Olean Business Development Corporation
Olean, NY. EIN 45-5371087. Reported $1,407,964 of revenue for 2025 on its Form 990.
American Factbook Research
The IRS record
- OLEAN BUSINESS DEVELOPMENT CORPORATION
- Registered name
- As the IRS records it, which is how it appears in their own search.
- 45-5371087
- Employer Identification Number
- The identifier the IRS uses for this organization.
- 501(c)(3) — charitable, religious, educational, scientific
- Recognised under
- The subsection of the code its exemption was granted under.
- 2013
- Recognised in
- The year of the IRS ruling.
- Community Improvement and Capacity Building
- Classification
- NTEE code S20, assigned at registration.
- Contributions are deductible
- Gifts to it
- Whether the IRS treats a contribution to this organization as deductible.
- Corporation
- Legal form
- How the organization is constituted, as recorded at registration.
- Olean, NY
- Location of record
- The address the IRS holds, not necessarily where it operates.
- Form 990
- Most recent filing
- For tax year 2025, amended.
What it reported for 2025
- $1,407,964
- Total revenue
- Contributions, grants, program service revenue and investment income.
- $1,003,914
- Total expenses
- As reported on the return.
- $2,950,671
- Total assets, book value
- At the end of the year, at what the organization paid for them.
- 10
- People listed
- Officers, directors, trustees, key employees and highest-paid employees.
- $114,893
- Largest reported compensation
- Reported for BOB FORNESS.
Olean Business Development Corporation reported paying BOB FORNESS, PRESIDENT/CEO, $114,893 for 2025. That is reportable compensation from the organization, from related organizations, and other compensation, as the organization reported all three. It is not a verified salary and not take-home pay.
This is an amended return: the organization corrected a filing it had already made. Sources still showing the original will disagree with these figures, and neither is a mistake.
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This organization elsewhere
- IRS Tax Exempt Organization Search — the exemption record this page is built from. Search for EIN 45-5371087; the IRS search has no address that opens one organization directly.
- ProPublica Nonprofit Explorer — the same filings with scanned returns going back further. Reporting by ProPublica.
More in New York and under Community Improvement and Capacity Building. All organizations: nonprofits.
What this page cannot show
- Everything here is what the organization told the IRS about itself. The IRS publishes returns as filed and does not audit them first.
- The figures describe the most recent year on record, which is usually one to two years behind, and not the organization’s current position.
- Nothing here says whether the organization does its work well, or how it spends what it raises beyond the totals on the form.
Something wrong? Tell us. Full method at methodology.
Sources
- Exempt Organizations Business Master File — Internal Revenue Service · Public domain — U.S. Government work · retrieved September 21, 2026
- Form 990 series e-file data · retrieved September 19, 2026
Data retrieved