Receptions for Research - the Greg Olsen Foundation Inc
A happier, healthier future for heart kids.
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Receptions for Research - the Greg Olsen Foundation Inc
EIN: 27-0843891
as of November 2023
as of November 13, 2023
Mission
The Foundation supports families of children with congenital heart disease with in-home nursing care and comprehensive medical services. We hope to create a happier, healthier future for heart kids.
Ruling year
2010
Founder
Greg Olsen
Main address
200 E Las Olas Blvd Ste 1550
Fort Lauderdale, FL 33301 USA
EIN
27-0843891
Health care quality
Patient-centered care
Children's hospital care
Home health care
Cardiology
Population served
Families
Parents
Caregivers
People with disabilities
Chronically ill people
NTEE code
Fund Raising and/or Fund Distribution (H12)
IRS subsection
501(c)(3) Public Charity
IRS filing requirement
This organization is required to file an IRS Form 990 or 990-EZ.
Tax forms
Communication
Programs and results
What we aim to solve
Our programs
What are the organization's current programs, how do they measure success, and who do the programs serve?
HEARTest Yard
THE HEARTEST YARD established in 2013, is the first and only family support and service program for pediatric cardiovascular patients and their families in the Carolinas. We’re here to support families navigating the challenges of parenting children with congenital heart disease. We offer a range of no-cost services, including in-home nursing care, therapy and more, that are tailored to your needs. Our mission is to improve survival rates, enhance life expectancy and provide compassionate support throughout your journey.
Where we work
External reviews
Photos
Videos
Financials
Financial documents
Download audited financialsRevenue vs. expenses: breakdown
Liquidity in 2021 info
0.25
Months of cash in 2021 info
14.8
Fringe rate in 2021 info
5%
Funding sources info
Assets & liabilities info
Financial data
Receptions for Research - the Greg Olsen Foundation Inc
Revenue & expensesFiscal Year: Jan 01 - Dec 31
Receptions for Research - the Greg Olsen Foundation Inc
Balance sheetFiscal Year: Jan 01 - Dec 31
The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.
Receptions for Research - the Greg Olsen Foundation Inc
Financial trends analysis Glossary & formula definitionsFiscal Year: Jan 01 - Dec 31
This snapshot of Receptions for Research - the Greg Olsen Foundation Inc’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.
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Business model indicators
| Profitability info | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|
| Unrestricted surplus (deficit) before depreciation | -$29,961 | -$41,398 | $12,849 | -$1,501,919 | $620,087 |
| As % of expenses | -3.5% | -4.9% | 2.0% | -1296.8% | 423.3% |
| Unrestricted surplus (deficit) after depreciation | -$36,112 | -$41,398 | $12,849 | -$1,501,919 | $620,087 |
| As % of expenses | -4.2% | -4.9% | 2.0% | -1296.8% | 423.3% |
| Revenue composition info | |||||
|---|---|---|---|---|---|
| Total revenue (unrestricted & restricted) | $821,992 | $795,909 | $662,551 | $553,897 | $766,582 |
| Total revenue, % change over prior year | 6.4% | -3.2% | -16.8% | -16.4% | 38.4% |
| Program services revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Membership dues | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Investment income | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Government grants | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| All other grants and contributions | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Other revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Expense composition info | |||||
|---|---|---|---|---|---|
| Total expenses before depreciation | $851,953 | $837,307 | $644,702 | $115,816 | $146,495 |
| Total expenses, % change over prior year | 20.3% | -1.7% | -23.0% | -82.0% | 26.5% |
| Personnel | 1.4% | 1.4% | 1.9% | 10.4% | 21.2% |
