EDEN DEVELOPMENT INC

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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

2004

Legal Domicile

Principal Officer

LINDA MANDOLINI

Phone

5105821460

Tax Period

2023-01-01 to 2023-12-31

EDEN DEVELOPMENT INC, founded in 2004, is a community nonprofit in the Housing & Shelter sector that reported $2.1M in total revenue in fiscal year 2023. Revenue surged 45% from the prior year, signaling strong growth momentum. Expenses of $4.6M exceeded revenue, resulting in a 119% operating deficit.

Mission

EDEN DEVELOPMENT, INC.'S MISSION IS TO PROVIDE HOUSING FOR LOW-INCOME PERSONS WHERE NO ADEQUATE HOUSING EXISTS FOR SUCH GROUPS AND TO SERVE AS GENERAL PARTNER IN LIMITED PARTNERSHIPS THAT OWN AND OPERATE HOUSING FOR THE BENEFIT OF LOW-INCOME PERSONS WHO ARE IN NEED OF AFFORDABLE, DECENT, SAFE, AND SANITARY HOUSING AND RELATED SERVICES. AFFORDABLE HOUSING INCLUDES MULTI-FAMILY RENTAL HOUSING, CO-OPS AND SUPPORTIVE HOUSING.

Program Service Accomplishments

Program 1

Expenses: $4,559,383 Revenue: $1,908,566

THE CORPORATION, DIRECTLY OR THROUGH ITS SINGLE-MEMBER LIMITED LIABILITY COMPANIES, SERVES AS A MANAGING GENERAL PARTNER OF VARIOUS LIMITED PARTNERSHIPS THAT OWN AND OPERATE LOW-INCOME HOUSING...

THE CORPORATION, DIRECTLY OR THROUGH ITS SINGLE-MEMBER LIMITED LIABILITY COMPANIES, SERVES AS A MANAGING GENERAL PARTNER OF VARIOUS LIMITED PARTNERSHIPS THAT OWN AND OPERATE LOW-INCOME HOUSING PROJECTS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $183,367

Program Service Revenue $1,890,383

Investment Income $0

Other Revenue $18,183

TOTAL REVENUE $2,091,933

Expense Breakdown

Grants Paid $36

Salaries & Benefits $217,736

Fundraising Expenses $0

Program Expenses $4,559,383

Other Expenses $4,362,236

TOTAL EXPENSES $4,580,008

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,091,933	$1,447,293	+0.4%
Expenses	$4,580,008	$3,573,650	+0.3%
Net Income	$-2,488,075	$-2,126,357	+0.2%

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

$1,382,098

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LINDA MANDOLINI	PRESIDENT	0.10	Officer	$0	$41,962	$642,152
TATIANA BLANK	CFO	0.10	Officer	$0	$20,086	$451,046
TIMOTHY GREEN	ASSISTANT SECRETARY/GENERAL COUNSEL	0.10	Officer	$0	$12,816	$288,900
SUSIE CRISCIMAGNA	SR DIRECTOR OF REAL ESTATE DEVELOPMENT	8.00	Highest	$234,203	$38,145	$272,348
CHERYL O'CONNOR	CHAIR	0.10	Officer Director	$0	$0	$0
KARA DOUGLAS	VICE CHAIR	0.10	Officer Director	$0	$0	$0
SHEILA ANN BURKS	SECRETARY/TREASURER	0.10	Officer Director	$0	$0	$0
MELISSA PLATTE	DIRECTOR	0.10	Director	$0	$0	$0
CALVIN WHITAKER	DIRECTOR	0.10	Director	$0	$0	$0
JAMES KENNEDY	DIRECTOR	0.10	Director	$0	$0	$0

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	$2,091,933	$4,580,008	$31,633,308	$-2,488,075
2022	$1,447,293	$3,573,650	$30,102,224	$-2,126,357
2021	$4,613,123	$30,106,600	$30,040,019	$-25,493,477
2020	$3,093,602	$554,071	$29,901,323	$2,539,531
2019	$1,048,698	$8,447,443	$29,645,895	$-7,398,745
2018	$2,003,102	$704,986	$35,222,486	$1,298,116