Carnegie East House Housing Development Fund Company, Inc.

Introduction

Carnegie East House Housing Development Fund Company, Inc. is a US nonprofit organization dedicated to providing enriched housing and supportive services to older adults. The organization operates under the 501(c)(3) designation, allowing donations to be tax-deductible.

Purpose and Services

Carnegie East House offers 97 apartments and a range of special services tailored for individuals aged 55 and above. The organization's mission is to enhance the quality of life for its residents by providing a supportive community and quality services.

Financial Overview

The organization generates its revenue primarily from program services, with contributions also forming a significant part of its income. Recent financial data highlights the following breakdown:

• Contributions: These vary but have been recorded as high as 31.9% of total revenue in some years.
• Program Services: Generate the majority of the organization's revenue, often accounting for around 68.1% to 96.4% of total revenue.
• Investment Income: This constitutes a minimal portion of the organization's revenue.

Expenses

Major expenses include executive compensation, salaries for other employees, and operational costs. Executive compensation typically accounts for a small percentage of overall expenses, around 2% to 3%.

Governance

The organization is led by a board of directors and key personnel who oversee its operations and strategic planning.

Ratings and Accountability

Carnegie East House has received positive ratings from charity evaluators. It is recognized for its financial transparency and accountability, with financial audits conducted regularly.

Impact

By providing a supportive living environment, Carnegie East House plays a vital role in meeting the housing needs of older adults in its community. The organization's focus on quality services aims to enhance the well-being and independence of its residents.