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Nonprofiteer
← COMMUNITY CAPITAL NEW YORK INC

Form 990 for tax year 2022

Filed by COMMUNITY CAPITAL NEW YORK INC.

Totals

Total revenue
$3,053,463
Total expenses
$2,023,496
Contributions and grants received
$1,294,297
Grants paid
$0
Program service revenue
$1,750,991
Investment income
$8,175
Other revenue
$0
Total assets, end of year
$16,189,628
Total liabilities, end of year
$8,104,847
Net assets or fund balances, end of year
$8,084,781
Program services expenses (Part IX)
$1,742,217
Management and general expenses
$224,747
Fundraising expenses
$56,532
Program service expenses (Part III)
$1,742,217

Program services were 86.1% 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)

    $688,946

  • 1f · All other contributions, gifts and grants

    $605,351

  • 2a · Program service revenue: ADMIN FEE INCOME

    total $1,334,604 · related or exempt $1,334,604

  • 2b · Program service revenue: INTEREST ON LOANS

    total $367,254 · related or exempt $367,254

  • 2c · Program service revenue: LOAN ORIGINATION FEES

    total $49,133 · related or exempt $49,133

  • 3 · Investment income

    total $8,175 · excluded $8,175

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $196,985 · program services $157,587 · management and general $19,699 · fundraising $19,699

  • 7 · Other salaries and wages

    total $751,117 · program services $731,261 · management and general $14,919 · fundraising $4,937

  • 8 · Pension plan contributions

    total $25,219 · program services $16,893 · management and general $8,326

  • 9 · Other employee benefits

    total $25,823 · program services $16,780 · management and general $8,552 · fundraising $491

  • 10 · Payroll taxes

    total $70,663 · program services $66,904 · management and general $2,279 · fundraising $1,480

  • 11b · Fees: legal

    total $295 · management and general $295

  • 11c · Fees: accounting

    total $66,300 · program services $25,155 · management and general $39,780 · fundraising $1,365

  • 11g · Fees: other

    total $450,940 · program services $350,159 · management and general $88,871 · fundraising $11,910

  • 12 · Advertising and promotion

    total $17,916 · program services $15,345 · management and general $431 · fundraising $2,140

  • 13 · Office expenses

    total $96,992 · program services $64,319 · management and general $29,688 · fundraising $2,985

  • 14 · Information technology

    total $99,871 · program services $91,962 · management and general $4,103 · fundraising $3,806

  • 16 · Occupancy

    total $39,252 · program services $34,664 · management and general $2,662 · fundraising $1,926

  • 20 · Interest

    total $115,410 · program services $115,410

  • 23 · Insurance

    total $16,895 · program services $13,868 · management and general $2,256 · fundraising $771

  • 24a · Other expenses: EDUCATION/TRAINING

    total $24,115 · program services $20,655 · management and general $2,886 · fundraising $574

  • 24b · Other expenses: LOAN EXPENSE

    total $20,535 · program services $20,535

  • 24c · Other expenses: DEVELOPMENT

    total $4,448 · fundraising $4,448

  • 24d · Other expenses: REPAIRS & MAINTENANCE

    total $720 · program services $720

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,237,656 · end of year $7,340,629

  • 2 · Savings and temporary cash investments

    beginning of year $1,389,601 · end of year $1,702,305

  • 3 · Pledges and grants receivable

    beginning of year $554,394 · end of year $334,557

  • 4 · Accounts receivable

    beginning of year $21,463 · end of year $141,897

  • 9 · Prepaid expenses and deferred charges

    beginning of year $22,583 · end of year $20,253

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

    $26,408

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

    $26,408

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $4,537,862 · end of year $6,550,068

