Overview
What is Ega Hall Housing Development Fund Corporation?
Ega Hall Housing Development Fund Corporation is a nonprofit organization situated in New York City, specifically at 209 East 118th Street, New York, NY 10035. Their primary mission involves providing rental housing for individuals of low income. Under an agreement with the City of New York's Department of Housing Preservation and Development, they manage a 63-unit residential building, ensuring affordable living options for those in need. With a dedicated workforce of just two individuals, Ega Hall Housing Development Fund Corporation continues to contribute to the housing sector in New York City.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64% (Two-Star out of Four Star Rating)
Ega Hall Housing Development Fund Corporation has received a two-star rating from Charity Navigator, indicating a moderate level of accountability and financial health. The organization exhibits strong governance practices, with a fully independent board and effective policies for conflict of interest, whistleblowing, and document retention. These factors contribute positively to its overall governance score.
However, the nonprofit faces challenges in its financial metrics, particularly highlighted by a liabilities to assets ratio of 303.52%, which raises concerns about its financial stability. While the program expense ratio is commendable at 84.89%, indicating a strong commitment to its mission, the organization may need to address its financial liabilities to improve its rating further.
Overall, while Ega Hall demonstrates solid governance and a focus on programmatic spending, its elevated liabilities signal a need for improved financial management to bolster its long-term sustainability and performance ratings.
This AI summary has been generated from information found on Charity Navigator.
Is Ega Hall Housing Development Fund Corporation legitimate?
Ega Hall Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ega Hall Housing Development Fund Corporation 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: $95,630
For more financial information, click here
What is the mission statement of Ega Hall Housing Development Fund Corporation?
The Ega Hall Housing Development Fund Corporation operates a 63-unit residential building, catering to individuals with low income, in accordance with an agreement with the City of New York's Department of Housing Preservation and Development. Their primary activity involves managing rental units for Single Room Occupancy housing. The organization's mission, in essence, is to provide affordable housing solutions for those in need.
Who is the CEO of Ega Hall Housing Development Fund Corporation?
Sr Georgette Lawton is the Cfo of Ega Hall Housing Development Fund Corporation. The CEO's salary of Ega Hall Housing Development Fund Corporation is $0 and their total compensation is $113,389.
What is the revenue of Ega Hall Housing Development Fund Corporation?
Ega Hall Housing Development Fund Corporation's revenue in 2022 was $566,330.
Who are the executives of Ega Hall Housing Development Fund Corporation and what are their salaries?
The average compensation at Ega Hall Housing Development Fund Corporation during 2022 was $47,815. There are 2 employees at Ega Hall Housing Development Fund Corporation.
Here are 7 key members and their salaries (Ega Hall Housing Development Fund Corporation's CEO's salary is $0 and their total compensation is $113,389):
- Compensation: $0
- Related: $120,738
- Other: $0
- Compensation: $0
- Related: $113,389
- 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
Where can I find the form 990 for Ega Hall Housing Development Fund Corporation?
Ega Hall Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ega Hall Housing Development Fund Corporation
Ega Hall Housing Development Fund Corporation is committed to providing affordable housing for individuals of low income. Under an agreement with the City of New York's Department of Housing Preservation and Development, this organization operates a 63-unit residential building. This mission is reflected in their rental operations, specifically for single room occupancy housing. By offering housing options to those who may not otherwise be able to afford it, Ega Hall Housing Development Fund Corporation plays a significant role in supporting and uplifting its community. Their work contributes to the broader goal of ensuring that everyone has access to a safe and secure place to live, regardless of their financial situation.
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Impact
July, 2024
Ega Hall Housing Development Fund Corporation provides vital affordable housing options for individuals of low income in New York City. Operating a 63-unit residential building under an agreement with the City of New York Department of Housing Preservation and Development, this organization plays a crucial role in addressing the housing needs of underserved communities. By offering rental operations for single-room occupancy housing, Ega Hall HDFC contributes to enhancing the quality of life for those who might otherwise struggle to secure safe and affordable housing options in a challenging real estate market. Through their focused efforts, Ega Hall HDFC directly impacts the lives of individuals in need, providing a stable foundation for them to thrive and succeed.
This information is meant to be a general summary of Ega Hall Housing Development Fund Corporation. 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: $557
- Program Service Revenue: $565,773
- Gross Receipts: $566,330
Assets and Liabilities:
- Total Assets: $1,209,384
- Total Liabilities: $3,670,947
- Net Assets: -$2,461,563
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$507,819
SOCIAL SERVICE FEES
Revenue
$57,954
Organization Details
Founding Year
1990
Phone
(212) 426-6317Principal Officer
Sr Georgette Lawton
Main Address
209 EAST 118TH STREET, NEW YORK, NY, 10035
NTEE Category
Code: L25Z - Housing
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