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Nonprofiteer
← OLDETOWNE HOMES INC

Form 990 for tax year 2023

Filed by OLDETOWNE HOMES INC.

Totals

Total revenue
$71,888
Total expenses
$92,117
Contributions and grants received
$47,879
Grants paid
$0
Program service revenue
$24,001
Investment income
$8
Other revenue
$0
Total assets, end of year
$399,333
Total liabilities, end of year
$681,404
Net assets or fund balances, end of year
-$282,071
Program services expenses (Part IX)
$66,070
Management and general expenses
$26,047
Fundraising expenses
$0
Program service expenses (Part III)
$66,070

Program services were 71.7% 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)

    $47,879

  • 2a · Program service revenue: RENTAL INCOME

    total $24,001 · related or exempt $24,001

  • 3 · Investment income

    total $8 · excluded $8

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $7,008 · management and general $7,008

  • 11c · Fees: accounting

    total $12,432 · management and general $12,432

  • 11g · Fees: other

    total $16,836 · program services $16,836

  • 13 · Office expenses

    total $16 · management and general $16

  • 16 · Occupancy

    total $23,259 · program services $23,259

  • 22 · Depreciation, depletion and amortization

    total $17,918 · program services $17,918

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $8,057 · program services $8,057

  • 24b · Other expenses: ALLOCATED SALARIES

    total $6,591 · management and general $6,591

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,279 · end of year $1,785

  • 2 · Savings and temporary cash investments

    beginning of year $87,047 · end of year $89,416

  • 4 · Accounts receivable

    beginning of year $1,824 · end of year $2,289

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

    $741,142

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

    $437,152

  • 10c · Land, buildings and equipment, net

    beginning of year $321,908 · end of year $303,990

  • 15 · Other assets

    beginning of year $1,769 · end of year $1,853

  • 17 · Accounts payable and accrued expenses

    beginning of year $15,316 · end of year $20,967

  • 21 · Escrow or custodial account liability

    beginning of year $1,754 · end of year $1,838

  • 23 · Secured mortgages and notes payable

    beginning of year $658,599 · end of year $658,599

  • 27 · Net assets without donor restrictions

    beginning of year -$261,842 · end of year -$282,071

Mission and programs · 2023

Mission

TO PROVIDE AFFORDABLE HOUSING TO THE CHRONICALLY MENTALLY DISABLED UNDER SECTION 811 OF THE NATIONAL AFFORDABLE HOUSING ACT.

  • PROVIDING 10 UNITS OF AFFORDABLE HOUSING TO PERSONS WITH DISABILITIES. THE ENTITY RECEIVES ASSISTANCE UNDER PROVISION OF SECTION 811 OF THE NATIONAL AFFORDABLE HOUSING ACT

    Expenses $66,070 · Revenue $24,001

As filed on the 2023 return.

Listed in Part VII

  • Sarah Norman

    CHIEF, COMMUNITY DEVELOPMENT

    Total calculated
    $244,161
    From this org
    $0
    From related orgs
    $212,377
    Other
    $31,784
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $199,161 related
    Bonus
    $0
    Other
    $0 + $13,216 related
    Deferred
    $0 + $1,963 related
    Nontaxable benefits
    $0 + $29,821 related
    Filer's total
    $0 + $244,161 related

  • Robert Hall

    VICE PRESIDENT - THRU 04/2024

    Total calculated
    $0
    Hours/week
    0.25 + 8.25 related

  • Jeff Richardson

    TREASURER - THRU 03/2024

    Total calculated
    $719,763
    From this org
    $0
    From related orgs
    $658,254
    Other
    $61,509
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $470,577 related
    Bonus
    $0 + $93,744 related
    Other
    $0 + $93,933 related
    Deferred
    $0 + $27,900 related
    Nontaxable benefits
    $0 + $33,609 related
    Filer's total
    $0 + $719,763 related

  • Erinn Shaw

    VICE-PRESIDENT

    Total calculated
    $0
    Hours/week
    0.25 + 8.25 related

  • Marisa Plunk

    TREASURER

    Total calculated
    $40,783
    From this org
    $0
    From related orgs
    $36,085
    Other
    $4,698
    Hours/week
    1 + 40 related

  • Issumi Young

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.25 + 8.25 related

  • Claire Dennis-Tukpah

    DIRECTOR - THRU 04/2024

    Total calculated
    $0
    Hours/week
    0.25 + 8.25 related

  • John Shipley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 8.25 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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)

