Olneyville Housing Corp

Analysis

Olneyville Housing Corp is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in February 1990, 36 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Olneyville Housing Corp reported income of $10.9m and spending of $6.2m, leaving 44% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.3m to $10.9m (+379%), an average of +48% a year. The sharpest change came in the year to December 2020, when income rose by 81%. Over the whole period it spent 72% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Olneyville Housing Corp sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within RI. Charities of a similar size with the same main cause include Home and Community Options Inc ($10.9m), Isles Inc ($11.0m) and Heartland Senior Living ($10.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% and program service revenue 9.0% of the total. Compensation of current officers, directors and key employees was $270k (4.4% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $25.9m against liabilities of $13.6m, net assets of $12.3m. It reported 41 employees.