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Plaza Esperanza INC

Tax-deductible

Providence, RI501(c)(3)Since 1998Housing EIN 05-0495603Revenue $540K in FY2025

On file with the IRSwdchoc.org861a Broad St, 02907-1768 · Providence, RITax-exempt since Mar 1998Publicly supported charity — 170(b)(1)(A)(vi)

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To provide affordable housing in west warwick, rhode island for senior citizens and the disabled under section 202 of the national affordable housing act.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $169K a year · 38% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$5.1M
236% of total assets
Concern: liabilities are 236% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$540K
+29% vs prior year
Spent
$721K
To programs
84%
Net assets
−$3.0M
By yearFY2021–FY2025
Revenue
$540K
FY2025▲ +29%
Tap a bar for its year
Revenue by fiscal year
FY2021$431K
FY2022$441K
FY2023$429K
FY2024$417K
FY2025$540K
Expenses
$721K
FY2025▲ +14%
Tap a bar for its year
Expenses by fiscal year
FY2021$560K
FY2022$597K
FY2023$593K
FY2024$635K
FY2025$721K
Net assets
−$3.0M
FY2025▼ -7%
Tap a bar for its year
Net assets by fiscal year
FY2021−$2.2M
FY2022−$2.4M
FY2023−$2.6M
FY2024−$2.8M
FY2025−$3.0M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1998.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $606K Management & general 16% · $115K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Frank Shea
President
$0Pt VII · Sec A
Vickie Walters
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Larry Kellam
Treasurer
$0Pt VII · Sec A
See Plaza Esperanza INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers affordable housing for seniors and disabled individuals in West Warwick, RI.

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Provided by the organization

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1 program · $606K · in their own filed words · FY2024
01

Provide affordable housing in west warwick, rhode island for senior citizens and the disabled under section 202 of the national affordable housing act. Own and operate a 56 unit apartment complex in west warwick, ri for low income elderly and disabled individuals.

$606Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$540K
Ln 12
Fees for servicesLn 2g$278K
Gifts and grantsLn 1h$262K
Investment incomeLn 3$138
Money outPt IX
$721K
Ln 25
Programscol B$606K
Managementcol C$115K
Owns and owesPt X
−$3.0M
net assets · Ln 32
Cash and savingsLn 1–2$79K
Total assetsLn 16$2.2M
LiabilitiesLn 26$5.1M
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$262K
Government grantsLn 1e$262K
Fees for servicesLn 2g$278K
Investment incomeLn 3$138
Total revenueLn 12$540K
Assets in detailPt X, end of year
CashLn 1$5K
SavingsLn 2$74K
Cash and savings togetherLn 1–2$79K
Land, buildings, equipmentLn 10c$2.1M
Total assetsLn 16$2.2M
LiabilitiesLn 26$5.1M
Net assetsLn 32−$3.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$57K$79K
Land, buildings, equipmentLn 10c$2.2M$2.1M
Total assetsLn 16$2.3M$2.2M
LiabilitiesLn 26$5.1M$5.1M
Net assetsLn 32−$2.8M−$3.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$179K$179K
Management feesLn 11a$50K$50K
Accounting feesLn 11c$26K$26K
Other fees for servicesLn 11g$8K$8K
Office expensesLn 13$13K$13K
OccupancyLn 16$209K$209K
TravelLn 17$7K$7K
Depreciation, depletion and amortizationLn 22$153K$153K
InsuranceLn 23$54K$54K
Other expenses (24a–d)Ln 24$23K$11K$12K
Total functional expensesLn 25$721K$606K$115K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $540K$721K−$181K−$3.0M 990 PDF
FY2024 $417K$635K−$218K−$2.8M 990 PDF
FY2023 $429K$593K−$163K−$2.6M 990 PDF
FY2022 $441K$597K−$156K−$2.4M 990 PDF
FY2021 $431K$560K−$129K−$2.2M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $540,016 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $165,059$262,370
I-9 Program service revenuePrior year $250,368$277,508
I-10 Investment incomePrior year $1,760$138
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $417,187$540,016
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $143,439$179,093
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $491,393$541,960
I-18 Total expensesPrior year $634,832$721,053
I-19 Revenue less expensesPrior year −$217,645−$181,037
Part VI · Governance 7 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $540,016 across 5 lines filed
VIII-1e Government grants$262,370
VIII-1h Total contributions, gifts and grants$262,370
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $277,508$277,508
VIII-3 Investment incomeExcluded from tax $138$138
VIII-12 Total revenueRelated to mission $277,508 · Unrelated business $0 · Excluded from tax $138$540,016
Part IX · Statement of functional expenses $721,053 across 10 lines filed
IX-7 Other salaries and wagesPrograms $179,093$179,093
IX-11a Management feesManagement $50,315$50,315
IX-11c Accounting feesManagement $25,970$25,970
IX-11g Other fees for servicesManagement $7,961$7,961
IX-13 Office expensesManagement $12,670$12,670
IX-16 OccupancyPrograms $209,497$209,497
IX-17 TravelManagement $6,557$6,557
IX-22 Depreciation, depletion and amortizationPrograms $152,791$152,791
IX-23 InsurancePrograms $53,545$53,545
IX-24 Other expenses (24a–d)Programs $11,070 · Management $11,584$22,654
IX-25 Total functional expensesPrograms $605,996 · Management $115,057 · Fundraising $0$721,053
Part X · Balance sheet $2,174,574 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $4,308$4,976
X-2 Savings and temporary cash investmentsStart of year $52,822$73,723
X-4 Accounts receivableStart of year $1,370$2,914
X-9 Prepaid expenses and deferred chargesStart of year $37,060$20,273
X-10c Land, buildings and equipment, netStart of year $2,215,981$2,072,688
X-16 Total assetsStart of year $2,311,541$2,174,574
X-17 Accounts payable and accrued expensesStart of year $235,541$279,787
X-24 Unsecured notes and loans payableStart of year $4,839,651$4,839,651
X-25 Other liabilitiesStart of year $19,310$19,134
X-26 Total liabilitiesStart of year $5,094,502$5,138,572
X-27 Net assets without donor restrictionsStart of year −$2,782,961−$2,963,998
X-32 Total net assets or fund balancesStart of year −$2,782,961−$2,963,998
X-33 Total liabilities and net assetsStart of year $2,311,541$2,174,574
Part XI · Reconciliation of net assets −$2,963,998 net assets at year end
XI-1 Total revenue$540,016
XI-2 Total expenses$721,053
XI-3 Revenue less expenses−$181,037
XI-4 Net assets at start of year−$2,782,961
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$2,963,998

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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