Form 990 for tax year 2024
Filed by RECEPTIONS FOR RESEARCH - THE GREG OLSEN FOUNDATION INC.
Totals
- Total revenue
- $1,345,731
- Total expenses
- $2,180,403
- Contributions and grants received
- $1,770,245
- Grants paid
- $1,896,772
- Program service revenue
- $0
- Investment income
- $26,699
- Other revenue
- -$451,213
- Total assets, end of year
- $986,165
- Total liabilities, end of year
- $3,180,335
- Net assets or fund balances, end of year
- -$2,194,170
- Program services expenses (Part IX)
- $2,060,156
- Management and general expenses
- $118,375
- Fundraising expenses
- $1,872
- Program service expenses (Part III)
- $2,060,156
Program services were 94.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1c · Fundraising events
$1,257,282
-
1f · All other contributions, gifts and grants
$512,963
-
3 · Investment income
total $27,012 · unrelated business $27,012
-
7b · Less cost or other basis and sales expenses
securities $313
-
7c · Gain or loss
securities -$313
-
7d · Net gain or loss
total -$313 · related or exempt -$313
-
8a · Fundraising events: gross income
$163,283
-
8a · Fundraising events: contributions included on line 1c
$1,257,282
-
8b · Fundraising events: direct expenses
$580,630
-
8c · Net income from fundraising events
total -$417,347 · excluded -$417,347
-
10b · Cost of goods sold
$33,866
-
10c · Net income from sales of inventory
total -$33,866 · related or exempt -$33,866
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,896,772 · program services $1,896,772
-
5 · Compensation of officers, directors and key employees
total $164,897 · program services $161,599 · management and general $1,649 · fundraising $1,649
-
11c · Fees: accounting
total $34,425 · management and general $34,425
-
11f · Fees: investment management
total $332 · management and general $332
-
12 · Advertising and promotion
total $16,701 · management and general $16,701
-
13 · Office expenses
total $7,488 · management and general $7,488
-
14 · Information technology
total $2,231 · program services $1,785 · management and general $223 · fundraising $223
-
23 · Insurance
total $4,702 · management and general $4,702
-
24a · Other expenses: RENT
total $41,118 · management and general $41,118
-
24b · Other expenses: BANK FEES
total $10,179 · management and general $10,179
-
24c · Other expenses: LICENSES
total $1,558 · management and general $1,558
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $680,251 · end of year $682,102
-
2 · Savings and temporary cash investments
beginning of year $29,872 · end of year $190,217
-
3 · Pledges and grants receivable
beginning of year $20,000 · end of year $19,600
-
8 · Inventories for sale or use
beginning of year $39,578 · end of year $19,926
-
15 · Other assets
beginning of year $31,787 · end of year $74,320
-
25 · Other liabilities
beginning of year $2,160,986 · end of year $3,180,335
-
27 · Net assets without donor restrictions
beginning of year -$1,359,498 · end of year -$2,194,170
Mission and programs · 2024
Mission
THE GREG OLSEN FOUNDATION WAS ESTABLISHED IN 2009 TO PROVIDE HOSPITALS, DOCTORS AND SCHOLARS THE RESOURCES NECESSARY TO ENHANCE THE LIVES OF THOSE AFFECTED BY VARIOUS FORMS OF CANCER AND CARDIOVASCULAR DISEASES OR DISORDERS. WE PARTNER WITH LOCAL AND NATIONAL ORGANIZATIONS IN OUR PURSUIT TO DISCOVER A CURE FOR THESE DEBILITATING DISEASES. IT IS OUR GOAL TO MAKE SURE EVERYONE HAS A SECOND CHANCE IN LIFE.
Activities or mission (Part I)
PROVIDE THE RESOURCES NECESSARY TO ENHANCE THE LIVES OF THOSE AFFECTED WITH DEBILITATING DISEASES.
-
RONALD MCDONALD HOUSE PROVIDES ESSENTIAL SERVICES THAT REMOVE BARRIERS, STRENGTHEN FAMILIES AND PROMOTE HEALING WHEN CHILDREN NEED HEALTHCARE.
