Greater Olean Inc
- Assets
- $1.1m
- Revenue
- $524.9k
- Investments
- $0.0
- Employees
- 6
- Location
- Olean, NY
- Founding
- 09/1994
- Data as of
- 12/2021
- EIN
- 16-1450163
Organization Overview
Greater Olean Inc is located in Olean, NY. The organization was established in 1994. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Greater Olean Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Olean Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Greater Olean Inc generated $524.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $594.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.2%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE COMMUNITY/ECONOMIC DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC DEVELOPMENT - PROMOTE ECONOMIC DEVELOPMENT AMONG NEW AND EXISTING BUSINESSES. INCLUDES PROVIDING SUPPORT FOR THE OPERATION OF ECONOMIC DEVELOPMENT ZONE.
TANF SERVICES - UNDER CONTRACT WITH CATTARAUGUS COUNTY, AN ON-THE-JOB TRAINING PROGRAM IS OPERATED TO INCREASE THE SKILLS OF AREA RESIDENTS.
PROMOTION & MARKETING - THROUGH SPECIAL EVENTS AND ADVERTISING CAMPAIGNS, PURSUE ECONOMIC DEVELOPMENT AND REVITILIZATION IN THE OLEAN AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Meme Yanetsko COO | Officer | 35 | $62,976 |
Richard Yaeger Treasurer | OfficerTrustee | 1 | $0 |
Jason Crisafulli President | OfficerTrustee | 1 | $0 |
Adam Jester Vice President | OfficerTrustee | 1 | $0 |
Shavonne Henderson Secretary | OfficerTrustee | 1 | $0 |
Tyronne Hall Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $105,520 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $105,520 |
| Total Program Service Revenue | $403,644 |
| Investment income | $2,478 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $13,287 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $524,929 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $794 |
| 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. | $70,776 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $129,911 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $3,447 |
| Other employee benefits | $7,735 |
| Payroll taxes | $17,663 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,312 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $81,496 |
| Office expenses | $38,317 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $32,858 |
| Travel | $201 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $398 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,549 |
| Insurance | $4,067 |
| All other expenses | $0 |
| Total functional expenses | $594,030 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $194,544 |
| Savings and temporary cash investments | $756,550 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $87,640 |
| 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 | $11,743 |
| Net Land, buildings, and equipment | $13,145 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,536 |
| Total assets | $1,067,158 |
| Accounts payable and accrued expenses | $559,194 |
| Grants payable | $0 |
| Deferred revenue | $53,594 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $762,788 |
| Net assets without donor restrictions | $304,370 |
| Net assets with donor restrictions | $0 |
| 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 | $1,067,158 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greater Olean Inc has recieved totaling $10,845.
| Awarding Organization | Amount |
|---|---|
Greater Olean Community Foundation Olean, NY PURPOSE: GENERAL SUPPORT | $10,845 |
Peer Organizations
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|---|---|---|
Nysa-Ila Container Royalty Fund Jersey City, NJ | $55,480,172 | $104,394,382 |
Unsatisfied Claims & Judgement Fund Basking Ridge, NJ | $69,007,782 | $67,404,449 |
Gs1 Us Inc Ewing, NJ | $478,037,755 | $93,863,501 |
International Swaps And Derivatives Association Inc New York, NY | $118,665,756 | $65,806,525 |
Association Of National Advertisers Inc New York, NY | $38,717,598 | $50,547,394 |
Global Associations Of Risk Proffesionals Inc Jersey City, NJ | $66,882,119 | $55,059,565 |
Ll Global Inc Of Connecticut Windsor, CT | $82,107,687 | $49,999,799 |
Natural Diamond Council Usa Inc New York, NY | $2,361,726 | $45,450,043 |
Better Health For Northeast New York Inc Albany, NY | $1,699,036 | $0 |
Hamaspik Of Orange County Inc Monroe, NY | $56,250,916 | $69,931,985 |
International Council Of Shopping Centers Inc New York, NY | $167,282,013 | $15,292,706 |
Housing Works Inc Brooklyn, NY | $30,231,683 | $31,989,444 |