Olean Foundation

Westerly, RI
Tax-exempt since Nov. 1984
EIN: 22-2496957

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Philanthropy, Voluntarism and Grantmaking Foundations / Private Grantmaking Foundations (NTEE)

Donations to this organization are tax deductible.

Revenue

$37k (2024)

Expenses

$67.9k (2024)

Total Assets

$1M (2024)

Total Liabilities

$0 (2024)

Source: Form 990 tax filings from 2011 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Revenue

$36,972

Expenses

$67,857

Net Income

-$30,885

Net Assets

$1,000,868

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$1	0.0%
Dividends	$36,724	99.3%
Sales of Assets	$247	0.7%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$56,292	83.0%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,000,868
Total Liabilities	$0
Net Assets	$1,000,868

Compensation

Key Employees and Officers	Compensation	Other
Bruce Olean (President)	$0	$0
Ralph Abruzzese (Vice Preside)	$0	$0
Margaret Steele (Director)	$0	$0
Rboert Hoffman (Treasurer)	$0	$0
Raymond Walsh (Finance Dire)	$0	$0
Joan Gradilone (Director)	$0	$0
Ruth Tureckova (Executive Di)	$0	$0

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990-PF

Filed on Oct. 2, 2025

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending Dec.
2023

Revenue

$53,363

Expenses

$60,221

Net Income

-$6,858

Net Assets

$907,722

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$2	0.0%
Dividends	$34,562	64.8%
Sales of Assets	$18,799	35.2%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$49,192	81.7%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$907,722
Total Liabilities	$0
Net Assets	$907,722

Compensation

Key Employees and Officers	Compensation	Other
Bruce Olean (President)	$0	$0
Ralph Abruzzese (Vice Pres.)	$0	$0
Margaret Steele (Director)	$0	$0
Bob Hoffman (Treasurer)	$0	$0
Raymond Walsh (Finance Dire)	$0	$0
Ruth Tureckova (Executive Di)	$0	$0

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990-PF

Filed on Oct. 15, 2024

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending Dec.
2022

Revenue

$125,358

Expenses

$43,189

Net Income

$82,169

Net Assets

$857,291

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$3	0.0%
Dividends	$31,970	25.5%
Sales of Assets	$93,385	74.5%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$30,477	70.6%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$858,328
Total Liabilities	$1,037
Net Assets	$857,291

Compensation

Key Employees and Officers	Compensation	Other
Bruce Olean (President)	$0	$0
Ralph Abruzzese (Vice Pres.)	$0	$0
Margaret Steele (Director)	$0	$0
Bob Hoffman (Treasurer)	$0	$0
Dick Mansfield (Director)	$0	$0
Raymond Walsh (Finance Dire)	$0	$0
Ruth Tureckova (Executive Di)	$0	$0

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990-PF

Filed on Sept. 12, 2023

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2021

Revenue

$49,360

Expenses

$56,000

Net Income

-$6,640

Net Assets

$1,091,345

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$10	0.0%
Dividends	$29,131	59.0%
Sales of Assets	$20,196	40.9%
Other Income	$23	0.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$44,372	79.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,091,421
Total Liabilities	$76
Net Assets	$1,091,345

Compensation

Key Employees and Officers	Compensation	Other
Bruce Olean (President)	$0	$0
Ralph Abruzzese (Vice Pres.)	$0	$0
Margaret Steele (Director)	$0	$0
Bob Hoffman (Treasurer)	$0	$0
Dick Mansfield (Director)	$0	$0
Michele Walsh (Finance Dire)	$0	$0
Ruth Tureckova (Executive Di)	$0	$0

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990-PF

Filed on Aug. 5, 2022

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2020

Revenue

$26,746

Expenses

$56,996

Net Income

-$30,250

Net Assets

$934,472

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$2,500	9.3%
Interest Revenue	$64	0.2%
Dividends	$23,605	88.3%
Sales of Assets	$577	2.2%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$47,242	82.9%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$934,473
Total Liabilities	$1
Net Assets	$934,472

