2024-10-10T08:39:58-05:00 2023-12-31 221478099 COHNREZNICK LLP 2401 NW BOCA RATON BLVD BOCA RATON FL 334316632 990 2023-01-01 270843891 RECEPTIONS FOR RESEARCH THE GREG OLSEN FOUNDATION RECE 4074014534 200 E LAS OLAS BLVD STE 1550 FT LAUDERDALE FL 33301 GREG OLSEN FOUNDER 4074014534 2024-10-03 1 0 ARTHUR J HURLEY P00440692 5613671040 2023 2024-10-15 13:58:12Z GREG OLSEN 200 E LAS OLAS BLVD STE 1550 FORT LAUDERDALE FL 33301 1980798 0 X RECEPTIONSFORRESEARCH.ORG X 2009 FL PROVIDE THE RESOURCES NECESSARY TO ENHANCE THE LIVES OF THOSE AFFECTED WITH DEBILITATING DISEASES. 10 9 2 50 14156 0 1081100 1786138 0 0 0 15775 147790 -341216 1228890 1460697 330000 2447220 0 0 132603 155962 0 0 3562 106817 132167 569420 2735349 659470 -1274652 536599 801488 621445 2160986 -84846 -1359498 X THE GREG OLSEN FOUNDATION WAS ESTABLISHED IN 2009 TO PROVIDE HOSPITALS, DOCTORS AND SCHOLARS THE RESOURCES NECESSARY TO ENHANCE THE LIVES OF THOSE AFFECTED BY VARIOUS FORMS OF CANCER AND CARDIOVASCULAR DISEASES OR DISORDERS. WE PARTNER WITH LOCAL AND NATIONAL ORGANIZATIONS IN OUR PURSUIT TO DISCOVER A CURE FOR THESE DEBILITATING DISEASES. IT'S OUR GOAL TO MAKE SURE EVERYONE HAS A SECOND CHANCE IN LIFE. 0 0 10690 10000 BONE MARROW TRANSPLANT PROCESS AFFECTS A PERSON'S LIFE. CLAIRE WILL BE AN INPATIENT FOR A MONTH AT THE FRED HUTCHINSON CANCER CENTER AND THE UNIVERSITY OF WASHINGTON MEDICAL CENTER, AND THEN, SHE'LL HAVE THREE MORE MONTHS OF OUTPATIENT CARE IN WHICH SHE WILL ESSENTIALLY BE QUARANTINED. THE REASON FOR THIS IS THAT WHEN YOU DESTROY A PERSON'S EXISTING BONE MARROW WITH CHEMOTHERAPY, AND THEN INJECT NEW BONE MARROW, THAT PERSON WILL BE SEVERELY IMMUNO-COMPROMISED FOR MONTHS. 320699 300000 THE MEDICAL UNIVERSITY OF SOUTH CAROLINA (MUSC) FOUNDATION WAS CHARTERED IN 1966 AS A CHARITABLE, EDUCATIONAL FOUNDATION TO SUPPORT THE EDUCATION, RESEARCH, PATIENT CARE AND OTHER PROGRAMS AT THE MEDICAL UNIVERSITY. THE FOUNDATION IS A 501(C)(3) TAX-EXEMPT ORGANIZATION, CONTRIBUTIONS TO WHICH ARE TAX-DEDUCTIBLE.SINCE ITS BEGINNING, THE MUSC FOUNDATION HAS ENCOURAGED SUCH WORTHWHILE ACADEMIC ENTERPRISES AS ENDOWED PROFESSORSHIPS, SCHOLARSHIPS, THE ACQUISITION AND DEVELOPMENT OF CAMPUS FACILITIES TO SERVE STUDENT, TEACHING, RESEARCH OR CLINICAL NEEDS, AND AWARDS IN HONOR OF ACADEMIC EXCELLENCE. IN ADDITION, IT HAS ENCOURAGED ACHIEVEMENTS IN BIOMEDICAL RESEARCH. 2284685 2137220 IN MAY 2019, THE FOUNDATION EXECUTED A GIFT & NAMING RIGHTS AGREEMENTWITH ATRIUM HEALTH, WHERE THE FOUNDATION PLEDGED $2,500,000 INYEARLY INSTALLMENTS OF $500,000, WITH PAYMENTS COMMENCING IN 2019. THE PLEDGEWAS FULLY PAID OFF IN 2023. IN JULY 2023, THE FOUNDATION EXECUTED A PLEDGE COMMITMENT AGREEMENT WITH ANOTHER ORGANIZATION, WHERE THE FOUNDATION PLEDGED $2,500,000 IN YEARLY INSTALLMENTS OF $500,000, WITH PAYMENTS COMMENCING IN 2024. 2616074 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 2 0 0 0 0 0 0 0 0 0 0 0 X 10 9 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 0 0 0 FL NC X X THE ORGANIZATION 4074014534 200 E LAS OLAS BLVD STE 1550 FT LAUDERDALE FL 33301 GREGORY W OLSEN FOUNDER/CHAIRMAN 10.00 X X 0 0 0 KARA OLSEN C-FOUNDER 5.00 X X 0 0 0 SUSAN OLSEN DIRECTOR OF COMMUNITY OUTR 5.00 X 0 0 0 DEBORAH DOOLEY CONTROLLER 10.00 X 12000 0 0 KRISTEN MCCULLOUGH DIRECTOR OF COMMUNICATIONS 5.00 X 0 0 0 DONALD ROBBINS BOARD MEMBER 5.00 X 0 0 0 AMY LEVINE DAWSON BOARD MEMBER 5.00 X 0 0 0 DOUG PORTER