Receptions for Research - the Greg Olsen Foundation Inc
Public records show a registered, tax-exempt organization in good standing.
Points to look into
- It owes more than it owns.
These come from the organization's own tax return. There may be a good explanation; ask the charity.
What it says it does
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.
- Income
- $1.3 million
- Spending
- $2.2 million
- Spent on programs
- 95%
- Reserves
- -12.1 months of spending
- Largest source of income
- donations and private grants, 100%
- Employees
- 2
- Volunteers
- 50
- Highest pay
- $97,728, executive director
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Weak: 25 out of 100. Higher than 1% of charities in its peer group (medical research, $1m to $10m).
Reserves
0 of 35Spendable reserves are negative: it owes or has committed more than it holds.
Debt
0 of 20It owes 322% of what it owns.
Living within its means
0 of 15Spending exceeded income by 62% of income.
Income trend
10 of 15Income fell 8% on the year before.
Spending floor
15 of 1594% of spending went to programs and raising each dollar of donations cost 0 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Good: 88 out of 100. Higher than 47% of charities in its peer group (medical research, $1m to $10m).
Independent board
25 of 259 of 10 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
0 of 7Reports no written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
0 of 5Reports no independent review process for its chief executive's pay.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (3)
- $24,441 spent. RONALD MCDONALD HOUSE PROVIDES ESSENTIAL SERVICES THAT REMOVE BARRIERS, STRENGTHEN FAMILIES AND PROMOTE HEALING WHEN CHILDREN NEED HEALTHCARE.
- $233,775 spent. 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.
- $1.8 million spent. 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.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since April 2010.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.