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Nonprofiteer
← OLNEYVILLE HOUSING CORP

Form 990 for tax year 2023

Filed by OLNEYVILLE HOUSING CORP.

Totals

Total revenue
$10,936,227
Total expenses
$6,156,658
Contributions and grants received
$9,809,523
Grants paid
$870,314
Program service revenue
$985,894
Investment income
$125,662
Other revenue
$15,148
Total assets, end of year
$25,876,696
Total liabilities, end of year
$13,582,928
Net assets or fund balances, end of year
$12,293,768
Program services expenses (Part IX)
$4,462,337
Management and general expenses
$1,694,321
Fundraising expenses
$0
Program service expenses (Part III)
$4,462,337

Program services were 72.5% 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)

    $660,615

  • 1f · All other contributions, gifts and grants

    $9,148,908

  • 2a · Program service revenue: RENTAL INCOME

    total $771,909 · related or exempt $771,909

  • 2b · Program service revenue: SERVICE FEES

    total $125,885 · related or exempt $125,885

  • 2c · Program service revenue: DEVELOPMENT FEES

    total $88,100 · related or exempt $88,100

  • 3 · Investment income

    total $125,662 · excluded $125,662

  • 11d · All other revenue

    total $15,148 · related or exempt $15,148

  • 11e · Other revenue, total

    $15,148

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $870,314 · program services $870,314

  • 5 · Compensation of officers, directors and key employees

    total $270,275 · program services $220,555 · management and general $49,720

  • 7 · Other salaries and wages

    total $2,128,620 · program services $1,740,957 · management and general $387,663

  • 8 · Pension plan contributions

    total $22,458 · program services $16,808 · management and general $5,650

  • 9 · Other employee benefits

    total $133,375 · program services $99,821 · management and general $33,554

  • 10 · Payroll taxes

    total $205,404 · program services $142,505 · management and general $62,899

  • 11a · Fees: management

    total $30,595 · management and general $30,595

  • 11b · Fees: legal

    total $10,714 · program services $10,714

  • 11c · Fees: accounting

    total $43,415 · management and general $43,415

  • 11g · Fees: other

    total $649,987 · program services $149,420 · management and general $500,567

  • 13 · Office expenses

    total $552,641 · program services $318,048 · management and general $234,593

  • 16 · Occupancy

    total $400,607 · program services $377,421 · management and general $23,186

  • 20 · Interest

    total $87,898 · program services $87,898

  • 22 · Depreciation, depletion and amortization

    total $300,064 · program services $291,274 · management and general $8,790

  • 23 · Insurance

    total $144,534 · program services $114,304 · management and general $30,230

  • 24a · Other expenses: DEVELOPMENT COSTS

    total $232,746 · management and general $232,746

  • 24b · Other expenses: PROGRAM COSTS

    total $50,713 · management and general $50,713

  • 24c · Other expenses: BAD DEBTS

    total $22,298 · program services $22,298

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,700,021 · end of year $5,228,530

  • 2 · Savings and temporary cash investments

    beginning of year $516,578 · end of year $512,833

  • 3 · Pledges and grants receivable

    beginning of year $965,202 · end of year $182,079

  • 4 · Accounts receivable

    beginning of year $1,085,365 · end of year $669,137

  • 7 · Other notes and loans receivable

    end of year $269,001

  • 9 · Prepaid expenses and deferred charges

    beginning of year $61,483 · end of year $80,739

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

    $19,312,851

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

    $1,519,294

  • 10c · Land, buildings and equipment, net

    beginning of year $10,186,261 · end of year $17,793,557

  • 13 · Investments: program-related

    beginning of year $68,275 · end of year $61,187

  • 15 · Other assets

    beginning of year $1,482,612 · end of year $1,079,633

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,297,846 · end of year $1,246,140

