Olean General Hospital Foundation
Olean General Hospital Foundation shows fluctuating revenue and consistent asset growth, with recent years' expenses exceeding revenue.
EIN: 161497087 · Olean, NY · NTEE: T00I · Updated: 2026-03-28
Is Olean General Hospital Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Olean General Hospital Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Olean General Hospital Foundation
Olean General Hospital Foundation (EIN: 161497087) is a nonprofit organization based in Olean, NY, classified under NTEE code T00I. The organization reported total revenue of $15.2M and total assets of $45.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Olean General Hospital 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 Olean General Hospital Foundation with a Mission Score of 85 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, Olean General Hospital 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 no officers are directly compensated by the foundation, or their compensation is covered by the parent hospital, which is a strong positive for donor confidence and transparency.
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 General Hospital Foundation's IRS 990 filings:
- Expenses exceeded revenue in the two most recent filing periods (2022 and 2023), potentially drawing down reserves if not a planned strategic expenditure.
Strengths
The following positive indicators were identified for Olean General Hospital Foundation:
- Consistent asset growth over the past decade, from $26,630,825 in 2015 to $45,810,107 currently.
- Zero officer compensation reported across all filings, indicating high transparency and efficient use of funds for mission.
- Strong financial reserves with assets significantly exceeding annual expenses, providing stability.
- Low liabilities relative to assets, indicating a healthy balance sheet.
Frequently Asked Questions about Olean General Hospital Foundation
Is Olean General Hospital Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Olean General Hospital Foundation (EIN: 161497087) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Olean General Hospital Foundation spend its money?
Olean General Hospital Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Olean General Hospital Foundation tax-deductible?
Olean General Hospital Foundation is registered as a tax-exempt nonprofit (EIN: 161497087). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Why have expenses exceeded revenue in 2022 and 2023?
In 2022, expenses were $3,996,094 against revenue of $2,397,602, and in 2023, expenses were $3,169,093 against revenue of $2,589,846. This could indicate strategic spending from reserves, significant capital projects, or a temporary dip in fundraising not yet reflected in operational adjustments.
What is the primary source of the foundation's revenue given its fluctuations?
The significant fluctuations in revenue, such as $10,225,625 in 2020 compared to $895,786 in 2016, suggest a reliance on large gifts, grants, or investment returns rather than a consistent stream of smaller donations. Further detail would require examining the specific revenue breakdown in the 990s.
How does the foundation ensure its long-term financial sustainability with varying revenue?
Despite revenue fluctuations, the foundation has consistently grown its assets, from $26,630,825 in 2015 to $45,810,107 currently. This asset base likely provides a buffer and investment income to support its mission even during periods of lower fundraising.
Filing History
IRS 990 filing history for Olean General Hospital Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Olean General Hospital Foundation's revenue has declined by 79.9%, moving from $12.9M to $2.6M. Total assets increased by 86.8% over the same period, from $23.5M to $43.9M. Total functional expenses rose by 63.3%, from $1.9M to $3.2M. In its most recent filing year (2023), Olean General Hospital Foundation reported a deficit of $579K, with expenses exceeding revenue. The organization holds $74K in liabilities against $43.9M in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $43.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $2.6M | $3.2M | $43.9M | $74K | — | View 990 |
| 2022 | $2.4M | $4.0M | $40.6M | $71K | — | — |
| 2021 | $6.1M | $2.3M | $48.1M | $58K | — | View 990 |
| 2020 | $10.2M | $1.7M | $44.5M | $53K | — | — |
| 2019 | $1.9M | $2.0M | $33.0M | $63K | — | View 990 |
| 2018 | $3.3M | $1.8M | $29.5M | $69K | — | View 990 |
| 2017 | $4.3M | $2.1M | $31.9M | $264K | — | View 990 |
| 2016 | $896K | $1.9M | $27.4M | $0 | — | View 990 |
| 2015 | $1.4M | $1.8M | $26.6M | $0 | — | View 990 |
| 2014 | $1.9M | $2.2M | $28.8M | $0 | — | View 990 |
| 2013 | $1.4M | $1.7M | $29.5M | $25K | — | View 990 |
| 2012 | $3.5M | $1.4M | $27.7M | $0 | — | View 990 |
| 2011 | $12.9M | $1.9M | $23.5M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.6M, expenses of $3.2M, and assets of $43.9M (revenue +8.0% year-over-year).
- 2022: Revenue of $2.4M, expenses of $4.0M, and assets of $40.6M (revenue -60.5% year-over-year).
- 2021: Revenue of $6.1M, expenses of $2.3M, and assets of $48.1M (revenue -40.6% year-over-year).
- 2020: Revenue of $10.2M, expenses of $1.7M, and assets of $44.5M (revenue +428.7% year-over-year).
- 2019: Revenue of $1.9M, expenses of $2.0M, and assets of $33.0M (revenue -40.7% year-over-year).
- 2018: Revenue of $3.3M, expenses of $1.8M, and assets of $29.5M (revenue -24.8% year-over-year).
- 2017: Revenue of $4.3M, expenses of $2.1M, and assets of $31.9M (revenue +384.0% year-over-year).
- 2016: Revenue of $896K, expenses of $1.9M, and assets of $27.4M (revenue -36.3% year-over-year).
- 2015: Revenue of $1.4M, expenses of $1.8M, and assets of $26.6M (revenue -27.9% year-over-year).
- 2014: Revenue of $1.9M, expenses of $2.2M, and assets of $28.8M (revenue +41.7% year-over-year).
- 2013: Revenue of $1.4M, expenses of $1.7M, and assets of $29.5M (revenue -60.9% year-over-year).
- 2012: Revenue of $3.5M, expenses of $1.4M, and assets of $27.7M (revenue -72.7% year-over-year).
- 2011: Revenue of $12.9M, expenses of $1.9M, and assets of $23.5M.
Data Sources and Methodology
This transparency report for Olean General Hospital 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.