Olneyville Housing Corp
- Assets
- $16.1m
- Revenue
- $9.2m
- Investments
- $0.0
- Employees
- 41
- Location
- Providence, RI
- Founding
- 02/1990
- Data as of
- 12/2022
- EIN
- 22-3010422
Organization Overview
Olneyville Housing Corp, operating under the name One Neighborhood Builders, is located in Providence, RI. The organization was established in 1990. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, One Neighborhood Builders employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. One Neighborhood Builders is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, One Neighborhood Builders generated $9.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 22.2% each year . All expenses for the organization totaled $7.1m during the year ending 12/2022. While expenses have increased by 16.8% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, One Neighborhood Builders has awarded 43 individual grants totaling $2,243,942. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
HOUSING OPPORTUNITIES FOR LOW AND MODERATE INCOME PERSONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Althea Graves Director (outgoing) | Trustee | 1 | $0 |
Domenic F Delmonico Treasurer | OfficerTrustee | 1 | $0 |
Elizabeth Howlett Director | Trustee | 1 | $0 |
Elizabeth Roberts Director (outgoing) | Trustee | 1 | $0 |
Evelyn Ranone Director | Trustee | 1 | $0 |
Jordan Durham Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
J2construct Inc Construction | 12/30/20 | $1,481,561 |
Barbara Sokoloff Associates Consulting | 12/30/20 | $120,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $859,296 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,427,847 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,287,143 |
| Total Program Service Revenue | $1,683,727 |
| Investment income | $11,996 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $66,797 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,198,891 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,402,880 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $265,614 |
| Compensation of current officers, directors, key employees. | $50,407 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,759,534 |
| Pension plan accruals and contributions | $29,050 |
| Other employee benefits | $79,348 |
| Payroll taxes | $171,924 |
| Fees for services: Management | $24,218 |
| Fees for services: Legal | $2,952 |
| Fees for services: Accounting | $32,265 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $442,487 |
| Advertising and promotion | $0 |
| Office expenses | $407,218 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $337,310 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $51,660 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $245,972 |
| Insurance | $30,879 |
| All other expenses | $0 |
| Total functional expenses | $7,084,893 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,700,021 |
| Savings and temporary cash investments | $516,578 |
| Pledges and grants receivable | $965,202 |
| Accounts receivable, net | $1,085,365 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $61,483 |
| Net Land, buildings, and equipment | $10,186,261 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $68,275 |
| Intangible assets | $0 |
| Other assets | $1,482,612 |
| Total assets | $16,065,797 |
| Accounts payable and accrued expenses | $1,297,846 |
| Grants payable | $0 |
| Deferred revenue | $187,925 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $27,581 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $6,222,962 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $122,744 |
| Total liabilities | $7,859,058 |
| Net assets without donor restrictions | $6,622,629 |
| Net assets with donor restrictions | $1,584,110 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $16,065,797 |
Grants Awarded
Over the last fiscal year, Olneyville Housing Corp has awarded $1,384,230 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
BUILDING FUTURES RHODE ISLAND PURPOSE: PROMOTE EQUITY, PUBLIC HEALTH AND COMMUNITY SAFETY | $7,808 |
COMMUNITY ACTION PARTNERSHIP OF PROVIDENCE PURPOSE: PROMOTE EQUITY, PUBLIC HEALTH AND COMMUNITY SAFETY | $15,453 |
FEDERAL HILL HOUSE ASSOCIATION INC PURPOSE: PROMOTE EQUITY, PUBLIC HEALTH AND COMMUNITY SAFETY | $246,720 |
GENESIS CENTER PURPOSE: PROMOTE EQUITY, PUBLIC HEALTH AND COMMUNITY SAFETY | $374,652 |
INSPIRING MINDS PURPOSE: PROMOTE EQUITY, PUBLIC HEALTH AND COMMUNITY SAFETY | $5,521 |
MANTON AVENUE PROJECT PURPOSE: PROMOTE EQUITY, PUBLIC HEALTH AND COMMUNITY SAFETY | $7,914 |