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Nonprofiteer
← OLNEYVILLE HOUSING CORP

Form 990 for tax year 2022

Filed by OLNEYVILLE HOUSING CORP.

Totals

Total revenue
$9,198,891
Total expenses
$7,084,893
Contributions and grants received
$7,287,143
Grants paid
$1,402,880
Program service revenue
$1,683,727
Investment income
$11,996
Other revenue
$216,025
Total assets, end of year
$16,065,797
Total liabilities, end of year
$7,859,058
Net assets or fund balances, end of year
$8,206,739
Program services expenses (Part IX)
$6,376,355
Management and general expenses
$708,538
Fundraising expenses
$0
Program service expenses (Part III)
$6,376,355

Program services were 90.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $859,296

  • 1f · All other contributions, gifts and grants

    $6,427,847

  • 2a · Program service revenue: DEVELOPMENT FEES

    total $722,291 · related or exempt $722,291

  • 2b · Program service revenue: RENTAL INCOME

    total $657,690 · related or exempt $657,690

  • 2c · Program service revenue: SERVICE FEES

    total $217,782 · related or exempt $217,782

  • 2d · Program service revenue: INTEREST INCOME - N/R

    total $85,964 · related or exempt $85,964

  • 3 · Investment income

    total $11,996 · excluded $11,996

  • 10a · Gross sales of inventory

    $455,000

  • 10b · Cost of goods sold

    $388,203

  • 10c · Net income from sales of inventory

    total $66,797 · related or exempt $66,797

  • 11a · Other revenue: FOREGIVENESS OF DEBT

    total $147,875 · related or exempt $147,875

  • 11d · All other revenue

    total $1,353 · related or exempt $1,353

  • 11e · Other revenue, total

    $149,228

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,402,880 · program services $1,402,880

  • 5 · Compensation of officers, directors and key employees

    total $265,614 · program services $215,207 · management and general $50,407

  • 7 · Other salaries and wages

    total $1,759,534 · program services $1,425,618 · management and general $333,916

  • 8 · Pension plan contributions

    total $29,050 · program services $18,330 · management and general $10,720

  • 9 · Other employee benefits

    total $79,348 · program services $61,207 · management and general $18,141

  • 10 · Payroll taxes

    total $171,924 · program services $136,821 · management and general $35,103

  • 11a · Fees: management

    total $24,218 · program services $24,218

  • 11b · Fees: legal

    total $2,952 · program services $2,952

  • 11c · Fees: accounting

    total $32,265 · management and general $32,265

  • 11g · Fees: other

    total $442,487 · program services $379,715 · management and general $62,772

  • 13 · Office expenses

    total $407,218 · program services $297,351 · management and general $109,867

  • 16 · Occupancy

    total $337,310 · program services $318,880 · management and general $18,430

  • 20 · Interest

    total $51,660 · program services $41,382 · management and general $10,278

  • 22 · Depreciation, depletion and amortization

    total $245,972 · program services $234,946 · management and general $11,026

  • 23 · Insurance

    total $30,879 · program services $15,266 · management and general $15,613

  • 24a · Other expenses: BAD DEBTS EXPENSE

    total $1,776,240 · program services $1,776,240

  • 24b · Other expenses: PROGRAM COSTS

    total $24,128 · program services $24,128

  • 24c · Other expenses: DEVELOPMENT COSTS

    total $1,214 · program services $1,214

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,046,834 · end of year $1,700,021

  • 2 · Savings and temporary cash investments

    beginning of year $120,527 · end of year $516,578

  • 3 · Pledges and grants receivable

    beginning of year $497,709 · end of year $965,202

  • 4 · Accounts receivable

    beginning of year $1,348,260 · end of year $1,085,365

  • 8 · Inventories for sale or use

    beginning of year $27,666 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $51,382 · end of year $61,483

  • 10a · Land, buildings and equipment: cost or other basis

    $11,425,254

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,238,993

  • 10c · Land, buildings and equipment, net

    beginning of year $8,038,201 · end of year $10,186,261

  • 13 · Investments: program-related

    beginning of year $556,671 · end of year $68,275

  • 15 · Other assets

    beginning of year $1,339,875 · end of year $1,482,612

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,955,812 · end of year $1,297,846

