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Nonprofiteer
← NEW YORK MORTGAGE COALITION INC

Form 990 for tax year 2022

Filed by NEW YORK MORTGAGE COALITION INC.

What the amendment changed

Compared with the return it replaced , filed 13 November 2023. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$1,455,744 changed to $1,655,826
Total expenses
$1,476,349 changed to $1,719,692
Contributions and grants received
$1,424,453 changed to $1,624,535
Grants paid
$871,041 changed to $1,114,384
Total liabilities, end of year
$1,211,181 changed to $1,254,442
Net assets or fund balances, end of year
$1,896,330 changed to $1,853,069
Program services expenses
$1,383,848 changed to $1,627,191
Program service expenses (Part III)
$1,383,848 changed to $1,627,191

Totals

Total revenue
$1,655,826
Total expenses
$1,719,692
Contributions and grants received
$1,624,535
Grants paid
$1,114,384
Program service revenue
$18,986
Investment income
$12,290
Other revenue
$15
Total assets, end of year
$3,107,511
Total liabilities, end of year
$1,254,442
Net assets or fund balances, end of year
$1,853,069
Program services expenses (Part IX)
$1,627,191
Management and general expenses
$84,294
Fundraising expenses
$8,207
Program service expenses (Part III)
$1,627,191

Program services were 94.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1b · Membership dues

    $475,000

  • 1e · Government grants (contributions)

    $1,019,535

  • 1f · All other contributions, gifts and grants

    $130,000

  • 2a · Program service revenue: ADMINISTRATIVE FEE REV

    total $8,700 · related or exempt $8,700

  • 2b · Program service revenue: PROGRAM INCOME

    total $10,286 · related or exempt $10,286

  • 3 · Investment income

    total $21,109 · excluded $21,109

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $1,792,041

  • 7b · Less cost or other basis and sales expenses

    securities $1,800,860

  • 7c · Gain or loss

    securities -$8,819

  • 7d · Net gain or loss

    total -$8,819 · excluded -$8,819

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $15 · related or exempt $15

  • 11e · Other revenue, total

    $15

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,114,384 · program services $1,114,384

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $163,340 · program services $129,493 · management and general $27,183 · fundraising $6,664

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $163,678 · program services $147,700 · management and general $15,978

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $33,281 · program services $28,226 · management and general $4,381 · fundraising $674

  • 10 · Payroll taxes

    total $26,681 · program services $22,628 · management and general $3,513 · fundraising $540

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $31,507 · program services $9,204 · management and general $22,303

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $127,995 · program services $126,185 · management and general $1,569 · fundraising $241

  • 12 · Advertising and promotion

    total $210 · management and general $210

  • 13 · Office expenses

    total $5,875 · program services $4,310 · management and general $1,477 · fundraising $88

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $4,772 · program services $4,087 · management and general $685

  • 17 · Travel

    total $2,400 · program services $880 · management and general $1,520

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $2,139 · program services $1,818 · management and general $321

  • 23 · Insurance

    total $3,301 · program services $1,059 · management and general $2,242

  • 24a · Other expenses: Training

    total $27,334 · program services $27,334

  • 24b · Other expenses: Miscellaneous

    total $5,016 · program services $2,524 · management and general $2,492

  • 24c · Other expenses: PROGRAM SERVICE

    total $4,950 · program services $4,950

  • 24d · Other expenses: DUES AND SUBSCRIPTIONS

    total $2,829 · program services $2,409 · management and general $420

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $781,000 · end of year $575,095

  • 2 · Savings and temporary cash investments

    beginning of year $751,398 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $223,402 · end of year $568,005

  • 4 · Accounts receivable

    beginning of year $160,063 · end of year $215,070

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,405 · end of year $8,208

  • 10a · Land, buildings and equipment: cost or other basis

    $12,835

  • 10b · Land, buildings and equipment: accumulated depreciation

    $9,985

  • 10c · Land, buildings and equipment, net

    beginning of year $1,569 · end of year $2,850

  • 11 · Investments: publicly traded securities

    beginning of year $999,037 · end of year $1,738,283

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $113,632 · end of year $63,640

  • 18 · Grants payable

    beginning of year $187,436 · end of year $690,051

  • 19 · Deferred revenue

    beginning of year $530,456 · end of year $403,751

  • 25 · Other liabilities

    beginning of year $157,000 · end of year $97,000

  • 27 · Net assets without donor restrictions

    beginning of year $1,931,350 · end of year $1,738,069

  • 28 · Net assets with donor restrictions

    end of year $115,000

Mission and programs · 2022

Mission

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 FORCLOSURE PREVENTION PROGRAM.

Activities or mission (Part I)

EXPANDING HOMEOWNERSHIP OPPORTUNITIES FOR LOW AND MODERATE INCOME PERSONS AND FAMILIES.

  • HOUSING COUNSELING PROGRAM: NYMC HOUSING COUNSELING AGENCIES PROVIDE HOUSING COUNSELING SERVICES. 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. 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.

    Expenses $1,627,191 · Grants $1,114,384 · Revenue $18,986

As filed on the 2022 return.

Listed in Part VII

  • CAROLYN REBECCA SENN

    Executive Dir.

    Total calculated
    $163,340
    From this org
    $151,250
    From related orgs
    $0
    Other
    $12,090
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,250
    Bonus
    not reported
    Other
    not reported
    Deferred
    $1,530
    Nontaxable benefits
    $10,560
    Filer's total
    $163,340

  • Deborah Johnson

    President

    Total calculated
    $0
    Hours/week
    5

  • Marie Pedraza

    Vice President

    Total calculated
    $0
    Hours/week
    5

  • Donald Tom

    Treasurer

    Total calculated
    $0
    Hours/week
    5

  • Yangchen Chadotsang

    Secretary

    Total calculated
    $0
    Hours/week
    5

  • Bernadette M Mueller

    Member

    Total calculated
    $0
    Hours/week
    2

  • Rev Dr Charles Butler

    Member

    Total calculated
    $0
    Hours/week
    2

  • Domenico Ciaccio

    Member

    Total calculated
    $0
    Hours/week
    2

  • Lynn R Ally

    Member

    Total calculated
    $0
    Hours/week
    2

  • Mark Castle

    Member

    Total calculated
    $0
    Hours/week
    2

  • Michael Esposito

    Member

    Total calculated
    $0
    Hours/week
    2

  • Peter Elkowitz

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • Martha Abrams

    Member

    Total calculated
    $0
    Hours/week
    2

  • Patricia Strong

    Member

    Total calculated
    $0
    Hours/week
    2

  • Elaine Dovas

    Member

    Total calculated
    $0
    Hours/week
    2

  • Dwayne Wright

    Member

    Total calculated
    $0
    Hours/week
    2

  • Nia Rock

    Member

    Total calculated
    $0
    Hours/week
    2

  • Mariely Moronta- Sanchez

    Member

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
5 November 2025
IRS schema version
2022v5.0
Source object
202503099349302885

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