Expenses $24,441 · Grants $22,500
-
IN JULY 2023, THE FOUNDATION EXECUTED A PLEDGE COMMITMENT AGREEMENT WITH ATRIUM HEALTH TO SUPPORT THE CONTINUED DEVELOPMENT OF THE HEARTEST YARD CONGENITAL HEART CENTER. THE FOUNDATION PLEDGED $2,500,000 IN YEARLY INSTALLMENTS OF $500,000, WITH PAYMENTS COMMENCING IN 2024.THE GRANT WILL SUPPORT THE CENTER'S SPECIALIZED CARE PROGRAMS, SUCH AS THE NEURODEVELOPMENTAL PROGRAM, CHILDREN'S HIGH-ACUITY MONITORING PROGRAM (CHAMP) AND THE PEDIATRIC FONTAN CLINIC, WHICH PROVIDES ONGOING, HOLISTIC CARE TO PATIENTS WHO HAVE HAD A FONTAN PROCEDURE. IN ADDITION, THE DONATION WILL HELP DRIVE INNOVATION IN EDUCATION AND CARDIOVASCULAR CARE DELIVERY THROUGH THE ESTABLISHMENT OF AN ENDOWED CHAIR.
Expenses $233,775 · Grants $215,212
-
IN JANUARY 2024, THE FOUNDATION EXECUTED PLEDGE COMMITMENT WITH THE MEDICAL UNIVERSITY OF SOUTH CAROLINA'S SJCH HEART CENTER, WHERE THE FOUNDATION PLEDGED $1,800,000 IN YEARLY INSTALLMENTS OVER FIVE YEARS STARTING IN 2024.THE GOAL OF THIS PROGRAM IS TO BE ABLE TO PROVIDE MENTAL HEALTH SERVICES TO PATIENTS, FAMILIES AND STAFF OF THE PEDIATRIC HEART CENTER AT SJCH. THIS INCLUDES BUT NOT LIMITED TO AN INPATIENT PSYCHOLOGIST, ADVANCED PRACTICE PRACTITIONER COORDINATOR FOR INPATIENT AND OUTPATIENT PATIENTS AND RESOURCES TOWARD OUR MATERNAL FETAL MONITORING PROGRAMS.
Expenses $1,799,390 · Grants $1,656,510
-
Expenses $2,550 · Grants $2,550
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Gregory W OlsenGREGORY W OLSEN
FOUNDER/CHAIRMAN
- Total calculated
- $0
- Hours/week
- 10
-
Kara OlsenKARA OLSEN
CO-FOUNDER
- Total calculated
- $0
- Hours/week
- 5
-
Susan OlsenSUSAN OLSEN
DIRECTOR OF COMMUNITY OUTREACH
- Total calculated
- $0
- Hours/week
- 5
-
Deborah DooleyDEBORAH DOOLEY
CONTROLLER
- Total calculated
- $18,000
- From this org
- $18,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10
-
Kristen McCulloughKRISTEN MCCULLOUGH
DIRECTOR OF COMMUNICATIONS
- Total calculated
- $12,000
- From this org
- $12,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Donald RobbinsDONALD ROBBINS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 5
-
Amy Levine DawsonAMY LEVINE DAWSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 5
-
Doug PorterDOUG PORTER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 5
-
Jose ArmarioJOSE ARMARIO
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 5
-
Molly AnsbroMOLLY ANSBRO
EXECUTIVE DIRECTOR
- Total calculated
- $97,728
- From this org
- $97,728
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
William CulpWILLIAM CULP
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 5
-
Natalie StewartNATALIE STEWART
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 5
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
-
THE MEDICAL UNIVERSITY OF SOUTH CAROLINA (MUSC) FOUNDATION
$1,656,510
CANCER & MEDICAL RESEARCH
-
ATRIUM HEALTH
$215,212
CANCER & MEDICAL RESEARCH
-
RONALD MCDONALD HOUSE
$22,500
CANCER & MEDICAL RECOVERY
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 13 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202503219349316265
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