  • 15 · Other assets

    beginning of year $6,088 · end of year $99,919

  • 17 · Accounts payable and accrued expenses

    beginning of year $153,847 · end of year $371,086

  • 19 · Deferred revenue

    beginning of year $1,922,699 · end of year $2,351,469

  • 23 · Secured mortgages and notes payable

    beginning of year $5,160,087 · end of year $4,987,724

  • 25 · Other liabilities

    beginning of year $300,000 · end of year $394,568

  • 27 · Net assets without donor restrictions

    beginning of year $5,353,803 · end of year $7,404,043

  • 28 · Net assets with donor restrictions

    beginning of year $1,879,211 · end of year $680,738

Mission and programs · 2022

Mission

COMMUNITY CAPITAL IS A NONPROFIT LENDER THAT HAS REVITALIZED COMMUNITIES AND TRANSFORMED LIVES IN THE MID-HUDSON VALLEY, BRONX AND FAIRFIELD COUNTY, CT FOR 32 YEARS. OUR MISSION IS TO FOSTER ECONOMIC OPPORTUNITY FOR UNDERSERVED INDIVIDUALS AND LOW WEALTH COMMUNITIES BY PROVIDING INNOVATIVE LOANS AND BUSINESS TRAINING THAT SUPPORTS ENTREPRENEURS AND THE DEVELOPMENT OF AFFORDABLE HOMES SO THAT ALL RESIDENTS CAN BE STAKEHOLDERS IN A MORE INCLUSIVE ECONOMY.

Activities or mission (Part I)

COMMUNITY CAPITAL IS A NONPROFIT LENDER THAT HAS REVITALIZED COMMUNITIES AND TRANSFORMED LIVES IN THE MID-HUDSON VALLEY, BRONX AND FAIRFIELD COUNTY, CT FOR 32 YEARS. OUR MISSION IS TO FOSTER ECONOMIC OPPORTUNITY FOR UNDERSERVED INDIVIDUALS AND LOW WEALTH COMMUNITIES BY PROVIDING INNOVATIVE LOANS AND BUSINESS TRAINING THAT SUPPORTS ENTREPRENEURS, AND THE DEVELOPMENT OF AFFORDABLE HOMES SO THAT ALL RESIDENTS CAN BE STAKEHOLDERS IN A MORE INCLUSIVE ECONOMY.

  • SEE SCHEDULE O - SMALL BUSINESS LENDING AND TECHNICAL ASSISTANCECOMMUNITY CAPITAL BEGAN WORKING WITH SMALL BUSINESS OWNERS IN 2003 AND RECEIVED SBA CERTIFICATION TO OFFER MICRO LOANS IN 2007. SINCE THEN, COMMUNITY CAPITAL HAS MADE $12.5 MILLION IN LOANS TO OVER 500 BUSINESSES AND HAS EMERGED AS THE LARGEST NONPROFIT SMALL BUSINESS LENDER IN THE HUDSON VALLEY. MOST OF OUR SMALL BUSINESS CLIENTS ARE LOW- TO MODERATE-INCOME, WOMEN, AND ENTREPRENEURS OF COLOR WHO HAVE HAD DIFFICULTY ACCESSING CAPITAL FROM TRADITIONAL BANKS TO GROW THEIR BUSINESSES. AT COMMUNITY CAPITAL WE WORK TO IDENTIFY THE BEST SOLUTIONS FOR EACH INDIVIDUAL BUSINESS OWNER. WE OFFER FAIR, TRANSPARENT LOANS AND LINES OF CREDIT WITH FLEXIBLE RATES AND TERMS. BORROWERS ALSO RECEIVE FREE, ON-GOING FINANCIAL COACHING, ONE-ON-ONE CONSULTING AND BUSINESS TRAINING SERVICES TO ENSURE SUSTAINABLE RESULTS.

