Frank Olean Center Inc

Analysis

Frank Olean Center Inc is a registered charity in United States, based in Westerly, RI. It received its IRS tax-exemption ruling in March 1966, 60 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Frank Olean Center Inc reported income of $2.6m and spending of $2.5m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.9m to $2.6m (-11%), an average of -2.9% a year. The sharpest change came in the year to December 2022, when income rose by 33%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Frank Olean Center Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 84th percentile within RI. Charities of a similar size with the same main cause include Sunshine School Inc ($2.6m), Equest ($2.6m) and The Doni Martin Center for Developmental Services Inc ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $92k (3.6% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $2.0m against liabilities of $540k, net assets of $1.5m. It reported 99 employees.