Receptions for Research the Greg Olsen Foundation

Nonprofit profile at a glance

EIN
270843891
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Ft Lauderdale, FL, USA
Phone
4074014534
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$1,345,731
Expenses
$2,180,403
Assets
$986,165
Liabilities
$3,180,335

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • MOLLY ANSBRO (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MOLLY ANSBRO (EXECUTIVE DIRECTOR): $97,728 total reported compensation
  • DEBORAH DOOLEY (CONTROLLER): $18,000 total reported compensation
  • KRISTEN MCCULLOUGH (DIRECTOR OF COMMUNICATIONS): $12,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

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.

What it reported doing in 2024

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.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 92% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 98
  • Transparency & Controls: 94
  • Accountability: 76
  • Sustainability: 13
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94.5%; rating input score 94
  • Fundraising efficiency: $945.64 raised per $1 spent on fundraising; rating input score 97; 97th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.9%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90%; rating input score 90; 23rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -62%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 0.45; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 3.22; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 5.9%; rating input score 51; 51st percentile among comparable filings

Growth

  • Program expense growth: 17.2% per year; rating input score 100; 79th percentile among comparable filings
  • Revenue growth: 14.5% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 19% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 94.5% of spending went to programs
  • Governance: 9 of 10 board members independent · 5 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $2.1M in reported program spending
  • Leadership: top reported pay $98K · 12 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Sustainability: Total-asset coverage ratio scored 21/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • Review — Sustainability: Officer compensation ratio scored 51/100.