Greater Olean Community Foundation
Greater Olean Community Foundation shows consistent asset growth and zero reported officer compensation over a decade.
EIN: 161468127 · Olean, NY · NTEE: T31 · Updated: 2026-03-28
Is Greater Olean Community Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Greater Olean Community Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Greater Olean Community Foundation
Greater Olean Community Foundation (EIN: 161468127) is a nonprofit organization based in Olean, NY, classified under NTEE code T31. The organization reported total revenue of $9.4M and total assets of $33.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Greater Olean Community Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Greater Olean Community Foundation with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Greater Olean Community Foundation allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization's officers are either volunteers or compensated through mechanisms not classified as officer compensation, which is highly favorable for minimizing administrative overhead.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Greater Olean Community Foundation's IRS 990 filings:
- 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
The following positive indicators were identified for Greater Olean Community Foundation:
- 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
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) some concerns. Mission Score: 92/100. 2 red flags identified, 5 strengths noted.
How does Greater Olean Community Foundation spend its money?
Greater Olean Community Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Greater Olean Community Foundation tax-deductible?
Greater Olean Community Foundation is registered as a tax-exempt nonprofit (EIN: 161468127). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Greater Olean Community Foundation a good charity?
Based on the provided data, the Greater Olean Community Foundation appears to be a very good charity. It demonstrates strong financial health with consistent asset growth, low liabilities relative to assets, and a remarkable record of 0% reported officer compensation, suggesting high efficiency and dedication to its mission.
How has the organization's financial health changed over time?
The organization's financial health has steadily improved, with assets growing from $15.1 million in 2014 to $30.6 million in 2023. Revenue has consistently exceeded expenses in most years, contributing to this robust asset accumulation.
What is the organization's approach to executive compensation?
The Greater Olean Community Foundation reports 0% officer compensation in all available filings, indicating a highly cost-efficient approach to leadership, potentially relying on volunteer efforts or alternative compensation structures.
How does the organization manage its liabilities?
The organization maintains a healthy balance between assets and liabilities. For example, in 2023, liabilities were $4,935,986 against total assets of $30,596,915, indicating strong financial management and solvency.
Filing History
IRS 990 filing history for Greater Olean Community Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Greater Olean Community Foundation's revenue has grown by 379.8%, moving from $487K to $2.3M. Total assets increased by 236.5% over the same period, from $9.1M to $30.6M. Total functional expenses rose by 263.1%, from $617K to $2.2M. In its most recent filing year (2023), Greater Olean Community Foundation reported a surplus of $99K, with revenue exceeding expenses. The organization holds $4.9M in liabilities against $30.6M in assets (debt-to-asset ratio: 16.1%), resulting in net assets of $25.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $2.3M | $2.2M | $30.6M | $4.9M | — | — |
| 2022 | $3.4M | $2.6M | $27.0M | $4.4M | — | View 990 |
| 2021 | $4.5M | $1.7M | $31.3M | $5.2M | — | View 990 |
| 2020 | $1.9M | $1.5M | $26.0M | $4.0M | — | — |
| 2019 | $3.1M | $1.9M | $23.3M | $3.5M | — | View 990 |
| 2018 | $2.7M | $1.3M | $20.1M | $3.1M | — | View 990 |
| 2017 | $1.8M | $1.3M | $21.0M | $3.1M | — | View 990 |
| 2016 | $2.1M | $1.1M | $16.2M | $653K | — | View 990 |
| 2015 | $1.8M | $1.0M | $15.2M | $528K | — | View 990 |
| 2014 | $3.7M | $963K | $15.2M | $385K | — | View 990 |
| 2013 | $2.0M | $865K | $12.7M | $283K | — | View 990 |
| 2012 | $1.1M | $594K | $10.4M | $43K | — | View 990 |
| 2011 | $487K | $617K | $9.1M | $37K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.3M, expenses of $2.2M, and assets of $30.6M (revenue -31.9% year-over-year).
- 2022: Revenue of $3.4M, expenses of $2.6M, and assets of $27.0M (revenue -23.4% year-over-year).
- 2021: Revenue of $4.5M, expenses of $1.7M, and assets of $31.3M (revenue +130.9% year-over-year).
- 2020: Revenue of $1.9M, expenses of $1.5M, and assets of $26.0M (revenue -36.6% year-over-year).
- 2019: Revenue of $3.1M, expenses of $1.9M, and assets of $23.3M (revenue +13.1% year-over-year).
- 2018: Revenue of $2.7M, expenses of $1.3M, and assets of $20.1M (revenue +50.8% year-over-year).
- 2017: Revenue of $1.8M, expenses of $1.3M, and assets of $21.0M (revenue -15.6% year-over-year).
- 2016: Revenue of $2.1M, expenses of $1.1M, and assets of $16.2M (revenue +16.9% year-over-year).
- 2015: Revenue of $1.8M, expenses of $1.0M, and assets of $15.2M (revenue -50.2% year-over-year).
- 2014: Revenue of $3.7M, expenses of $963K, and assets of $15.2M (revenue +80.7% year-over-year).
- 2013: Revenue of $2.0M, expenses of $865K, and assets of $12.7M (revenue +86.4% year-over-year).
- 2012: Revenue of $1.1M, expenses of $594K, and assets of $10.4M (revenue +122.6% year-over-year).
- 2011: Revenue of $487K, expenses of $617K, and assets of $9.1M.
Data Sources and Methodology
This transparency report for Greater Olean Community Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.