Overview
What is Eastern Connecticut Housing Opportunities Inc?
Eastern Connecticut Housing Opportunities Inc, a nonprofit organization situated in New London, Connecticut, is dedicated to addressing housing needs within southeastern Connecticut. With a primary mission, they strive to provide affordable housing options for families classified as low-income. Their activities extend beyond rental housing, as they also facilitate housing purchases for eligible individuals. The organization, comprising a small workforce of three, is committed to improving housing accessibility and affordability within their community.
Official website here: www.echohomes.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Star rating)
Eastern Connecticut Housing Opportunities Inc has earned an 88% rating from Charity Navigator, reflecting strong performance in accountability and finance. The organization has a fully independent board, successfully meeting governance standards with 100% independent members. Their financial oversight is commendable, with a clean audit and no reported material diversion of assets, indicating responsible management of funds.
The organization demonstrates high efficiency in program spending, with an impressive program expense ratio of 95.33%, which suggests that the majority of their resources are directed towards fulfilling their mission. Their financial statements and policies, including conflict of interest and document retention, are well documented; however, the absence of a whistleblower policy is noted as a limitation.
Overall, while Eastern Connecticut Housing Opportunities Inc exhibits strong governance and financial health, they should consider implementing a whistleblower policy to bolster their commitment to transparency and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Eastern Connecticut Housing Opportunities Inc legitimate?
Eastern Connecticut Housing Opportunities Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Eastern Connecticut Housing Opportunities 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: $136,133
Professional Fundraising Fees: $0
Other Salaries and Wages: $171,596
For more financial information, click here
Official website here: www.echohomes.org
What is the mission statement of Eastern Connecticut Housing Opportunities Inc?
Eastern Connecticut Housing Opportunities Inc, as a non-profit organization, is dedicated to providing affordable housing solutions for low-income families residing in southeastern Connecticut. Their mission is twofold: they offer affordable rental housing options and also facilitate housing purchases for families with moderate incomes. The organization's primary goal is to ensure that these families have access to safe and affordable housing, thereby improving their overall living standards.
Official website here: www.echohomes.org
Who is the CEO of Eastern Connecticut Housing Opportunities Inc?
Julie Savin is the Chairman of Eastern Connecticut Housing Opportunities Inc. The CEO's salary of Eastern Connecticut Housing Opportunities Inc is $125,000 and their total compensation is $137,092.
Official website here: www.echohomes.org
What is the revenue of Eastern Connecticut Housing Opportunities Inc?
Eastern Connecticut Housing Opportunities Inc's revenue in 2022 was $4,163,430.
Official website here: www.echohomes.org
Who are the executives of Eastern Connecticut Housing Opportunities Inc and what are their salaries?
The average compensation at Eastern Connecticut Housing Opportunities Inc during 2022 was $102,576. There are 3 employees at Eastern Connecticut Housing Opportunities Inc.
Here are 9 key members and their salaries (Eastern Connecticut Housing Opportunities Inc's CEO's salary is $125,000 and their total compensation is $137,092):
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- Compensation: $125,000
- Related: $0
- Other: $12,092
Official website here: www.echohomes.org
Where can I find the form 990 for Eastern Connecticut Housing Opportunities Inc?
Eastern Connecticut Housing Opportunities Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.echohomes.org
Learn more at the official website: www.echohomes.org
Mission Statement of Eastern Connecticut Housing Opportunities Inc
Eastern Connecticut Housing Opportunities, Inc. is a non-profit organization that is committed to providing affordable housing solutions for low-income families residing in southeastern Connecticut. Their mission is twofold: they offer affordable rental housing options and also facilitate housing purchases for individuals and families falling under the low-moderate income bracket. By doing so, this organization aims to contribute positively to the communities it serves, ensuring that everyone has a decent place to call home.
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Impact
July, 2024
Eastern Connecticut Housing Opportunities Inc's impact can be seen through its provision of affordable housing to low-income families in southeastern Connecticut. By offering affordable rental housing and opportunities for housing purchases to low and moderate-income families, this organization plays a crucial role in addressing the housing needs of the community. This work directly contributes to improving the quality of life for individuals and families by ensuring they have a safe and stable place to call home. Through their mission, Eastern Connecticut Housing Opportunities Inc is making a meaningful difference in the lives of those in need of affordable housing options.
This information is meant to be a general summary of Eastern Connecticut Housing Opportunities 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: $7,959
- Program Service Revenue: $2,199,834
- Gross Receipts: $4,163,430
Assets and Liabilities:
- Total Assets: $10,876,513
- Total Liabilities: $2,799,183
- Net Assets: $8,077,330
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$1,572,230
DEVELOPER FEES
Revenue
$464,000
CONSULTING INCOME
Revenue
$163,604
Organization Details
Founding Year
1990
Phone
(860) 447-8055Principal Officer
Julie Savin
Main Address
165 STATE STREET SUITE 311, NEW LONDON, CT, 06320
Website
www.echohomes.orgNTEE Category
Code: L200 - Housing
If you are a representative of Eastern Connecticut Housing Opportunities Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.