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RIDGE OAK III INC

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Public IRS 990 nonprofit record

RIDGE OAK III INC

EIN 27-3501015 · Senior Citizens Housing & Retirement Communities (L22)

What they do

to OPERATE A RESIDENTIAL RENTAL HOUSING PROJECT IN BASKING RIDGE, NJ for LOW INCOME ELDERLY PERSONS.

Before you give

Are they doing good?

Easy charity check
Good signs so far

The public paperwork has several good signs. Now check whether the charity can show who it helped.

Here is the honest answer: A tax form shows money and paperwork. It cannot prove that people, animals, or the community were truly helped.

Good signs we looked for

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders14 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

$120.40spent for every $100 of revenueSpending was higher than revenue this year.
$19.50of every $100 spent went to management and office costsThis number alone does not tell us how much good they did.
$8.71in assets for every $1 spent this yearSome assets cannot be spent right away.

Ask these three easy questions

  1. Who did you help? Ask for a recent story or report that shows real results.
  2. What will my money do? Ask exactly what your gift will pay for.
  3. Is this really the charity? Give only through its official website or confirmed phone number.

Worth asking: Expenses exceeded revenue by $67,693 this year. Ask whether that was planned or caused by a one-time event.

Pay context: The highest compensation shown in this filing is $61,663 for BONNIE KELLY (EXECUTIVE DIRECTOR). Compare pay with organizations of similar size and complexity.

Bottom line: Good paperwork is a good sign—not proof. The best answer comes when the charity can show what it changed, who it helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

Money in and money out

Revenue$331,830
Expenses$399,523
Annual shortfall $67,693 Expenses were higher than revenue for this filing year.

Selected spending reported on the 990

Each amount is compared with total expenses separately. These categories can overlap, so they should not be added together as a pie chart.

Management and general$77,784 · 19.5% of expenses
See all reported dollar amounts
Revenue$331,830
Expenses$399,523
Assets$3,481,222
Income$331,830
Management and general$77,784
Accounting fees$11,856
People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation
BONNIE KELLYEXECUTIVE DIRECTOR · 10 hrs/week $61,663Base · Other $61,663
MICHAEL PALANCHIDIRECTOR OF FACILITIES · 10 hrs/week $44,660Base · Other $44,660
COREY HOVANECDIRECTOR OF OPERATIONS · 10 hrs/week $34,367Base · Other $34,367
PATRICIA GOULDENDIRECTOR OF FINANCE · 10 hrs/week $12,053Base · Other $12,053
SUSAN COHNDIRECTOR OF ADMINISTRATION & HOUSING · 10 hrs/week $12,004Base · Other $12,004

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (14)

BONNIE KELLYEXECUTIVE DIRECTOR

MICHAEL PALANCHIDIRECTOR OF FACILITIES

COREY HOVANECDIRECTOR OF OPERATIONS

PATRICIA GOULDENDIRECTOR OF FINANCE

SUSAN COHNDIRECTOR OF ADMINISTRATION & HOUSING

BOB TALLAKSENTRUSTEE

BRUCE MCARTHURTRUSTEE

DEBORAH KNAPPTRUSTEE

DENISE SZABOTRUSTEE

NORMAN GRAFFTREASURER

PAMELA BOWMANSECRETARY

SUSAN PAPETRUSTEE

TRACIE MALLEOVICE PRESIDENT

VINCENT BAKERPRESIDENT

About this charity

Recognized since
January 2010
Location
150 MANCHESTER DRIVE, BASKING RIDGE, NJ 07920
County
Somerset
In care of
BONNIE KELLY
Primary officer
BONNIE KELLY, EXECUTIVE DIRECTOR

How to reach them

Filing and classification

Latest tax year
2024
Tax period began
July 1, 2024
Return type
990
Tax preparer
CLIFTONLARSONALLEN LLP
NTEE classification
Senior Citizens Housing & Retirement Communities (L22)
IRS tax category
Senior Citizens Housing & Retirement Communities

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About this report: Information comes from public nonprofit records and may show the latest filing available.

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