Olean Foundation
Olean Foundation: Strong Asset Base, Inconsistent Revenue, and High Administrative Costs
EIN: 222496957 · Westerly, RI · NTEE: T20 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $147K |
| Total Expenses | $60K |
| Program Spending | 30% |
| CEO/Top Officer Pay | $0 |
| Net Assets | $908K |
| Transparency Score | 75/100 |
Is Olean Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Olean Foundation directs 30% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.
About Olean Foundation
Olean Foundation (EIN: 222496957) is a nonprofit organization based in Westerly, RI, classified under NTEE code T20. The organization reported total revenue of $147K and total assets of $1.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Olean Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Olean Foundation is a small nonprofit that has been operating for 42 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -4.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $53K |
| Total Expenses | $60K |
| Surplus / Deficit | $-6,858 |
| Total Assets | $908K |
| Total Liabilities | $1 |
| Net Assets | $908K |
| Operating Margin | -12.9% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 180.9 months |
Financial Health Grade: B
In 2023, Olean Foundation reported a deficit of $7K with expenses exceeding revenue, holds 180.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Olean Foundation's revenue has declined at a compound annual growth rate (CAGR) of -4.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -57.4% | +39.4% | +5.8% |
| 2022 | +154.0% | -22.9% | -21.4% |
| 2021 | +84.6% | -1.7% | +16.8% |
| 2020 | -69.9% | -14.1% | -2.5% |
| 2019 | +20.6% | -49.7% | +18.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1984 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Olean Foundation with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 50%
- programs: 30%
- fundraising: 20%
According to IRS 990 filings, Olean Foundation allocates its expenses as follows: admin: 50%, programs: 30%, fundraising: 20%. Only 30% is directed toward programs, which may warrant further investigation by donors.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $7K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The Olean Foundation consistently reports $0 in compensation for officers, directors, trustees, and key employees across all available filings, which is highly unusual for an organization with over $1 million in assets and suggests potential for undisclosed compensation or an entirely volunteer-run
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 Olean Foundation's IRS 990 filings:
- Consistent reporting of $0 executive compensation raises questions about how leadership is compensated or if services are provided pro bono, which could be unsustainable.
- Administrative expenses appear high relative to total expenses in some years (e.g., 2023: $60,221 expenses with $53,363 revenue, suggesting a significant portion of expenses are administrative or non-programmatic).
- Revenue has been highly inconsistent, ranging from $26,746 (2020) to $159,528 (2014), making long-term financial planning and program stability challenging.
Strengths
The following positive indicators were identified for Olean Foundation:
- The organization maintains a strong asset base, consistently over $800,000, providing a buffer against revenue fluctuations.
- The foundation has a long operational history with consistent filings dating back to at least 2013, indicating stability and compliance.
- Low liabilities reported across all years (often $0 or very low) suggest good financial health and minimal debt burden.
Frequently Asked Questions about Olean Foundation
Is Olean Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Olean Foundation (EIN: 222496957) some concerns. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
How does Olean Foundation spend its money?
Olean Foundation directs 30% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Olean Foundation tax-deductible?
Olean Foundation is registered as a tax-exempt nonprofit (EIN: 222496957). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Olean Foundation CEO make?
Olean Foundation's highest-compensated officer earns $0 annually. The organization reported $147K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Olean Foundation's spending goes to programs?
Olean Foundation directs 30% to programs, 20% to fundraising. This falls below the 65% industry benchmark, which may warrant further review by donors.
How does Olean Foundation compare to similar nonprofits?
With a transparency score of 75/100 (Good), Olean Foundation is above average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Olean Foundation located?
Olean Foundation is headquartered in Westerly, Rhode Island and files with the IRS under EIN 222496957. It is classified under NTEE code T20.
How many years of IRS 990 filings does Olean Foundation have?
Olean Foundation has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $147K in total revenue.
What does Olean Foundation do?
Olean Foundation is a nonprofit organization in the Philanthropy, Voluntarism & Grantmaking sector, located in Westerly, Rhode Island. It is classified under NTEE code T20.
How much revenue does Olean Foundation have?
Olean Foundation reported total revenue of $147,349. Based on 10 IRS 990 filings on record.
What are Olean Foundation's total assets?
Olean Foundation holds total assets of $1,000,868 as reported in IRS 990 filings.
Where is Olean Foundation located?
Olean Foundation is based in Westerly, Rhode Island.
What is Olean Foundation's EIN?
Olean Foundation's Employer Identification Number (EIN) is 222496957. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Olean Foundation?
Olean Foundation is classified under NTEE code T20 (Philanthropy, Voluntarism & Grantmaking).
Is Olean Foundation a registered 501(c)(3)?
Yes, Olean Foundation is recognized as a tax-exempt organization by the IRS. EIN: 222496957.
Does Olean Foundation file IRS Form 990?
Yes, Olean Foundation has 10 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Olean Foundation's revenue in 2023?
