CARNEGIE EAST HOUSE HOUSING DEVELO… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2000

Legal Domicile

Principal Officer

JOSEPH GIRVEN

Phone

2124100033

Tax Period

2024-04-01 to 2025-03-31

CARNEGIE EAST HOUSE HOUSING DEVELOPMENT FUND COMPANY INC, founded in 2000, is a community nonprofit in the Housing & Shelter sector that reported $7.5M in total revenue in fiscal year 2024. Revenue decreased 13% compared to the prior year.

Mission

TO PROVIDE ENRICHED HOUSING TO OLDER ADULTS WITH QUALITY SUPPORTIVE SERVICES. WE ARE COMMITTED TO HELPING OUR RESIDENTS RETAIN THEIR INDEPENDENCE IN SAFE & COMFORTABLE SURROUNDINGS SO THEY CAN CELEBRATE THE EXPERIENCE OF AGING.

Program Service Accomplishments

Program 1

Expenses: $6,496,595 Revenue: $5,806,105

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...

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. CONVENIENTLY SITUATED ON MANHATTAN'S UPPER EAST SIDE, CARNEGIE EAST HOUSE SERVED APPROXIMATELY 88 RESIDENTS IN FY 25. OUR MISSION IS TO SUPPORT OUR RESIDENTS' PHYSICAL AND MENTAL HEALTH, EMPOWERING THEM TO EMBRACE AND CELEBRATE THE EXPERIENCE OF AGING. RESIDENTS BENEFIT FROM 3.5 HOURS OF PERSONAL CARE WEEKLY, THREE NUTRITIOUS DAILY MEALS SERVED IN AN ELEGANT DINING ROOM, MEDICATION MANAGEMENT SERVICES WHEN NEEDED, WEEKLY LAUNDRY AND HOUSEKEEPING, CASE MANAGEMENT SERVICES, AND AN EXTENSIVE CALENDAR OF ENGAGING ACTIVITIES AND PROGRAMS DESIGNED TO FOSTER SOCIAL CONNECTION AND INTELLECTUAL STIMULATION FROM MORNING TO EVENING.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,700,509

Program Service Revenue $5,806,105

Investment Income $4,033

Other Revenue $0

TOTAL REVENUE $7,510,647

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,679,143

Fundraising Expenses $0

Program Expenses $6,496,595

Other Expenses $4,884,460

TOTAL EXPENSES $7,563,603

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,510,647	$8,617,821	-0.1%
Expenses	$7,563,603	$7,870,034	0.0%
Net Income	$-52,956	$747,787	-1.1%

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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$340,270

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRAN CONDON	PRESIDENT	2.00	Officer Director	$0	$0	$0
BEATRICE BROADWATER	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
PATRICIA KOLB PHD	SECRETARY	2.00	Officer Director	$0	$0	$0
CALVIN MARSHALL MEW	TREASURER	2.00	Officer Director	$0	$0	$0
ANDREW BONZANI	DIRECTOR	2.00	Director	$0	$0	$0
CHRISTOPHER SAVOGLOU	DIRECTOR	2.00	Director	$0	$0	$0
WILLIAM T SULLIVAN	DIRECTOR	2.00	Director	$0	$0	$0
NICOLA M HERYET	DIRECTOR	2.00	Director	$0	$0	$0
RICHARD B MARION	DIRECTOR	2.00	Director	$0	$0	$0
DANIEL VANHALL	DIRECTOR	2.00	Director	$0	$0	$0
JOSEPH H GIRVEN	EXECUTIVE DIR.	15.00	Officer	$150,622	$39,026	$340,270
CHRISTEENA BAKSH	COO	40.00	Highest	$133,244	$39,025	$172,269
HELANE RICHARDS PEACE	DEVELOPMENT DIR.	20.00	Highest	$76,372	$15,760	$168,504
DAVID PEACE	OPERATIONS RISK MANAGER	4.00	Highest	$11,124	$15,708	$126,951
ANGELA DEWOOD	DEPUTY EXECUTIVE	40.00	Highest	$136,628	$16,025	$152,653
RACHELLE REESE	DIRECTOR OF HEALTH	40.00	Highest	$128,551	$16,025	$144,576

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
2025	$7,510,647	$7,563,603	$20,656,404	$-52,956
2024	$8,617,821	$7,870,034	$21,096,747	$747,787
2023	$7,539,384	$7,244,873	$21,227,099	$294,511
2022	$6,947,827	$7,097,496	$20,967,938	$-149,669
2021	$6,511,012	$7,402,946	$21,800,395	$-891,934
2020	$7,000,231	$7,285,078	$22,656,886	$-284,847
2019	$6,664,622	$6,788,650	$23,341,817	$-124,028

CARNEGIE EAST HOUSE HOUSING DEVELOPMENT FUND COMPANY INC