Emerald Development And Economic
- Assets
- $39.0m
- Revenue
- $42.1m
- Investments
- $0.0
- Employees
- 231
- Location
- Cleveland, OH
- Founding
- 11/1991
- Data as of
- 12/2022
- EIN
- 34-1667990
Organization Overview
Emerald Development And Economic, operating under the name Eden Inc, is located in Cleveland, OH. The organization was established in 1991. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Eden Inc employed 231 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Eden 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 12/2022, Eden Inc generated $42.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $41.4m during the year ending 12/2022. While expenses have increased by 5.2% per year over the past 8 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.
Since 2014, Eden Inc has awarded 48 individual grants totaling $14,116,885. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
EDEN'S MISSION IS TO PROVIDE HOUSING SOLUTIONS TO PEOPLE FACING THE CHALLENGES OF HOUSING INSECURITIES AND HOMELESSNESS. TO THIS END, EDEN'S VISION IS TO BE A LEADER IN EFFORTS TO END HOMELESSNESS BY:- DEVELOPING, OPERATING, AND ADMINISTERING SAFE, DECENT, AFFORDABLE HOUSING WHICH WILL ENABLE THE COMMUNITIES' MOST VULNERABLE INDIVIDUALS AND FAMILIES TO LIVE WITH HOPE AND DIGNITY- DEVELOPING AND MAINTAINING COLLABORATIVE PARTNERSHIPS THAT FOSTER AND INCREASE RESOURCES TO CREATE INITIATIVES AND STRATEGIES IN SUPPORT OF THE MISSION- DEVELOPING A CULTURE WHICH ATTRACTS AND RETAINS HIGHLY QUALIFIED AND COMMITTED STAFF
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROVISION AND MANAGEMENT OF HOUSING UNITS FOR PERSONS WHO ARE HOMELESS OR AT RISK OF HOMELESSNESS, WHO HAVE A DISABILITY OR HAVE SPECIAL NEEDS, AND WHO ARE VERY LOW/EXTREMELY LOW INCOME: EDEN SERVED OVER 1200 CONSUMERS DURING THE 2022 FISCAL YEAR. EDEN HAS MAINTAINED 95% RENT COLLECTION AND OCCUPANCY STANDARDS; 80% HAVE LIVED IN OUR HOUSING FOR 2 YEARS OR LONGER, AND 70% HAVE A SOURCE OF INCOME.
AS OF THE END OF 2022, THE ORGANIZATION WAS ADMINISTERING RENTAL ASSISTANCE PROGRAMS THAT PROVIDED HOUSING FOR OVER 3,001 HOUSEHOLDS WHO WERE EXTREMELY AND VERY LOW INCOME, WERE HOMELESS OR AT RISK OF HOMELESSNESS, AND WHO HAD A DISABILITY OR WERE SPECIAL NEEDS. SERVED 796 HOUSEHOLDS WITH RAPID RE-HOUSING OR R TEMPORARY ASSISTANCE THROUGHOUT THE YEAR. THROUGH OUR PROGRAMS, 90% OF PARTICIPANTS WERE HOUSED 1 YEAR OR LONGER AND 35% WERE HOUSED 5 YEARS OR LONGER. ONLY 3% OF PARTICIPANTS WHOSE ASSISTANCE WAS TERMINATED WERE FOR NEGATIVE REASONS. MOST WENT ON TO OTHER PERMANENT HOUSING OPTIONS OR INCREASED INCOME AND BECAME INELIGIBLE FOR OUR PROGRAMS.
