Olsson Foundation Inc
- Assets
- $2.7m
- Revenue
- $624.2k
- Investments
- $2.2m
- Employees
- 0
- Location
- Lincoln, NE
- Founding
- 11/2014
- Data as of
- 12/2023
- EIN
- 47-1210501
Organization Overview
Olsson Foundation Inc is located in Lincoln, NE. The organization was established in 2014. According to its NTEE Classification (T31) the organization is classified as: Community 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. Olsson Foundation Inc 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 12/2023, Olsson Foundation Inc generated $624.2k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 19.2% each year . All expenses for the organization totaled $408.8k during the year ending 12/2023. While expenses have increased by 8.0% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Olsson Foundation Inc has awarded 89 individual grants totaling $1,536,537. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE ONLY GIVE GRANTS TO 501 C 3 ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Strittmatter President | 1 | $0 | |
Jeff Jenkins Sec Treasuer | 1 | $0 | |
John Olsson Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $550,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $74,226 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $624,226 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,158 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $12,400 |
| Contributions, gifts, grants paid | $396,352 |
| Total expenses and disbursements | $408,752 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $440,919 |
| Savings and temporary cash investments | $0 |
| 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 | $2,678,709 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $396,352 |
| 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 | $396,352 |
Grants Awarded
Over the last fiscal year, Olsson Foundation Inc has awarded $396,352 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
MADONNA FOUNDATION PURPOSE: BUILDING FUND | $5,000 |
UNIVERSITY OF NEB FD PURPOSE: SCHLORSHIPS | $300,000 |
KSU FOUNDATON PURPOSE: OLSSON LAB | $31,500 |
HABITAT FOR HUMANITY OF OMAHA PURPOSE: GENERAL OPERATING | $6,667 |
SCITECH INSTITUTE PURPOSE: STEM PROGRAMS | $6,667 |
CLEATS FOR KIDS PURPOSE: CLOTHING FOR KIDS IN NEED | $2,000 |