In the 202312 filing period, Olean Foundation reported total revenue of $53,363, total expenses of $60,221, and net assets of $907,722.
Is Olean Foundation's revenue growing or declining?
Olean Foundation's revenue is declining. Revenue went from $125,358 (202212) to $53,363 (202312), a -57.4% change. Based on 10 filings on record.
What is Olean Foundation's most recent 990 filing?
The most recent IRS Form 990 filing for Olean Foundation covers tax period 202312. It shows revenue of $53,363, expenses of $60,221, total assets of $907,722, and liabilities of $1.
How much does Olean Foundation spend on programs vs administration?
Based on IRS 990 analysis, Olean Foundation allocates approximately 30% of expenses to program services, 50% to administrative costs, and 20% to fundraising. Overhead costs appear high relative to program spending.
Is Olean Foundation a trustworthy charity?
Based on AI analysis of IRS 990 data, Olean Foundation appears trustworthy. Mission Score: 75/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for Olean Foundation?
The following concerns were identified: Consistent reporting of $0 executive compensation raises questions about how leadership is compensated or if services are provided pro bono, which could be unsustainable.. Administrative expenses appear high relative to total expenses in some years (e.g., 2023: $60,221 expenses with $53,363 revenue, suggesting a significant portion of expenses are administrative or non-programmatic).. Revenue has been highly inconsistent, ranging from $26,746 (2020) to $159,528 (2014), making long-term financial planning and program stability challenging.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Olean Foundation's strengths?
Positive indicators for Olean Foundation include: The organization maintains a strong asset base, consistently over $800,000, providing a buffer against revenue fluctuations.. The foundation has a long operational history with consistent filings dating back to at least 2013, indicating stability and compliance.. Low liabilities reported across all years (often $0 or very low) suggest good financial health and minimal debt burden.. These findings are derived from AI analysis of the organization's financial filings.
How does Olean Foundation compensate executives?
The Olean Foundation consistently reports $0 in compensation for officers, directors, trustees, and key employees across all available filings, which is highly unusual for an organization with over $1 million in assets and suggests potential for undisclosed compensation or an entirely volunteer-run Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent reporting of $0 executive compensation, what is the operational model for leadership and how does the organization ensure sustained leadership engagement and expertise?
The data suggests either a fully volunteer-led organization or that compensation is being reported under a different category, which would require deeper investigation into their financial statements and operational structure to understand how leadership is sustained without direct compensation.
With highly fluctuating annual revenues, how does the Olean Foundation plan and execute its programs to ensure consistent impact and avoid disruption?
The significant asset base likely provides stability, allowing the foundation to draw upon reserves during low-revenue years. However, without more detailed program information, it's difficult to assess how program delivery adapts to these revenue swings.
Filing History
IRS 990 filing history for Olean Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Olean Foundation's revenue has declined by 40.2%, moving from $89K to $53K. Total assets increased by 0.2% over the same period, from $906K to $908K. Total functional expenses fell by 17.7%, from $73K to $60K. In its most recent filing year (2023), Olean Foundation reported a deficit of $7K, with expenses exceeding revenue. The organization holds $1 in liabilities against $908K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $908K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $53K | $60K | $908K | $1 | — | View 990 |
| 2022 | $125K | $43K | $858K | $1K | — | View 990 |
| 2021 | $49K | $56K | $1.1M | $76 | — | View 990 |
| 2020 | $27K | $57K | $934K | $1 | — | View 990 |
| 2019 | $89K | $66K | $958K | $116 | — | View 990 |
| 2015 | $74K | $132K | $809K | $25K | — | View 990 |
| 2014 | $160K | $124K | $922K | $650 | — | View 990 |
| 2013 | $88K | $111K | $928K | $26K | — | View 990 |
| 2012 | $78K | $142K | $907K | $42K | — | View 990 |
| 2011 | $89K | $73K | $906K | $28K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $53K, expenses of $60K, and assets of $908K (revenue -57.4% year-over-year).
- 2022: Revenue of $125K, expenses of $43K, and assets of $858K (revenue +154.0% year-over-year).
- 2021: Revenue of $49K, expenses of $56K, and assets of $1.1M (revenue +84.6% year-over-year).
- 2020: Revenue of $27K, expenses of $57K, and assets of $934K (revenue -69.9% year-over-year).
- 2019: Revenue of $89K, expenses of $66K, and assets of $958K (revenue +20.6% year-over-year).
- 2015: Revenue of $74K, expenses of $132K, and assets of $809K (revenue -53.8% year-over-year).
- 2014: Revenue of $160K, expenses of $124K, and assets of $922K (revenue +80.6% year-over-year).
- 2013: Revenue of $88K, expenses of $111K, and assets of $928K (revenue +13.8% year-over-year).
- 2012: Revenue of $78K, expenses of $142K, and assets of $907K (revenue -13.0% year-over-year).
- 2011: Revenue of $89K, expenses of $73K, and assets of $906K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Olean Foundation:
Data Sources and Methodology
This transparency report for Olean 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.