Is Elderly Housing Development Corp Of Old Saybrook Legit?
Quick charity verification for Elderly Housing Development Corp Of Old Saybrook (EIN: 222757384)
Verdict: Elderly Housing Development Corp Of Old Saybrook appears trustworthy
75/100Mission Score
$355KRevenue
$3.6MAssets
2Red Flags
3Strengths
Red Flags
Consistent decline in total assets over the past several years, from $4,971,076 in 2021 to $3,624,342 in 2024, warrants further investigation into asset management and depreciation.
The consistent reporting of 0% compensation (c0%) across all years could indicate a lack of transparency regarding executive or key employee compensation, or that all leadership is volunteer.
Strengths
Stable revenue generation over the past several years, indicating consistent operational funding.
Low administrative and fundraising costs, suggesting efficient use of funds for programs.
Long operational history (data back to 2017) indicates sustained commitment to its mission.
Spending Breakdown
How Elderly Housing Development Corp Of Old Saybrook allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Elderly Housing Development Corp Of Old Saybrook
Is Elderly Housing Development Corp Of Old Saybrook a legitimate charity?
Based on AI analysis of IRS 990 filings, Elderly Housing Development Corp Of Old Saybrook (EIN: 222757384) appears trustworthy. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
Is Elderly Housing Development Corp Of Old Saybrook a good charity to donate to?
Elderly Housing Development Corp Of Old Saybrook has a Mission Score of 75/100. Revenue: $355K. Assets: $3.6M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Elderly Housing Development Corp Of Old Saybrook?
The Employer Identification Number (EIN) for Elderly Housing Development Corp Of Old Saybrook is 222757384. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Elderly Housing Development Corp Of Old Saybrook spend its money?
Elderly Housing Development Corp Of Old Saybrook allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Elderly Housing Development Corp Of Old Saybrook's tax-exempt status?
You can verify Elderly Housing Development Corp Of Old Saybrook's tax-exempt status using EIN 222757384 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
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.