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Oak Woods INC

Tax-deductible

Monmouth Junction, NJ501(c)(3)Since 1997HousingEIN 22-3496040Revenue $1.2M in FY2025

On file with the IRSsouthbrunswickseniorhousing.org700 Woods Lane, 08852-2177 · Monmouth Junction, NJTax-exempt since Sep 1997Publicly supported charity — 170(b)(1)(A)(vi)

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Providing safe, comfortable housing for income eligible seniors in a caring community environment.

501(c)(3) charity; gifts are tax-deductible.
65¢ 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
4 of 6
filings with a surplus
Average surplus $24K a year · 2% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
65%
of spending
Worth a look: 65% of spending went to programs; under 65%.
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
$94K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 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
+6% vs prior year
Spent
$1.1M
To programs
65%
Net assets
$5.1M
By yearFY2020–FY2025
Revenue
$1.2M
FY2025▲ +6%
Tap a bar for its year
Revenue by fiscal year
FY2020$812K
FY2021$827K
FY2022$1.2M
FY2023$1.1M
FY2024$1.2M
FY2025$1.2M
Expenses
$1.1M
FY2025▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$968K
FY2021$986K
FY2022$986K
FY2023$1.0M
FY2024$1.1M
FY2025$1.1M
Net assets
$5.1M
FY2025▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2020$4.8M
FY2021$4.6M
FY2022$4.8M
FY2023$4.9M
FY2024$5.0M
FY2025$5.1M

From the FY2025 Form 990 · 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 Sep 1997.

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

Where the money goes

65 cents of each dollar spent went to programs.

Program services 65% · $744K Management & general 35% · $406K

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

13 people listed on the 990.

Part VII, Section A · reportable compensation
Gary Wesalo
Treasurer
$0Pt VII · Sec A
Anne Luck
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Alan Kane
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
See Oak Woods 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 15aYes

Programs and updates

Provides affordable housing for 74 elderly residents in a HUD-financed project.

Questions for Oak Woods INC

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Provided by the organization

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1 program · $744K · in their own filed words · FY2025
01

The organization owns and operates a section 202 hud financed multifamily housing project for the elderly consisting of 74 units.

