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Nonprofiteer
← THE CENTER FOR NEW YORK CITY

Form 990 for tax year 2024

Filed by THE CENTER FOR NEW YORK CITY.

Totals

Total revenue
$46,042,150
Total expenses
$36,915,641
Contributions and grants received
$44,313,415
Grants paid
$2,252,659
Program service revenue
$0
Investment income
$54,677
Other revenue
$1,674,058
Total assets, end of year
$125,382,376
Total liabilities, end of year
$17,526,266
Net assets or fund balances, end of year
$107,856,110
Program services expenses (Part IX)
$32,764,412
Management and general expenses
$3,473,637
Fundraising expenses
$677,592
Program service expenses (Part III)
$32,764,412

Program services were 88.8% 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.

  • 1e · Government grants (contributions)

    $31,493,154

  • 1f · All other contributions, gifts and grants

    $12,820,261

  • 3 · Investment income

    total $123,144 · excluded $123,144

  • 7a · Gross sales of assets other than inventory

    other assets $74,835

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

    other assets $143,302

  • 7c · Gain or loss

    other assets -$68,467

  • 7d · Net gain or loss

    total -$68,467 · related or exempt -$68,467

  • 11a · Other revenue: MISCELLANEOUS

    total $1,674,058 · related or exempt $1,674,058

  • 11e · Other revenue, total

    $1,674,058

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,252,659 · program services $2,252,659

  • 5 · Compensation of officers, directors and key employees

    total $488,196 · program services $334,901 · management and general $85,278 · fundraising $68,017

  • 7 · Other salaries and wages

    total $8,815,533 · program services $7,433,610 · management and general $1,026,935 · fundraising $354,988

  • 8 · Pension plan contributions

    total $298,490 · program services $251,527 · management and general $34,835 · fundraising $12,128

  • 9 · Other employee benefits

    total $1,694,370 · program services $1,429,120 · management and general $197,075 · fundraising $68,175

  • 10 · Payroll taxes

    total $860,754 · program services $719,987 · management and general $102,417 · fundraising $38,350

  • 11b · Fees: legal

    total $388,716 · management and general $388,716

  • 11d · Fees: lobbying

    total $78,630 · program services $78,630

  • 11g · Fees: other

    total $2,191,806 · program services $945,944 · management and general $1,202,614 · fundraising $43,248

  • 12 · Advertising and promotion

    total $321,894 · program services $321,894

  • 13 · Office expenses

    total $53,921 · program services $44,016 · management and general $7,908 · fundraising $1,997

  • 14 · Information technology

    total $894,882 · program services $720,575 · management and general $144,881 · fundraising $29,426

  • 16 · Occupancy

    total $262,637 · program services $197,458 · management and general $54,030 · fundraising $11,149

  • 17 · Travel

    total $209,736 · program services $159,870 · management and general $41,170 · fundraising $8,696

  • 20 · Interest

    total $258,596 · program services $204,291 · management and general $43,961 · fundraising $10,344

  • 22 · Depreciation, depletion and amortization

    total $9,555 · program services $7,166 · management and general $2,007 · fundraising $382

  • 23 · Insurance

    total $222,581 · program services $176,476 · management and general $37,523 · fundraising $8,582

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $15,578,194 · program services $15,578,194

  • 24b · Other expenses: SUBCONTRACTED PROGRAM

    total $1,470,241 · program services $1,470,241

  • 24c · Other expenses: SUPPLIES

    total $244,665 · program services $183,948 · management and general $50,331 · fundraising $10,386

  • 24d · Other expenses: MISCELLANEOUS

    total $216,033 · program services $172,253 · management and general $35,884 · fundraising $7,896

  • 24e · All other expenses

    total $103,552 · program services $81,652 · management and general $18,072 · fundraising $3,828

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,689,158 · end of year $12,337,688

  • 2 · Savings and temporary cash investments

    beginning of year $8,304,219 · end of year $6,776,368

  • 3 · Pledges and grants receivable

    beginning of year $12,473,903 · end of year $12,306,042

  • 4 · Accounts receivable

    beginning of year $57,596 · end of year $56,892

  • 7 · Other notes and loans receivable

    beginning of year $90,147,196 · end of year $93,589,029

  • 9 · Prepaid expenses and deferred charges

    beginning of year $268,890 · end of year $278,357

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

    $155,808

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

    $155,808

  • 10c · Land, buildings and equipment, net

    beginning of year $78,022 · end of year $0

  • 15 · Other assets

    beginning of year $251,003 · end of year $38,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,287,200 · end of year $966,126

