Olean Business Development Corporation
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.
Key facts about Olean Business Development Corporation
In short: Olean Business Development Corporation gave $130K across 2 grants in 2025 (avg $65K), mostly in New York. Source: 2025 IRS Form 990.
- EIN
- 45-5371087
- Latest 990 filing
- Form 990, 2025
- Annual giving (2025)
- $130,000
- Grants made (2025)
- 2
- Average grant
- $65,000
- Median grant
- $65,000
- Total assets
- $2,950,671
- Primary geography
- New York (100% of itemized 2025 grant dollars)
Data from IRS Form 990, 2025; updated September 2026.
Financial Overview
From 2025 IRS Form 990 · View filing
Total Assets
$3.0M
-3.9% YoY
Annual Giving
$130K
+73.0% YoY
Grant Count
2
Avg Grant Size
$65K
About Olean Business Development Corporation
Based on IRS filings
Olean Business Development Corporation is a public charity focused on Community Improvement & Capacity Building, based in Olean, NY. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $3.0M in total assets. In 2025, it awarded 2 grants totaling $130K. Net investment income was $40K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 2 itemized grants.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $24K (2020) to $350K (2022). In 2025 it made 2 grants totaling $130K.
Hatched bars: grants paid as reported on the IRS filing, which lists no individual grants for that year.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 2 recipients in 2025
The largest 2025 recipient was Catt-Allegany WDB ($80K). Together the top 2 received $130K.
Grant Size Distribution
2 grants across all recorded years
The most common grant size was in the $50–100K range: 2 grants of 2 (100%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Catt-Allegany WDB Olean, NY | — | $80,000 |
| St Bonaventure University St Bonaventure, NY | — | $50,000 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $2,950,671 | $3,069,560 | $2,049,315 |
| Revenue | $1,407,964 | $1,752,532 | $925,080 |
| Expenses | $1,003,914 | $919,728 | $834,237 |
| Net Investment Income | $40,239 | $41,691 | $7,775 |
Data update history
When this profile's IRS filing data changed on Grantable
- Added Form 990 for fiscal year 2025 (received by the IRS May 27, 2026)
- Updated Form 990 for fiscal year 2019 (received by the IRS March 20, 2020)
- Updated Form 990 for fiscal year 2020 (received by the IRS May 12, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS April 11, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS April 28, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS May 5, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS May 9, 2025)
Leadership & Key People
Officers and directors from IRS filings
Olean Business Development Corporation is led by Bob Forness, President & CEO since 2025 (on filings since 2021); 1 of 10 officers listed in 2025 is compensated.
Officers on the 2025 filing
Bob Forness
President & CEO
President → Executive Director & President, 2023
Executive Director, President & Executive Director → President & CEO, 2025
On filings since 2021
40 hrs/week
$75K (2022) → $112K (2025)
Michael Fischer
Finance Chair
Treasurer → Finance Chair, 2025
On filings since 2019
1 hr/week
No compensation reported
Steve McClain
Chair
Director → 2nd Vice Chair, 2023
2nd Vice Chair → Chair, 2025
On filings since 2021
1 hr/week
No compensation reported
Brent Driscoll
Director
Secretary → Director, 2022
On filings since 2019
1 hr/week
No compensation reported
Corey Wiktor
Director
On filings since 2019
1 hr/week
No compensation reported
Matrecia James
Director
On filings since 2021
1 hr/week
No compensation reported
Kirk Windus
Director
New on the 2025 filing
1 hr/week
No compensation reported
James E. Stitt
Past Chair
Chair → Past Chair, 2025
On filings since 2019
1 hr/week
No compensation reported
Daniel Demarte
Secretary
On filings since 2024
1 hr/week
No compensation reported
Michael Smith
Vice Chair
1st Vice Chair → Vice Chair, 2025
On filings since 2024
1 hr/week
No compensation reported
Former officers (9)
- Former: Evelyn Sabina (2020–2024) — Secretary
- Former: Jeff Gingrich (2023–2024) — Director
- Former: Dan Derose (2019–2023) — Vice Chair
- Former: Mike Smith (2019–2023) — Vice Chair
- Former: Dan Demarte (2021–2023) — Director
- Former: Janine Fodor (2021–2023) — Director
- Former: Tom Buttafarro (2019–2022) — Director
- Former: Dave Koebelin (2019–2020) — Director
- Former: Lawrence Sorokes (2019–2020) — Director
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $112K, to Bob Forness (President/CEO).
Frequently asked questions about Olean Business Development Corporation
How much does Olean Business Development Corporation give each year?
Olean Business Development Corporation gave $130K across 2 grants in 2025, according to its 2025 IRS Form 990. In 2024 it reported $75K in grants paid.
How large is Olean Business Development Corporation?
Olean Business Development Corporation reported $3.0M in total assets on its 2025 IRS Form 990. Its revenue that year was $1.4M.
What is Olean Business Development Corporation?
Olean Business Development Corporation is a public charity focused on Community Improvement & Capacity Building, based in Olean, NY. It holds $3.0M in total assets as of 2025.
Where does Olean Business Development Corporation operate?
Olean Business Development Corporation has awarded grants in New York.
What is Olean Business Development Corporation's EIN?
Olean Business Development Corporation's EIN (Employer Identification Number) is 45-5371087. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Here's the math on researching Olean Business Development Corporation by hand.
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