2017-11-09T14:28:04-06:00 2016-12-31 133516375 N CHENG AND CO PC 40 WALL STREET SUITE 3222 NEW YORK NY 10005 990 2016-01-01 300021150 NEW YORK MORTGAGE COALITION INC NEWY 2127420762 85 BROAD STREET 17TH FLOOR NEW YORK NY 10004 CAROLYN REBECCA SENN EXECUTIVE DIRECTOR 2127420762 2017-11-09 1 JENNIFFER SANCHEZ P02040580 2127850100 2017-11-08 208.255.77.21 2017-11-09 15:27:43 ES P 2145911AF22BF93963C5B745ECC64C97A0BCC385 4560C425F2D2504792D4334C57BC94321BE72171 2016 2018-03-14 21:41:22Z CAROLYN REBECCA SENN 85 BROAD STREET 17TH FLOOR NEW YORK NY 10004 951834 0 X WWW.NYMC.ORG X 2001 NY EXPANDING HOMEOWNERSHIP OPPOURTUNITIES FOR LOW AND MODERATE INCOME PERSONS AND FAMILIES 19 19 2 0 0 0 868072 916142 99670 35432 264 260 128 0 968134 951834 554363 558044 0 0 0 105984 0 0 5063 436343 271059 990706 935087 -22572 16747 1070329 947824 526485 387233 543844 560591 X THE NEW YORK MORTGAGE COALITION (NYMC) IS A NONPROFIT COLLABORATION OF FINANCIAL INSTITUTIONS AND COMMUNITY HOUSING AGENCIES FOCUSED ON EXPANDING THE OPPORTUNITY FOR RESPONSIBLE AND SUSTAINABLE HOMEOWNERSHIP TO MINORITY, AND LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES IN FIVE BOROUGHS OF NEW YORK, AS WELL AS THE SURROUNDING COUNTIES OF NASSAU, SUFFOLK, DUTCHESS, ORANGE, ROCKLAND, AND WESTCHESTER. NYMC SUPPORTS ITS NEIGHBORHOOD-BASED NONPROFIT MEMBERS IN THEIR PRE-PURCHASE COUNSELING, POST-PURCHASE EDUCATION, AND FINANCIAL LITERACY PROGRAMS. COALITION MEMBERS PROVIDE THE PUBLIC WITH ACCESS TO THE TOOLS TO ACHIEVE THE DREAM OF HOMEOWNERSHIP INCLUDING INFORMATION ON COMPETITIVE, FIXED-RATE LOANS, CLOSING COST GRANTS, AND DOWN PAYMENTS ASSISTANCE. NYMC ALSO SUPPORTS ITS MEMBER AGENCIES WHO PLAY A LEADING ROLE IN PRESERVING HOMEOWNERSHIP OFFERING INFORMATIONAL WORKSHOPS AND ONE-ON-ONE COUNSELING TO TROUBLED HOMEOWNERS THROUGH FORECLOSURE PREVENTION PROGRAMS. 0 0 843324 558044 35432 HOUSING COUNSELING PROGRAM : NYMC HOUSING COUNSELING AGENCIES PROVIDE HOUSING COUNSELING SERVICES FOR OVER 2,500 CLIENTS IN 2016. CLIENTS WHO RECEIVE A HOMEOWNERSHIP CERTIFICATE OF COMPLETION MUST COMPLETE A MINIMUM OF 8 HOURS OF EDUCATION; 6 HOURS IN A CLASSROOM SETTING AND 2 HOURS OF ONE-ON-ONE COUNSELING WITH A HOMEOWNERSHIP COUNSELOR. IN 2016 NYMC GENERATED 376 MORTGAGE COMMITMENTS. 2 OUT OF 3 CLIENTS ENROLLED IN NYMC'S ONE-ON-ONE COUNSELING PROGRAM BECOME MORTGAGE -READY WITHIN 6 TO 12 MONTHS. SINCE INCEPTION, NYMC HAS PROVIDED HOMEOWNERSHIP COUNSELING TO MORE THAN 30,000 LOW TO MIDDLE INCOME FAMILIES AND HELPED ORIGINATE OVER $1 BILLION IN AFFORDABLE FIRST-HOME MORTGAGES. 28000 NYMC'S STUDENT LOAN PILOT INITIATIVE - NEW YORK MORTGAGE COALITION FACILITATED 10 WEBINARS ON STUDENT LOANS LED BY THE COUNSELOR'S CORNER. MATERIALS COVERED INCLUDE PREPARING FOR THE COST OF FUNDING A COLLEGE EDUCATION, REPAYMENT OPTIONS FOR PRIVATE AND FEDERAL LOANS, LOAN REPAYMENT TOOLS, WHAT TO DO IF THE LOAN IS IN DEFAULT, AND PREPARING FOR HOMEOWNERSHIP." 