Overview
What is Essex Street Management Inc?
Essex Street Management Inc, situated in Cambridge, Massachusetts, is a nonprofit organization that plays a crucial role in the community. Their primary function involves managing and providing supportive services to related organizations within the city. Specifically, they oversee the operation of 14 low-income housing units and an 8-unit complex, catering to qualified low-income individuals. Additionally, they serve as the managing member for seven public housing rehabilitation projects undergoing significant property revitalization. The organization's mission is to provide long-term development services for these housing units, ensuring they continue to serve their intended population effectively.
Official website here: www.cambridge-housing.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 81%, Three-Star out of Four Star rating.
Essex Street Management Inc has achieved a solid Three-Star rating, primarily based on its accountability and finance score, which reflects a strong commitment to transparency and good governance. With an 81% overall score, the organization demonstrates effective management of its resources and financial integrity, which is critical for maintaining donor trust.
One of the notable strengths of Essex Street Management Inc is its independent board composition, with 83% of board members being independent. This independence enhances decision-making processes and ensures a diverse range of perspectives. Additionally, the organization scores full points in various metrics, including its conflict of interest policy and the presence of an audit and oversight committee, indicating robust compliance with best practices.
However, the organization faces challenges regarding its liabilities to assets ratio, scoring zero out of fifteen in this area, suggesting it may have high liabilities relative to its assets. While the program expense ratio is impressively high at 96.69%, showcasing effective use of funds towards its mission, the financial health aspect highlighted by the liabilities ratio could warrant further scrutiny for potential long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Essex Street Management Inc legitimate?
Essex Street Management Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Essex Street Management Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $20,658
For more financial information, click here
Official website here: www.cambridge-housing.org
What is the mission statement of Essex Street Management Inc?
Essex Street Management Inc's mission is centered around providing management and support services for related organizations. Specifically, their aim is to assist organizations that own and operate low-income housing units. Their goal is to ensure that qualified individuals have access to affordable housing. Additionally, the organization is committed to providing long-term development services for these housing units to ensure their continued viability and improvement. Essex Street Management Inc is also involved in the rehabilitation of public housing projects, demonstrating their dedication to improving living conditions for low-income individuals.
Official website here: www.cambridge-housing.org
Who is the CEO of Essex Street Management Inc?
John Filip is the Clerk of Essex Street Management Inc.
Official website here: www.cambridge-housing.org
What is the revenue of Essex Street Management Inc?
Essex Street Management Inc's revenue in 2022 was $4,400,600.
Official website here: www.cambridge-housing.org
Who are the executives of Essex Street Management Inc and what are their salaries?
There 5 volunteers at Essex Street Management Inc.
Here are 11 key members and their salaries:
- Compensation: $0
- Related: $249,651
- Other: $73,362
- Compensation: $0
- Related: $230,304
- Other: $68,159
- Compensation: $0
- Related: $251,297
- Other: $45,357
- Compensation: $0
- Related: $238,993
- Other: $53,897
- Compensation: $0
- Related: $204,748
- Other: $64,908
- Compensation: $0
- Related: $63,625
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.cambridge-housing.org
Where can I find the form 990 for Essex Street Management Inc?
Essex Street Management Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cambridge-housing.org
Learn more at the official website: www.cambridge-housing.org
Mission Statement of Essex Street Management Inc
Essex Street Management Inc, as an organization, is committed to providing management and supporting services for related entities. Its primary mission is to assist organizations that own and operate low-income housing units for qualifying individuals in various locations. By offering long-term development services, Essex Street Management Inc aims to improve and maintain the quality of these housing units. The organization manages 14 low-income housing units and an 8-unit complex, ensuring that they remain accessible and suitable for eligible low-income individuals. Furthermore, Essex Street Management Inc serves as the developer and managing member of seven public housing rehabilitation projects currently undergoing significant property revitalization. Through its efforts, the organization contributes to the improvement and sustainability of affordable housing options for those in need.
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Impact
July, 2024
Essex Street Management Inc has a significant impact in the city of Cambridge, MA by providing management and supporting services for related organizations that own and operate low-income housing units. They are the owner and operator of 14 low-income housing units and an 8-unit housing complex for qualified low-income individuals. Additionally, they are the developer and managing member of seven public housing rehabilitation projects currently undergoing significant property revitalization.
Through their mission to provide long-term development services for low-income housing units in Cambridge, Essex Street Management Inc plays a crucial role in ensuring affordable housing options for qualifying individuals in the community. Their work contributes to addressing the housing needs of low-income residents and supports efforts to promote housing stability and affordability in the region.
This information is meant to be a general summary of Essex Street Management Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $58,145
- Program Service Revenue: $4,342,455
- Gross Receipts: $4,400,600
Assets and Liabilities:
- Total Assets: $48,042,130
- Total Liabilities: $39,396,616
- Net Assets: $8,645,514
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPMENT FEE INCOME
Revenue
$3,895,453
RENTS & LEASE INCOME
Revenue
$447,002
Organization Details
Founding Year
2003
Phone
(617) 520-6387Principal Officer
John Filip
Main Address
362 GREEN STREET, CAMBRIDGE, MA, 02139
Website
www.cambridge-housing.orgNTEE Category
Code: L21 - Housing
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