Overview
What is Eastern Eight Community Development Corporation Inc?
Eastern Eight Community Development Corporation Inc, situated in Johnson City, Tennessee, is a dedicated nonprofit organization. Its primary mission is to promote affordable housing for individuals with very low, low, and moderate incomes in the surrounding regions. This is achieved through various initiatives, including offering home buyer education courses, providing housing counseling, and engaging in housing development programs. The organization constructs, remodels, and manages rental facilities to cater to eligible individuals. With a team of 16 dedicated employees, Eastern Eight Community Development Corporation Inc strives to contribute positively to the housing landscape in Carter, Greene, Hancock, Hawkins, Johnson, Sullivan, Unicoi, and Washington Counties, Tennessee.
Official website here: www.e8cdc.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 100%, Four-Star out of Four Star rating.
Eastern Eight Community Development Corporation Inc has achieved a perfect score of 100%, reflecting strong accountability and financial practices. The organization is recognized for its commitment to transparency, evidenced by its independent board of directors, which is entirely composed of independent members. The charity also demonstrates effective oversight with a well-structured Audit and Oversight Committee and maintains robust policies, including conflict of interest and whistleblower protections.
The financial health of Eastern Eight is notable, with a program expense ratio of 82.84%, indicating that a significant portion of its resources is directed towards its mission-related programs. The organization has also shown a solid liabilities-to-assets ratio of 29.06%, suggesting a strong balance sheet and financial stability. These factors contribute to a high level of confidence in the organization's ability to manage its resources effectively.
While the data highlights many strengths, it is essential for donors and stakeholders to continue to monitor the organization's ongoing performance and financial practices to ensure alignment with their philanthropic goals. Overall, Eastern Eight Community Development Corporation Inc stands out as a reliable and well-managed nonprofit in the community development sector.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Eastern Eight Community Development Corporation Inc?
94% of 26 reviewers on Facebook recommend Eastern Eight Community Development Corporation Inc. Here is a summary of their reviews:
Many individuals express gratitude for the nonprofit's impactful services, particularly highlighting how it has helped them achieve their dream homes. The organization is seen as a valuable resource that provides opportunities for personal growth and community development.
Overall, the sentiment appears overwhelmingly positive, with users feeling supported and empowered through their involvement with Eastern Eight, recognizing its role in fulfilling important life goals.
This AI summary has been generated from reviews found on Facebook.
Is Eastern Eight Community Development Corporation Inc legitimate?
Eastern Eight Community Development Corporation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Eastern Eight Community Development Corporation 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: $788,640
For more financial information, click here
Official website here: www.e8cdc.org
What is the mission statement of Eastern Eight Community Development Corporation Inc?
Eastern Eight Community Development Corporation Inc's mission is centered around aiding in the development of affordable housing options for individuals with low, moderate, and very low incomes. The corporation operates within the legal boundaries to maximize this goal, striving to offer affordable housing solutions to citizens in need. They accomplish this through various means, such as providing home buyer education courses, offering housing counseling, and engaging in housing development programs. These initiatives result in the construction, remodeling, and provision of rental facilities for eligible individuals.
Official website here: www.e8cdc.org
Who is the CEO of Eastern Eight Community Development Corporation Inc?
Sherry Trent is the Executive Director of Eastern Eight Community Development Corporation Inc.
Official website here: www.e8cdc.org
What is the revenue of Eastern Eight Community Development Corporation Inc?
Eastern Eight Community Development Corporation Inc's revenue in 2023 was $4,015,634.
Official website here: www.e8cdc.org
Who are the executives of Eastern Eight Community Development Corporation Inc and what are their salaries?
The average compensation at Eastern Eight Community Development Corporation Inc during 2023 was $49,290. There are 16 employees at Eastern Eight Community Development Corporation Inc.
Here are 20 key members and their salaries:
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Official website here: www.e8cdc.org
Where can I find the form 990 for Eastern Eight Community Development Corporation Inc?
Eastern Eight Community Development Corporation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.e8cdc.org
Learn more at the official website: www.e8cdc.org
Mission Statement of Eastern Eight Community Development Corporation Inc
Eastern Eight Community Development Corporation, a notable organization, is committed to its mission of aiding in the development and maximizing the potential for affordable housing for low-income citizens residing in Carter, Greene, Hancock, Hawkins, Johnson, Sullivan, Unicoi, and Washington Counties, Tennessee. This mission is carried out through various initiatives, including the provision of home buyer education courses, housing counseling, and housing development programs. The corporation constructs, remodels, and offers rental facilities to qualifying individuals, ensuring that affordable housing options are available for very low, low, and moderate income households in the Northeast Tennessee region. By offering these resources, Eastern Eight Community Development Corporation contributes to the betterment of its community by providing accessible and affordable housing solutions.
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Impact
July, 2024
Eastern Eight Community Development Corporation Inc's impact is significant in providing affordable housing for very low, low, and moderate-income individuals in Northeast Tennessee. By offering home buyer education courses, housing counseling, and housing development programs, Eastern Eight assists citizens in obtaining housing opportunities that would otherwise be out of reach. Through the construction of homes, remodeling projects, and rental facilities, Eastern Eight contributes to the well-being and stability of individuals and families in Carter, Greene, Hancock, Hawkins, Johnson, Sullivan, Unicoi, and Washington Counties in Tennessee.
This information is meant to be a general summary of Eastern Eight Community Development Corporation 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 2023.
- Investment Income: $8,872
- Program Service Revenue: $3,001,729
- Gross Receipts: $4,015,634
Assets and Liabilities:
- Total Assets: $17,935,027
- Total Liabilities: $5,213,487
- Net Assets: $12,721,540
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Home and land sales
Revenue
$1,613,000
Rental income
Revenue
$1,310,933
Home ownership training
Revenue
$15,714
Administration fees
Revenue
$50,027
Other income
Revenue
$12,055
Organization Details
Founding Year
1998
Phone
(423) 232-5097Principal Officer
Sherry Trent
Main Address
3 Limited Centre St, Johnson City, TN, 37604
Website
www.e8cdc.orgNTEE Category
Code: L122 - Housing
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