2024-11-15T07:55:09-06:00 2023-12-31 872525370 CITRIN COOPERMAN ADVISORS LLC 500 EXCHANGE STREET SUITE 9-100 PROVIDENCE RI 02903 990 2023-01-01 222721731 OMNI DEVELOPMENT CORPORATION OMNI 4014614442 810 EDDY STREET PROVIDENCE RI 02905 SHARON MORRIS EXECUTIVE DIRECTOR 4014614442 2024-11-11 1 1 GERALD IADELUCA P00247569 4014214800 2024-11-11 2023 2024-10-15 13:58:12Z SHARON MORRIS 810 EDDY STREET PROVIDENCE RI 02905 4705233 0 X WWW.OMNIDEVELOPMENTCORP.COM X 1986 RI OMNI DEVELOPMENT CORPORATION IS A NOT FOR PROFIT COMMUNITY DEVELOPMENT AND PLANNING CORPORATION CHARGED WITH THE REVITALIZATION OF NEIGHBORHOODS THROUGH THE CONSTRUCTION OF RESIDENTIAL AND COMMERCIAL REAL ESTATE. OMNI'S MISSION IS TO PROVIDE THE HIGHEST QUALITY AFFORDABLE HOUSING FOR LOW TO MODERATE INCOME FAMILIES. 8 8 8 0 0 0 51000 141012 2618128 3134366 727619 1258118 0 0 3396747 4533496 0 0 0 0 806788 979768 0 0 0 2324920 2563654 3131708 3543422 265039 990074 46681745 55031809 8683875 15919397 37997870 39112412 DEVELOPING LOW INCOME HOUSING FOR INDIVIDUALS AND FAMILIES INCLUDING SENIOR CITIZENS AND VETERANS IN UNDERSERVED COMMUNITIES IN RI, CT AND MA. 0 0 3438816 4392484 CONSTRUCT, REHABILITATE, DEVELOP, SELL AND MANAGE LOW-INCOME HOUSING FOR LOW-INCOME INDIVIDUALS, FAMILIES, SENIOR CITIZENS AND VETERANS 3438816 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 9 0 1 8 1 0 0 0 0 0 0 0 0 0 0 X 8 8 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 1 1 X X SHARON MORRIS EXECUTIVE DIRECTOR 4014614442 810 EDDY STREET PROVIDENCE RI 02905 SHARON MORRIS EXECUTIVE DIRECTOR 40.00 X 153480 0 56595 EDWARD C CLIFTON CHAIR PERSON 1.00 X X 0 0 0 JUDGE KEITH CARDOZA SECRETARY 1.00 X X 0 0 0 SCOTT SLATER TREASURER 1.00 X X 0 0 0 STEPHEN NAPOLITANO ESQ MEMBER 1.00 X 0 0 0 ROBERT BROOKS MEMBER 1.00 X 0 0 0 JOHN LOPES MEMBER 1.00 X 0 0 0 LAWRENCE BROWN CPA MEMBER 1.00 X 0 0 0 LESLIE BUNNELL MEMBER 1.00 X 0 0 0 153480 0 56595 1 0 1 0 DAVID PRESBREY ARCHITECTS 301 FRIENDSHIP ST PROVIDENCE RI 02903 ARCHITECT 204000 1 141012 141012 LOW INCOME RENTS 531110 1250523 1250523 HOUSING ASSISTANCE PRO 531110 1065315 1065315 DEVELOPER FEES 531110 527010 527010 ASSET MANAGEMENT FEES 531310 238584 238584 OTHER REVENUE 531110 52934 52934 3134366 1009855 1009855 420000 171737 248263 248263 248263 4533496 4392484 0 0 153480 153480 554752 554752 200713 200713 70823 70823 114453 114453 20337 20337 71278 71278 33692 33692 11640 11640 20988 20988 20069 20069 498800 479605 19195 6407 6407 8434 8434 464582 454421 10161 475524 475524 308791 308791 REPAIRS & MAINTENANCE 164599 91703 72896 JANITORIAL AND CLEANING 152326 152326 MISCELLANEOUS 79461 79461 SNOW & RUBBISH REMOVAL 32497 32497 79776 77422 2354 3543422 3438816 104606 0 6764706 11987448 1048941 1284949 46963 22354 35877 312999 347997 28403772 29168392 95241 126268 15371655 9002082 6603841 6369573 2483721 2608189 227875 252573 718295 2803580 46681745 55031809 1359340 1288803 7249907 14554036 74628 76558 8683875 15919397 X 35667608 36782150 2330262 2330262 37997870 39112412 46681745 55031809 990074 124468 0 X X 0 1 X 1 1 1 X 2500 61500 11750 51000 141012 267762 2500 61500 11750 51000 141012 267762 267762 267762 37364069 1.00000 1.