  • 19 · Deferred revenue

    beginning of year $187,925 · end of year $885,536

  • 21 · Escrow or custodial account liability

    beginning of year $27,581 · end of year $26,800

  • 23 · Secured mortgages and notes payable

    beginning of year $6,222,962 · end of year $11,323,556

  • 25 · Other liabilities

    beginning of year $122,744 · end of year $100,896

  • 27 · Net assets without donor restrictions

    beginning of year $6,622,629 · end of year $10,713,412

  • 28 · Net assets with donor restrictions

    beginning of year $1,584,110 · end of year $1,580,356

Mission and programs · 2023

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 RHODE ISLAND 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: SINCE 1988, ONB HAS DEVELOPED OVER 600 AFFORDABLE RESIDENTIAL UNITS AND NEARLY 45,000 SQUARE FEET OF COMMERCIAL AND COMMUNITY SPACE, INVESTING OVER $142 MILLION IN HISTORICALLY DISINVESTED COMMUNITIES ACROSS RHODE ISLAND. THE AGENCY PRESENTLY OWNS AND MANAGES MORE THAN 450 RESIDENT UNITS, PROVIDING HIGH-QUALITY, DEED-RESTRICTED AFFORDABLE HOUSING AND SUPPORTIVE SERVICES FOR INDIVIDUALS AND FAMILIES WITH LOW-INCOMES, INCLUDING THOSE WHO HAVE PREVIOUSLY EXPERIENCED HOMELESSNESS.

    Expenses $1,399,929 · Grants $870,314 · Revenue $1,001,042

  • COMMUNITY BUILDING: ONB LEADS THE CENTRAL PROVIDENCE OPPORTUNITIES HEALTH EQUITY ZONE (CPO-HEZ) A PLACE-BASED COLLECTIVE IMPACT INITIATIVE WORKING TOWARD GREATER HEALTH AND ECONOMIC EQUITY WITHIN THE NINE NEIGHBORHOODS THAT COMPRISE THE 02908 AND 02909 ZIP CODES OF PROVIDENCE. CPO-HEZ HAS IDENTIFIED SPECIFIC STRATEGIES TO ADDRESS COMMUNITY NEEDS INCLUDING HEALTH, HOUSING, EDUCATION, AND ECONOMIC MOBILITY.

    Expenses $3,062,408

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Lorraine Lalli

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Evelyn Ranone

    VICE- CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Rochelle Lee

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Domenic Delmonico

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Xander Marro

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth Howlett

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kevin Essington

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lauren Greene

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Veronica Martinez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Melissa Cruz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Barry O'Connor Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bonnie Nickerson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Hawkins

    PRESIDENT

    Total calculated
    $199,970
    From this org
    $192,808
    From related orgs
    $0
    Other
    $7,162
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $192,808
    Bonus
    $0
    Other
    $0
    Deferred
    $7,162
    Nontaxable benefits
    $0
    Filer's total
    $199,970

  • Robert Ebersole

    DIRECTOR OF FINANCE (UNTIL AUG. 2023)

    Total calculated
    $70,305
    From this org
    $70,305
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Grace Evans

    VP OF STRATEGY & CHIEF OF STAFF

    Total calculated
    $107,354
    From this org
    $107,354
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Belinda Philippe

    VP OF PEOPLE AND BELONGING

    Total calculated
    $109,237
    From this org
    $106,521
    From related orgs
    $0
    Other
    $2,716
    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. 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

  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study

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

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 -$188,170 · share of assets $5,700,194

    Directly controlled by OLNEYVILLE HOUSING CORPORATION

  • PARKIS HISTORIC PROPERTIES LLC

    RELATED · LOW INCOME HOUSING · RI · 89.9% owned · share of income $28,862 · share of assets $2,354,387

    Directly controlled by PHP MANAGER LLC

  • BROAD STREET REVITALIZATION LP

    RELATED · LOW INCOME HOUSING · RI · 99.99% owned · share of income $103,710 · share of assets $3,859,652

    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 -$19,901 · share of assets $1,243,376

    Directly controlled by OLNEYVILLE HOUSING CORPORATION

  • OLNEYVILLE REDUX LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · RI · 99.99% owned

    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 $18,274 · 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 income $1 · 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 income $5,200 · share of assets $5,201 · 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 · 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 $202,404 · controlled entity

    Directly controlled by OLNEYVILLE HOUSING CORPORATION

  • BSR INC

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

    Directly controlled by OLNEYVILLE HOUSING CORPORATION

  • SP DEVELOPMENT INC

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

    Directly controlled by OLNEYVILLE HOUSING CORPORATION

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202433209349307848

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