EC HOUSING DEVELOPMENT FUND COMPANY INC

EIN: 133121459 501(c)(3)

BRONX, NY

Total Revenue
$2,182,834
Total Expenses
$2,231,651
Total Assets
$2,780,041
Net Assets
$-4,755,693
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1982
Legal Domicile
NY
Principal Officer
SALVATORE GIGANTE
Phone
3477262547
Tax Period
2023-01-01 to 2023-12-31

EC HOUSING DEVELOPMENT FUND COMPANY INC, founded in 1982, is a community nonprofit that reported $2.2M in total revenue in fiscal year 2023. Revenue decreased 5% compared to the prior year.

Mission

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

Program Service Accomplishments

Program 1
Expenses: $2,159,969

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 $2,182,094
Investment Income $740
Other Revenue $0
TOTAL REVENUE $2,182,834

Expense Breakdown

Grants Paid $0
Salaries & Benefits $148,684
Fundraising Expenses $0
Program Expenses $2,159,969
Other Expenses $2,082,967
TOTAL EXPENSES $2,231,651

Year-over-Year Comparison

2023 2022 Change
Revenue $2,182,834 $2,308,362 -0.1%
Expenses $2,231,651 $2,681,238 -0.2%
Net Income $-48,817 $-372,876 -0.9%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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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 $2,182,834 $2,231,651 $2,780,041 $-48,817
2022 $2,308,362 $2,681,238 $2,898,514 $-372,876
2021 $2,036,769 $2,203,383 $2,924,814 $-166,614
2020 $-166,954 No data $2,887,961 No data
2019 $-79,401 No data $2,954,217 No data
2018 $-105,457 No data $3,008,769 No data
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