Frank Olean Center Inc
- Assets
- $2.0m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 99
- Location
- Westerly, RI
- Founding
- 03/1966
- Data as of
- 12/2023
- EIN
- 05-0311198
Organization Overview
Frank Olean Center Inc is located in Westerly, RI. The organization was established in 1966. According to its NTEE Classification (P82) the organization is classified as: Developmentally Disabled Centers, under the broad grouping of Human Services and related organizations. As of 12/2023, Frank Olean Center Inc employed 99 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Frank Olean Center Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Frank Olean Center Inc generated $2.6m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $2.5m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (3.1%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SERVICES AND SUPPORT TO PEOPLE WITH DEVELOPMENTAL DISABILITIES IN ORDER TO ACHIEVE THEIR DESIRED LEVEL OF INTEGRATION, INDEPENDENCE & PRODUCTIVITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADULT COMMUNITY SUPPORTS-TO PROVIDE SERVICES TO PARTICIPANTS WITH DEVELOPMENTAL DISABILITIES.
ADULT SHARED LIVING ARRANGEMENTS-TO PROVIDE SHARED LIVING ARRANGEMENT SERVICES AND COMMUNITY SUPPORTS TO PARTICIPANTS.
CHILDREN SERVICES-TO PROVIDE SERVICES TO CHILD PARTICIPANTS WITH DEVELOPMENTAL DISABILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ruth Tureckova Executive Di | Trustee | 40 | $91,750 |
Denise Bergeron Board Member | Trustee | 2 | $0 |
David Kmetz Treasurer | OfficerTrustee | 2 | $0 |
Kevin Liguori Board Member | Trustee | 2 | $0 |
Bethany Lyons President | OfficerTrustee | 2 | $0 |
Evie Martin Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,262,563 |
| All other contributions, gifts, grants, and similar amounts not included above | $271,270 |
| Noncash contributions included in lines 1a–1f | $108,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,533,833 |
| Total Program Service Revenue | $0 |
| Investment income | $59,105 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $9,051 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $9,232 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,611,221 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $91,750 |
| Compensation of current officers, directors, key employees. | $91,750 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,521,744 |
| Pension plan accruals and contributions | $15,733 |
| Other employee benefits | $274,668 |
| Payroll taxes | $129,983 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,625 |
| Fees for services: Accounting | $40,318 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $97,398 |
| Advertising and promotion | $11,463 |
| Office expenses | $27,181 |
| Information technology | $17,425 |
| Royalties | $0 |
| Occupancy | $32,720 |
| Travel | $7,067 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $357 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,642 |
| Insurance | $39,448 |
| All other expenses | $39,960 |
| Total functional expenses | $2,519,618 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,057 |
| Savings and temporary cash investments | $1,795,896 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $206,188 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $8,221 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,013,362 |
| Accounts payable and accrued expenses | $156,108 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $383,956 |
| Total liabilities | $540,064 |
| Net assets without donor restrictions | $1,300,237 |
| Net assets with donor restrictions | $173,061 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,013,362 |