Olmsted Residence Corporation

EIN: 341560249 501(c)(3) Human Services

Olmsted Township, OH

Total Revenue
$9,426,605
Total Expenses
$4,258,150
Total Assets
$13,978,277
Net Assets
$13,607,952
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1987
Legal Domicile
OH
Principal Officer
Richard M Boyson Jr
Phone
4405404700
Tax Period
2024-07-01 to 2025-06-30

Olmsted Residence Corporation, founded in 1987, is a community nonprofit in the Human Services sector that reported $9.4M in total revenue in fiscal year 2024. The organization ran a surplus of $5.2M, a strong 55% operating margin.

Mission

Olmsted Residence Corp is an Eliza Jennings Independent Living community with 176 apartments and villas for older adults. This community offers a myriad of inclusive amenities and services including fine dining, maintenance, and housekeeping.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $9,421,299
Investment Income $0
Other Revenue $5,306
TOTAL REVENUE $9,426,605

Expense Breakdown

Grants Paid $0
Salaries & Benefits $722,656
Fundraising Expenses $0
Program Expenses $4,065,218
Other Expenses $3,535,494
TOTAL EXPENSES $4,258,150

Year-over-Year Comparison

2024 2023 Change
Revenue $9,426,605 $8,905,780 +0.1%
Expenses $4,258,150 $4,352,283 0.0%
Net Income $5,168,455 $4,553,497 +0.1%
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

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Liquidity & Cash Position

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Governance

Voting Members
15
Independent Members
14
Employees
N/A
Volunteers
103

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
5
$1,143,170
Total Directors
15
$431,435
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Richard M Boyson Jr President & CEO 0.00
Officer Director
$0 $49,757 $431,435
Kathleen M Shields CFO 0.00
Officer
$0 $20,602 $237,319
Jennifer Griveas VP of Legal 0.00
Officer
$0 $30,167 $227,318
Michael Gray CIO 0.00
Officer
$0 $8,486 $137,322
Kimberly Hernandez VP of HR 0.00
Officer
$0 $1,154 $109,776
Richard L Fletcher Trustee 0.00
Director
$0 $0 $0
Alayne J Fodor Trustee 0.00
Director
$0 $0 $0
Richard L Fox Trustee 0.00
Director
$0 $0 $0
Glenn S Krassen Secretary 0.00
Director
$0 $0 $0
Margaret Hartney Trustee 0.00
Director
$0 $0 $0
James Rogerson Trustee 0.00
Director
$0 $0 $0
Patricia M Scanlon Trustee 0.00
Director
$0 $0 $0
Sheryl L Sereda Trustee 0.00
Director
$0 $0 $0
Terrie Shrock Trustee 0.00
Director
$0 $0 $0
John P Stoner Trustee 0.00
Director
$0 $0 $0
Allen R Tracy Treasurer 0.00
Director
$0 $0 $0
Rick Weigle Jr Trustee 0.00
Director
$0 $0 $0
Margaret G Weitzel Chair 0.00
Director
$0 $0 $0
Hilton Young Trustee 0.00
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
2025 $9,426,605 $4,258,150 $13,978,277 $5,168,455
2024 No data No data No data No data
2023 $8,386,739 $4,193,572 $13,937,996 $4,193,167
2022 $8,037,578 $2,958,927 $14,665,008 $5,078,651
2021 $7,691,504 $2,712,454 $15,115,245 $4,979,050
2020 $7,993,816 $2,939,072 $12,045,097 $5,054,744
2019 $8,246,775 $3,349,376 $11,245,134 $4,897,399
2018 $7,612,385 $3,332,666 $124,600,369 $4,279,719
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