Educational Housing Services INC

Tax-deductible

New York, NY501(c)(3)Since 1987HousingEIN 13-3411159

The EHS & Subsidiaries Mission is "To Enhance the New York City college experience by providing safe and affordable housing in an enriching student life environment."

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
$2.5M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $2.6M a year · 10% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.5M
to officers and key staff · 8% of spending
Top officer’s pay higher than 93% of similar orgs
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 3.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $4K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$184.3M
125% of total assets
Concern: liabilities are 125% of assets; over 80%.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$29.9M
+21% vs prior year
Spent
$32.8M
To programs
88%
Net assets
−$36.8M
By yearFY2020–FY2024
Revenue
$29.9M
FY2024▲ +21%
Revenue by fiscal year
FY2020$27.2M
FY2021$20.9M
FY2022$23.2M
FY2023$24.8M
FY2024$29.9M
Expenses
$32.8M
FY2024▲ +15%
Expenses by fiscal year
FY2020$26.3M
FY2021$24.9M
FY2022$26.7M
FY2023$28.5M
FY2024$32.8M
Net assets
−$36.8M
FY2024▼ -3%
Net assets by fiscal year
FY2020−$24.5M
FY2021−$27.9M
FY2022−$31.6M
FY2023−$35.8M
FY2024−$36.8M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1991.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $28.9M Management & general 12% · $4.0M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

19 people listed on the 990; $2.5M paid to officers and key staff.

Part VII, Section A · reportable compensation
$461,766Pt VII · Sec A
Senior VP Leasing & Marketing
$293,072Pt VII · Sec A
$271,050Pt VII · Sec A
Senior VP Student Life
$225,180Pt VII · Sec A
$208,518Pt VII · Sec A
Senior Housing Advisor
$188,901Pt VII · Sec A
VP of Facilities and Property
$186,615Pt VII · Sec A
SR VP Gnrl Counsel, Secretary
$163,844Pt VII · Sec A

Jeffrey Lynford’s $462K as President is at the 93rd percentile of top reported officer pay among 676 $10–100M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Jeffrey Lynford$461,766$580,727$584,683$583,731$584,087
Dennis R Irvin$271,050$345,791$25,000$25,000$25,000
Faye Bean$293,072$252,929$263,057$268,186$277,147
Ramalingam Ganesh———$266,034$240,399
Adam B Kaufman$188,901$248,449$255,186$173,771$133,318
Christy Chatfield$225,180$201,556$212,236$218,333$200,754
Joseph La Vacca$208,518$187,049$198,442$204,835$198,990
Abram Bernstein——$166,322$148,317$196,403

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides safe, affordable housing and enriching student life for NYC college students.

Provided by the organization

This section is blank until Educational Housing Services INC claims this page.

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1 program service account for $28.9M of program spending, described in the organization's own filed words · FY2024.
01

To acquire by lease or otherwise, maintain and operate, in the new york city metro area, quality, safe, state of the art, affordable, residential facilities for students and teachers of educational institutions. Educational housing services, inc.