    Expenses $1,457,921 · Revenue $1,503,651

  • SEE SCHEDULE O - COMMUNITY DEVELOPMENT AND AFFORDABLE HOUSING LENDING PROGRAMCOMMUNITY CAPITAL NEW YORK PARTNERS WITH PRIVATE AND NONPROFIT REAL ESTATE DEVELOPERS TO EXPAND AFFORDABLE HOUSING OPPORTUNITIES FOR LOW- AND MODERATE-INCOME INDIVIDUALS AND FAMILIES ACROSS NEW YORK STATE. AS A FLEXIBLE AND MISSION DRIVEN LENDER, CCNY IS COMMITTED TO SUPPORTING AFFORDABLE HOUSING DEVELOPERS WITH BOTH CAPITAL AND TECHNICAL ASSISTANCE. THROUGH A REVOLVING LOAN FUND, COMMUNITY CAPITAL NEW YORK WORKS COLLABORATIVELY AND CREATIVELY TO ADDRESS THE CAPITAL NEEDS OF AFFORDABLE HOUSING DEVELOPMENT PROJECTS. CCNY PROVIDES EARLY-STAGE PRE-DEVELOPMENT LOANS, ACQUISITION LOANS, BRIDGE LOANS, AND CONSTRUCTION LOAN FINANCING. CCNY SUPPORTS NEW CONSTRUCTION, REHABILITATION, ADAPTIVE RE-USE, MULTI-FAMILY, SINGLE-FAMILY, MIXED-USE, MIXED-INCOME AND SUPPORTIVE AFFORDABLE HOUSING FOR SENIORS, VETERANS, AND PEOPLE WITH DISABILITIES OR EXPERIENCING HOMELESSNESS. CCNY PROVIDES FINANCING TO DEVELOPERS BUILDING BOTH AFFORDABLE HOMEOWNERSHIP AND MULTIFAMILY RENTAL UNITS. CCNY PROVIDES TECHNICAL ASSISTANCE WHEN IT IS NEEDED TO HELP MOVE AFFORDABLE HOUSING PROJECTS THROUGH DEVELOPMENT. CCNY FINANCES HIGH-IMPACT COMMUNITY DEVELOPMENT PROJECTS THROUGH OUR LENDING PROGRAM WHICH SUPPORTS THE DEVELOPMENT OF SAFE AND HIGH-QUALITY AFFORDABLE HOUSING WITH IS AN ESSENTIAL BUILDING BLOCK FOR FAMILIES AND INDIVIDUALS AND IS LINKED TO HEALTH AND WELLNESS, STRONG CHILD AND YOUTH DEVELOPMENT, POSITIVE EDUCATIONAL OUTCOMES, EMPLOYMENT OPPORTUNITIES AND PERSONAL AND NEIGHBORHOOD SAFETY.

    Expenses $284,296 · Revenue $247,340

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • William Merz IV

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Richard Hecht

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Yvette Wynn

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Richard St Paul Esq

    CHAIR OF LOAN COMMITTEE

    Total calculated
    $0
    Hours/week
    2

  • Neil Alexander

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • M John Constable

    DIRECTOR THRU 01/13/23

    Total calculated
    $0
    Hours/week
    2

  • Robert M Greene

    DIRECTOR THRU 01/12/23

    Total calculated
    $0
    Hours/week
    2

  • Alexandra Hanson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Amanda Kelso

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Daniel A Lansen

    DIRECTOR THRU 10/14/22

    Total calculated
    $0
    Hours/week
    2

  • Anderson Mitchell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Vladimer Ortega

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Edward Quinn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • H Philip Salmon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Glen Ventromile

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ian Benjamin

    INTERIM PRESIDENT & CEO FROM 11/7/22

    Total calculated
    $30,701
    From this org
    $29,167
    From related orgs
    $0
    Other
    $1,534
    Hours/week
    40

  • Farshad Maltes

    FORMER CEO THRU 07/22/22

    Total calculated
    $171,440
    From this org
    $171,440
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $117,940
    Bonus
    $0
    Other
    $53,500
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $171,440

  • Elissa Bard

    COO THRU 03/03/23

    Total calculated
    $157,299
    From this org
    $145,833
    From related orgs
    $0
    Other
    $11,466
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,250
    Bonus
    $14,583
    Other
    $0
    Deferred
    $5,833
    Nontaxable benefits
    $5,633
    Filer's total
    $157,299

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 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 7 · Other non-fixed payments

Answered no

  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4A
FARSHAD MALTES RECEIVED A $53,500 SEVERANCE PAYMENT IN AUGUST 2022.
PART I, LINE 7
EMPLOYEES LISTED IN SCHEDULE J RECEIVED A BONUS IN THEIR 2022 W2 AS REPORTED IN PART II, COL. B.

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
13 May 2024
IRS schema version
2022v5.0
Source object
202401349349308975

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