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Olmsted Gardens INC

Tax-deductible

Boston, MA501(c)(3)Human Services EIN 05-0508869Revenue $1.2M in FY2025Latest return filed Nov 4, 2025

On file with the IRS33 Arch Street 10th Floor 1000, 02110-1424 · Boston, MATax-exempt since Aug 2000Publicly supported — 509(a)(2)

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To construct, own and operate 52 units of affordable housing for persons of low income in providence, RI.

501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

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
1 of 5
filings with a surplus
Average deficit $54K a year · 7% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$114K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 2 voting members
Looks good: 2 of 2 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
+47% vs prior year
Spent
$1.0M
To programs
87%
Net assets
$3.1M
By yearFY2021–FY2025
Revenue
$1.2M
FY2025▲ +47%
Tap a bar for its year
Revenue by fiscal year
FY2021$673K
FY2022$677K
FY2023$701K
FY2024$784K
FY2025$1.2M
Expenses
$1.0M
FY2025▲ +19%
Tap a bar for its year
Expenses by fiscal year
FY2021$751K
FY2022$812K
FY2023$839K
FY2024$844K
FY2025$1.0M
Net assets
$3.1M
FY2025▲ +5%
Tap a bar for its year
Net assets by fiscal year
FY2021$3.3M
FY2022$3.2M
FY2023$3.0M
FY2024$3.0M
FY2025$3.1M

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

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2000.

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

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $879K Management & general 13% · $129K

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

Something off? Claim to add context

Who runs it and what they're paid

2 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
D Morgan Wilson
Director, Treasurer, Secre
$0Pt VII · Sec A
Thomas J Buonopane
President, Director
$0Pt VII · Sec A
See Olmsted Gardens INC executive salaries →

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

Builds and manages affordable housing for low-income individuals.

Questions for Olmsted Gardens INC

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1 program · $879K · in their own filed words · FY2024
01

To construct, own and operate 52 units of affordable housing for persons of low income in providence, ri.

$879Kprogram expense

Funders

Who pays for it.

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

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jun 2025 · $5.5M federal money spent
Supportive Housing for the ElderlyDepartment of Housing and Urban Development · ALN 14.157 · Direct$4.6M
Project Rental Assistance Demonstration (pra Demo) Program of Section 811 Supportive Housing for Persons with DisabilitiesDepartment of Housing and Urban Development · ALN 14.326 · Direct$897K

The auditor reported no findings.

Year ending Jun 2024 · $5.1M federal money spent
Supportive Housing for the ElderlyDepartment of Housing and Urban Development · ALN 14.157 · Direct$4.6M
Project Rental Assistance Demonstration (pra Demo) Program of Section 811 Supportive Housing for Persons with DisabilitiesDepartment of Housing and Urban Development · ALN 14.326 · Direct$543K

The auditor reported no findings.

Year ending Jun 2023 · $5.1M federal money spent
Supportive Housing for the ElderlyDepartment of Housing and Urban Development · ALN 14.157 · Direct$4.6M
Project Rental Assistance Demonstration (pra Demo) Program of Section 811 Supportive Housing for Persons with DisabilitiesDepartment of Housing and Urban Development · ALN 14.326 · Direct$475K

The auditor reported no findings.

Year ending Jun 2022 · $5.0M federal money spent
Supportive Housing for the ElderlyDepartment of Housing and Urban Development · ALN 14.157 · Direct$4.6M
Project Rental Assistance Demonstration (pra Demo) Program of Section 811 Supportive Housing for Persons with DisabilitiesDepartment of Housing and Urban Development · ALN 14.326 · Direct$425K

The auditor reported no findings.

