Is Elderly Housing Development Corp Of Old Saybrook Legit?

Elderly Housing Development Corp Of Old Saybrook is a housing & shelter nonprofit based in Old Saybrook, Connecticut, with reported revenue of $355K and assets of $3.6M. Our AI analysis assigns a Mission Score of 75/100 (Good). Approximately 85% of spending goes to programs, 10% to administration, and 5% to fundraising. • The organization consistently reports 0% compensation, indicating either volunteer leadership or compensation below reporting thresholds. • Financial filings show a consistent decline in total assets from $4,971,076 in 2021 to $3,624,342 in 2024. • Revenue has remained relatively stable over the past several years, ranging from $332,953 to $368,509. Executive compensation is not reported in the provided filings, suggesting either a volunteer board or compensation below the IRS reporting threshold for key employees. Revenue has grown +122% across 13 filing periods.