Form 990 for tax year 2025
Filed by OLEAN BUSINESS DEVELOPMENT CORPORATION.
What the amendment changed
Compared with the return it replaced , filed 7 May 2026. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.
Both are the same on the two returns, so the amendment changed something else.
Totals
- Total revenue
- $1,407,964
- Total expenses
- $1,003,914
- Contributions and grants received
- $1,214,054
- Grants paid
- $198,796
- Program service revenue
- $21,178
- Investment income
- $40,239
- Other revenue
- $132,493
- Total assets, end of year
- $2,950,671
- Total liabilities, end of year
- $496,131
- Net assets or fund balances, end of year
- $2,454,540
- Program services expenses (Part IX)
- $822,846
- Management and general expenses
- $181,068
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $822,846
Program services were 82.0% 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.
-
1f · All other contributions, gifts and grants
$1,214,054
-
2a · Program service revenue: Program services
total $21,178 · related or exempt $21,178
-
3 · Investment income
total $40,239 · excluded $40,239
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6a · Gross rents
real property $130,399
-
6c · Rental income or loss
real property $130,399
-
6d · Net rental income or loss
total $130,399 · related or exempt $130,399
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: Miscellaneous
total $2,094 · related or exempt $2,094
-
11e · Other revenue, total
$2,094
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $130,000 · program services $130,000
-
2 · Grants to domestic individuals
total $68,796 · program services $68,796
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $114,893 · program services $86,170 · management and general $28,723
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $272,399 · program services $204,299 · management and general $68,100
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $36,782 · program services $27,587 · management and general $9,195
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $29,612 · program services $29,612
-
13 · Office expenses
total $44,388 · program services $33,291 · management and general $11,097
-
14 · Information technology
total $10,394 · program services $7,796 · management and general $2,598
-
15 · Royalties
total $0
-
16 · Occupancy
total $54,510 · program services $40,883 · management and general $13,627
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $72,132 · program services $54,099 · management and general $18,033
-
20 · Interest
total $20,101 · program services $15,076 · management and general $5,025
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $62,715 · program services $47,036 · management and general $15,679
-
23 · Insurance
total $17,193 · program services $12,895 · management and general $4,298
-
24a · Other expenses: Programming
total $50,878 · program services $50,878
-
24b · Other expenses: Miscellaneous
total $16,203 · program services $12,152 · management and general $4,051
-
24c · Other expenses: Printing and Publications
total $2,568 · program services $1,926 · management and general $642
-
24d · Other expenses: Bad debts
total $350 · program services $350
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $151,950 · end of year $134,193
-
2 · Savings and temporary cash investments
end of year $0
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $20,180 · end of year $27,182
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
beginning of year $370,000 · end of year $525,000
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $645 · end of year $645
-
10a · Land, buildings and equipment: cost or other basis
$1,971,307
-
10b · Land, buildings and equipment: accumulated depreciation
$520,359
-
10c · Land, buildings and equipment, net
beginning of year $1,477,051 · end of year $1,450,948
-
11 · Investments: publicly traded securities
beginning of year $866,754 · end of year $804,723
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
beginning of year $7,980 · end of year $7,980
-
15 · Other assets
end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $61,457 · end of year $13,642
-
19 · Deferred revenue
beginning of year $321,250 · end of year $359,957
-
21 · Escrow or custodial account liability
beginning of year $8,080 · end of year $10,080
-
23 · Secured mortgages and notes payable
beginning of year $453,283 · end of year $112,450
-
25 · Other liabilities
end of year $2
-
27 · Net assets without donor restrictions
beginning of year $2,050,490 · end of year $2,454,540
Mission and programs · 2025
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.
-
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
As filed on the 2025 return.
Listed in Part VII
-
BOB FORNESS
PRESIDENT/CEO
- Total calculated
- $114,893
- From this org
- $112,219
- From related orgs
- $0
- Other
- $2,674
- Hours/week
- 40
-
MICHAEL FISCHER
Finance Chair
- Total calculated
- $0
- Hours/week
- 1
-
MICHAEL SMITH
Vice Chair
- Total calculated
- $0
- Hours/week
- 1
-
DANIEL DEMARTE
Secretary
- Total calculated
- $0
- Hours/week
- 1
-
BRENT DRISCOLL
Director
- Total calculated
- $0
- Hours/week
- 1
-
COREY WIKTOR
Director
- Total calculated
- $0
- Hours/week
- 1
-
KIRK WINDUS
Director
- Total calculated
- $0
- Hours/week
- 1
-
MATRECIA JAMES
Director
- Total calculated
- $0
- Hours/week
- 1
-
JAMES E STITT
Past Chair
- Total calculated
- $0
- Hours/week
- 1
-
STEVE MCCLAIN
Chair
- Total calculated
- $0
- Hours/week
- 1
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
-
$80,000
-
$50,000
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
Olean Business Development LLC
Support the operations of OBDC · NY
Directly controlled by Olean Business Development Corporation
Provenance
- Return type
- form_990
- Tax year
- 2025
- Filed
- 27 May 2026
- IRS schema version
- 2025v4.1
- Source object
- 202631479349301113
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