Compensation

Key Employees and Officers	Compensation	Other
Bruce Olean (President)	$0	$0
Ralph Abruzzese (Vice Pres.)	$0	$0
Margaret Steele (Director)	$0	$0
Bob Hoffman (Treasurer)	$0	$0
Dick Mansfield (Director)	$0	$0
Michele Walsh (Finance Dire)	$0	$0
Ruth Tureckova (Executive Di)	$0	$0

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990-PF

Filed on Aug. 1, 2021

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2019

Revenue

$88,909

Expenses

$66,335

Net Income

$22,574

Net Assets

$957,878

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$15,377	17.3%
Interest Revenue	$393	0.4%
Dividends	$30,227	34.0%
Sales of Assets	$12,112	13.6%
Other Income	$30,800	34.6%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$32,203	48.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$957,994
Total Liabilities	$116
Net Assets	$957,878

Compensation

Key Employees and Officers	Compensation	Other
Bruce Olean (President)	$0	$0
Ralph Abruzzese (Vice Pres.)	$0	$0
Margaret Steele (Director)	$0	$0
Bob Hoffman (Treasurer)	$0	$0
Dick Mansfield (Director)	$0	$0
Anthony Velucci (Executive Di)	$0	$0

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990-PF

Filed on Aug. 11, 2020

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2018

Revenue

$19,737

Expenses

$55,832

Net Income

-$36,095

Net Assets

$805,370

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$9,291	47.1%
Interest Revenue	$415	2.1%
Dividends	$27,572	> 100%
Sales of Assets	-$47,241
Other Income	$29,700	> 100%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$24,261	43.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$805,370
Total Liabilities	$0
Net Assets	$805,370

Compensation

Key Employees and Officers	Compensation	Other
Bruce Olean (President)	$0	$0
Ralph Abruzzese (Vice Pres.)	$0	$0
Margaret Steele (Director)	$0	$0
Bob Hoffman (Treasurer)	$0	$0
Dick Mansfield (Director)	$0	$0
Bob Mastrofino Cpa (Finance Dire)	$0	$0
Anthony Velucci (Executive Di)	$0	$0

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990-PF

Filed on Nov. 5, 2019

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2017

Revenue

$81,768

Expenses

$86,569

Net Income

-$4,801

Net Assets

$821,537

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$9,625	11.8%
Interest Revenue	$403	0.5%
Dividends	$28,498	34.9%
Sales of Assets	$25,917	31.7%
Other Income	$17,325	21.2%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$63,207	73.0%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$821,861
Total Liabilities	$324
Net Assets	$821,537

Compensation

Key Employees and Officers	Compensation	Other
Bruce Olean (President)	$0	$0
Ralph Abruzzese (Vice Pres.)	$0	$0
Margaret Steele (Director)	$0	$0
Bob Hoffman (Treasurer)	$0	$0
Dick Mansfield (Director)	$0	$0
Bob Mastrofino Cpa (Finance Dire)	$0	$0
Anthony Velucci (Executive Di)	$0	$0

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990-PF

Filed on Sept. 14, 2018

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2016

Revenue

$93,623

Expenses

$114,738

Net Income

-$21,115

Net Assets

$798,988

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$25,900	27.7%
Interest Revenue	$186	0.2%
Dividends	$26,426	28.2%
Sales of Assets	$11,411	12.2%
Other Income	$29,700	31.7%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$69,604	60.7%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$863,264
Total Liabilities	$64,276
Net Assets	$798,988

Compensation

Key Employees and Officers	Compensation	Other
Bruce Olean (President)	$0	$0
Ralph Abruzzese (Vice Pres.)	$0	$0
Margaret Steele (Director)	$0	$0
Bob Hoffman (Treasurer)	$0	$0
Dick Mansfield (Director)	$0	$0
Bob Mastrofino Cpa (Finance Dire)	$0	$0
Anthony Velucci (Executive Di)	$0	$0

