Carnegie East House Housing Development Fund Company Inc
- Assets
- $21.2m
- Revenue
- $7.5m
- Investments
- $0.0
- Employees
- 45
- Location
- New York, NY
- Founding
- 10/2000
- Data as of
- 03/2023
- EIN
- 13-3436898
Organization Overview
Carnegie East House Housing Development Fund Company Inc is located in New York, NY. The organization was established in 2000. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 03/2023, Carnegie East House Housing Development Fund Company Inc employed 45 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carnegie East House Housing Development Fund Company Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2023, Carnegie East House Housing Development Fund Company Inc generated $7.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $7.2m during the year ending 03/2023. While expenses have increased by 1.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES ENRICHED HOUSING TO OLDER ADULTS WITH QUALITY SUPPORTIVE SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CARNEGIE EAST HOUSE HOUSING DEVELOPMENT FUND COMPANY OWNS AND OPERATES CARNEGIE EAST HOUSE, NEW YORK CITY'S PREMIER ENRICHED LIVING RESIDENCE FOR OLDER ADULTS WHO NEED ASSISTANCE WITH THEIR ACTIVITIES OF DAILY LIVING. LOCATED ON MANHATTAN'S UPPER EAST SIDE, CARNEGIE EAST HOUSE SERVED APPROXIMATELY 70 OLDER ADULTS IN FY 23. OUR GOAL IS TO MAINTAIN OUR RESIDENTS' PHYSICAL AND MENTAL HEALTH SO THEY CAN CELEBRATE THE EXPERIENCE OF AGING. WHEN THE PANDEMIC STARTED, WE MOVED SWIFTLY TO KEEP OUR RESIDENTS SAFE, HEALTHY, AND ENGAGED IN LIFE. OUR STAFF MAINTAINED AN "ALL-HANDS-ON-DECK" APPROACH TO KEEPING OUR RESIDENTS SAFE BY FOLLOWING RIGOROUS INFECTION CONTROL PROTOCOLS. OUR EXECUTIVE DIRECTOR, JOSEPH GIRVEN, LIVED IN THE BUILDING FOR OVER TWO YEARS TO PROVIDE "HANDS-ON" LEADERSHIP. CONTINUED ON SCHEDULE O.WE CONTINUED THOSE STRINGENT PROTOCOLS DURING FY 23, INCLUDING DAILY RESIDENT HEALTH CHECKS AND SANITIZATION OF THE BUILDING, RESIDENT AND STAFF COVID-19 VACCINATION CLINICS, AND COVID-19 SCREEING OF EVERYONE ENTERING THE BUILDING. AS A RESULT OF OUR ACTIONS, NO CARNEGIE EAST HOUSE RESIDENT HAS DIED FROM COVID-19 DURING THE PANDEMIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fran Condon President | OfficerTrustee | 2 | $0 |
Beatrice Broadwater Vice President | OfficerTrustee | 2 | $0 |
Jay Sherwood Secretary | OfficerTrustee | 2 | $0 |
Calvin Marshall Mew Treasurer | OfficerTrustee | 2 | $0 |
Andrew Bonzani Director | Trustee | 2 | $0 |
Patricia Kolb PHD Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morrison Management Food Service | 3/30/23 | $1,159,703 |
Evergreen Mechanical Corp Plumbing Replacement Services | 3/30/23 | $143,893 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,003,963 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,401,482 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,405,445 |
| Total Program Service Revenue | $5,132,764 |
| Investment income | $1,175 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,539,384 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $189,258 |
| Compensation of current officers, directors, key employees. | $8,940 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,924,731 |
| Pension plan accruals and contributions | $22,500 |
| Other employee benefits | $358,381 |
| Payroll taxes | $163,789 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,370 |
| Fees for services: Accounting | $27,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $121,379 |
| Advertising and promotion | $19,960 |
| Office expenses | $119,689 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,308 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $610,461 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $913,467 |
| Insurance | $378,654 |
| All other expenses | $94,969 |
| Total functional expenses | $7,244,873 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,678 |
| Savings and temporary cash investments | $662,548 |
| Pledges and grants receivable | $823,645 |
| Accounts receivable, net | $68,688 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $332,225 |
| Net Land, buildings, and equipment | $18,953,985 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $378,330 |
| Total assets | $21,227,099 |
| Accounts payable and accrued expenses | $1,020,889 |
| Grants payable | $0 |
| Deferred revenue | $70,191 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $23,492,746 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $831,851 |
| Total liabilities | $25,415,677 |
| Net assets without donor restrictions | -$4,188,578 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $21,227,099 |