THE DEVELOPMENT OF HOUSING FOR PERSONS WHO ARE HOMELESS OR AT RISK OF HOMELESSNESS, AND WHO HAVE A DISABILITY OR ARE SPECIAL NEEDS. THIS ACTIVITY INCLUDES, BUT IS NOT LIMITED TO, COORDINATION WITH OTHER GOVERNMENT OR NONPROFIT ORGANIZATIONS AND THE PROVISION OF FISCAL AND ADMINISTRATIVE SERVICES ON A CONTRACT BASIS TO SUCH ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis Morton Board Member | Trustee | 2 | $0 |
Douglas Shelby Secretary | OfficerTrustee | 2 | $0 |
Michele Sommerfelt Board Member | Trustee | 2 | $0 |
Mark Dodds Board Member | Trustee | 2 | $0 |
John Mark Tichar President | OfficerTrustee | 2 | $0 |
Joshua E Levin Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Whittguard Protective Service Llc Security | 12/30/22 | $672,297 |
Millstone Management Group General Contractor | 12/30/22 | $2,019,234 |
Huntington National Bank - 0821 Finance | 12/30/22 | $529,985 |
Mui Construction Llc General Contractor | 12/30/22 | $342,826 |
Hiti Difrancesco & Siebold Inc Architect | 12/30/22 | $364,802 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $34,478,518 |
| All other contributions, gifts, grants, and similar amounts not included above | $941,124 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $35,419,642 |
| Total Program Service Revenue | $6,474,568 |
| Investment income | $1,977 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$427,533 |
| Net Income from Fundraising Events | $200 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,110,677 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,249,465 |
| Grants and other assistance to domestic individuals. | $26,575,970 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,424,588 |
| Compensation of current officers, directors, key employees. | $213,688 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,071,072 |
| Pension plan accruals and contributions | $193,007 |
| Other employee benefits | $811,505 |
| Payroll taxes | $642,359 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,579 |
| Fees for services: Accounting | $55,512 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $73,237 |
| Advertising and promotion | $0 |
| Office expenses | $1,943,052 |
| Information technology | $175,294 |
| Royalties | $0 |
| Occupancy | $1,649,251 |
| Travel | $19,528 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $55,410 |
| Interest | $569,673 |
| Payments to affiliates | -$226,015 |
| Depreciation, depletion, and amortization | $695,633 |
| Insurance | $115,403 |
| All other expenses | $0 |
| Total functional expenses | $41,402,567 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,348,003 |
| Savings and temporary cash investments | $456,916 |
| Pledges and grants receivable | $6,565,470 |
| Accounts receivable, net | $4,391,131 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $12,682 |
| Prepaid expenses and deferred charges | $36,591 |
| Net Land, buildings, and equipment | $17,220,395 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $6,086,389 |
| Intangible assets | $6,067 |
| Other assets | $905,266 |
| Total assets | $39,028,910 |
| Accounts payable and accrued expenses | $892,814 |
| Grants payable | $0 |
| Deferred revenue | $2,159,085 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $263,961 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $10,531,060 |
| Unsecured mortgages and notes payable | $218,733 |
| Other liabilities | $68,569 |
| Total liabilities | $14,134,222 |
| Net assets without donor restrictions | $19,229,024 |
| Net assets with donor restrictions | $5,665,664 |
| 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 | $39,028,910 |
Grants Awarded
Over the last fiscal year, Emerald Development And Economic has awarded $1,707,950 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
YWCA OF CLEVELAND PURPOSE: PROVIDE SUPPORTIVE SERVICES TO CLIENTS RECEIVING RENTAL ASSITANCE. | $229,128 |
FAMILY PROMISE OF GREATER CLEVELAND PURPOSE: PROVIDE SUPPORTIVE SERVICES TO CLIENTS RECEIVING RENTAL ASSITANCE. | $52,237 |
UNIVERSITY SETTLEMENT PURPOSE: PROVIDE SUPPORTIVE SERVICES TO CLIENTS RECEIVING RENTAL ASSITANCE. | $61,837 |
JOURNEY CENTER PURPOSE: PROVIDE SUPPORTIVE SERVICES TO CLIENTS RECEIVING RENTAL ASSITANCE. | $61,897 |
CLEVELAND RAPE CRISIS CENTER PURPOSE: PROVIDE SUPPORTIVE SERVICES TO CLIENTS RECEIVING RENTAL ASSITANCE. | $23,875 |
MENTAL HEALTH SERVICES INC PURPOSE: PROVIDE SUPPORTIVE SERVICES TO CLIENTS RECEIVING RENTAL ASSITANCE. | $1,228,575 |