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.2M
Ln 12
Fees for servicesLn 2g$1.1M
Investment incomeLn 3$2K
Money outPt IX
$1.0M
Ln 25
Programscol B$879K
Managementcol C$129K
Owns and owesPt X
$3.1M
net assets · Ln 32
Cash and savingsLn 1–2$9K
Total assetsLn 16$3.2M
LiabilitiesLn 26$114K
PeoplePt VI, VII
2
listed · VII A
PaidVII A0
Voting boardVI 1a2
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.1M
Investment incomeLn 3$2K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$9K
Cash and savings togetherLn 1–2$9K
Land, buildings, equipmentLn 10c$2.5M
Other assetsLn 15$662K
Total assetsLn 16$3.2M
LiabilitiesLn 26$114K
Net assetsLn 32$3.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$3K$9K
Land, buildings, equipmentLn 10c$2.5M$2.5M
Total assetsLn 16$3.1M$3.2M
LiabilitiesLn 26$108K$114K
Net assetsLn 32$3.0M$3.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$131K$131K
Other employee benefitsLn 9$31K$31K
Payroll taxesLn 10$10K$10K
Management feesLn 11a$62K$62K
Legal feesLn 11b$130$130
Accounting feesLn 11c$12K$12K
Office expensesLn 13$48K$48K
Depreciation, depletion and amortizationLn 22$136K$136K
InsuranceLn 23$55K$55K
Other expenses (24a–d)Ln 24$524K$524K
Total functional expensesLn 25$1.0M$879K$129K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest ViewingFiled with the IRS Nov 4, 2025 $1.2M$1.0M$142K$3.1M 990 PDF
FY2024Filed with the IRS Oct 24, 2024 $784K$844K−$61K$3.0M 990 PDF
FY2023Filed with the IRS Sep 26, 2023 $701K$839K−$138K$3.0M 990 PDF
FY2022Filed with the IRS Oct 26, 2022 $677K$812K−$135K$3.2M 990 PDF
FY2021Filed with the IRS Nov 17, 2021 $673K$751K−$78K$3.3M 990 PDF

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 $1,150,556 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $781,319$1,148,808
I-10 Investment incomePrior year $2,212$1,748
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $783,531$1,150,556
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 $166,140$171,257
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $678,110$836,978
I-18 Total expensesPrior year $844,250$1,008,235
I-19 Revenue less expensesPrior year −$60,719$142,321
Part VI · Governance 2 of 2 board members independent, 3 to look at
VI-1a Voting members of the governing body2
VI-1b Independent voting members2
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
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
Part VIII · Statement of revenue $1,150,556 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,148,808$1,148,808
VIII-3 Investment incomeExcluded from tax $1,748$1,748
VIII-12 Total revenueRelated to mission $1,148,808 · Unrelated business $0 · Excluded from tax $1,748$1,150,556
Part IX · Statement of functional expenses $1,008,235 across 10 lines filed
IX-7 Other salaries and wagesPrograms $131,198$131,198
IX-9 Other employee benefitsPrograms $30,504$30,504
IX-10 Payroll taxesPrograms $9,555$9,555
IX-11a Management feesManagement $61,949$61,949
IX-11b Legal feesManagement $130$130
IX-11c Accounting feesManagement $11,950$11,950
IX-13 Office expensesPrograms $47,997$47,997
IX-22 Depreciation, depletion and amortizationPrograms $136,230$136,230
IX-23 InsuranceManagement $54,920$54,920
IX-24 Other expenses (24a–d)Programs $523,802$523,802
IX-25 Total functional expensesPrograms $879,286 · Management $128,949 · Fundraising $0$1,008,235
Part X · Balance sheet $3,228,728 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $2,844$9,472
X-4 Accounts receivableStart of year $1,122$390
X-9 Prepaid expenses and deferred chargesStart of year $42,759$44,830
X-10c Land, buildings and equipment, netStart of year $2,548,076$2,512,191
X-15 Other assetsStart of year $485,992$661,845
X-16 Total assetsStart of year $3,080,793$3,228,728
X-17 Accounts payable and accrued expensesStart of year $91,295$96,199
X-19 Deferred revenueStart of year $710$1,117
X-25 Other liabilitiesStart of year $16,174$16,477
X-26 Total liabilitiesStart of year $108,179$113,793
X-27 Net assets without donor restrictionsStart of year $2,972,614$3,114,935
X-32 Total net assets or fund balancesStart of year $2,972,614$3,114,935
X-33 Total liabilities and net assetsStart of year $3,080,793$3,228,728
Part XI · Reconciliation of net assets $3,114,935 net assets at year end
XI-1 Total revenue$1,150,556
XI-2 Total expenses$1,008,235
XI-3 Revenue less expenses$142,321
XI-4 Net assets at start of year$2,972,614
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,114,935

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

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