  • 19 · Deferred revenue

    beginning of year $74,870 · end of year $187,925

  • 21 · Escrow or custodial account liability

    beginning of year $32,329 · end of year $27,581

  • 23 · Secured mortgages and notes payable

    beginning of year $3,834,528 · end of year $6,222,962

  • 25 · Other liabilities

    beginning of year $862,751 · end of year $122,744

  • 27 · Net assets without donor restrictions

    beginning of year $4,495,437 · end of year $6,622,629

  • 28 · Net assets with donor restrictions

    beginning of year $1,771,398 · end of year $1,584,110

Mission and programs · 2022

Mission

ONE NEIGHBORHOOD BUILDERS (ONE/NB) IS A COMMUNITY DEVELOPMENT ORGANIZATION WITH A MISSION TO PROMOTE EQUITY, PUBLIC HEALTH AND COMMUNITY SAFETY. WE ACCOMPLISH OUR MISSION THROUGH: STRATEGIC REAL ESTATE DEVELOPMENT WITHIN THE GREATER-PROVIDENCE REGION TO INCREASE THE AVAILABILITY OF AFFORDABLE HOMES, SPUR ECONOMIC DEVELOPMENT, AND PROTECT OUR NATURAL RESOURCES; ENGAGEMENT OF PROVIDENCE RESIDENTS AND COMMUNITY-BASED ORGANIZATIONS TO BUILD TRUST AND COLLECTIVE PROBLEM-SOLVING; DEVELOPMENT OF INDIVIDUALS' FINANCIAL CAPABILITIES SO THAT THEY MAY REALIZE THEIR PERSONAL ASSET-BUILDING GOALS.

Activities or mission (Part I)

HOUSING OPPORTUNITIES FOR LOW AND MODERATE INCOME PERSONS

  • REAL ESTATE DEVELOPMENT AND ASSET MANAGEMENT: ONE/NB HAS DEVELOPED ALMOST 600 AFFORDABLE HOMES IN HISTORICALLY-DISINVESTED PROVIDENCE NEIGHBORHOODS SINCE 1988. THE AGENCY PRESENTLY OWNS AND MANAGES 429 APARTMENTS, PROVIDING HIGH-QUALITY, AFFORDABLE HOUSING FOR RHODE ISLAND FAMILIES, INCLUDING INDIVIDUALS WHO EXPERIENCED HOMELESSNESS. ONE/NB HAS COMPLETED 11 LOW-INCOME HOUSING TAX CREDIT PROJECTS, TOTALING OVER $135 MILLION OF INVESTMENT.

    Expenses $3,020,374 · Grants $46,351 · Revenue $1,899,752

  • COMMUNITY BUILDING: ONE/NB LEADS THE CENTRAL PROVIDENCE HEATH EQUITY ZONE, CHARGED WITH ADDRESSING THE ROOT CAUSES OF HEALTH DISPARITIES, IMPROVE NEIGHBORHOOD CONDITIONS, AND INCREASE ECONOMIC MOBILITY FOR RESIDENTS IN CENTRAL PROVIDENCE. ONE/NB'S COMMUNITY INITIATIVES HAVE IDENTIFIED SPECIFIC STRATEGIES TO ADDRESS LOCAL ISSUES LIKE HOUSING, JOBS, AND PUBLIC HEALTH AND SAFETY.

    Expenses $3,355,981 · Grants $1,356,529

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • ALTHEA GRAVES

    DIRECTOR (OUTGOING)

    Total calculated
    $0
    Hours/week
    1

  • DOMENIC F DELMONICO

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • ELIZABETH HOWLETT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ELIZABETH ROBERTS

    DIRECTOR (OUTGOING)

    Total calculated
    $0
    Hours/week
    1

  • EVELYN RANONE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JORDAN DURHAM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KEVIN ESSINGTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LORRAINE LALLI

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    2

  • ROBERT MCMAHON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ROCHELLE LEE

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • VERONICA MARTINEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • XANDER MARRO

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • JENNIFER HAWKINS

    EXECUTIVE DIRECTOR

    Total calculated
    $149,890
    From this org
    $149,890
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • ROBERT EBERSOLE

    DIRECTOR OF FINANCE

    Total calculated
    $115,724
    From this org
    $115,724
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • MILTON BAXTER

    DIRECTOR OF REAL ESTATE

    Total calculated
    $115,590
    From this org
    $115,590
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • 60 KING STREET LLC

    501(C)(2) · LAND HOLDING · RI · controlled entity

    Directly controlled by OLNEYVILLE HOUSING CORPORATION

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • PHP LESSEE LLC (PHP)

