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Old Towne Square INC EIN 26-1404499 Form 990 (PDF) Claim this org

Old Towne Square INC

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Provides safe and affordable housing for low-income seniors. For fiscal year 2025 it reported $155K in revenue, $248K in expenses, and $-833K in net assets.Pt I

Type
Public charity (501(c)(3)) · Housing
Location
Lawton, OK
Filings
5 on file (2021–2025)
Revenue
$155KFY2025
Expenses
$248K
Net assets
$-833K
People
7
Filings
5
Updates
0
More identity details & actions ⌄
EIN  26-1404499 Public charity (501(c)(3)) Lawton, OK
Form 990 (PDF)
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Size
$100K–1M
What they do
Provides safe and affordable housing for low-income seniors.
Leadership
Rita Love · Executive Director
Money in and out
$155K revenue, $248K expenses
Bottom line
90% program efficiency
Where the money goes · FY2025
Total revenue
$155K
Pt VIII · Ln 12
Total expenses
$248K
Pt IX · Ln 25
Net assets
$-833K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$93K
Where spending went · Part IX cols B–D
Program services $0.90 Management & general $0.10
Program efficiency
90%
of spending reaches programs▲ +0.7% vs prior filing year
Operating runway
14.4mo
months of highly liquid reserves at operating expense rate▼ -21% vs prior filing year
Surplus margin
-60%
revenue over expenses, this year▼ -69% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$155K
FY2025▼ -10%
Expenses
$248K
FY2025▲ +6%
Total assets
$2.5M
FY2025▼ -5%
Total liabilities
$3.3M
FY2025▼ -1%
Total revenue
$155K
Pt VIII · Ln 12
Total expenses
$248K
Pt IX · Ln 25
Net assets
$-833K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$93K
Total assetsPt X · Ln 16$2.5M
Program-expense ratioPt IX · col B90%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 46
Mission & Programs · Part III

Where the work happens

1 program service account for $223K of program spending, described in the organization's own filed words · FY2024.
01

The purpose of the organization is to own, maintain, and operate a HUD funded Section 202 housing program.

$223Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item COld Towne Square INC
EINHdr · item D26-1404499
Principal addressHdr · item CLawton, OK
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MOK
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHousing (L21)
Ruling yearIRS BMFJan 2012

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a6
Independent voting membersPt VI · Ln 1b6
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Rita Love
Executive Director
$0Pt VII · Sec A
Mark Ashton
President
$0Pt VII · Sec A
Tom Aplin
Vice-President
$0Pt VII · Sec A
$0Pt VII · Sec A
Mark McClain
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Lynn Fitz
Director
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Program service revenue$102K · 66%
Contributions & grants$51K · 33%
Investment income$2K · 1%
Program service revenue66%$102K
Contributions & grants33%$51K
Investment income1%$2K
— government grantsLn 1e$51K
Total revenueLn 12$155K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.90 Management & general $0.10
Program services90%$223K
Management & general10%$25K
Total functional expensesLn 25$248K

Balance Sheet

Part X · end of year
CashLn 1$298K
Total assetsLn 16$2.5M
Total liabilitiesLn 26$3.3M
Total net assetsLn 32$-833K
Months of cash on handcomputed14.4

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $298K · Operating expenses/yr $248K
14.4 months
Where the money goes
Program services
Program services $223K · Total expenses $248K
90%
Management & General
Management & general $25K · Total expenses $248K
10%
Fundraising
Fundraising $0 · Total expenses $248K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $51K · Total revenue $155K
33%
Government reliance
Government grants $51K · Total revenue $155K
33%
Earned-income share
Program service revenue $102K · Total revenue $155K
66%
Investment reliance
Investment income $2K · Total revenue $155K
+1%
Program self-sufficiency
Program service revenue $102K · Total expenses $248K
41%
Growth & trend
Revenue growth (YoY)
This year $155K · Prior year $173K
-10%
Revenue CAGR
FY2020 $166K · FY2024 $155K
-2%
Net-asset trend (YoY)
End of year $-833K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $155K · Expenses $248K
-60%
Liabilities-to-Assets
Total liabilities — · Total assets $2.5M
—
Net-asset ratio
Net assets $-833K · Total assets $2.5M
-34%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $2.5M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Rita Love · Reported title Executive Director · Highest reported compensation $0 · Total expenses $248K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $33K · Total expenses $248K
13%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 90%——
Overhead ratio 10%——
Fundraising cost ratio 0%——
Revenue growth -10%——
Accounting fee ratio 4%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$155K revenue · viewing · ⤓ 990 PDF
FY2024$173K revenue · ⤓ 990 PDF
FY2023$151K revenue · ⤓ 990 PDF
FY2022$150K revenue · ⤓ 990 PDF
FY2021$166K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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