| Professional fees | 1.2% | 1.3% | 1.9% | 22.2% | 13.4% |
| Occupancy | 0.0% | 0.0% | 1.4% | 26.7% | 0.0% |
| Interest | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Pass-through | 95.1% | 92.0% | 88.4% | 0.3% | 1.7% |
| All other expenses | 2.3% | 5.4% | 6.4% | 40.4% | 63.7% |
| Full cost components (estimated) info | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|
| Total expenses (after depreciation) | $858,104 | $837,307 | $644,702 | $115,816 | $146,495 |
| One month of savings | $70,996 | $69,776 | $53,725 | $9,651 | $12,208 |
| Debt principal payment | $0 | $0 | $0 | $0 | $0 |
| Fixed asset additions | $0 | $0 | $0 | $0 | $0 |
| Total full costs (estimated) | $929,100 | $907,083 | $698,427 | $125,467 | $158,703 |
Capital structure indicators
| Liquidity info | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|
| Months of cash | 2.2 | 1.7 | 2.6 | 43.8 | 14.8 |
| Months of cash and investments | 2.2 | 1.7 | 2.6 | 43.8 | 14.8 |
| Months of estimated liquid unrestricted net assets | 2.3 | 1.8 | 2.6 | -141.4 | -61.0 |
| Balance sheet composition info | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|
| Cash | $156,840 | $116,592 | $139,938 | $422,990 | $180,077 |
| Investments | $0 | $0 | $0 | $0 | $0 |
| Receivables | $0 | $5,000 | $0 | $0 | $63,000 |
| Gross land, buildings, equipment (LBE) | $0 | $0 | $0 | $0 | $0 |
| Accumulated depreciation (as a % of LBE) | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Liabilities (as a % of assets) | 0.0% | 0.0% | 3.5% | 420.6% | 403.0% |
| Unrestricted net assets | $166,065 | $124,667 | $137,516 | -$1,364,403 | -$744,316 |
| Temporarily restricted net assets | $0 | $0 | N/A | N/A | N/A |
| Permanently restricted net assets | $0 | $0 | N/A | N/A | N/A |
| Total restricted net assets | $0 | $0 | $0 | $0 | $0 |
| Total net assets | $166,065 | $124,667 | $137,516 | -$1,364,403 | -$744,316 |
Key data checks
| Key data checks info | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|
| Material data errors | No | No | No | No | No |
Operations
The people, governance practices, and partners that make the organization tick.
Documents
Founder
Greg Olsen
Greg Olsen, known for his 14 years in the NFL as a tight end with the Carolina Panthers, Chicago Bears, and Seattle Seahawks, is now in his second year as an NFL broadcaster with Fox Sports. Greg lives in Charlotte, NC with his wife, Kara, and they have three children, Tate, TJ, and Talbot. Greg and Kara started the HEARTest Yard in 2013 when their twins, TJ and Talbot were born. TJ was born with a rare congenital heart defect, hypoplastic left heart syndrome, and had to undergo open heart surgery at just a few days old. Greg and Kara saw the emotional, physical, and financial strains that heart families face during those early years. So they decided to start the HEARTest Yard as a support program for heart patients and their families in the Carolinas, including in-home nursing care for new heart babies and a 25,000+ square foot outpatient HEARTest Yard Congenital Heart Clinic in Charlotte, NC.
Number of employees
Source: IRS Form 990
Receptions for Research - the Greg Olsen Foundation Inc
Officers, directors, trustees, and key employeesSOURCE: IRS Form 990
Compensation data
There are no highest paid employees recorded for this organization.
Receptions for Research - the Greg Olsen Foundation Inc
Board of directorsas of 11/07/2023
Board of directors data
Doug Porter
Former CEO of the Ronald McDonald House of Chicago
Donald Robbins
Robbins Financial
Amy Levine Dawson
Levine Children's Hospital
Jose Armario
Bojangles Restaurants
Will Culp
South Street Partners
Organizational demographics
Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.
Leadership
The organization's leader identifies as:
Race & ethnicity
Gender identity
Sexual orientation
Disability
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- Officer and/or Employee data for 2021, 2020, 2019, 2018, 2017
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