Omni Development Corporation
Omni Development Corporation: Strong Asset Growth, Consistent Program Spending
EIN: 222721731 · Providence, RI · NTEE: L20Z · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $4.1M |
| Total Expenses | $3.5M |
| Program Spending | 80% |
| Net Assets | $39.1M |
| Transparency Score | 85/100 |
Is Omni Development Corporation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Omni Development Corporation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Omni Development Corporation
Omni Development Corporation (EIN: 222721731) is a nonprofit organization based in Providence, RI, classified under NTEE code L20Z. The organization reported total revenue of $4.1M and total assets of $56.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Omni Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Omni Development Corporation is a mid-size nonprofit that has been operating for 40 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 1.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.5M |
| Total Expenses | $3.5M |
| Surplus / Deficit | +$990K |
| Total Assets | $55.0M |
| Total Liabilities | $15.9M |
| Net Assets | $39.1M |
| Operating Margin | 21.8% |
| Debt-to-Asset Ratio | 28.9% |
| Months of Reserves | 186.4 months |
Financial Health Grade: A
In 2023, Omni Development Corporation reported a surplus of $990K with revenue exceeding expenses, holds 186.4 months of operating reserves (strong position), has a debt-to-asset ratio of 28.9% (moderate leverage).
Financial Trends
Over 14 years of filings (2010–2023), Omni Development Corporation's revenue has grown at a compound annual growth rate (CAGR) of 1.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +33.5% | +13.1% | +17.9% |
| 2022 | -42.3% | -4.5% | +0.4% |
| 2021 | +28.7% | +6.1% | +4.9% |
| 2020 | -83.7% | -7.4% | +3.0% |
| 2019 | +789.0% | +8.2% | +182.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1986 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Omni Development Corporation with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Omni Development Corporation allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $990K, with revenue exceeding expenses.
- Debt-to-asset ratio: 28.9%.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided summary data, preventing a specific assessment of its proportion relative to total expenses or revenue.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Strengths
The following positive indicators were identified for Omni Development Corporation:
- Significant asset growth from $15.2M in 2018 to $56.4M in 2023, indicating strong financial health and expansion.
- Consistent program spending relative to total expenses, with expenses generally around $3M-$3.5M annually.
- Low liability-to-asset ratio, suggesting good financial stability.
Frequently Asked Questions about Omni Development Corporation
Is Omni Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Omni Development Corporation (EIN: 222721731) appears legitimate. Mission Score: 85/100. 0 red flags identified, 3 strengths noted.
How does Omni Development Corporation spend its money?
Omni Development Corporation directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Omni Development Corporation tax-deductible?
Omni Development Corporation is registered as a tax-exempt nonprofit (EIN: 222721731). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Omni Development Corporation's spending goes to programs?
Omni Development Corporation directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Omni Development Corporation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Omni Development Corporation is above average for NTEE category L20Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Omni Development Corporation located?
Omni Development Corporation is headquartered in Providence, Rhode Island and files with the IRS under EIN 222721731. It is classified under NTEE code L20Z.
How many years of IRS 990 filings does Omni Development Corporation have?
Omni Development Corporation has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $4.1M in total revenue.
What does Omni Development Corporation do?
Omni Development Corporation is a nonprofit organization in the Housing & Shelter sector, located in Providence, Rhode Island. It is classified under NTEE code L20Z.
How much revenue does Omni Development Corporation have?
Omni Development Corporation reported total revenue of $4,111,804. Based on 14 IRS 990 filings on record.
What are Omni Development Corporation's total assets?
Omni Development Corporation holds total assets of $56,453,106 as reported in IRS 990 filings.
Where is Omni Development Corporation located?
Omni Development Corporation is based in Providence, Rhode Island.
What is Omni Development Corporation's EIN?
Omni Development Corporation's Employer Identification Number (EIN) is 222721731. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Omni Development Corporation?
Omni Development Corporation is classified under NTEE code L20Z (Housing & Shelter).
Is Omni Development Corporation a registered 501(c)(3)?
Yes, Omni Development Corporation is recognized as a tax-exempt organization by the IRS. EIN: 222721731.
Does Omni Development Corporation file IRS Form 990?
Yes, Omni Development Corporation has 14 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Omni Development Corporation's revenue in 2023?
In the 202312 filing period, Omni Development Corporation reported total revenue of $4,533,496, total expenses of $3,543,422, and net assets of $55,031,809.
Is Omni Development Corporation's revenue growing or declining?
Omni Development Corporation's revenue is growing. Revenue went from $3,396,747 (202212) to $4,533,496 (202312), a +33.5% change. Based on 14 filings on record.
What is Omni Development Corporation's most recent 990 filing?
The most recent IRS Form 990 filing for Omni Development Corporation covers tax period 202312. It shows revenue of $4,533,496, expenses of $3,543,422, total assets of $55,031,809, and liabilities of $15,919,397.
How much does Omni Development Corporation spend on programs vs administration?
