ORLANDO NEIGHBORHOOD IMPROVEMENT CORPORATION INC

EIN: 592669952 501(c)(3) Housing & Shelter

Orlando, FL

Total Revenue
$38,324,780
Total Expenses
$62,345,230
Total Assets
$70,388,736
Net Assets
$47,337,987
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1985
Legal Domicile
FL
Principal Officer
Alfred Arzuaga
Phone
4076481623
Tax Period
2023-10-01 to 2024-09-30

ORLANDO NEIGHBORHOOD IMPROVEMENT CORPORATION INC, founded in 1985, is a mid-sized nonprofit in the Housing & Shelter sector that reported $38.3M in total revenue in fiscal year 2023. Revenue surged 195% from the prior year, signaling strong growth momentum. Expenses of $62.3M exceeded revenue, resulting in a 63% operating deficit.

Mission

ONIC's primary exempt purpose is to lessen the burden of government, relieve the poor and distressed, promote social welfare and combat community deterioration. This is achieved through the development and preservation of affordable housing, community engagement initiatives, and programs that support economic empowerment, environmental sustainability, and social equity. Our efforts are focused on enhancing the quality of life for all residents, particularly those in underserved and marginalized communities.

Program Service Accomplishments

Program 1
Expenses: $8,118,521 Revenue: $8,288,381

ONIC directly operates 642 units of affordable rental housing and serves as the general partner of various entities which own an additional 829 units of affordable rental housing.

Program 2
Expenses: $781,417 Revenue: $219,986

ONIC's Resident Services supports its residents' housing stability through three core pillars: housing stability, asset building, and community building & engagement. In FY2024, Resident Services...

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ONIC's Resident Services supports its residents' housing stability through three core pillars: housing stability, asset building, and community building & engagement. In FY2024, Resident Services delivered a wide range of on-site activities across many ONIC communities, including tenant housing education, public benefits navigation, mobile food pantry distribution, financial literacy, job training, community and safety meetings, youth afterschool enrichment, access to health services, and resident leadership development. These efforts were all geared to support housing stability which resulted in 1,772 service interactions, reaching 1,804 unique individuals. Additionally, 189 volunteers contributed over 2,704 hours of service. Collectively, these activities work to keep residents stably housed and connected to resources that support housing retention and community stabilization.

Program 3
Expenses: $1,339,805 Revenue: $2,190,715

ONIC is an award winning leader in building and operating high quality affordable rental homes in Central Florida. Since 1989, ONIC has participated (as developer or partner) in 24 communities in...

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ONIC is an award winning leader in building and operating high quality affordable rental homes in Central Florida. Since 1989, ONIC has participated (as developer or partner) in 24 communities in Central Florida, representing 2856 residential units. During the reporting period, ONIC continued efforts associated with the development of two affordable housing properties.

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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 (2023)

Revenue Breakdown

Contributions & Grants $3,873,371
Program Service Revenue $10,699,082
Investment Income $23,752,327
Other Revenue $0
TOTAL REVENUE $38,324,780

Expense Breakdown

Grants Paid $51,063,750
Salaries & Benefits $2,703,775
Fundraising Expenses $250,395
Program Expenses $61,254,212
Other Expenses $8,577,705
TOTAL EXPENSES $62,345,230

Year-over-Year Comparison

2023 2022 Change
Revenue $38,324,780 $13,001,377 +1.9%
Expenses $62,345,230 $10,712,323 +4.8%
Net Income $-24,020,450 $2,289,054 -11.5%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
9
Independent Members
9
Employees
23
Volunteers
189

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
6
$462,329
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Alfred Arzuaga President 42
Officer
$139,966 $31,151 $171,117
Victoria Scott VP of finance 42
Officer
$148,112 $7,406 $155,518
Alexis Collins VP of Resident Services 42
Officer
$127,732 $7,962 $135,694
Ericka Dunlap Chair 1
Officer Director
$0 $0 $0
Cindy Colvin Vice Chair 1
Officer Director
$0 $0 $0
Milton Carroll Jr Secretary and Treasurer 1
Officer Director
$0 $0 $0
Ralph Armstead Director 1
Director
$0 $0 $0
Eddie Brown Director 1
Director
$0 $0 $0
Derek Burke Director 1
Director
$0 $0 $0
Kimberly Pizarro Cruz Director 1
Director
$0 $0 $0
Cathy Sterba Director 1
Director
$0 $0 $0
Craig Ridinger Director 1
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
2024 $38,324,780 $62,345,230 $70,388,736 $-24,020,450
2023 $13,001,377 $10,712,323 $98,597,532 $2,289,054
2022 $66,037,460 $14,419,472 $96,561,449 $51,617,988
2021 $16,159,756 $11,436,243 $57,656,701 $4,723,513
2020 $12,607,820 $9,071,732 $41,681,585 $3,536,088
2019 $9,206,728 $8,519,663 $37,309,134 $687,065
2018 $9,705,229 $8,046,874 $35,694,067 $1,658,355
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