871324 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2 0 1 2 1 0 0 0 0 0 0 0 0 0 0 0 0 X 19 19 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X X CAROLYN REBECCA SENN 2127420762 85 BROAD STREET17TH FLOOR NEW YORK NY 10004 MARIE PEDRAZA PRESIDENT 5.00 X X 0 0 0 DEBORAH L JOHNSON VICE PRESIDENT 5.00 X X 0 0 0 ANTHONY J MANCUSI TREASURER 5.00 X X 0 0 0 MARIADELE PRIEST SECRETARY 5.00 X X 0 0 0 ANIE AKPE-LEWIS MEMBER 3.00 X 0 0 0 BARBARA A KELLY MEMBER 3.00 X 0 0 0 CHRISTINE HAASE MEMBER 3.00 X 0 0 0 BERNADETTE M MUELLER MEMBER 3.00 X 0 0 0 CHRISTINE HAASE MEMBER 3.00 X 0 0 0 CHARLES BUTLER MEMBER 3.00 X 0 0 0 DAVID WYNNE MEMBER 3.00 X 0 0 0 DWAYNE JONES MEMBER 3.00 X 0 0 0 JACKIE O'GARROW MEMBER 3.00 X 0 0 0 JASON C JEFFERIES NON-VOTING MEMBER 3.00 X 0 0 0 JOSEPH DUFFY MEMBER 3.00 X 0 0 0 JOSEPH WEISBORD NON-VOTING MEMBER 3.00 X 0 0 0 MARK CASTLE MEMBER 3.00 X 0 0 0 MICHAEL ESPOSITO NON-VOTING MEMBER 3.00 X 0 0 0 NAIMA OYO MEMBER 3.00 X 0 0 0 PETER ELKOWITZ MEMBER 3.00 X 0 0 0 ROSEMARIE NOONAN MEMBER 3.00 X 0 0 0 WENDY TAKAHISA MEMBER 3.00 X 0 0 0 CAROLYN REBECCA SENN EXECUTIVE DIRECTOR 40.00 X 52617 0 3910 52617 0 3910 0 0 0 0 0 490500 373040 52602 916142 PROGRAM INCOME 561000 24332 24332 ADMINISTRATIVE FEE REV 453310 11100 11100 35432 260 260 951834 35432 0 260 558044 558044 53333 40000 10666 2667 36667 32028 4639 8091 6475 1376 240 7893 6317 1342 234 77568 64812 11020 1736 33126 11213 21913 48262 46401 1675 186 6463 6257 206 8564 7170 1394 12451 10583 1868 4619 3824 795 1466 1466 PROGRAM FEES 64850 64850 OTHER EXPENSES 5570 5230 340 BAD DEBTS 4000 4000 TRAINING 2675 2675 1445 1445 935087 871324 58700 5063 464310 421317 269886 270147 178776 157938 157357 95205 1117 2100 1070329 947824 260767 59390 134718 197343 131000 130500 526485 387233 X 543844 551091 9500 543844 560591 1070329 947824 16747 0 X X 0 1 X 1 0 X 1333169 1435015 969623 868072 916142 5522021 1333169 1435015 969623 868072 916142 5522021 1311882 4210139 780 439 269 264 260 2012 6000 128 6128 5530161 472459 0.76130 0.75820 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 DEFERRED MEMBERSHIP DUES 39500 DUE TO COUNSELING GROUPS 91000 130500 X 951834 0 951834 0 951834 935087 0 935087 0 935087 PART X, LINE 2: NYMC IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. NYMC HAS ANALYZED TAX POSITIONS TAKEN FOR FILING WITH THE INTERNAL REVENUE SERVICE AND STATE JURISDICTIONS WHERE IT OPERATES. NYMC DOES NOT ANTICIPATE ANY SIGNIFICANT UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS. PERIODS ENDING DECEMBER 31, 2013 AND SUBSEQUENT REMAIN SUBJECT TO EXAMINATION BY THE TAXING AUTHORITIES. 1 ASIAN AMERICANS FOR EQUALITY COMMUNITY DEVELOPMENT FUND 111 DIVISION STREET NEW YORK NY 10002 133187792 IRC SECTION 501(C)(3 45000 FINANCIAL COUNSELING CHHAYA CDC 37-43 77TH STREET 2ND FLOOR JACKSON HEIGHTS NY 11372 113580935 IRC SECTION 501(C)(3 30000 FINANCIAL COUNSELING CYPRESS HILLS LDC 3214 FULTON STREET BROOKLYN NY 11208 112683663 IRC SECTION 501(C)(3 10000 FINANCIAL COUNSELING HOUSING ACTION COUNCIL 55 SOUTH BROADWAY TARRYTOWN NY 10591 132846967 