Based on IRS 990 analysis, Omni Development Corporation allocates approximately 80% of expenses to program services, 10% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Omni Development Corporation a trustworthy charity?
Based on AI analysis of IRS 990 data, Omni Development Corporation appears trustworthy. Mission Score: 85/100 (Excellent). No red flags identified. 3 strengths noted.
What are Omni Development Corporation's strengths?
Positive indicators for Omni Development Corporation include: Significant asset growth from $15.2M in 2018 to $56.4M in 2023, indicating strong financial health and expansion.. Consistent program spending relative to total expenses, with expenses generally around $3M-$3.5M annually.. Low liability-to-asset ratio, suggesting good financial stability.. These findings are derived from AI analysis of the organization's financial filings.
How does Omni Development Corporation compensate executives?
Executive compensation is not explicitly detailed in the provided summary data, preventing a specific assessment of its proportion relative to total expenses or revenue. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What factors contributed to the substantial increase in assets from $15.2M in 2018 to $56.4M in 2023, and how does this growth align with their mission?
The significant asset growth likely reflects successful capital campaigns, property acquisitions, or investment gains. This expansion suggests an increased capacity to deliver on their mission, potentially through larger-scale development projects or expanded service offerings.
Filing History
IRS 990 filing history for Omni Development Corporation showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Omni Development Corporation's revenue has grown by 17.7%, moving from $3.9M to $4.5M. Total assets increased by 485.4% over the same period, from $9.4M to $55.0M. Total functional expenses rose by 90.4%, from $1.9M to $3.5M. In its most recent filing year (2023), Omni Development Corporation reported a surplus of $990K, with revenue exceeding expenses. The organization holds $15.9M in liabilities against $55.0M in assets (debt-to-asset ratio: 28.9%), resulting in net assets of $39.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.5M | $3.5M | $55.0M | $15.9M | — | — |
| 2022 | $3.4M | $3.1M | $46.7M | $8.7M | — | View 990 |
| 2021 | $5.9M | $3.3M | $46.5M | $8.7M | — | View 990 |
| 2020 | $4.6M | $3.1M | $44.3M | $9.2M | — | View 990 |
| 2019 | $28.0M | $3.3M | $43.0M | $9.3M | — | View 990 |
| 2018 | $3.2M | $3.1M | $15.2M | $6.2M | — | View 990 |
| 2017 | $4.7M | $3.3M | $16.0M | $6.8M | — | View 990 |
| 2016 | $2.3M | $2.3M | $13.4M | $5.7M | — | View 990 |
| 2015 | $3.3M | $2.9M | $12.2M | $5.3M | — | View 990 |
| 2014 | $3.5M | $2.8M | $13.8M | $7.3M | — | View 990 |
| 2013 | $4.1M | $2.8M | $11.2M | $5.4M | — | View 990 |
| 2012 | $3.5M | $3.3M | $12.2M | $7.8M | — | View 990 |
| 2011 | $2.7M | $2.9M | $11.5M | $7.2M | — | View 990 |
| 2010 | $3.9M | $1.9M | $9.4M | $4.8M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.5M, expenses of $3.5M, and assets of $55.0M (revenue +33.5% year-over-year).
- 2022: Revenue of $3.4M, expenses of $3.1M, and assets of $46.7M (revenue -42.3% year-over-year).
- 2021: Revenue of $5.9M, expenses of $3.3M, and assets of $46.5M (revenue +28.7% year-over-year).
- 2020: Revenue of $4.6M, expenses of $3.1M, and assets of $44.3M (revenue -83.7% year-over-year).
- 2019: Revenue of $28.0M, expenses of $3.3M, and assets of $43.0M (revenue +789.0% year-over-year).
- 2018: Revenue of $3.2M, expenses of $3.1M, and assets of $15.2M (revenue -32.9% year-over-year).
- 2017: Revenue of $4.7M, expenses of $3.3M, and assets of $16.0M (revenue +101.4% year-over-year).
- 2016: Revenue of $2.3M, expenses of $2.3M, and assets of $13.4M (revenue -29.4% year-over-year).
- 2015: Revenue of $3.3M, expenses of $2.9M, and assets of $12.2M (revenue -4.3% year-over-year).
- 2014: Revenue of $3.5M, expenses of $2.8M, and assets of $13.8M (revenue -15.9% year-over-year).
- 2013: Revenue of $4.1M, expenses of $2.8M, and assets of $11.2M (revenue +16.7% year-over-year).
- 2012: Revenue of $3.5M, expenses of $3.3M, and assets of $12.2M (revenue +29.4% year-over-year).
- 2011: Revenue of $2.7M, expenses of $2.9M, and assets of $11.5M (revenue -29.4% year-over-year).
- 2010: Revenue of $3.9M, expenses of $1.9M, and assets of $9.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Omni Development Corporation:
Data Sources and Methodology
This transparency report for Omni Development Corporation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.