Gateway Healthcare

Legal name: Obed Apartments Inc

Nonprofit profile at a glance

EIN
050422771
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Providence, RI, USA
Phone
4016676502
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Residential Mental Health Treatment

Official website

Reported finances

Revenue
$119,071
Expenses
$162,056
Assets
$791,496
Liabilities
$1,196,335

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

Leadership & pay

9 people listed

Executive titles in this filing

  • Henry Sachs III (President)

Highest reported compensation

  • Henry Sachs III (President): $612,588 total reported compensation
  • Scott DiChristofero (Former Officer): $188,030 total reported compensation

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

Overview

Mission

To help people who have qualifying mental health conditions reach a level of recovery that enables them to lead productive, independent lives.

What it reported doing in 2024

To provide low-income housing and access to support services to people with physical and psychological challenges. Obed has a total of 10 units located in a condominium complex at 154 Obed Avenue in North Providence, Rhode Island. The occupancy rate was 80% during the fiscal year covered in this return. There were 706 vacant days among the 10 units during the fiscal year covered in this return. The waiting list as of 6/30/25 consisted of 39 individuals.

Operating model

Revenue model
Grant-funded. 68% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 65% for direct work, and 35% for affiliated organizations.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 65
  • Accountability: 88
  • Sustainability: 28
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.6%; rating input score 97
  • Program expense ratio: 70.9%; rating input score 71
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87.5%; rating input score 88; 24th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -36.1%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 4.88; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 1.51; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 37.9%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: 3.3% per year; rating input score 100; 46th percentile among comparable filings
  • Revenue growth: 4.4% per year; rating input score 100; 49th percentile among comparable filings
  • Asset growth: -2.1% per year; rating input score 0; 17th percentile among comparable filings

Details

  • What they do: 9 programs and campaigns described on the official site
  • Where the money goes: 96.6% of revenue deployed · 70.9% of spending went to programs
  • Governance: 7 of 8 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $115K in reported program spending
  • Leadership: top reported pay $613K · 9 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 40 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 8/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.