Skip to content
Nonprofiteer
← OBED APARTMENTS INC

Form 990 for tax year 2024

Filed by OBED APARTMENTS INC.

Totals

Total revenue
$119,071
Total expenses
$162,056
Contributions and grants received
$81,450
Grants paid
$0
Program service revenue
$33,723
Investment income
$2,312
Other revenue
$1,586
Total assets, end of year
$791,496
Total liabilities, end of year
$1,196,335
Net assets or fund balances, end of year
-$404,839
Program services expenses (Part IX)
$114,918
Management and general expenses
$47,138
Fundraising expenses
$0
Program service expenses (Part III)
$114,918

Program services were 70.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Henry Sachs III

    President

    Total calculated
    $612,588
    From this org
    $0
    From related orgs
    $563,221
    Other
    $49,367
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $483,379 related
    Bonus
    $0
    Other
    $0 + $79,843 related
    Deferred
    $0 + $20,651 related
    Nontaxable benefits
    $0 + $28,716 related
    Filer's total
    $0 + $612,589 related

  • Scott DiChristofero

    Former Officer

    Total calculated
    $188,030
    From this org
    $0
    From related orgs
    $175,943
    Other
    $12,087
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $175,943 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $12,087 related
    Filer's total
    $0 + $188,030 related

  • Jay Burdick

    Director

    Total calculated
    $0
    Hours/week
    0.05 + 0.45 related

  • Nicole M Corbin

    Secretary

    Total calculated
    $0
    Hours/week
    0.05 + 0.45 related

  • Michael Hogan

    Director

    Total calculated
    $0
    Hours/week
    0.05 + 0.45 related

  • Pamela LaBreche

    Vice Chair

    Total calculated
    $0
    Hours/week
    0.1 + 0.9 related

  • Robert Mancini

    Chair

    Total calculated
    $0
    Hours/week
    0.05 + 0.45 related

  • Joseph K Sabetta

    Treasurer

    Total calculated
    $0
    Hours/week
    0.05 + 0.45 related

  • David White

    Director

    Total calculated
    $0
    Hours/week
    0.1 + 0.9 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3
Compensation of the Obed President is determined by the Compensation Committee of Brown University Health. This committee's determination process utilizes a combination of an independent compensation consultant, written employment contracts, and compensation studies/surveys, along with approval by the Brown University Health Board of Directors.
Schedule J, Part I, Line 4
Line 4a: The following individual received severance and/or change of control payments during the calendar year ending December 31, 2024: Scott DiChristofero, Former Officer: $173,077. Line 4b: Brown University Health, the sole member of Gateway, which is the sole member of Obed, offers a non-qualified supplemental employee retirement plan to certain executives. The following individual was credited with the amount indicated during calendar year 2024 and such amount is included in deferred compensation on Schedule J, Part II, Column C: Henry Sachs - $2,986. In 2024, the following individual became vested in and was paid a 2021 non-qualified supplemental employee retirement plan (SERP) amount and such amount is included in Medicare wages, more specifically on Schedule J, Part II, Column B(iii): Henry Sachs - $59,524. Participants included in Brown University Health's SERP are awarded plan contributions on a quarterly basis. Contributions and interest earned during a plan year vest after three years and are paid to plan participants at that time. SERP payments earned during the calendar year which have not yet vested are disclosed on Schedule J, Part II, Column C. Vested SERP payments received during the year are disclosed on Schedule J, Part II, Column B(iii) (as well as Column F if reported on Schedule J, Part II, Column C of a previously filed Form 990). Plan contributions awarded to participants who have reached age 62 become vested as of the beginning of the following calendar year.
Schedule J, Part I, Line 7
The Brown University Health Annual Incentive Compensation Plan provides a financial award opportunity for designated members of management, based on quantified objectives that are approved in advance by the Compensation Committee of the Brown University Health Board of Directors. A specified level of financial and non-financial performance must be met before any award is earned. The objectives vary from year to year and generally include various aspects of financial measures in addition to non-financial performance measures.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

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.

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.

Related partnerships

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

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2024
Filed
15 May 2026
IRS schema version
2024v5.0
Source object
202601359349301765

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.