Overview
What is Emerald Development & Economic Network?
The Emerald Development & Economic Network, also known as EDEN, is a Cleveland, Ohio-based nonprofit organization with a mission to provide housing solutions for individuals and families facing housing insecurities and homelessness. With a workforce of 231 employees, EDEN ensures the development, operation, and administration of safe, decent, and affordable housing units for those who are homeless or at risk, have disabilities, or special needs. Their housing units catered to over 1,200 consumers during the 2022 fiscal year, maintaining a high 95% rent collection and occupancy standard. The organization's vision extends beyond housing, as they aim to foster collaborative partnerships and create initiatives to end homelessness, while maintaining a dedicated, qualified, and committed staff culture.
Official website here: www.edeninc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Stars)
Emerald Development & Economic Network has achieved an impressive 97% rating from Charity Navigator, indicating a high level of financial health and accountability. The organization excels in several key areas, including an outstanding Leadership & Adaptability score of 100 and a strong Program Expense Ratio of 97.44%, suggesting that a significant portion of its funding is directed toward its programs rather than administrative costs. The presence of 100% independent board members further enhances the trustworthiness of the organization.
The organization's commitment to transparency is reflected in its robust policies, such as a comprehensive conflict of interest policy and a whistleblower policy, both receiving full points. Additionally, its impact evaluation and feedback collection mechanisms have also scored perfectly, showcasing a dedication to assessing and improving its programs. The strategic goals indicate a strong focus on optimizing operations and expanding affordable housing, which aligns with its mission to foster community development.
While the organization demonstrates exceptional financial and operational practices, the data does not highlight specific areas for improvement. Overall, Emerald Development & Economic Network stands out as a highly effective nonprofit, committed to making a meaningful impact in its community through responsible governance and strategic initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Emerald Development & Economic Network legitimate?
Emerald Development & Economic Network is a legitimate nonprofit organization registered as a 501(c)(3) entity. Emerald Development & Economic Network 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: $1,424,588
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,071,072
For more financial information, click here
Official website here: www.edeninc.org
What is the mission statement of Emerald Development & Economic Network?
The Emerald Development & Economic Network is dedicated to addressing housing insecurities and homelessness by providing affordable housing solutions. Their mission is to enable vulnerable individuals and families to live with hope and dignity. The organization develops, operates, and administers safe and decent housing units for those who are homeless or at risk, have disabilities or special needs, and have very low or extremely low income. In the 2022 fiscal year, EDEN served over 1200 consumers, maintaining high rent collection and occupancy standards. The majority of residents have lived in their housing for two years or more and have a source of income. EDEN fosters collaborative partnerships to increase resources and create initiatives in support of their mission, and they prioritize attracting and retaining highly qualified and committed staff.
Official website here: www.edeninc.org
Who is the CEO of Emerald Development & Economic Network?
Elaine Gimmel is the Board Member of Emerald Development & Economic Network.
Official website here: www.edeninc.org
What is the revenue of Emerald Development & Economic Network?
Emerald Development & Economic Network's revenue in 2022 was $42,110,677.
Official website here: www.edeninc.org
Who are the executives of Emerald Development & Economic Network and what are their salaries?
The average compensation at Emerald Development & Economic Network during 2022 was $19,462. There are 231 employees and 40 volunteers at Emerald Development & Economic Network.
Here are 22 key members and their salaries:
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- Compensation: $113,575
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- Other: $14,257
Official website here: www.edeninc.org
Where can I find the form 990 for Emerald Development & Economic Network?
Emerald Development & Economic Network's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.edeninc.org
Learn more at the official website: www.edeninc.org
Mission Statement of Emerald Development & Economic Network
Emerald Development & Economic Network, or EDEN, is a dedicated organization with a mission to address the housing insecurities and homelessness faced by individuals and families. By providing safe, decent, and affordable housing solutions, EDEN strives to lead efforts in ending homelessness.
The heart of EDEN's mission lies in its commitment to creating housing opportunities for people who are at risk of or experiencing homelessness, as well as those with disabilities and special needs. With an impressive 1200 consumers served during the 2022 fiscal year, EDEN consistently achieves high standards of rent collection and occupancy, with 80% of residents living in their housing for two years or more. Moreover, 70% of EDEN's residents have a reliable source of income.
EDEN's vision is multifaceted, encompassing not only the development and operation of affordable housing units but also the fostering of collaborative partnerships to expand resources and create initiatives in support of its mission. These partnerships play a crucial role in enhancing the organization's impact. Additionally, EDEN values attracting and retaining highly qualified and committed staff, which contributes to the overall success of its mission.
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Impact
October, 2024
Emerald Development & Economic Network (EDEN) plays a vital role in addressing housing insecurities and homelessness within the Cleveland community. By developing, operating, and managing affordable housing, EDEN provides safe and decent living environments for some of the most vulnerable individuals and families. During the 2022 fiscal year, EDEN served over 1,200 individuals, helping them access housing and stability.
The organization boasts an impressive 95% rate for rent collection and occupancy, which underscores its effectiveness in maintaining sustainable housing solutions. Notably, 80% of the residents have remained in their housing for two years or longer, indicating a successful approach to long-term stability. Furthermore, 70% of those served have secured a source of income, enhancing their ability to thrive independently.
EDEN's commitment extends beyond providing shelter; it actively fosters collaborative partnerships to increase resources and develop initiatives aimed at mitigating homelessness. This multifaceted approach not only addresses immediate housing needs but also empowers individuals to live with hope and dignity as they reintegrate into their communities. Ultimately, EDEN's impact is profound, shaping a path toward ending homelessness and promoting lasting change in the lives of many.
This information is meant to be a general summary of Emerald Development & Economic Network. 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: -$425,556
- Program Service Revenue: $6,474,568
- Gross Receipts: $42,538,210
Assets and Liabilities:
- Total Assets: $39,028,910
- Total Liabilities: $14,134,222
- Net Assets: $24,894,688
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROPERTY MANAGEMENT & ADMINISTRAT
Revenue
$5,376,439
RENTAL INCOME
Revenue
$909,357
OTHER PROGRAM REVENUE
Revenue
$153,252
MANAGEMENT FEE
Revenue
$35,520
Organization Details
Founding Year
1990
Phone
(216) 961-9690Principal Officer
Elaine Gimmel
Main Address
7812 MADISON AVE, CLEVELAND, OH, 44102
Website
www.edeninc.orgNTEE Category
Code: L80Z - Housing
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