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 |
| December 31, 2024 | 990 | $1,752,532 | $919,728 | $832,804 | $3,069,560 | $844,070 | $2,225,490 |
| December 31, 2023 | 990 | $925,080 | $834,237 | $90,843 | $2,049,315 | $656,629 | $1,392,686 |
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 |
990 for the year ended December 31, 2024: 12 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BOB FORNESS | EXECUTIVE DIRECTOR | 40 | $75,433 |
| MICHAEL FISCHER | Treasurer Trustee or director, Officer | 1 | $0 |
| MICHAEL SMITH | 1st Vice Chair Trustee or director, Officer | 1 | $0 |
| DANIEL DEMARTE | Secretary Trustee or director | 1 | $0 |
| BRENT DRISCOLL | Director Trustee or director | 1 | $0 |
| COREY WIKTOR | Director Trustee or director | 1 | $0 |
| EVELYN SABINA | Secretary Trustee or director, Officer | 1 | $0 |
| BOB FORNESS | President/E.D. Trustee or director, Officer | 40 | $0 |
| MATRECIA JAMES | Director Trustee or director | 1 | $0 |
| JEFF GINGRICH | Director Trustee or director | 1 | $0 |
| JAMES E STITT | Chair Trustee or director, Officer | 1 | $0 |
| STEVE MCCLAIN | 2nd Vice Chair Trustee or director, Officer | 1 | $0 |
990 for the year ended December 31, 2023: 14 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BOB FORNESS | EXECUTIVE DIRECTOR | 40 | $75,000 |
| DR MICHAEL FISCHER | Treasurer Trustee or director, Officer | 1 | $0 |
| MIKE SMITH | Vice Chair Trustee or director, Officer | 1 | $0 |
| DAN DEMARTE | Director Trustee or director | 1 | $0 |
| BRENT DRISCOLL | Director Trustee or director | 1 | $0 |
| COREY WIKTOR | Director Trustee or director | 1 | $0 |
| EVELYN SABINA | Secretary Trustee or director, Officer | 1 | $0 |
| BOB FORNESS | President Trustee or director, Officer | 40 | $0 |
| DR MATRECIA JAMES | Director Trustee or director | 1 | $0 |
| JANINE FODOR | Director Trustee or director | 1 | $0 |
| DR JEFF GINGRICH | Director Trustee or director | 1 | $0 |
| JAMES E STITT | Chair Trustee or director, Officer | 1 | $0 |
| DAN DEROSE | Vice Chair Trustee or director, Officer | 1 | $0 |
| STEVE MCCLAIN | 2nd Vice Chair Trustee or director, Officer | 1 | $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
- Website
- oleanbd.com
- 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 | $1,407,964 | $1,003,914 | $2,950,671 | XML |
| 990 | December 2024 | $1,752,532 | $919,728 | $3,069,560 | IRS |
| 990 | December 2023 | $925,080 | $834,237 | $2,049,315 | XML |
| 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 bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 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 (search EIN 45-5371087).
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.
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- 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
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All nonprofits in OLEAN · New York · Community improvement and capacity building