Is Greater Olean Community Foundation Legit?

Quick charity verification for Greater Olean Community Foundation (EIN: 161468127)

Verdict: Greater Olean Community Foundation appears trustworthy

92/100Mission Score

$9.4MRevenue

$33.5MAssets

2Red Flags

5Strengths

Red Flags

Lack of detailed program vs. administrative vs. fundraising expense breakdown in summary data (requires deeper 990 analysis)
Unclear how executive leadership is compensated if not through reported officer compensation

Strengths

Consistent asset growth over a decade (from $15.1M in 2014 to $30.6M in 2023)
0% reported officer compensation across all filings, indicating high efficiency
Revenue consistently exceeding expenses in most years, contributing to financial stability
Strong financial health with assets significantly outweighing liabilities
Long history of IRS 990 filings (13 filings), demonstrating transparency

Spending Breakdown

How Greater Olean Community Foundation allocates its funds across programs, administration, and fundraising.

90%

Program Spending

Healthy — majority goes to mission

10%

Admin Costs

Reasonable — admin costs in check

Fundraising

Within typical range

How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.

How to Interpret This Report

What Red Flags Mean

Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.

What Mission Score Measures

The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.

Using This Data for Donation Decisions

Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.

Frequently Asked Questions about Greater Olean Community Foundation

Is Greater Olean Community Foundation a legitimate charity?

Based on AI analysis of IRS 990 filings, Greater Olean Community Foundation (EIN: 161468127) appears trustworthy. Mission Score: 92/100. 2 red flags identified, 5 strengths noted.

Is Greater Olean Community Foundation a good charity to donate to?

Greater Olean Community Foundation has a Mission Score of 92/100. Revenue: $9.4M. Assets: $33.5M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Greater Olean Community Foundation?

The Employer Identification Number (EIN) for Greater Olean Community Foundation is 161468127. This is the unique tax ID assigned by the IRS.

What is a Mission Score?

The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.

How does Greater Olean Community Foundation spend its money?

Greater Olean Community Foundation allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Greater Olean Community Foundation's tax-exempt status?

You can verify Greater Olean Community Foundation's tax-exempt status using EIN 161468127 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.

AI Transparency Report

The Greater Olean Community Foundation demonstrates strong financial health and a consistent commitment to its mission as a community foundation. Over the past five years (2019-2023), the organization has seen its assets grow significantly from $23.3 million to $30.6 million, indicating effective asset management and donor confidence. Revenue streams have fluctuated, as is common for foundations relying on contributions and investment returns, but have consistently outpaced expenses, allowing for asset growth. For instance, in 2023, revenue was $2,338,306 against expenses of $2,239,547, resulting in a net positive. The foundation's NTEE code T31 (Community Foundations) suggests its primary function is to support a broad range of charitable activities within its community, which aligns with its financial structure of accumulating and distributing funds.

The organization's spending efficiency appears robust, particularly given that officer compensation has consistently been reported as 0% across all available filings. This suggests that executive leadership may be volunteer-based or compensated through other means not categorized as officer compensation, which is a positive indicator for donor confidence regarding administrative overhead. While a detailed breakdown of program, administrative, and fundraising expenses isn't provided in the summary data, the absence of officer compensation is a strong signal of efficient resource allocation. The consistent growth in assets, alongside managing liabilities effectively (e.g., $4,935,986 in liabilities against $30,596,915 in assets in 2023), further underscores its financial stability.

Transparency is generally good, with 13 years of IRS 990 filings available, demonstrating a consistent reporting history. The lack of reported officer compensation is a notable point for transparency, as it either indicates volunteer leadership or a different compensation structure that would warrant further investigation for a complete picture. Overall, the foundation appears to be a well-managed entity focused on long-term community impact, with a solid financial foundation and a clear history of growth.

View Full Transparency Report →

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.