Nonprofit · EIN 45-5371087
OLEAN BUSINESS DEVELOPMENT CORPORATION
Tax-exempt · OLEAN, NY 14760
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 (amended) | $1,407,964 | $1,003,914 | $404,050 | $2,950,671 | $496,131 | $2,454,540 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $1,214,054
- Program service revenue
- $21,178
- Investment income
- $40,239
- Net rental income
- $130,399
- Other revenue
- $132,493
Expenses
- Grants and similar amounts paid
- $198,796
- Compensation of officers, directors and key employees
- $114,893
- Other salaries and wages
- $272,399
- Salaries, compensation and benefits (total)
- $387,292
- Professional fundraising fees
- $0
- Accounting fees
- $36,782
- Occupancy
- $54,510
- Depreciation
- $62,715
- Program services (functional)
- $822,846
- Management and general (functional)
- $181,068
Balance sheet and other
- Total assets, start of year
- $2,894,560
- Total assets, end of year
- $2,950,671
- Total liabilities, end of year
- $496,131
- Net assets, end of year
- $2,454,540
- Land, buildings and equipment
- $1,450,948
- Publicly traded securities
- $804,723
- Net assets without donor restrictions
- $2,454,540
- Gross receipts
- $1,407,964
- Employees
- 8
- Year formed
- 2013
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BOB FORNESS | PRESIDENT/CEO | 40 | $112,219 | $2,674 |
| MICHAEL FISCHER | Finance Chair Trustee or director, Officer | 1 | $0 | $0 |
| MICHAEL SMITH | Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| DANIEL DEMARTE | Secretary Trustee or director | 1 | $0 | $0 |
| BRENT DRISCOLL | Director Trustee or director | 1 | $0 | $0 |
| COREY WIKTOR | Director Trustee or director | 1 | $0 | $0 |
| KIRK WINDUS | Director Trustee or director | 1 | $0 | $0 |
| MATRECIA JAMES | Director Trustee or director | 1 | $0 | $0 |
| JAMES E STITT | Past Chair Trustee or director, Officer | 1 | $0 | $0 |
| STEVE MCCLAIN | Chair Trustee or director, Officer | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 301 NORTH UNION STREET, OLEAN, NY 14760-2635
- In care of
- % FAMILY PARTNERS GROUP
- Signed the 990
- ROBERT FORNESS, President
- Phone
- (716) 701-4009
- Return prepared by
- BYSIEK CPA PLLC
Mission
To benefit youth through mentoring and skills development; to benefit families by creating a connection to community leaders, resources, and service opportunities; to benefit small businesses by providing training, coaching, resource connections, networking, and collaboration; and to benefit the community by retention of youth, supporting the development of a better prepared labor force, encouraging stronger businesses, and improving regional economic conditions.
Program accomplishments
- To benefit youth through mentoring and skills development; to benefit families by creating a connection to community leaders, resources, and service opportunities; to benefit small businesses by providing training, coaching, resource connections, networking, and collaboration; and to benefit the community by retention of youth, supporting the development of a better prepared labor force, encouraging stronger businesses, and improving regional economic conditions.Expenses $822,846 · grants $198,796 · revenue $1,407,964
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 45-5371087
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2013
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S20)
- Assets (IRS master file)
- $2,950,671
- Income (IRS master file)
- $1,407,964
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | – | – | – | IRS |
| 990 | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $925,080 | $834,237 | $2,049,315 | IRS |
| 990 | December 2022 | $709,773 | $815,835 | $1,903,210 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.
Questions about OLEAN BUSINESS DEVELOPMENT CORPORATION
- What is the EIN of OLEAN BUSINESS DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of OLEAN BUSINESS DEVELOPMENT CORPORATION is 45-5371087.
- Is OLEAN BUSINESS DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2013.
- Are donations to OLEAN BUSINESS DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does OLEAN BUSINESS DEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of OLEAN BUSINESS DEVELOPMENT CORPORATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did OLEAN BUSINESS DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who are the officers and directors of OLEAN BUSINESS DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2025 lists 10 people; 1 received compensation from the organization, the highest $112,219 (BOB FORNESS, PRESIDENT/CEO).
- How much revenue does OLEAN BUSINESS DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $1,407,964, expenses of $1,003,914 and total assets of $2,950,671 at year end.
Other nonprofits in OLEAN
- RURAL REVITILIZATION CORPORATION EIN 11-2616152 · last filed 990 for 2026
- CATTARAUGUS COUNTY BUSINESS DEVELOPMENT CORPORATION EIN 16-1460592 · last filed 990-N for 2025
- OLEAN GENERAL HOSPITAL EIN 16-0743102 · last filed 990 for 2024
- CATTARAUGUS COUNTY REHABILITATION CENTER INC EIN 16-1291766 · last filed 990 for 2024
- SOUTHERN TIER COMMUNITY HEALTH CENTER NETWORK INC EIN 20-0013066 · last filed 990 for 2025
- YOUNG MENS CHRISTIAN ASSOCIATION OF OLEAN NY AND BRADFORD PA EIN 16-0743241 · last filed 990 for 2025
- OLEAN GENERAL HOSPITAL FOUNDATION EIN 16-1497087 · last filed 990 for 2024
- GREATER OLEAN COMMUNITY FOUNDATION EIN 16-1468127 · last filed 990 for 2025
All nonprofits in OLEAN · New York · Community improvement and capacity building