  • 18 · Grants payable

    beginning of year $1,754,240 · end of year $2,635,534

  • 19 · Deferred revenue

    beginning of year $17,752,943 · end of year $10,424,606

  • 24 · Unsecured notes and loans payable

    beginning of year $3,500,000 · end of year $3,500,000

  • 25 · Other liabilities

    beginning of year $246,003 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $75,043,660 · end of year $75,897,552

  • 28 · Net assets with donor restrictions

    beginning of year $23,685,941 · end of year $31,958,558

Mission and programs · 2024

Mission

OUR MISSION IS TO PROMOTE AND PROTECT AFFORDABLE HOMEOWNERSHIP IN NEW YORK SO THAT MIDDLE- AND WORKING-CLASS FAMILIES ARE ABLE TO BUILD STRONG, THRIVING COMMUNITIES.

Activities or mission (Part I)

SEE SCHEDULE O.

  • LENDING & CAPITAL: THE CENTER'S WHOLLY-OWNED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION ("CDFI") SUBSIDIARY, SUSTAINABLE NEIGHBORHOODS, LLC ("SN LLC OR "AFFILIATE"), CONDUCTS DIRECT LENDING AND PROVIDES FINANCIAL ASSISTANCE TO LOW OR MODERATE-INCOME FAMILIES, DEMONSTRATING MODELS FOR MORTGAGE ORIGINATION AND SERVICING AT SCALE FOR HOMEOWNERS. BY OFFERING REASONABLY PRICED MORTGAGE LOANS, RESPONSIBLE SERVICING, AND EFFECTIVE MORTGAGE COUNSELING, AND/OR INTEGRATING OUTSIDE QUALIFIED NONPROFIT COUNSELING ORGANIZATIONS TO SUPPORT ALL APPLICANTS, THE CENTER ENABLES ASSET-BUILDING AND SUSTAINABLE WEALTH FOR HOMEOWNERS WHO ARE NOT SERVED BY TRADITIONAL CAPITAL OR BANKING OUTLETS. THROUGH DECEMBER 31, 2024, SN LLC HAS PROVIDED $559.8 MILLION IN LOANS TO HOMEOWNERS AT RISK OF FORECLOSURE. THE CONSOLIDATED FINANCIAL STATEMENTS INCLUDE THE OPERATIONS OF THE CENTER AND SN LLC.

    Expenses $25,713,881 · Grants $951,790 · Revenue $1,605,591

  • HOMEOWNER SERVICES: THE CENTER DEVELOPS AND IMPLEMENTS PROGRAMS THAT MEET CRITICAL HOMEOWNER NEEDS, INCLUDING FORECLOSURE PREVENTION ADVICE AND ASSISTANCE, STORM RECOVERY ASSISTANCE, RESILIENCY COUNSELING, HELP WITH REPAIRS, ADVICE ON ENERGY EFFICIENCY, AND MORE. THE CENTER ALSO COORDINATES AND FUNDS A NETWORK OF NONPROFIT COMMUNITY-BASED HOUSING COUNSELING AND LEGAL SERVICE PROVIDERS THAT ACT AS A SAFETY NET FOR FAMILIES ACROSS NY STATE. WHEN NEEDED, THE CENTER ALSO PROVIDES DIRECT COUNSELING TO HOMEOWNERS TO FILL SERVICE GAPS.

