Ndc Housing and Economic Development Corporation
93% goes to programs $0 to raise $100 Strong reserves
Ndc Housing and Economic Development Corporation is a 501(c)(3) organization based in New York, New York, registered in 1988, with $113,153,472 in FY2024 revenue. CharityIndex grades it A, and it directs about 93% of spending to programs.
633 Third Ave 19j, New York, NY, 10017 EIN 91-1884698 Since 1988
Revenue (FY2024)
$113.2M
▲ 11.5% vs prior year
Housing median: $408K
Expenses (FY2024)
$110.9M
Net assets
$111.4M
Employees
0
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
A+Program efficiency40% of the rating93% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Ndc Housing and Economic Development Corporation: 93% to programs · $0 to raise $100 earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating12 mo reserves · +2% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Ndc Housing and Economic Development Corporation: 12 mo reserves · +2% margin earns a A on this criterion. See the exact thresholds →
BGovernance25% of the rating4 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Ndc Housing and Economic Development Corporation: 4 of 6 checks met earns a B on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Ndc Housing and Economic Development Corporation: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Ndc housing and economic development corporation was organized for the (cont. on schedule o) following charitable purposes: to construct new and support existing safe and adequate low-income housing for disadvantaged persons; thereby assisting generally in the alleviation of housing shortages throughout the united states; to stimulate economic development in economically distressed areas of the country; and to assist in the erection and maintenance of public buildings, monuments or facilities; to lessen the burdens of governments; and to promote social welfare.
What they do
Stimulate economic development in economically depressed areas: hedc works with nonprofit organizations, service providers and units of local government to stimulate economic development in the economically depressed neighborhoods across the nation. working through the new markets tax credit program along with other financing tools for small businesses and nonprofits, hedc creates employment and entrepreneurial opportunities for disadvantaged groups and individuals, combats community deterioration, and eliminates slum and blight through new investment in low-income communities to rehabilitate and revitalize neighborhoods.(cont. see schedule o)ndc community impact loan fund (cilf) unguaranteed lending to women, minorities, and individuals in disadvantaged communities. cilf, hedc's national cdfi and member of the federal home loan bank of new york, works with partner-communities and investors throughout the united states to stimulate economic development by providing capital for targeted growth in economically depressed areas. cilf engages directly with small business owners across the country by extending low-cost and fair financing. cilf also operates and participates in loan programs funded by both public and private clients, in which cilf ultimately makes end loans to borrowers. cilf's activities create or retain jobs, allow businesses to expand, restructure debt, and make it possible for business owners to create wealth.
Low income housing:hedc is a national leader in low-income housing through both development and investment. working in partnership with nonprofit organizations and service providers around the nation, hedc has developed, financed, operated, and/or managed more than 14,000 of units of quality, safe, adequate, and affordable low-income housing equating to billions of dollars of investment in low-income communities across the country.
Contact & location
- Address
- 633 Third Ave 19j, New York, NY, 10017
- City
- New York
- State
- New York
- Category
- Housing & Shelter
- Subcategory
- Housing Development & Management
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $75.2M (FY2015) to $113.2M (FY2024) across 10 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $707.2MNet assets $111.4M
Operating margin
2.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$818.6M
Total liabilities
$707.2M
Net assets
$111.4M
Salaries & benefits
$0
0% of expenses
Board members
29
