Olean Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in WESTERLY, RI. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $1.0M in total assets. In 2024, it awarded 1 grants totaling $54K. Net investment income was $25K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$1.0M
+10.3% YoY
Annual Giving
$54K
+14.8% YoY
Grant Count
1
+0.0% YoY
Avg Grant Size
$54K
+14.8% YoY
Under IRS private-foundation payout rules, Olean Foundation Inc reported a distributable amount of $47K for 2024 — the minimum it must pay out in qualifying distributions.
About Olean Foundation Inc
Based on IRS filings
Olean Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in WESTERLY, RI. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $1.0M in total assets. In 2024, it awarded 1 grants totaling $54K. Net investment income was $25K.
Focus Areas
Ready to take the next step with Olean Foundation Inc?
Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $1,000,868 | $907,722 | $858,328 |
| Revenue | $36,972 | $53,363 | $125,358 |
| Expenses | $67,857 | $60,221 | $43,189 |
| Qualifying Distributions | $56,292 | $49,192 | $30,477 |
| Net Investment Income | $25,407 | $42,379 | $112,646 |
| Distributable Amount | $47,113 | $42,789 | $45,075 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 1 recipients in 2024
Grant Size Distribution
8 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Frank Olean Center Inc ($53,950).
| Recipient | Purpose | Amount |
|---|---|---|
| FRANK OLEAN CENTER INC WESTERLY, RI | CONSUMER NEEDS, ACTIVITIES, PROGRAMS | $53,950 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| BRUCE OLEAN | PRESIDENT | 2 | — |
| RALPH ABRUZZESE | VICE PRESIDE | 2 | — |
| MARGARET STEELE | DIRECTOR | 2 | — |
| RBOERT HOFFMAN | TREASURER | 2 | — |
| RAYMOND WALSH | FINANCE DIRE | 2 | — |
| JOAN GRADILONE | DIRECTOR | 2 | — |
| RUTH TURECKOVA | EXECUTIVE DI | 2 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Olean Foundation Inc?
Olean Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in WESTERLY, RI. It holds $1.0M in total assets as of 2024.
How large is Olean Foundation Inc?
As of 2024, Olean Foundation Inc holds $1.0M in total assets with $37K in annual revenue. It awarded 1 grants totaling $54K in 2024.
Where does Olean Foundation Inc operate?
Olean Foundation Inc has awarded grants in Connecticut, Rhode Island.
What size grants does Olean Foundation Inc award?
In 2024, Olean Foundation Inc awarded 1 grants totaling $54K — an average of about $54K per grant, based on its IRS Form 990 filings.
How much is Olean Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Olean Foundation Inc reported a distributable amount of $47K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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 2020–2024.
Explore Open Grants
Browse active grant opportunities in Olean Foundation Inc's focus areas in our free grants database
Related Funders
Similar funders by location and focus area
UNFI Foundation
PROVIDENCE, RI
Assets
—
Grants
64
Total Given
$1.6M
Woonsocket Rotary Charities
WOONSOCKET, RI
Assets
$218K
Grants
8
Total Given
$15K
Adrian M and Doris K Pearsall Family
NEWPORT, RI
Assets
$425K
Grants
20
Total Given
$50K
The Collis Foundation
PROVIDENCE, RI
Assets
$86.7M
Grants
22
Total Given
$2.5M
Felicia Fund Inc
PROVIDENCE, RI
Assets
$8.7M
Grants
34
Total Given
$646K
The De Ramel Foundation
NEWPORT, RI
Assets
$12.2M
Grants
32
Total Given
$616K
Data last updated April 2026. Sourced from IRS Form 990-PF filings.
What could you do with Olean Foundation Inc on Grantable?
- Assess strategic fit with your organization
- Draft a tailored letter of inquiry
- Find open RFPs from this funder
- Monitor for new funding opportunities
Go from researching Olean Foundation Inc to a real strategy.