WHEDco - Women's Housing And Economic Development Corporation
Meets Standards
Standards For Charity Accountability
Governance
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Board Oversight
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Board Size
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Board Meetings
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Board Compensation
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Conflict of Interest
Measuring Effectiveness
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Effectiveness Policy
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Effectiveness Report
Finances
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Program Expenses
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Fundraising Expenses
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Accumulating Funds
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Audit Report
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Detailed Expense Breakdown
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Accurate Expense Reporting
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Budget Plan
Fundraising & Info
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Truthful Materials
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Annual Report
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Website Disclosures
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Donor Privacy
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Cause Marketing Disclosures
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Complaints
WHEDco - Women's Housing And Economic Development Corporation meets the 20 Standards for Charity Accountability.
Stated Purpose:
"To create and bridge access in the South Bronx to the resources that support thriving neighborhoods - from high-quality early education and after-school programs, to fresh, healthy food, cultural programming, and economic opportunity."
Year, State Incorporated:
1992, NY
The Women's Housing and Economic Development Corporation (WHEDco) is a community development organization founded on the radically simple idea that all people deserve healthy, vibrant communities. It builds award winning, sustainable, affordable homes - but its work is not over when its buildings are complete. WHEDco believes that to be successful, affordable housing must be anchored in strong communities of which residents can be proud.
For the year ended June 30, 2022, WHEDco - Women's Housing And Economic Development Corporation's program expenses were:
| Programs | $32,748,808 |
| Total Program Expenses | $32,748,808 |
Chief Executive
Davon Russell, President
Compensation*
$335,386
Chair's Profession / Business Affiliation
Not disclosed
Board Size
13
Paid Staff Size
320
* Compensation includes annual salary and, if applicable, benefit plans, expense accounts and other allowances.
Method(s) Used:
Direct mail appeals, Invitations to fund raising events, Grant proposals, Internet
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
The following information is based on WHEDco - Women's Housing And Economic Development Corporation's audited financial statements for the year ended June 30, 2022.
Source of Funds
| Contracts and Grants | $26,030,883 |
| Rental Revenue | $8,100,383 |
| Foundations | $7,945,263 |
| Equity Contributions | $4,253,181 |
| Individuals/Special Events | $567,388 |
| Gain on Interest Rate Swap | $327,882 |
| Other Income | $297,910 |
| Donated Services | $177,117 |
| Investment and Interest Income | $20,256 |
| Equity Distributions | $-70,500 |
| Total Income | $47,649,763 |
Programs: 87% Fundraising: 2% Administrative: 11%
| Total Income | $47,649,763 |
| Total expenses: | $37,441,772 |
| Program expenses | $32,748,808 |
| Fundraising expenses | $629,803 |
| Administrative expenses | $4,063,161 |
| Other expenses | $0 |
| Income in Excess of Expenses | $10,207,991 |
| Beginning Net Assets | $53,953,448 |
| Other Changes In Net Assets | $0 |
| Ending Net Assets | $64,161,439 |
| Total Liabilities | $152,527,144 |
| Total Assets | $216,688,583 |
An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.
This report is not to be used for fundraising or promotional purposes.
RELATED CONTENT
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Meets Standards
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Standards Not Met
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Did Not Disclose
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Review in Progress
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Unable to Verify
Report completed by:
BBB Foundation of Metropolitan New York