Eden Development Inc

Nonprofit profile at a glance

EIN
593803314
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Hayward, CA, USA
Phone
5105821460
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$1,311,235
Expenses
$3,381,738
Assets
$31,079,710
Liabilities
$125,564,555

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • LINDA MANDOLINI (PRESIDENT)

Highest reported compensation

  • LINDA MANDOLINI (PRESIDENT): $662,794 total reported compensation
  • TATIANA BLANK (CFO): $492,408 total reported compensation
  • TIMOTHY GREEN (ASSISTANT SECRETARY/GENERAL COUNSEL): $318,500 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

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.

What it reported doing in 2024

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.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 73% for direct work, and 27% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 71
  • Accountability: 91
  • Sustainability: 31
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.4%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -157.9%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 9.19; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 4.04; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 10.6%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: 0.4% per year; rating input score 100; 19th percentile among comparable filings
  • Revenue growth: 11.3% per year; rating input score 100; 70th percentile among comparable filings
  • Asset growth: 6.8% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.4% of spending went to programs
  • Governance: 6 of 6 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.4M in reported program spending
  • Leadership: top reported pay $663K · 10 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $161K reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 233 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 1/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.