$744Kprogram 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
$1.2M
Ln 12
Fees for servicesLn 2g$938K
Gifts and grantsLn 1h$282K
Investment incomeLn 3$11K
Money outPt IX
$1.1M
Ln 25
Programscol B$744K
Managementcol C$406K
Owns and owesPt X
$5.1M
net assets · Ln 32
Cash and savingsLn 1–2$11K
Total assetsLn 16$5.2M
LiabilitiesLn 26$94K
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$282K
Government grantsLn 1e$282K
Fees for servicesLn 2g$938K
Investment incomeLn 3$11K
Other incomeLn 4–11$2K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$1K
SavingsLn 2$9K
Cash and savings togetherLn 1–2$11K
Land, buildings, equipmentLn 10c$4.6M
Other assetsLn 15$515K
Total assetsLn 16$5.2M
LiabilitiesLn 26$94K
Net assetsLn 32$5.1M
OperationsPt I, VI
EmployeesI 57
VolunteersI 60
Fiscal year endsHeaderDecember
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$50K$11K
Land, buildings, equipmentLn 10c$4.5M$4.6M
Total assetsLn 16$5.1M$5.2M
LiabilitiesLn 26$92K$94K
Net assetsLn 32$5.0M$5.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$84K$5K$80K
Other salaries and wagesLn 7$249K$78K$171K
Pension plan contributionsLn 8$9K$9K
Other employee benefitsLn 9$73K$73K
Payroll taxesLn 10$35K$35K
Accounting feesLn 11c$48K$48K
Advertising and promotionLn 12$236$236
Office expensesLn 13$28K$28K
OccupancyLn 16$169K$169K
Conferences, conventions and meetingsLn 19$7K$7K
Depreciation, depletion and amortizationLn 22$235K$235K
InsuranceLn 23$43K$43K
Other expenses (24a–d)Ln 24$151K$81K$70K
All other expensesLn 24e$17K$16K$1K
Total functional expensesLn 25$1.1M$744K$406K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $1.2M$1.1M$84K$5.1M 990 PDF
FY2024 $1.2M$1.1M$92K$5.0M 990 PDF
FY2023 $1.1M$1.0M$61K$4.9M 990 PDF
FY2022 $1.2M$986K$220K$4.8M 990 PDF
FY2021 $827K$986K−$159K$4.6M 990 PDF
FY2020 $812K$968K−$156K$4.8M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $1,233,144 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $257,368$282,189
I-9 Program service revenuePrior year $895,503$938,403
I-10 Investment incomePrior year $10,730$11,018
I-11 Other revenuePrior year $1,535$1,534
I-12 Total revenuePrior year $1,165,136$1,233,144
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 $405,489$451,003
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $668,134$698,524
I-18 Total expensesPrior year $1,073,623$1,149,527
I-19 Revenue less expensesPrior year $91,513$83,617
Part VI · Governance 12 of 12 board members independent, no flags
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,233,144 across 6 lines filed
VIII-1e Government grants$282,189
VIII-1h Total contributions, gifts and grants$282,189
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $938,403$938,403
VIII-3 Investment incomeExcluded from tax $11,018$11,018
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $1,534$1,534
VIII-12 Total revenueRelated to mission $938,403 · Unrelated business $0 · Excluded from tax $12,552$1,233,144
Part IX · Statement of functional expenses $1,149,527 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $4,589 · Management $79,751$84,340
IX-7 Other salaries and wagesPrograms $78,383 · Management $170,767$249,150
IX-8 Pension plan contributionsPrograms $8,787$8,787
IX-9 Other employee benefitsPrograms $73,231$73,231
IX-10 Payroll taxesPrograms $35,495$35,495
IX-11c Accounting feesManagement $48,217$48,217
IX-12 Advertising and promotionManagement $236$236
IX-13 Office expensesManagement $27,962$27,962
IX-16 OccupancyPrograms $168,551$168,551
IX-19 Conferences, conventions and meetingsManagement $7,203$7,203
IX-22 Depreciation, depletion and amortizationPrograms $234,675$234,675
IX-23 InsurancePrograms $43,409$43,409
IX-24 Other expenses (24a–d)Programs $80,857 · Management $70,263$151,120
IX-24e All other expensesPrograms $15,741 · Management $1,410$17,151
IX-25 Total functional expensesPrograms $743,718 · Management $405,809 · Fundraising $0$1,149,527
Part X · Balance sheet $5,171,465 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $34,501$1,284
X-2 Savings and temporary cash investmentsStart of year $15,361$9,383
X-4 Accounts receivableStart of year $797$4,711
X-9 Prepaid expenses and deferred chargesStart of year $18,738$27,239
X-10c Land, buildings and equipment, netStart of year $4,545,886$4,614,258
X-15 Other assetsStart of year $467,031$514,590
X-16 Total assetsStart of year $5,082,314$5,171,465
X-17 Accounts payable and accrued expensesStart of year $60,829$64,011
X-26 Total liabilitiesStart of year $91,963$94,049
X-27 Net assets without donor restrictionsStart of year $4,990,351$5,077,416
X-32 Total net assets or fund balancesStart of year $4,990,351$5,077,416
X-33 Total liabilities and net assetsStart of year $5,082,314$5,171,465
Part XI · Reconciliation of net assets $5,077,416 net assets at year end
XI-1 Total revenue$1,233,144
XI-2 Total expenses$1,149,527
XI-3 Revenue less expenses$83,617
XI-4 Net assets at start of year$4,990,351
XI-5 Net unrealized gains (losses) on investments$3,448
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,077,416

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

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