IRC SECTION 501(C)(3 85097 FINANCIAL COUNSELING HARLEM CONGREGATION FOR COMMUNITY IMPROVEMENT 2854 FREDERICK DOUGLAS BLVD NEW YORK NY 10039 133516262 IRC SECTION 501(C)(3 75834 FINANCIAL COUNSELING LONG ISLAND HOUSING PARTNERSHIP 180 OSER AVENUE HAUPPAUGE NY 11788 112889068 IRC SECTION 501(C)(3 50000 FINANCIAL COUNSELING IMPACCT BROOKLYN 201 DEKALB AVENUE BROOKLYN NY 11205 112451752 IRC SECTION 501(C)(3 5931 FINANCIAL COUNSELING NEIGHBORS HELPING NEIGHBORSFIFTH AVENUE COMMITTEE 621 DEGRAW STREET BROOKLYN NY 11217 112475743 IRC SECTION 501(C)(3 51647 FINANCIAL COUNSELING MHANY MANAGEMENT INC 2-4 NEVINS STREET 2ND FLOOR BROOKLYN NY 11217 320007137 IRC SECTION 501(C)(3 23592 HOUSING COUNSELING MINKWON CENTER FOR COMMUNITY ACTION 136-19 41ST AVENUE 3RD FLOOR FLUSHING NY 11355 112710506 IRC SECTION 501(C)(3 7218 HOUSING COUNSELING NEIGHBORHOOD HOUSING SERVICE OF JAMAICA INC 89-70 162ND STREET JAMAICA NY 11432 237398279 IRC SECTION 501(C)(3 38405 HOUSING COUNSELING NEIGHBORHOOD HOUSING SERVICE OF NEW HAVEN INC 333 SHERMAN AVENUE NEW HAVEN CT 06511 061021268 IRC SECTION 501(C)(3 34663 HOUSING COUNSELING ARBOR HOUSING AND DEVELOPMENT 26 BRIDGE STREET CORNING NY 14830 161166737 IRC SECTION 501(C)(3 15061 HOUSING COUNSELING NORTHFIELD COMMUNITY LOCAL DEVELOPMENT CORPORATION 160 HEBERTON AVE STATEN ISLAND NY 10302 132974137 IRC SECTION 501(C)(3 27948 HOUSING COUNSELING THE PRESERVATION COMPANY 1037 MAIN STREET PEEKSKILL NY 10566 133352053 IRC SECTION 501(C)(3 24648 HOUSING COUNSELING AFFORDABLE HOUSING PARTNERSHIP 255 ORANGE STREET ALBANY NY 12210 141724900 IRC SECTION 501(C)(3 33000 HOUSING COUNSELING PART I, LINE 2: NYMC REQUIRES ALL MEMBER AGENCIES TO SUBMIT A SIGNED AFFILIATE AGREEMENT PRIOR TO DISBURSEMENT OF GRANT FUNDS EACH YEAR. GRANT RECIPIENTS ARE FURTHER REQUIRED TO SUBMIT MONTHLY PERFORMANCE REPORTS THAT DESCRIBE SPECIFIC ACTIVITIES, INCLUDING COUNSELING AND LOAN VOLUME. AGENCIES THAT DO NOT ADHERE TO REPORTING REQUIREMENTS ARE SUBJECT TO REVIEW. FORM 990, PART VI, SECTION A, LINE 4 ON DECEMBER 2016, THE BY-LAWS WERE REVISED DUE TO ADOPTION OF THE NONPROFIT REVITALIZATION ACT AND CHANGES MADE BY THE FEE STRUCTURE AND STRATEGIC PLANNING COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B BOARD MEMBERS ARE GIVEN THE FINAL FORM 990 ONCE IT IS COMPLETED AND FILED WITH THE IRS. THESE ARE AVAILABLE UPON REQUEST, AND DISTRIBUTED AT BOARD MEETINGS. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, EACH DIRECTOR IS REQUIRED TO COMPLETE A DIRECTOR DISCLOSURE STATEMENT. FORM 990, PART VI, SECTION B, LINE 15A THE ORGANIZATION COLLECTS COMPARATIVE DATA OF APPROPRIATE SALARY FOR THE EXECUTIVE DIRECTOR POSITION AND SHARES IT WITH BOARD MEMBERS. THE BOARD REVIEWS AND APPROVES THE CURRENT SALARY OF THE EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION C, LINE 19 INFORMATION IS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: NYMC HAS AN AUDIT COMMITTEE THAT ASSUMES THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF FINANCIAL STATEMENTS.