Erie Canal Housing Development Fund Company Inc

Charity Navigator Rating: 1 Star (58%)

Erie Canal Housing Development Fund Company Inc has received a One-Star out of Four Star rating from Charity Navigator, indicating significant concerns regarding its overall financial health and accountability. The organization's score is derived entirely from its Accountability & Finance metrics, with a particular emphasis on its liabilities relative to its assets, which have resulted in a notably high liabilities to assets ratio of 105.76%. This raises red flags about its financial stability and sustainability.

Despite these financial concerns, the organization demonstrates strengths in several areas of governance. It boasts a fully independent board, with all members meeting the criteria for independence. Additionally, it effectively documents board meeting minutes and has no reported material diversions of assets, indicating a commitment to transparency and accountability in its operations.

However, the positive aspects of the organization are overshadowed by its poor financial ratios, particularly the troubling liabilities to assets ratio. While it excels in governance practices, potential donors and stakeholders may want to exercise caution and consider the organization's financial challenges before making contributions or engaging with its programs.

This AI summary has been generated from information found on Charity Navigator.

Erie Canal Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Erie Canal Housing Development Fund Company 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: $0

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