Olympia Foundation

Nonprofit profile at a glance

EIN
883141753
IRS 990 coverage
2024–2025
Forms available
Form 990 2025, Form 990-EZ 2023
Location
New York, NY, USA
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$1,489,029
Expenses
$377,311
Assets
$1,704,141
Liabilities
$419,425

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • Wayne Warner (Vice President)

People named in this filing

  • David Garland (Chairman)
  • Wayne Warner (Vice President)
  • Carol Garland (Secretary Treasurer)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Providing Low to moderate income housing

What it reported doing in 2025

Renting Section 8 housing

Operating model

Revenue model
Grant-funded. 84% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 47
  • Transparency & Controls: 83
  • Accountability: 88
  • Sustainability: 81
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 24.8%; rating input score 25
  • Program expense ratio: 97.8%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 15th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 74.7%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 4.52; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 0.25; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: 75.6% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 84.1% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 55.7% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 24.8% of revenue deployed · 97.8% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $369K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2024 to 2025
  • Contacts: How to reach this organization
  • 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 — Financial Efficiency: Mission deployment rate scored 25/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.