BOARD MEMBER 5.00 X 0 0 0 JOSE ARMARIO BOARD MEMBER 5.00 X 0 0 0 MOLLY ANSBRO EXECUTIVE DIRECTOR 40.00 X 120565 0 0 WILLIAM CULP BOARD MEMBER 5.00 X 0 0 0 132565 0 0 1 0 0 0 0 959610 826528 1786138 14156 14156 1619 0 1619 1619 1619 165520 959610 507412 -341892 -341892 13365 12689 676 676 1460697 2295 14156 -341892 2447220 2447220 155962 152842 1560 1560 26851 26851 316 316 25347 25347 7745 7745 20016 16012 2002 2002 4290 4290 RENT 38618 38618 BANK AND OTHER FEES 8091 8091 LICENSES 893 893 2735349 2616074 115713 3562 147992 680251 29872 302000 20000 27545 39578 59062 31787 536599 801488 72250 549195 2160986 621445 2160986 X -84846 -1359498 -84846 -1359498 536599 801488 -1274652 0 X 0 0 0 X 654258 553897 573684 1081099 1786138 4649076 654258 553897 573684 1081099 1786138 4649076 300966 405000 293779 331000 718800 2049545 0 300966 405000 293779 331000 718800 2049545 2599531 654258 553897 573684 1081099 1786138 4649076 0.55920 0.55830 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 UNCONDITIONAL PROMISES TO GIVE 500000 OPERATING LEASE LIABILITY, CURRENT PORTION 26486 UNCONDITIONAL PROMISE TO GIVE, LESS CURRENT PORTION 1634500 2160986 X PART X, LINE 2: THE FOUNDATION HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICES ("IRS") AS AN ORGANIZATION THAT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE ("IRC") SECTION 501(C)(3) AND IS FURTHER CLASSIFIED AS A PUBLIC CHARITY UNDER IRC SECTION 509(A)(2). NO PROVISION HAS BEEN MADE FOR INCOME TAXES IN THE FINANCIAL STATEMENTS. FURTHERMORE, THE FOUNDATION BELIEVES THAT IS HAS APPROPRIATE SUPPORT FOR ANY TAX POSITION TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS. GENERALLY, THE FOUNDATION IS NO LONGER SUBJECT TO U.S. FEDERAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR THREE (3) YEARS FROM THE DATE OF FILING. X 0 GOLF TOURNAMENT 556288 463888 92400 11881 22850 343574 STEAK 48 UNGALA 238363 215363 23000 2802 12000 32245 4 330479 280359 50120 1750 6759 21600 1740 50211 1125130 959610 165520 13631 9561 33600 24590 426030 507412 -341892 0 THE MEDICAL UNIVERSITY OF SOUTH CAROLINA (MUSC) FOUNDATION 300000 0 CANCER & MEDICAL RESEARCH ATRIUM HEALTH 2137220 0 CANCER & MEDICAL RESEARCH CLAIRE'S BONE MARROW 10000 0 MEDICAL CARE AND RECOVERY FORM 990, LINE 13 IN MAY 2019, THE FOUNDATION EXECUTED A GIFT & NAMING RIGHTS AGREEMENT WITH ATRIUM HEALTH, WHERE THE FOUNDATION PLEDGED $2,500,000 IN YEARLY INSTALLMENTS OF $500,000, WITH PAYMENTS COMMENCING IN 2019. THE PLEDGE WAS FULLY PAID OFF IN 2023. IN JULY 2023, THE FOUNDATION EXECUTED A PLEDGE COMMITMENT AGREEMENT WITH ANOTHER ORGANIZATION, WHERE THE FOUNDATION PLEDGED $2,500,000 IN YEARLY INSTALLMENTS OF $500,000, WITH PAYMENTS COMMENCING IN 2024. IN 2023, THE $490,000 WAS PAID IN ADDITION TO THE $310,000 GRANTS MADE TO OTHER ORGANIZATIONS. THEREFORE, THE TOTAL CASH BASIS GRANTS AND SIMILAR AMOUNTS PAID WERE $800,000. FORM 990, PART VI, SECTION A, LINE 2 KARA OLSEN, BOARD CHAIR (WIFE TO FOUNDER); SUE OLSEN, DIRECTOR (MOTHER TO FOUNDER, MOTHER TO EXECUTIVE DIRECTOR); KRISTEN MCCOLLOUGH, DIRECTOR OF COMMUNICATIONS (FOUNDER'S SISTER IN-LAW). FORM 990, PART VI, SECTION B, LINE 11B DISTRIBUTED TO BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ORGANIZATION REQUIRES THAT POTENTIAL CONFLICTS OF INTEREST BE DISCLOSED ANNUALLY AND ON AN ONGOING BASIS. FORM 990, PART VI, SECTION C, LINE 19 ANY REQUEST FOR THE DOCUMENTS WILL BE HONORED.