$28.9Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2019
Total grants receivedfrom 1 funder$4K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$29.9M
Ln 12
Fees for servicesLn 2g$27.0M
Gifts and grantsLn 1h$1.5M
Other incomeLn 4–11$1.4M
Money outPt IX
$32.8M
Ln 25
Programscol B$28.9M
Managementcol C$4.0M
Owns and owesPt X
−$36.8M
net assets · Ln 32
Cash and savingsLn 1–2$9.7M
Total assetsLn 16$147.5M
LiabilitiesLn 26$184.3M
PeoplePt VI, VII
19
listed · VII A
PaidVII A19
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.5M
Government grantsLn 1e$822K
Fees for servicesLn 2g$27.0M
Investment incomeLn 3$63K
Other incomeLn 4–11$1.4M
Gains on assetsLn 7$0
Total revenueLn 12$29.9M
Assets in detailPt X, end of year
CashLn 1$8.2M
SavingsLn 2$1.4M
Cash and savings togetherLn 1–2$9.7M
InvestmentsLn 11–13$3.2M
Land, buildings, equipmentLn 10c$85K
Other assetsLn 15$114.2M
Total assetsLn 16$147.5M
LiabilitiesLn 26$184.3M
Net assetsLn 32−$36.8M
OperationsPt I, VI
EmployeesI 567
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$9.7M$9.7M
InvestmentsLn 11–13$1.2M$3.2M
Land, buildings, equipmentLn 10c$123K$85K
Total assetsLn 16$142.2M$147.5M
LiabilitiesLn 26$178.0M$184.3M
Net assetsLn 32−$35.8M−$36.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$1.6M$1.6M
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$2.1M$931K$1.2M
Pension plan contributionsLn 8$52K$21K$31K
Other employee benefitsLn 9$269K$113K$156K
Payroll taxesLn 10$238K$141K$97K
Management feesLn 11a$440K$440K
Legal feesLn 11b$206K$164K$42K
Accounting feesLn 11c$73K$73K
Lobbying feesLn 11d−$2K−$2K
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$373K$271K$102K
Advertising and promotionLn 12$1.0M$1.0M$688
Office expensesLn 13$118K$5K$113K
Information technologyLn 14$269K$7K$263K
RoyaltiesLn 15$0
OccupancyLn 16$21.2M$21.2M$82K
TravelLn 17$47K$10K$37K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$14K$2K$12K
InterestLn 20$2.2M$2.2M
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$58K$45K$13K
InsuranceLn 23$596K$528K$68K
Other expenses (24a–d)Ln 24$1.8M$1.8M$12K
Total functional expensesLn 25$32.8M$28.9M$4.0M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $29.9M$32.8M−$2.9M−$36.8M 990 PDF
FY2023 $24.8M$28.5M−$3.7M−$35.8M 990 PDF
FY2022 $23.2M$26.7M−$3.5M−$31.6M 990 PDF
FY2021 $20.9M$24.9M−$4.0M−$27.9M 990 PDF
FY2020 $27.2M$26.3M$861K−$24.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $29,945,548 across 11 lines filed
Lines not itemized here account for $8,463 of total revenue; see the IRS return.
VIII-1b Membership dues$649,900
VIII-1e Government grants$821,895
VIII-1h Total contributions, gifts and grants$1,471,795
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $27,037,302$27,037,302
VIII-3 Investment incomeExcluded from tax $62,754$62,754
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,365,234$1,365,234
VIII-12 Total revenueRelated to mission $28,410,999 · Excluded from tax $62,754$29,945,548
Part IX · Statement of functional expenses $32,813,302 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffManagement $1,639,475$1,639,475
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $930,926 · Management $1,213,076$2,144,002
IX-8 Pension plan contributionsPrograms $20,768 · Management $30,926$51,694
IX-9 Other employee benefitsPrograms $113,006 · Management $155,735$268,741
IX-10 Payroll taxesPrograms $141,090 · Management $96,997$238,087
IX-11a Management feesPrograms $440,312$440,312
IX-11b Legal feesPrograms $163,964 · Management $42,054$206,018
IX-11c Accounting feesManagement $73,397$73,397
IX-11d Lobbying feesPrograms −$2,000−$2,000
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $270,709 · Management $102,265$372,974
IX-12 Advertising and promotionPrograms $1,000,911 · Management $688$1,001,599
IX-13 Office expensesPrograms $4,762 · Management $113,280$118,042
IX-14 Information technologyPrograms $6,600 · Management $262,826$269,426
IX-15 Royalties$0
IX-16 OccupancyPrograms $21,164,649 · Management $81,531$21,246,180
IX-17 TravelPrograms $9,877 · Management $37,276$47,153
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $1,846 · Management $12,031$13,877
IX-20 InterestPrograms $2,242,790$2,242,790
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $44,680 · Management $13,364$58,044
IX-23 InsurancePrograms $527,887 · Management $67,839$595,726
IX-24 Other expenses (24a–d)Programs $1,775,804 · Management $11,961$1,787,765
IX-25 Total functional expensesPrograms $28,858,581 · Management $3,954,721 · Fundraising $0$32,813,302
Part X · Balance sheet $147,477,560 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $8,389,934$8,244,569
X-2 Savings and temporary cash investmentsStart of year $1,334,287$1,435,376
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $908,261$1,280,603
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $524,054$458,056
X-10c Land, buildings and equipment, netStart of year $123,235$84,846
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $1,247,417$3,201,634
X-14 Intangible assetsStart of year $19,199,171$18,565,850
X-15 Other assetsStart of year $110,434,519$114,206,626
X-16 Total assetsStart of year $142,160,878$147,477,560
X-17 Accounts payable and accrued expensesStart of year $10,099,159$3,631,507
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $1,726,246$3,102,544
X-20 Tax-exempt bond liabilitiesStart of year $40,986,481$38,417,973
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $119,272,387$133,902,837
X-26 Total liabilitiesStart of year $177,978,291$184,271,845
X-27 Net assets without donor restrictionsStart of year −$35,817,413−$36,794,285
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year −$35,817,413−$36,794,285
X-33 Total liabilities and net assetsStart of year $142,160,878$147,477,560
Part XI · Reconciliation of net assets −$36,794,285 net assets at year end
XI-1 Total revenue$29,945,548
XI-2 Total expenses$32,813,302
XI-3 Revenue less expenses−$2,867,754
XI-4 Net assets at start of year−$35,817,413
XI-5 Net unrealized gains (losses) on investments$1,890,882
XI-10 Net assets at end of year−$36,794,285

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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