Skip to content
Nonprofiteer
← OLMSTED GARDENS INC

Form 990 for tax year 2024

Filed by OLMSTED GARDENS INC.

Totals

Total revenue
$1,150,556
Total expenses
$1,008,235
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,148,808
Investment income
$1,748
Other revenue
$0
Total assets, end of year
$3,228,728
Total liabilities, end of year
$113,793
Net assets or fund balances, end of year
$3,114,935
Program services expenses (Part IX)
$879,286
Management and general expenses
$128,949
Fundraising expenses
$0
Program service expenses (Part III)
$879,286

Program services were 87.2% 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.

  • 2a · Program service revenue: SECTION 8 SUBSIDY

    total $897,429 · related or exempt $897,429

  • 2b · Program service revenue: RENTAL INCOME

    total $246,596 · related or exempt $246,596

  • 2c · Program service revenue: LAUNDRY AND VENDING

    total $4,748 · related or exempt $4,748

  • 2d · Program service revenue: NSF AND LATE CHARGES

    total $35 · related or exempt $35

  • 3 · Investment income

    total $1,748 · excluded $1,748

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $131,198 · program services $131,198

  • 9 · Other employee benefits

    total $30,504 · program services $30,504

  • 10 · Payroll taxes

    total $9,555 · program services $9,555

  • 11a · Fees: management

    total $61,949 · management and general $61,949

  • 11b · Fees: legal

    total $130 · management and general $130

  • 11c · Fees: accounting

    total $11,950 · management and general $11,950

  • 13 · Office expenses

    total $47,997 · program services $47,997

  • 22 · Depreciation, depletion and amortization

    total $136,230 · program services $136,230

  • 23 · Insurance

    total $54,920 · management and general $54,920

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $230,231 · program services $230,231

  • 24b · Other expenses: UTILITIES

    total $122,470 · program services $122,470

  • 24c · Other expenses: REAL ESTATE TAXES

    total $119,102 · program services $119,102

  • 24d · Other expenses: RESIDENT SERVICES

    total $51,999 · program services $51,999

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,844 · end of year $9,472

  • 4 · Accounts receivable

    beginning of year $1,122 · end of year $390

  • 9 · Prepaid expenses and deferred charges

    beginning of year $42,759 · end of year $44,830

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

    $5,463,211

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

    $2,951,020

  • 10c · Land, buildings and equipment, net

    beginning of year $2,548,076 · end of year $2,512,191

  • 15 · Other assets

    beginning of year $485,992 · end of year $661,845

  • 17 · Accounts payable and accrued expenses

    beginning of year $91,295 · end of year $96,199

  • 19 · Deferred revenue

    beginning of year $710 · end of year $1,117

  • 25 · Other liabilities

    beginning of year $16,174 · end of year $16,477

  • 27 · Net assets without donor restrictions

    beginning of year $2,972,614 · end of year $3,114,935

Mission and programs · 2024

Mission

TO CONSTRUCT, OWN AND OPERATE 52 UNITS OF AFFORDABLE HOUSING FOR PERSONS OF LOW INCOME IN PROVIDENCE, RI.

  • TO CONSTRUCT, OWN AND OPERATE 52 UNITS OF AFFORDABLE HOUSING FOR PERSONS OF LOW INCOME IN PROVIDENCE, RI.

    Expenses $879,286 · Revenue $1,148,808

As filed on the 2024 return.

Listed in Part VII

  • D MORGAN WILSON

    DIRECTOR, TREASURER, SECRE

    Total calculated
    $333,311
    From this org
    $0
    From related orgs
    $266,885
    Other
    $66,426
    Hours/week
    0.2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $266,885 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $10,675 related
    Nontaxable benefits
    $0 + $55,751 related
    Filer's total
    $0 + $333,311 related

  • THOMAS J BUONOPANE

    PRESIDENT, DIRECTOR

    Total calculated
    $320,924
    From this org
    $0
    From related orgs
    $255,528
    Other
    $65,396
    Hours/week
    0.2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $255,528 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $10,221 related
    Nontaxable benefits
    $0 + $55,175 related
    Filer's total
    $0 + $320,924 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

None.

Answered no

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

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.

Provenance

Return type
form_990
Tax year
2024
Filed
4 November 2025
IRS schema version
2024v5.2
Source object
202503089349303455

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.