Olive Manor

Legal name: Bromont Housing Corporation Olive Manor Senior Apartments

Nonprofit profile at a glance

EIN
954724249
IRS 990 coverage
2015–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Memphis, TN, USA
Phone
6788606833
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$354
Expenses
$341,367
Assets
$52,142
Liabilities
$72

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • MATTHEW OSBORNE (DIRECTOR/PRESIDENT)

People named in this filing

  • MATTHEW OSBORNE (DIRECTOR/PRESIDENT)
  • JOSHUA HAMMOND (DIRECTOR/TREASURER)
  • PAUL PONTE (DIRECTOR/SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide elderly and handicapped persons of limited financial means with housing facilities and services specially designed to meet their physical, social, and psychological needs.

What it reported doing in 2024

Provide housing to very low-income elderly persons or very low-income persons with disabilities in accordance with section 202 of the housing act of 1959.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 87
  • Accountability: 70
  • Sustainability: 14
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.8%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 18th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -96,331.4%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0.15; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 6.2% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: 13.6% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: -20.1% per year; rating input score 0; 7th percentile among comparable filings

Details

  • What they do: Mission, programs, and operating context captured from the official website.
  • Where the money goes: 100% of revenue deployed · 99.8% of spending went to programs
  • Governance: 6 of 6 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $341K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 6 filed schedules · includes grants
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 5 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.