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1049159 1049159 13214008 8454350 4759658 891146 547732 343414 217342 217342 6369573 TENANT SECURITY DEPOSITS 76658 RESTICTED DEPOSITS AND FUNDED RESERVES 2637060 ESCROW DEPOSITS 89862 2803580 TENANT SECURITY DEPOSITS 76558 76558 X 4657964 124468 124468 4533496 0 4533496 3543422 0 3543422 0 3543422 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS OTHER THAN A PRIVATE FOUNDATION. THE ORGANIZATION HAS ADOPTED THE GUIDANCE FOR "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES" TOPIC 740 OF THE FASB ASC, WHICH PRESCRIBES A COMPREHENSIVE MODEL FOR RECOGNIZING, MEASURING, PRESENTING AND DISCLOSING IN THE FINANCIAL STATEMENTS TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. AS OF DECEMBER 31, 2023, THE ORGANIZATIONS TAX RETURNS GENERALLY REMAIN OPEN FOR EXAMINATION FOR 3 YEARS FROM THE DATE FILED WITH EACH TAXING JURISDICTION. AT DECEMBER 31, 2023, MANAGEMENT BELIEVES NO SUCH PROVISIONS FOR UNCERTAIN TAX POSITIONS ARE NECESSARY. X 1 1 X 0 0 0 0 0 0 0 0 0 SHARON MORRIS EXECUTIVE DIRECTOR 153480 0 0 0 0 0 17859 0 38736 0 210075 0 0 0 PART I, LINE 1A THE TRAVEL ALLOWANCE FOR THE EXECUTIVE DIRECTOR IS $2,700 AND IS INCLUDED IN GROSS WAGES OF EXECUTIVE DIRECTOR. PART I, LINE 3 THE BOARD OF DIRECTORS APPROVES THE EXECUTIVE DIRECTOR'S SALARY. HDC LIMITED PARTNERSHIP CONTROLLED ENTITY WORKING CAPITAL X 1500 1500 0 1 0 OMNI PROSPECT I MEMBER INC CONTROLLED ENTITY WORKING CAPITAL X 987 987 0 1 0 OMNI GOVERNOR INC RELATED ENTITY LEASED VEHICLE X 7500 7500 0 1 0 JOSEPH CAFFEY APARTMENTS LLC CONTROLLED ENTITIY PREDEVELOPMENT COSTS X 251994 19444 0 1 0 JORDAN CAFFEY TOWNHOMES LLC CONTROLLED ENTITIY PREDEVELOPMENT COSTS X 251994 19112 0 1 0 OMNI FRIENDSHIP LP RELATED ENTITY LEASED VEHICLE X 7500 4750 0 1 0 TRIO PARTNERS OWNER LLC RELATED ENTITY NET METERING COSTS X 251603 251603 0 1 0 OMNI WASHINGTON RELATED ENTITY NET METERING COSTS X 38763 38763 0 1 0 OMNI NEWARK RELATED ENTITY PREDEVELOPMENT COSTS X 4338 4338 0 1 0 347997 FORM 990, PART VI, SECTION A, LINE 3 THE RESIDENTAL RENTAL PROPERTIES ARE HUD REGULATED PROPERTIES AND THE ORGANIZATION HAS HISTORICALLY HIRED A HUD APPROVED MANAGEMENT AGENT TO MANAGE THE DAY TO DAY OPERATIONS OF THE PROPERTIES. THIS INCLUDES DEALING WITH TENANT ISSUES, TENANT CERTIFICATIONS, RECERTIFICATIONS, POLICIES AND PROCEDURES, AND ALL ACCOUNTING PROCEDURES AND CONTROLS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE PRESIDENT AND THE CONTROLLER OF THE ORGANIZATION. ON BEHALF OF THE BOARD OF DIRECTORS, THE TREASURER REVIEWS THE FORM 990 AND PROPOSES ANY NECESSARY CHANGES AND APPROVES ITS CONTENTS BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS THE ORGANIZATION REVIEWS THE CONFLICT OF INTEREST POLICY WITH EACH EMPLOYEE. FORM 990, PART VI, SECTION C, LINE 18 THESE DOCUMENTS ARE AVAILABLE UPON REQUEST AND ARE AVAILABLE ON GUIDESTAR'S WEBSITE. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE AVAILABLE UPON REQUEST. PART XIII LINE 2C NO CHANGE IN THE PROCESS HAS OCCURED FROM THE PRIOR YEAR. 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