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OLEAN LOCAL DEVELOPMENT CORPORATION
OLEAN, NY · EIN 262740849 · Form 990EZ · FY2024 · NTEE S20 · Community Improvement · Micro (<$100K)
revenue
$44K
expenses
$6K
net assets
$179K
employees
—
program ratio
100%
mission · from form 990

The redevelopment of Bradner Stadium as a multi-sport, multi-recreational event center as well as the development of other community based projects by using a public/private partnership model to promote economic development to benefit the Olean and surrounding area. Development of community based projects using public/private partnership model to promote economic development to benefit the City of Olean and surrounding area. Promote redevelopment, revitalization and reuse of Bradner Stadium as a multi-use recreational/cultural facility.

profile · synthesized from sources

Olean Local Development Corporation is a community development organization based in Olean, NY, focused on revitalizing Bradner Stadium into a multi-sport and recreational event center. The organization promotes economic development through public-private partnerships and supports community-based projects in the Olean area. Its activities include oversight of financial reporting and internal controls via an audit committee.

irs program accomplishments · form 990 part iii · fy2023

What they reported doing

  1. #1 primary $0
    The purpose of the audit committee shall be to (1) assure that the authority's board fulfills its responsibilities for the authority's internal and external audit process, the financial reporting process and the system of risk assessment and internal controls over financial reporting; and (2) provide an avenue of communication between management, the independent auditors, the internal auditors, and the board of directors
  2. #2 $0
    The purpose of the audit committee shall be to (1) assure that the authority's board fulfills its responsibilities for the authority's internal and external audit process, the financial reporting process and the system of risk assessment and internal controls over financial reporting; and (2) provide an avenue of communication between management, the independent auditors, the internal auditors, and the board of directors
named programs · 2 · from sources

What they call their work

Audit Committee Oversight
Ensures proper financial reporting, risk assessment, and internal controls; facilitates communication between management, auditors, and the board.
Bradner Stadium Redevelopment
Redeveloping Bradner Stadium into a multi-sport, multi-recreational event center to serve the Olean community and promote economic development.
activities · 1 group

What they do

  • Organizational Sustainability Management 1 activity
    • Operating an audit committee for financial oversight
      Operates an audit committee responsible for overseeing financial reporting, internal controls, and communication between management, auditors, and the board of directors.
financials · form 990EZ · fy2024
revenue
Total revenue$44K
Contributions & grants$00%
Program service revenue$44K100%
Investment income$00%
Other revenue$0
expenses
Total expenses$6K
Program expenses100%
Admin / overhead0%
Fundraising0%
Salaries & benefits$0
Grants paid out$5K
Largest expense lineProfessional Fees
balance sheet
Total assets$179K
Cash$76K
Investments$0
Liabilities$2K
Net assets$179K
Liquid reserves142.0 mo
4 years on record · 2021–2024 · YoY revenue +2.0%
relationships · 1

Who they work with

  • Bradner Stadium Partner — Site for redevelopment as a multi-sport, multi-recreational event center through public/private partnerships.
strategies · 1

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.