224 |
| JON P OLSETH 601 CARLSON PARKWAY SUITE 1050, MINNETONKA, MN 55305 | VICE-PRESIDENT/SECRETARY | 20 | $111,190 | $27,224 |
| CHERYL A OLSETH 601 CARLSON PARKWAY SUITE 1050, MINNETONKA, MN 55305 | PRESIDENT | 20 | $111,190 | $27,224 |
| MARGARET CRONIN 601 CARLSON PARKWAY SUITE 1050, MINNETONKA, MN 55305 | ADMINISTRATIVE OFFICER | 3.6 | $0 | $0 |
990-PF for the year ended December 31, 2024: 4 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KAREN L SOLOMON 601 CARLSON PARKWAY SUITE 1050, MINNETONKA, MN 55305 | TREASURER | 20 | $107,951 | $24,329 |
| JON P OLSETH 601 CARLSON PARKWAY SUITE 1050, MINNETONKA, MN 55305 | VICE-PRESIDENT/SECRETARY | 20 | $107,951 | $24,329 |
| CHERYL A OLSETH 601 CARLSON PARKWAY SUITE 1050, MINNETONKA, MN 55305 | PRESIDENT | 20 | $107,951 | $24,330 |
| MARGARET CRONIN 601 CARLSON PARKWAY SUITE 1050, MINNETONKA, MN 55305 | ADMINISTRATIVE OFFICER | 3.6 | $0 | $0 |
990-PF for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KAREN L SOLOMON 601 CARLSON PARKWAY SUITE 1050, MINNETONKA, MN 55305 | TREASURER | 20 | $104,807 | $5,708 |
| JON P OLSETH 601 CARLSON PARKWAY SUITE 1050, MINNETONKA, MN 55305 | VICE-PRESIDENT/SECRETARY | 20 | $104,807 | $5,708 |
| CHERYL A OLSETH 601 CARLSON PARKWAY SUITE 1050, MINNETONKA, MN 55305 | PRESIDENT | 20 | $104,807 | $5,709 |
| MARGARET CRONIN 601 CARLSON PARKWAY SUITE 1050, MINNETONKA, MN 55305 | ADMINISTRATIVE OFFICER | 3.6 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 601 CARLSON PKWY STE 1050, HOPKINS, MN 55305-5219
- In care of
- % MARGARET A CRONIN
- Signed the 990-PF
- CHERYL OLSETH, PRESIDENT
- Phone
- (612) 267-3287
- Return prepared by
- DELOITTE TAX LLP
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990-PF on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 41-1875950
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 1998
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T90)
- Assets (IRS master file)
- $18,828,292
- Income (IRS master file)
- $6,940,004
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2025 | $1,998,578 | $1,671,318 | $18,828,292 | IRS |
| 990-PF | December 2024 | $1,099,158 | $1,635,075 | $18,501,055 | IRS |
| 990-PF | December 2023 | $1,150,660 | $1,542,945 | $19,037,022 | XML |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 41-1875950).
Questions about THE OLSETH FOUNDATION DBA THE OLSETH FAMILY FOUNDATION
- What is the EIN of THE OLSETH FOUNDATION DBA THE OLSETH FAMILY FOUNDATION?
- The employer identification number (EIN) of THE OLSETH FOUNDATION DBA THE OLSETH FAMILY FOUNDATION is 41-1875950.
- Is THE OLSETH FOUNDATION DBA THE OLSETH FAMILY FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1998.
- Are donations to THE OLSETH FOUNDATION DBA THE OLSETH FAMILY FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does THE OLSETH FOUNDATION DBA THE OLSETH FAMILY FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of THE OLSETH FOUNDATION DBA THE OLSETH FAMILY FOUNDATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did THE OLSETH FOUNDATION DBA THE OLSETH FAMILY FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2025.
- Who are the officers and directors of THE OLSETH FOUNDATION DBA THE OLSETH FAMILY FOUNDATION?
- The 990-PF for the year ended December 31, 2025 lists 4 people; 3 received compensation from the organization, the highest $111,190 (KAREN L SOLOMON, TREASURER).
- How much revenue does THE OLSETH FOUNDATION DBA THE OLSETH FAMILY FOUNDATION have?
- On its 990-PF for the year ended December 31, 2025 it reported revenue of $1,998,578, expenses of $1,671,318 and total assets of $18,828,292 at year end.
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All nonprofits in HOPKINS · Minnesota · Philanthropy, voluntarism and grantmaking foundations