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Nonprofiteer
← COMMUNITY CAPITAL NEW YORK INC

Form 990 for tax year 2023

Filed by COMMUNITY CAPITAL NEW YORK INC.

Totals

Total revenue
$2,282,202
Total expenses
$2,160,925
Contributions and grants received
$1,362,969
Grants paid
$0
Program service revenue
$818,579
Investment income
$100,654
Other revenue
$0
Total assets, end of year
$15,465,607
Total liabilities, end of year
$7,408,211
Net assets or fund balances, end of year
$8,057,396
Program services expenses (Part IX)
$1,803,221
Management and general expenses
$293,185
Fundraising expenses
$64,519
Program service expenses (Part III)
$1,803,221

Program services were 83.4% 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)

    $882,462

  • 1f · All other contributions, gifts and grants

    $480,507

  • 2a · Program service revenue: INTEREST ON LOANS

    total $587,760 · related or exempt $587,760

  • 2b · Program service revenue: ADMIN FEE INCOME

    total $121,225 · related or exempt $121,225

  • 2c · Program service revenue: LOAN ORIGINATION FEES

    total $109,594 · related or exempt $109,594

  • 3 · Investment income

    total $9,934 · excluded $9,934

  • 7a · Gross sales of assets other than inventory

    other assets $1,191,701

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

    other assets $1,100,981

  • 7c · Gain or loss

    other assets $90,720

  • 7d · Net gain or loss

    total $90,720 · excluded $90,720

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $234,000 · program services $187,200 · management and general $23,400 · fundraising $23,400

  • 7 · Other salaries and wages

    total $877,818 · program services $828,318 · management and general $22,500 · fundraising $27,000

  • 8 · Pension plan contributions

    total $18,982 · program services $17,069 · management and general $899 · fundraising $1,014

  • 9 · Other employee benefits

    total $75,344 · program services $22,929 · management and general $52,027 · fundraising $388

  • 10 · Payroll taxes

    total $92,375 · program services $86,190 · management and general $3,051 · fundraising $3,134

  • 11c · Fees: accounting

    total $77,350 · program services $7,188 · management and general $70,041 · fundraising $121

  • 11g · Fees: other

    total $318,246 · program services $250,482 · management and general $62,986 · fundraising $4,778

  • 12 · Advertising and promotion

    total $14,402 · program services $9,934 · management and general $4,312 · fundraising $156

  • 13 · Office expenses

    total $65,916 · program services $39,004 · management and general $25,558 · fundraising $1,354

  • 14 · Information technology

    total $109,134 · program services $99,778 · management and general $7,222 · fundraising $2,134

  • 16 · Occupancy

    total $38,794 · program services $35,684 · management and general $2,346 · fundraising $764

  • 20 · Interest

    total $114,612 · program services $114,612

  • 22 · Depreciation, depletion and amortization

    total $388 · program services $388

  • 23 · Insurance

    total $11,671 · program services $7,933 · management and general $3,570 · fundraising $168

  • 24a · Other expenses: LOAN EXPENSE

    total $81,371 · program services $77,132 · management and general $4,239

  • 24b · Other expenses: EDUCATION/TRAINING

    total $29,102 · program services $18,032 · management and general $10,986 · fundraising $84

  • 24c · Other expenses: DEVELOPMENT

    total $1,200 · program services $1,128 · management and general $48 · fundraising $24

  • 24d · Other expenses: REPAIRS & MAINTENANCE

    total $220 · program services $220

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,340,629 · end of year $4,417,224

  • 2 · Savings and temporary cash investments

    beginning of year $1,702,305 · end of year $1,275,070

  • 3 · Pledges and grants receivable

    beginning of year $334,557 · end of year $230,405

  • 4 · Accounts receivable

    beginning of year $141,897 · end of year $75,085

  • 9 · Prepaid expenses and deferred charges

    beginning of year $20,253 · end of year $29,163

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

    $37,263

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

    $26,796

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $10,467

  • 13 · Investments: program-related

    beginning of year $6,550,068 · end of year $9,356,220

  • 15 · Other assets

    beginning of year $99,919 · end of year $71,973

  • 17 · Accounts payable and accrued expenses

    beginning of year $371,086 · end of year $174,804

  • 19 · Deferred revenue

    beginning of year $2,351,469 · end of year $1,158,949

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $55,000

  • 23 · Secured mortgages and notes payable

    beginning of year $4,987,724 · end of year $5,652,098

  • 25 · Other liabilities

    beginning of year $394,568 · end of year $367,360

  • 27 · Net assets without donor restrictions

    beginning of year $7,404,043 · end of year $7,455,288

  • 28 · Net assets with donor restrictions

    beginning of year $680,738 · end of year $602,108

Mission and programs · 2023

Mission

COMMUNITY CAPITAL CREATES ECONOMIC OPPPORTUNITIES FOR UNDERSERVED, HISTORICALLY DISADVANTAGED INDIVDUALS AND COMMUNITIES BY PROVIDING FLEXIBLE LOANS AND BUSINESS SUPPORT SERVICES TO LOW-INCOME SMALL BUSINESSES AND BY FUNDING THE DEVELOPMENT OF AFFORDABLE HOUSING.

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 35 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 $15.9 MILLION IN LOANS TO OVER 530 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 MINORITIES 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 $258,026 · Revenue $404,340

  • 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 $1,545,195 · Revenue $414,239

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • William Merz IV

    CHAIRMAN THRU 12/23

    Total calculated
    $0
    Hours/week
    2

  • Richard St Paul Esq

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • H Philip Salmon

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Richard Hecht

    ASSISTANT TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Neil Alexander

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Ben Frierson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Alexandra Hanson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Richard Hecht

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Natalie Hunter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Amanda Kelso

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Anderson Mitchell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Vladimer Ortega

    DIRECTOR THRU 02/24

    Total calculated
    $0
    Hours/week
    2

  • Edward Quinn

    DIRECTOR THRU 12/23

    Total calculated
    $0
    Hours/week
    2

  • Barrett Stokes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Glen Vetromile

    DIRECTOR THRU 03/24

    Total calculated
    $0
    Hours/week
    2

  • Ian Benjamin

    INTERIM PRESIDENT & CEO

    Total calculated
    $232,035
    From this org
    $223,785
    From related orgs
    $0
    Other
    $8,250
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,785
    Bonus
    $0
    Other
    $0
    Deferred
    $4,500
    Nontaxable benefits
    $3,750
    Filer's total
    $232,035

  • Kelly Almanzar

    CHIEF LENDING OFFICER

    Total calculated
    $129,473
    From this org
    $120,352
    From related orgs
    $0
    Other
    $9,121
    Hours/week
    40

  • Kathryn Conlan

    CHIEF OPERATING OFFICER

    Total calculated
    $139,100
    From this org
    $134,000
    From related orgs
    $0
    Other
    $5,100
    Hours/week
    40

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

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
6 May 2025
IRS schema version
2023v6.0
Source object
202511269349303966

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