Olean Foundation Inc
Olean Foundation Inc is a private foundation, based in Westerly, RI. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $1.0M in total assets. In 2025, it awarded 1 grant totaling $52K. Net investment income was $30K.
Olean Foundation Inc at a glance
In short: Olean Foundation Inc gave $52K across 1 grant in 2025 (avg $52K), mostly in Rhode Island. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $52,460
- -2.8% vs 2024
- Grants made (2025)
- 1
- +0.0% vs 2024
- Average grant
- $52,460
- -2.8% vs 2024
- Median grant
- $52,460
- Total assets
- $1,006,789
- +0.6% vs 2024
- Primary geography
- Rhode Island (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who Olean Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top recipient in 2025
The largest 2025 recipient was Frank Olean Center Inc ($52K).
Grant Size Distribution
7 grants across all recorded years
The most common grant size was under $50K: 5 grants of 7 (71%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2025 grant dollars on its one itemized grant.
States
Cities
How Olean Foundation Inc gives
- Giving grew 85% from 2022 to 2025. Method
- In 2025 it paid out 111% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $28K (2022) to $54K (2024). In 2025 it made 1 grant totaling $52K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Frank Olean Center Inc Westerly, RI | Consumer Needs, Activities, Programs | $52,460 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $1,006,789 | $42,659 | $67,465 | $52,460 | 1 | $55,035 | $30,229 | $49,698 |
| 2024 | $1,000,868 | $36,972 | $67,857 | $53,950 | 1 | $56,292 | $25,407 | $47,113 |
| 2023 | $907,722 | $53,363 | $60,221 | $46,990 | 1 | $49,192 | $42,379 | $42,789 |
| 2022 | $858,328 | $125,358 | $43,189 | $28,400 | 1 | $30,477 | $112,646 | $45,075 |
| 2021 | $1,091,421 | $49,360 | $56,000 | $42,340 | 3 | $44,372 | $37,732 | $50,421 |
| 2020 | $934,473 | $26,746 | $56,996 | $45,367 | 2 | — | $14,492 | $46,925 |
| 2019 | $957,994 | $88,909 | $66,335 | $30,328 | 1 | — | $32,411 | $36,935 |
Under IRS private-foundation payout rules, Olean Foundation Inc reported a distributable amount of $50K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Olean Foundation Inc is led by Bruce Olean, President on every filing since 2019; none of the 7 officers listed in 2025 report compensation.
Officers on the 2025 filing
Bruce Olean
President
On filings since 2019
2 hrs/week
No compensation reported
Margaret Steele
Director
On filings since 2019
2 hrs/week
No compensation reported
Raymond Walsh
Finance Director
On filings since 2022
2 hrs/week
No compensation reported
Joan Gradilone
Director
On filings since 2024
2 hrs/week
No compensation reported
Ralph Abruzzese
Vice President
On filings since 2019
2 hrs/week
No compensation reported
Ruth Tureckova
Executive Di
On filings since 2020
2 hrs/week
No compensation reported
Robert Hoffman
Treasurer
New on the 2025 filing
2 hrs/week
No compensation reported
Former officers (5)
- Former: Rboert Hoffman (2024) — Treasurer
- Former: Bob Hoffman (2019–2023) — Treasurer
- Former: Dick Mansfield (2019–2022) — Director
- Former: Michele Walsh (2020–2021) — Finance Director
- Former: Anthony Velucci (2019) — Executive Di
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.
Frequently asked questions about Olean Foundation Inc
How much does Olean Foundation Inc give each year?
Olean Foundation Inc gave $52K across 1 grant in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $54K across 1 grant.
How large is Olean Foundation Inc?
Olean Foundation Inc reported $1.0M in total assets on its 2025 IRS Form 990-PF. It paid out $55K in qualifying distributions that year, against a required minimum of $50K (roughly 5% of its investment assets).
Where does Olean Foundation Inc operate?
Olean Foundation Inc has awarded grants in Connecticut, Rhode Island.
What is Olean Foundation Inc's EIN?
Olean Foundation Inc's EIN (Employer Identification Number) is 22-2496957. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(3)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2019 (received by the IRS August 11, 2020)
- Added Form 990-PF for fiscal year 2025 (received by the IRS August 4, 2026)
- IRS filings on file for fiscal years 2020–2024
Live grants for the work Olean Foundation Inc funds
Philanthropy, Voluntarism & Grantmaking Open opportunities, soonest deadline first.
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Browse active grant opportunities in Olean Foundation Inc's focus areas in our free grants database
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