Olson Family Foundation
- Assets
- $242.1k
- Revenue
- $61.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Mccormick, SC
- Founding
- 09/2008
- Data as of
- 12/2022
- EIN
- 26-2792365
Organization Overview
Olson Family Foundation is located in Mccormick, SC. The organization was established in 2008. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, 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. Olson Family Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Olson Family Foundation generated $61.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (4.9%) each year. All expenses for the organization totaled $74.6k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (5.9%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FUNDS TO SUPPORT EXPENDITURES TO ACHEIVE FOUNDATION MISSION. SEVEN ORGANIZATIONS SERVED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
C Terry Olson Manager | 2 | $0 | |
Denise A Olson Trustee | 2 | $0 | |
Jason J Olson Trustee | 10 | $0 | |
Jillian R Priebe Trustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $55,360 |
| Interest on Savings | $10 |
| Dividends & Interest | $17,075 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$11,396 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $61,049 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $46,800 |
| Total operating and administrative expenses | $48,400 |
| Contributions, gifts, grants paid | $26,210 |
| Total expenses and disbursements | $74,610 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,208 |
| Savings and temporary cash investments | $226,898 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $242,106 |
| 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, Olson Family Foundation has awarded $25,310 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
LUTHERAN CHURCH BY THE LAKE PURPOSE: TO SUPPORT CHURCH ACTIVITIES | $460 |
MCCORMICK COUNTY CHAMBER PURPOSE: TO SUPPORT COMMUNITY ACTIVITIES | $1,150 |
CANCER SOCIETY PURPOSE: TO SUPPORT RESEARCH ACTIVITIES | $1,000 |
ARCHWAY ACADEMY PURPOSE: TO SUPPORT EDUCATIONAL ACTIVIITES | $4,700 |
UNIVERSITY OF NEBRASKA FOUNDATION PURPOSE: TO SUPPORT EDUCATIONAL ACTIVITIES | $12,500 |
UNBRIDLED PATHWAYS PURPOSE: TO SUPPORT COMMUNITY ACTIVITIES | $500 |