Overview
What is Olmsted Gardens Inc?
Olmsted Gardens Inc is a nonprofit organization based in Boston, Massachusetts, specifically at 185 Dartmouth Street, with a focus on addressing housing needs. Their primary mission is to construct, own, and operate 52 units of affordable housing for individuals of low income in Providence, Rhode Island. This initiative aims to provide much-needed shelter and housing solutions for those in need, contributing to the broader community and addressing a pressing social concern.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86% (Three-Star out of Four Star rating)
Olmsted Gardens Inc has earned a solid Three-Star rating from Charity Navigator, reflecting a strong emphasis on accountability and finance. The organization scored 86% overall, with this score derived from its Accountability & Finance metrics. The high score indicates that the charity is effectively managed and is transparent in its financial dealings, which is critical for donor trust.
One notable strength of Olmsted Gardens Inc is its governance structure, featuring a majority of independent board members, which is essential for conflict-free decision-making. The charity has also demonstrated fiscal responsibility with a remarkably low liabilities-to-assets ratio of 4.09% and a high program expense ratio of 88.92%, suggesting that a substantial portion of its resources is directed towards its mission rather than administrative costs.
While the charity maintains a strong overall performance in these key areas, the rating is based solely on the Accountability & Finance beacon. This focus means that other aspects, such as program impact or community feedback, are not reflected in the score, indicating a limitation in understanding the full scope of the organization’s effectiveness. Nonetheless, the financial health and governance practices of Olmsted Gardens Inc are commendable.
This AI summary has been generated from information found on Charity Navigator.
Is Olmsted Gardens Inc legitimate?
Olmsted Gardens Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Olmsted Gardens Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $141,008
For more financial information, click here
What is the mission statement of Olmsted Gardens Inc?
Olmsted Gardens Inc, as an organization, is committed to constructing, owning, and operating 52 units of affordable housing for individuals of low income. This mission aims to provide a living solution for those who may not otherwise have access to affordable housing. By undertaking this project, Olmsted Gardens Inc contributes to the betterment of the community by offering affordable living options, thereby promoting social equality and inclusivity.
Who is the CEO of Olmsted Gardens Inc?
D Morgan Wilson is the Director of Olmsted Gardens Inc.
What is the revenue of Olmsted Gardens Inc?
Olmsted Gardens Inc's revenue in 2023 was $700,826.
Who are the executives of Olmsted Gardens Inc and what are their salaries?
Here are 10 key members and their salaries:
- Compensation: $0
- Related: $270,969
- Other: $62,814
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $394,551
- Other: $80,255
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $432,463
- Other: $79,071
- Compensation: $0
- Related: $241,034
- Other: $57,099
- Compensation: $0
- Related: $322,487
- Other: $52,886
Where can I find the form 990 for Olmsted Gardens Inc?
Olmsted Gardens Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Olmsted Gardens Inc
Olmsted Gardens Inc is committed to making a significant impact in the housing sector. Their primary mission is to construct, own, and operate 52 units of affordable housing for individuals with low income. This nonprofit organization is dedicated to providing a living space that is both affordable and accessible for those who may otherwise struggle to secure suitable accommodation. By taking on this endeavor, Olmsted Gardens Inc is contributing to the broader goal of ensuring equitable housing opportunities for all, thereby fostering a more inclusive and supportive community.
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Impact
July, 2024
Olmsted Gardens Inc's impact is significant in providing affordable housing for low-income individuals in Providence, RI. By constructing, owning, and operating 52 units of affordable housing, they are addressing a critical need in the community. This initiative helps improve the quality of life for individuals and families who may struggle to find suitable and affordable housing options. Olmsted Gardens Inc's work contributes to creating a more inclusive and supportive environment for those in need of assistance, ultimately making a positive difference in the lives of many.
This information is meant to be a general summary of Olmsted Gardens Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $1,317
- Program Service Revenue: $699,509
- Gross Receipts: $700,826
Assets and Liabilities:
- Total Assets: $3,163,151
- Total Liabilities: $129,818
- Net Assets: $3,033,333
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SECTION 8 SUBSIDY
Revenue
$474,619
RENTAL INCOME
Revenue
$220,952
LAUNDRY AND VENDING
Revenue
$3,938
Organization Details
Founding Year
1999
Phone
(857) 221-8600Principal Officer
D Morgan Wilson
Main Address
185 DARTMOUTH STREET, BOSTON, MA, 02116
NTEE Category
Code: P75 - Human services
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