    LOW INCOME HOUSING · RI · income $0 · assets $0

    Directly controlled by OLNEYVILLE HOUSING CORPORATION

  • PHP MANAGER LLC

    DEVELOPMENT OF AFFORDABLE HOUSING · RI · income $0 · assets $0

    Directly controlled by OLNEYVILLE HOUSING CORPORATION

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • RIVERSIDE GATEWAY LP

    LOW INCOME HOUSING · RI

  • OLNEY VILLAGE LP

    LOW INCOME HOUSING · RI

  • AMHERST GARDENS LP

    LOW INCOME HOUSING · RI

  • ELMWOOD NEIGHBORHOOD REVITALIZATION II LP

    LOW INCOME HOUSING · RI

  • ADELAIDE AVENUE LP

    LOW INCOME HOUSING · RI

  • NORTH ELMWOOD REVITALIZATION LP

    LOW INCOME HOUSING · RI

  • SUTTON PLACE LP

    RELATED · LOW INCOME HOUSING · RI · 99.99% owned · share of income -$145,480 · share of assets $4,968,910

    Directly controlled by OLNEYVILLE HOUSING CORPORATION

  • PARKIS HISTORIC PROPERTIES LLC

    RELATED · LOW INCOME HOUSING · RI · 99.9% owned · share of income -$138,341 · share of assets $2,388,157

    Directly controlled by PHP MANAGER LLC

  • BROAD STREET REVITALIZATION LP

    RELATED · LOW INCOME HOUSING · RI · 99.99% owned · share of income $85,299 · share of assets $4,024,789

    Directly controlled by OLNEYVILLE HOUSING CORPORATION

  • ELMWOOD II STATE CREDIT INVESTORS LLC

    LOW INCOME HOUSING · RI

  • NEW POLISH NATIONAL HOME LLC

    RELATED · REAL ESTATE INVESTMENT · RI · 85% owned · share of income -$26,864 · share of assets $1,272,273

    Directly controlled by OLNEYVILLE HOUSING CORPORATION

  • OLNEYVILLE REDUX LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · RI · 99.99% owned · share of income -$237,070 · share of assets $3,500,067

    Directly controlled by OLNEYVILLE HOUSING CORPORATION

  • KING STREET COMMONS LIMITED PARTNERSHIP

    LOW INCOME HOUSING · RI

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • ORCA INC

    C · LOW INCOME HOUSING PARTNERSHIP · RI · 100% owned · share of assets $18,298 · controlled entity

    Directly controlled by OLNEYVILLE HOUSING CORPORATION

  • OLNEY VILLAGE PARTNERS INC

    C · LOW INCOME HOUSING PARTNERSHIP · RI · 100% owned · controlled entity

    Directly controlled by OLNEYVILLE HOUSING CORPORATION

  • AMHERST GARDENS APARTMENTS INC

    C · LOW INCOME HOUSING PARTNERSHIP · RI · 100% owned · share of assets $100 · controlled entity

    Directly controlled by OLNEYVILLE HOUSING CORPORATION

  • KING STREET COMMONS DEVELOPMENT CO

    C · LOW INCOME HOUSING PARTNERSHIP · RI · 100% owned · share of assets $1 · controlled entity

    Directly controlled by OLNEYVILLE HOUSING CORPORATION

  • ELMWOOD NEIGHBORHOOD REVITALIZATION INC

    C · LOW INCOME HOUSING PARTNERSHIP · RI · 100% owned · controlled entity

    Directly controlled by OLNEYVILLE HOUSING CORPORATION

  • ELMWOOD NEIGHBORHOOD REVITALIZATION II

    C · LOW INCOME HOUSING PARTNERSHIP · RI · 100% owned · share of income $22,691 · controlled entity

    Directly controlled by OLNEYVILLE HOUSING CORPORATION

  • ADELAIDE AVENUE DEVELOPMENT CORPORATION

    C · LOW INCOME HOUSING PARTNERSHIP · RI · 100% owned · controlled entity

    Directly controlled by OLNEYVILLE HOUSING CORPORATION

  • NORTH ELMWOOD DEVELOPMENT CORPORATION

    C · LOW INCOME HOUSING PARTNERSHIP · RI · 100% owned · controlled entity

    Directly controlled by OLNEYVILLE HOUSING CORPORATION

  • RIVERSIDE GATEWAY PARTNERS INC

    C · LOW INCOME HOUSING PARTNERSHIP · RI · 100% owned · share of assets $186,823 · controlled entity

    Directly controlled by OLNEYVILLE HOUSING CORPORATION

  • BSR INC

    C · LOW INCOME HOUSING PARTNERSHIP · RI · 100% owned · share of income $96 · controlled entity

    Directly controlled by OLNEYVILLE HOUSING CORPORATION

  • SP DEVELOPMENT INC

    C · LOW INCOME HOUSING PARTNERSHIP · RI · 100% owned · share of income -$415 · share of assets $106 · controlled entity

    Directly controlled by OLNEYVILLE HOUSING CORPORATION

Provenance

Return type
form_990
Tax year
2022
Filed
8 November 2023
IRS schema version
2022v5.0
Source object
202303149349301500

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