PART I, LINE 3
A RELATED PARTY, SHEPPARD PRATT HEALTH SYSTEM, INC., COMPENSATES OFFICERS OF THE ORGANIZATION. THE FOLLOWING IS THEIR PROCESS FOR DETERMINING COMPENSATION. SALARIES OF THE CEO AND TOP MANAGEMENT ARE REVIEWED BY THE EMPLOYEE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES OF SHEPPARD AND ENOCH PRATT FOUNDATION, INC. THIS COMMITTEE IS COMPRISED OF INDEPENDENT TRUSTEES. THE TRUSTEES REVIEW COMPENSATION FOR REASONABLENESS. THEY USE COMPARATIVE INDUSTRY DATA AND FORM 990S OF OTHER ORGANIZATIONS IN THEIR REVIEW PROCESS. THE PROCESS FOR EMPLOYEE COMPENSATION INCLUDES DEVELOPMENT OF COMPENSATION RECOMMENDATIONS BASED ON MARKET SURVEYS AND OTHER COMPARATIVE INDUSTRY DATA AS WELL AS WRITTEN EMPLOYMENT CONTRACTS. THE SALARY INFORMATION FOR THIS GROUP IS OBTAINED BY A CONSULTANT THAT IS ENGAGED BY THE EXECUTIVE COMPENSATION COMMITTEE. THIS CONSULTANT USES CURRENT MARKET COMPENSATION SURVEYS AND OTHER COMPARATIVE INDUSTRY DATA TO MAKE RECOMMENDATIONS. THE RECOMMENDATIONS ARE THEN PRESENTED TO THE EXECUTIVE COMPENSATION COMMITTEE FOR APPROVAL. THE EXECUTIVE COMPENSATION COMMITTEE REPORTS THAT COMPENSATION WAS APPROVED TO THE FULL BOARD. THERE IS CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING FOR DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENTS.
PART I, LINE 4B
DURING CALENDAR YEAR 2023, JEFFREY RICHARDSON PARTICIPATE IN A RELATED PARTY, SHEPPARD PRATT HEALTH SYSTEM 457(F) PLAN. DURING THE YEAR $25,000 WAS CONTRIBUTED TO HIM. HE ALSO RECEIVED A DISTRIBUTION FROM THE PLAN OF $75,709 DURING 2023.

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.

  • SHEPPARD AND ENOCH PRATT FOUNDATION

    501(C)(3) · CONDUCT FUNDRAISING ACTIVITIES TO SUPPORT AFFILIATED ORGANIZATIONS · MD

  • WAY STATION INC

    501(C)(3) · PROVIDES REHABILITATIVE AND TREATMENT SERVICES · MD

    Directly controlled by SHEPPARD & ENOCH PRATT FOUNDATION

  • WAY STATION FOUNDATION INC

    501(C)(3) · SOLICIT AND ACCEPT FUNDS AND PROPERTY TO SUPPORT AFFILIATED ORGANIZATIONS · MD

    Directly controlled by WAY STATION INC

  • GEORGETOWN APTS INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS WITH MENTAL ILLNESES · MD

    Directly controlled by WAY STATION INC

  • AUTUMN PLACE INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS WITH MENTAL ILLNESES · MD

    Directly controlled by WAY STATION INC

  • BEAM HOMES INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS WITH MENTAL ILLNESES · MD

    Directly controlled by WAY STATION INC

  • SPRING PLACE INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS WITH MENTAL ILLNESES · MD

    Directly controlled by WAY STATION INC

  • WALDEN PLACE INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS WITH MENTAL ILLNESES · MD

    Directly controlled by WAY STATION INC

  • IRISH MEADOWS INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS WITH MENTAL ILLNESES · MD

    Directly controlled by WAY STATION INC

  • POTOMAC RIVER HOMES INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS WITH MENTAL ILLNESES · MD

    Directly controlled by WAY STATION INC

  • FLOYD KRESS HOMES INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS WITH MENTAL ILLNESES · MD

    Directly controlled by WAY STATION INC

  • WETZEL HOMES INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS WITH MENTAL ILLNESES · MD

    Directly controlled by WAY STATION INC

  • FLURY PLACE INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS WITH MENTAL ILLNESES · MD

    Directly controlled by WAY STATION INC

  • HINZE HOMES INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS WITH MENTAL ILLNESES · MD

    Directly controlled by WAY STATION INC

  • O'CONOR HOMES INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS WITH MENTAL ILLNESES · MD

    Directly controlled by WAY STATION INC

  • OTTEY HOMES INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS WITH MENTAL ILLNESES · MD

    Directly controlled by WAY STATION INC

  • KIRKLAND HOMES INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS WITH MENTAL ILLNESES · MD

    Directly controlled by WAY STATION INC

  • MAHER HOMES INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS WITH MENTAL ILLNESES · MD

    Directly controlled by WAY STATION INC

  • WOOLARD HOMES INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS WITH MENTAL ILLNESES · MD

    Directly controlled by WAY STATION INC

  • BETTY JANE MALONE HOMES INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS WITH MENTAL ILLNESES · MD

    Directly controlled by WAY STATION INC

  • WINTER PLACE INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS WITH MENTAL ILLNESES · MD

    Directly controlled by WAY STATION INC

  • SOURLIS ELEUTERIO HOMES INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS WITH MENTAL ILLNESES · MD

    Directly controlled by WAY STATION INC

  • GUIDE NASHVILLE HOMES INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS WITH MENTAL ILLNESES · MD

    Directly controlled by WAY STATION INC

  • GUIDE MARYWOOD HOMES INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS WITH MENTAL ILLNESES · MD

    Directly controlled by WAY STATION INC

  • GUIDE TREXLER HOUSE INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS WITH MENTAL ILLNESES · MD

    Directly controlled by WAY STATION INC

Provenance

Return type
form_990
Tax year
2023
Filed
12 May 2025
IRS schema version
2023v6.0
Source object
202531329349306968

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