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990-PF

Filed on Aug. 31, 2017

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2015

Revenue

$73,705

Expenses

$131,956

Net Income

-$58,251

Net Assets

$783,669

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$33,285	45.2%
Interest Revenue	$111	0.2%
Dividends	$32,454	44.0%
Sales of Assets	-$22,145
Other Income	$30,000	40.7%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$86,900	65.9%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$808,862
Total Liabilities	$25,193
Net Assets	$783,669

Compensation

Key Employees and Officers	Compensation	Other
Bruce Olean (President)	$0	$0
Ralph Abruzzese (Vice Pres.)	$0	$0
Margaret Steele (Director)	$0	$0
Bob Hoffman (Treasurer)	$0	$0
Dick Mansfield (Director)	$0	$0
Bob Mastrofino Cpa (Finance Dire)	$0	$0
Anthony Velucci (Executive Di)	$0	$0

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990-PF

Filed on Sept. 23, 2016

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2014

Revenue

$159,528

Expenses

$123,819

Net Income

$35,709

Net Assets

$921,227

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$29,765	18.7%
Interest Revenue	$43	0.0%
Dividends	$35,781	22.4%
Sales of Assets	$63,939	40.1%
Other Income	$30,000	18.8%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$77,397	62.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$921,877
Total Liabilities	$650
Net Assets	$921,227

Compensation

Key Employees and Officers	Compensation	Other
Bruce Olean (President)	$0	$0
Ralph Abruzzese (Vice Pres.)	$0	$0
Margaret Steele (Director)	$0	$0
Bob Hoffman (Treasurer)	$0	$0
Dick Mansfield (Director)	$0	$0

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990-PF

Filed on Sept. 25, 2015

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2013

Revenue

$88,324

Expenses

$110,902

Net Income

-$22,578

Net Assets

$902,239

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$29,620	33.5%
Interest Revenue	$4,012	4.5%
Dividends	$28,244	32.0%
Sales of Assets	-$3,552
Other Income	$30,000	34.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$66,432	59.9%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$928,129
Total Liabilities	$25,890
Net Assets	$902,239

Compensation

Key Employees and Officers	Compensation	Other
Bruce Olean (President)	$0	$1
Ralph Abruzzese (Vice Pres.)	$0	$0
Margaret Steele (Director)	$0	$0
Bob Hoffman (Treasurer)	$0	$0
Dick Mansfield (Director)	$0	$0

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990-PF

Filed on Nov. 14, 2014

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2012

Revenue

$77,611

Expenses

$141,678

Net Income

-$64,067

Net Assets

$865,363

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$29,343	37.8%
Interest Revenue	$38	0.0%
Dividends	$34,134	44.0%
Sales of Assets	$0
Other Income	$28,000	36.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$102,104	72.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$906,988
Total Liabilities	$41,625
Net Assets	$865,363

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$89,237

Expenses

$73,193

Net Income

$16,044

Net Assets

$877,970

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$28,125	31.5%
Interest Revenue	$7,693	8.6%
Dividends	$27,625	31.0%
Sales of Assets	$0
Other Income	$28,000	31.4%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$36,508	49.9%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$905,600
Total Liabilities	$27,630
Net Assets	$877,970

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

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Olean Foundation

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $37k (2024)

Expenses $67.9k (2024)

Total Assets $1M (2024)

Total Liabilities $0 (2024)

Tax Filings by Year

Fiscal Year Ending Dec. 2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

Revenue

$37k (2024)

Expenses

$67.9k (2024)

Total Assets

$1M (2024)

Total Liabilities

$0 (2024)

Fiscal Year Ending Dec.
2024

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004

Fiscal Year Ending Dec.
2003

Fiscal Year Ending Dec.
2002

Fiscal Year Ending Dec.
2001