20 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $113,153,472▲11.5% | $110,899,750▲0.8% | $111,383,855▲4.6% | $818,576,438▼10.1% | 990 |
| 2023 | $101,514,941▼12.2% | $110,028,793▲9.2% | $106,522,768▼7.4% | $910,447,137▲0.4% | 990 |
| 2022 | $115,628,960▼10.9% | $100,738,505▼3.2% | $115,027,788▲15.4% | $906,903,124▼0.8% | 990 |
| 2021 | $129,829,382▼33.0% | $104,120,358▼46.6% | $99,639,135▲35.5% | $914,444,452▼9.7% | 990 |
| 2020 | $193,664,154▲116% | $194,926,982▲108% | $73,513,305 | $1,012,755,346▲7.3% | 990 |
| 2019 | $89,841,904▼22.5% | $93,857,053▲5.3% | $73,505,290▼7.5% | $943,943,443▼4.2% | 990 |
| 2018 | $115,894,266▲26.3% | $89,122,696▼2.2% | $79,499,665▲53.5% | $984,900,420▼3.8% | 990 |
| 2017 | $91,751,944▼5.9% | $91,122,002▼6.6% | $51,789,978▲7.4% | $1,023,650,757▼6.0% | 990 |
| 2016 | $97,463,969▲29.7% | $97,518,385▼2.3% | $48,202,630▲40.1% | $1,089,149,724▼4.9% | 990 |
| 2015 | $75,150,583 | $99,765,709 | $34,402,320 | $1,145,379,211 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Adam Ennis | Board Member/coo | 5.5 | — |
| Bill King | Board Member | 0.25 | — |
| Brendan Mehaffy | Board Member | 0.25 | — |
| Byron Brown | Board Member | 0.25 | — |
| Charley Depew | Board Member | 3 | — |
| Christopher Scanlon | Board Member | 0.25 | — |
| Daniel Choi | Cfo | 12.5 | — |
| Daniel Marsh III | Pres/board Member | 4.4 | — |
| Darron Saxon | Board Member | 0.25 | — |
| David J Trevisani | Board Member/vice President | 10.5 | — |
| Geoffrey Person | Board Member | 0.25 | — |
| Jennie Vertrees | Secretary | 15 | — |
| Jessica Eskra | Board Member | 0.25 | — |
| John Murray | Board Member | 0.25 | — |
| Keith Swenson | Board Member | 0.25 | — |
| Kevin Gremse | Board Member | 1 | — |
| Kisty Morris | Board Member | 0.25 | — |
| Larry West | Board Member | 0.25 | — |
| Lisa Nichols | Board Member | 0.25 | — |
| Marlo Jaco | Board Member | 0.25 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| The Car Park Group LLC | Parking Garage Mgmt | $1,864,368 |
| Hines Interests Limited Partnership | Property Management | $1,627,150 |
| Seattle Maintenance Services | Janitorial | $1,601,440 |
| Bgis Global Integrated Solutions Us LLC | Property Management | $1,359,915 |
| Allied Universal Security Services | Security | $813,527 |
Grants made · $2.8M in FY2024
5 grants totaling $2.8M in FY2024. All grants made by Ndc Housing and Economic Development Corporation →
| Recipient | Purpose | Amount |
|---|---|---|
| Seattle Bcof LLC | Grant to a small business owner for real estate development | $1,458,010 |
| Ndc Housing and Economic Development Corporation | Economic development grant | $1,250,000 |
| Ndc Housing and Economic Development Corporation | Economic development grant | $64,276 |
| The Community Economic Development Fund I LLC | Working capital grant | $27,485 |
| Kings Theatre Master Tenant LLC | Annual thanksgiving donation | $20,000 |
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Frequently asked questions
- Is Ndc Housing and Economic Development Corporation a legitimate nonprofit?
- Yes. Ndc Housing and Economic Development Corporation is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 91-1884698, based in New York, New York. Donations are tax-deductible.
- What is Ndc Housing and Economic Development Corporation's EIN?
- Ndc Housing and Economic Development Corporation's Employer Identification Number (EIN) is 91-1884698.
- How much revenue does Ndc Housing and Economic Development Corporation report?
- Ndc Housing and Economic Development Corporation reported $113,153,472 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Ndc Housing and Economic Development Corporation's spending goes to programs?
- Ndc Housing and Economic Development Corporation spends about 93% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Ndc Housing and Economic Development Corporation have?
- CharityIndex grades Ndc Housing and Economic Development Corporation A, based on program efficiency and fundraising cost.
- How much does Ndc Housing and Economic Development Corporation's highest-paid employee make?
- The highest reported compensation on Ndc Housing and Economic Development Corporation's latest Form 990 is $0, paid to Adam Ennis (Board Member/coo).
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Data for Ndc Housing and Economic Development Corporation (EIN 91-1884698) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.