OMNI DEVELOPMENT CORPORATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1986

Legal Domicile

Principal Officer

SHARON MORRIS

Phone

4014614442

Tax Period

2023-01-01 to 2023-12-31

OMNI DEVELOPMENT CORPORATION, founded in 1986, is a community nonprofit in the Housing & Shelter sector that reported $4.5M in total revenue in fiscal year 2023. Revenue surged 33% from the prior year, signaling strong growth momentum. The organization ran a surplus of $990K, a strong 22% operating margin.

Mission

DEVELOPING LOW INCOME HOUSING FOR INDIVIDUALS AND FAMILIES INCLUDING SENIOR CITIZENS AND VETERANS IN UNDERSERVED COMMUNITIES IN RI, CT AND MA.

Program Service Accomplishments

Program 1

Expenses: $3,438,816 Revenue: $4,392,484

CONSTRUCT, REHABILITATE, DEVELOP, SELL AND MANAGE LOW-INCOME HOUSING FOR LOW-INCOME INDIVIDUALS, FAMILIES, SENIOR CITIZENS AND VETERANS

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $141,012

Program Service Revenue $3,134,366

Investment Income $1,258,118

Other Revenue $0

TOTAL REVENUE $4,533,496

Expense Breakdown

Grants Paid $0

Salaries & Benefits $979,768

Fundraising Expenses $0

Program Expenses $3,438,816

Other Expenses $2,563,654

TOTAL EXPENSES $3,543,422

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,533,496	$3,396,747	+0.3%
Expenses	$3,543,422	$3,131,708	+0.1%
Net Income	$990,074	$265,039	+2.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

$210,075

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHARON MORRIS	EXECUTIVE DIRECTOR	40.00	Director	$153,480	$56,595	$210,075
EDWARD C CLIFTON	CHAIR PERSON	1.00	Officer Director	$0	$0	$0
JUDGE KEITH CARDOZA	SECRETARY	1.00	Officer Director	$0	$0	$0
SCOTT SLATER	TREASURER	1.00	Officer Director	$0	$0	$0
STEPHEN NAPOLITANO ESQ	MEMBER	1.00	Director	$0	$0	$0
ROBERT BROOKS	MEMBER	1.00	Director	$0	$0	$0
JOHN LOPES	MEMBER	1.00	Director	$0	$0	$0
LAWRENCE BROWN CPA	MEMBER	1.00	Director	$0	$0	$0
LESLIE BUNNELL	MEMBER	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$4,533,496	$3,543,422	$55,031,809	$990,074
2022	$3,396,747	$3,131,708	$46,681,745	$265,039
2021	$5,884,329	$3,280,841	$46,472,629	$2,603,488
2020	$4,572,211	$3,091,878	$44,319,328	$1,480,333
2019	$28,017,023	$3,338,018	$43,015,890	$24,679,005
2018	$3,151,688	$3,085,074	$15,216,012	$66,614