Emerald Development & Economic Network
Also known as Eden Inc.
Emerald Development & Economic Network reported $56.3 million in revenue and $53.5 million in expenses for calendar year 2024. Of every $100 it spent, $91.68 went to program services, $8.32 to management and general costs and $0.00 to fundraising. Its largest source of revenue was contributions and grants: 93.6% of the total. Government grants made up 93.1%. The highest compensation it reported for one person was $220,895 (EXECUTIVE DIRECTOR). 5 people received more than $100,000 in reportable compensation. Revenue rose 64% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $54MFor context, the median across 933 covered housing & shelter charities: $89.27 programs, $10.73 management, $0.00 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $56MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 91.7% | 87.5% |
| Management & general Part IX 25(C) ÷ 25(A) | 8.3% | 10.5% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.01 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 93.6% | 17.0% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 93.1% | 1.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 4.4% | 66.2% |
| Highest reported compensation Part VII-A, columns D–F | $220,895 | $300,863 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.41% | 1.57% |
| People paid over $100,000 Part VII, line 2 | 5 | 5 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 6.3 | 10.0 |
| Independent voting board members Part VI 1a–1b | 19 of 19 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseThe provision and management of housing units for persons who are experiencing homelessness or are unstably housed, who have a disability and/or are part of a special needs group including justice involved individuals, veterans or survivors of domestic violence and/or human trafficking, and who are very low/extremely low income: eden provided housing for approximately 350 tenants. Eden has maintained 90% rent collection and 90% occupancy standards; 70% have lived in our housing for 2 years or longer, and 70% have a source of income
The organization was administering rental assistance programs that provided housing for over 3,500 households who were extremely and very low income, experiencing homelessness or unstably housed, and who had a disability and/or were part of a special needs group including justice involved individuals, veterans or survivors of domestic violence &/or human trafficking. Through our programs, 90% of participants were housed 1 year or longer and 35% were housed 5 years or longer
The development of housing opportunities for persons who are experiencing homeless or that are unstably housed, who have a disability and/or are part of a special needs population such as justice involved individuals, survivors of domestic violence and/or human trafficking and veterans. This activity includes, but is not limited to, coordination with other government or nonprofit organizations and the provision of fiscal and administrative services on a contract basis to such organizations
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| EXECUTIVE DIRECTOR Officer, 40.00 hrs/week | $183,853 | $0 | $37,042 | $220,895 |
| CHIEF FINANCIAL OFFICER Officer, 40.00 hrs/week | $151,167 | $0 | $26,914 | $178,081 |
| CHIEF OPERATING OFFICER Officer, 40.00 hrs/week | $148,513 | $0 | $7,436 | $155,949 |
| DIRECTOR OF REAL ESTATE DEVELOPMENT Highest compensated employee, 40.00 hrs/week | $106,251 | $0 | $43,373 | $149,624 |
| DIRECTOR OF PROPERTY MANAGEMENT Highest compensated employee, 40.00 hrs/week | $104,208 | $0 | $18,927 | $123,135 |
5 people received more than $100,000 in reportable compensation from Emerald Development & Economic Network (Part VII, line 2). Compensation of current officers, directors and key employees totaled $555K (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b19 · 19 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 5260
- Volunteers Part I, line 650
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| DRAKE CONSTRUCTION COMPANY General contractor | $2,206,911 |
| C&B CONSTRUCTION CO 1LTD General contractor | $1,081,159 |
| FRONT LINE SERVICE Supportive servies | $665,055 |
| HUNTINGTON NATIONAL BANK - 0821 Finance | $328,051 |
| MUI CONSTRUCTION LLC General contractor | $311,934 |
Individuals listed as contractors are left out. 5 contractors were paid more than $100,000 in all.
Private foundation grants it received
5 private foundations reported grants to Emerald Development & Economic Network totaling $184K on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Emerald Development & Economic Network's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Emerald Development & Economic Network, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Emerald Development & Economic Network spent in 2024, $91.68 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Champlain Housing TrustBurlington, VT · revenue $56M · programs 86.5% · FY2025
- Housing Trust Silicon ValleySan Jose, CA · revenue $56M · programs 71.3% · FY2025
- Chiara Housing and ServicesWaukesha, WI · revenue $56M · programs 87.5% · 2025
- Housing Assistance CorporationHyannis, MA · revenue $57M · programs 89.6% · FY2025
- Linc Housing CorporationLong Beach, CA · revenue $55M · programs 64.3% · 2024
Questions people ask
How much of Emerald Development & Economic Network's spending goes to programs?
In calendar year 2024, Emerald Development & Economic Network reported that 91.7% of its $53.5 million in expenses went to program services, 8.3% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Emerald Development & Economic Network pay its top executive?
The largest total compensation Emerald Development & Economic Network reported for one person in calendar year 2024 was $220,895, for the role of EXECUTIVE DIRECTOR (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Emerald Development & Economic Network get its money?
Of $56.3 million in revenue in calendar year 2024, 93.6% came from contributions and grants (including 93.1% from government grants) and 4.4% from program service revenue (Form 990, Part VIII).
Is Emerald Development & Economic Network a registered charity?
The IRS lists EIN 34-1667990 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202543219349319444 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202403209349306075 · read the filing
- 2022: Form 990 for calendar year 2022, object 202303199349304115 · read the filing
- 2021: Form 990 for calendar year 2021, object 202203199349323695 · read the filing
- 2020: Form 990 for calendar year 2020, object 202103199349323675 · read the filing
- 2019: Form 990 for calendar year 2019, object 202043189349300139 · read the filing
All filings for EIN 34-1667990: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.