ERMA CAVA HOUSING DEVELOPMENT FUND COMPANY INC

EIN: 133073995 501(c)(3) Housing & Shelter

BRONX, NY

Total Revenue
$714,173
Total Expenses
$666,962
Total Assets
$739,700
Net Assets
$-1,374,027
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1980
Legal Domicile
NY
Principal Officer
SALVATORE GIGANTE
Phone
3477262547
Tax Period
2023-01-01 to 2023-12-31

ERMA CAVA HOUSING DEVELOPMENT FUND COMPANY INC, founded in 1980, is a small nonprofit in the Housing & Shelter sector that reported $714K in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year. Expenses of $667K left a modest 7% surplus.

Mission

PROVIDE HOUSING FOR THE ELDERLY AND HANDICAPPED UNDER SECTION 202 OF THE FEDERAL HOUSING ACT OF 1959 IN THE SOUTH BRONX AREA OF NEW YORK CITY.

Program Service Accomplishments

Program 1
Expenses: $637,763

PROVIDE HOUSING FOR THE ELDERY AND HANDICAPPED UNDER SECTION 202 OF THE FEDERAL HOUSING ACT OF 1959.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $713,857
Investment Income $316
Other Revenue $0
TOTAL REVENUE $714,173

Expense Breakdown

Grants Paid $0
Salaries & Benefits $64,058
Fundraising Expenses $0
Program Expenses $637,763
Other Expenses $602,904
TOTAL EXPENSES $666,962

Year-over-Year Comparison

2023 2022 Change
Revenue $714,173 $772,460 -0.1%
Expenses $666,962 $840,253 -0.2%
Net Income $47,211 $-67,793 -1.7%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Governance

Voting Members
3
Independent Members
2
Employees
2
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$251,995
Total Directors
3
$251,995
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ENRICO BOCCIA CHAIR 0.05
Officer Director
$0 $0 $0
EVELYN VELAZQUEZ TREASURER/SE 0.05
Officer Director
$0 $0 $0
SALVATORE GIGANTE VICE PRESIDE 0.30
Officer Director
$0 $0 $251,995
SONAL SHAH CONTROLLER 0.00
Highest
$0 $0 $139,248
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $714,173 $666,962 $739,700 $47,211
2022 $772,460 $840,253 $760,692 $-67,793
2021 $667,444 $799,655 $780,553 $-132,211
2020 $-357,647 No data $1,155,726 No data
2019 $-60,593 No data $1,195,385 No data
2018 $-10,924 No data $1,276,821 No data
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