    Expenses $4,827,090 · Grants $1,235,869

  • SYSTEMS CHANGE: THE CENTER EMPLOYS A CONTINUOUS CYCLE OF RESEARCH, ADVOCACY, THOUGHT LEADERSHIP, PILOT PROGRAMS AND TECHNICAL ASSISTANCE TO MAKE THE CASE FOR GOVERNMENTAL CHANGES, PROGRAMS AND INVESTMENTS THAT STABILIZE HOMEOWNERS AND EXPAND AFFORDABLE HOMEOWNERSHIP. THE CENTER'S RESEARCH IS DRIVEN BY DATA AND BY EXPERIENCE ON THE GROUND WITH HOMEOWNERS, AND ANALYZES PAST AND CURRENT TRENDS TO SHED LIGHT ON BAD PRACTICES AND MAKE RECOMMENDATIONS ON BEST PRACTICES AND POLICIES. THESE EFFORTS ARE AIMED AT BOTH SUSTAINING THE CENTER AND ITS VISION, PROGRAMS AND INTERVENTIONS, AND AT BUILDING THE CAPACITY, STRENGTH AND ORGANIZATION OF THE FIELD.

    Expenses $2,223,441 · Grants $65,000

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Adolfo Carrin Jr

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Baaba Halm

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Cathleen Mahon

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Colvin Grannum

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Eric Ederlin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Frederick Harris

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Gwen Robinson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Hakim Thompson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Joe Weisbord

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Jonathan Mintz

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Louise Carroll

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Mathew Wambua

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Merilyn Rovira

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sam Marks

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tanya Johnson-Barnett

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Valerie White

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Christie Peale

    EXECUTIVE DIRECTOR

    Total calculated
    $260,333
    From this org
    $212,833
    From related orgs
    $0
    Other
    $47,500
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $201,833
    Bonus
    $0
    Other
    $11,000
    Deferred
    $6,600
    Nontaxable benefits
    $40,900
    Filer's total
    $260,333

  • Natasha N Pallan

    CHIEF FINANCIAL OFFICER

    Total calculated
    $227,863
    From this org
    $184,525
    From related orgs
    $0
    Other
    $43,338
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,375
    Bonus
    $0
    Other
    $27,150
    Deferred
    $5,717
    Nontaxable benefits
    $37,621
    Filer's total
    $227,863

  • Braden Z Listmann

    VP OF PROGRAM DELIVERY

    Total calculated
    $185,042
    From this org
    $137,056
    From related orgs
    $0
    Other
    $47,986
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,555
    Bonus
    $0
    Other
    $14,501
    Deferred
    $4,350
    Nontaxable benefits
    $43,636
    Filer's total
    $185,042

  • Jessica Wells-Hasan

    VP OF DEV. AND EXTERNAL AFFAIRS

    Total calculated
    $210,090
    From this org
    $181,913
    From related orgs
    $0
    Other
    $28,177
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $161,903
    Bonus
    $0
    Other
    $20,010
    Deferred
    $5,457
    Nontaxable benefits
    $22,720
    Filer's total
    $210,090

  • Mireille Martineau

    DIRECTOR, HAF

    Total calculated
    $173,576
    From this org
    $135,000
    From related orgs
    $0
    Other
    $38,576
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $103,322
    Bonus
    $0
    Other
    $31,678
    Deferred
    $4,050
    Nontaxable benefits
    $34,526
    Filer's total
    $173,576

  • Pamela Bailey Sah

    CHIEF PROGRAM OFFICER

    Total calculated
    $197,939
    From this org
    $175,147
    From related orgs
    $0
    Other
    $22,792
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $161,275
    Bonus
    $0
    Other
    $13,872
    Deferred
    $5,355
    Nontaxable benefits
    $17,437
    Filer's total
    $197,939

  • Sarah A Stevenson

    DIRECTOR OF FINANCE

    Total calculated
    $174,084
    From this org
    $129,448
    From related orgs
    $0
    Other
    $44,636
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $115,953
    Bonus
    $0
    Other
    $13,495
    Deferred
    $4,049
    Nontaxable benefits
    $40,587
    Filer's total
    $174,084

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 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 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

The filer's explanations (Part III)

SCHEDULE J, PART II, COLUMN (B)(III):
THE AMOUNTS IN THIS COLUMN REPRESENT VACATION CASHOUTS.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • SUSTAINABLE NEIGHBORHOODS LLC

    CONDUCTS DIR. LENDING AND PROVIDES FIN. ASSISTANCE TO LOW-TO MIDDLE-INCOME · DE · income $30,872,380 · assets $113,665,609

    Directly controlled by THE CENTER FOR THE NEW YORK CITY NEIGHBORHOODS INC

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202543219349317239

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