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Nonprofiteer
← NEIGHBORHOOD HOUSING SERVICES OF NEW YORK CITY INC

Form 990 for tax year 2023

Filed by NEIGHBORHOOD HOUSING SERVICES OF NEW YORK CITY INC.

Totals

Total revenue
$10,193,207
Total expenses
$9,692,527
Contributions and grants received
$8,929,676
Grants paid
$6,567,334
Program service revenue
$1,202,175
Investment income
$56,256
Other revenue
$5,100
Total assets, end of year
$22,014,790
Total liabilities, end of year
$15,775,290
Net assets or fund balances, end of year
$6,239,500
Program services expenses (Part IX)
$8,817,365
Management and general expenses
$714,014
Fundraising expenses
$161,148
Program service expenses (Part III)
$8,817,365

Program services were 91.0% 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.

  • 1c · Fundraising events

    $107,030

  • 1e · Government grants (contributions)

    $7,402,926

  • 1f · All other contributions, gifts and grants

    $1,419,720

  • 2a · Program service revenue: REHAB, LENDING PROGRAM

    total $1,202,175 · related or exempt $1,202,175

  • 3 · Investment income

    total $56,256 · excluded $56,256

  • 8a · Fundraising events: gross income

    $117,306

  • 8a · Fundraising events: contributions included on line 1c

    $107,030

  • 8b · Fundraising events: direct expenses

    $117,306

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: OTHER INCOME

    total $5,100 · related or exempt $5,100

  • 11e · Other revenue, total

    $5,100

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $6,567,334 · program services $6,567,334

  • 5 · Compensation of officers, directors and key employees

    total $315,712 · program services $104,654 · management and general $184,895 · fundraising $26,163

  • 7 · Other salaries and wages

    total $1,308,365 · program services $915,976 · management and general $302,928 · fundraising $89,461

  • 9 · Other employee benefits

    total $158,585 · program services $99,661 · management and general $47,634 · fundraising $11,290

  • 10 · Payroll taxes

    total $106,492 · program services $66,923 · management and general $31,987 · fundraising $7,582

  • 11b · Fees: legal

    total $46,351 · program services $32,417 · management and general $13,534 · fundraising $400

  • 11c · Fees: accounting

    total $70,000 · program services $48,956 · management and general $20,440 · fundraising $604

  • 11g · Fees: other

    total $303,459 · program services $212,232 · management and general $88,609 · fundraising $2,618

  • 13 · Office expenses

    total $46,851 · program services $44,898 · fundraising $1,953

  • 16 · Occupancy

    total $197,792 · program services $158,233 · management and general $29,669 · fundraising $9,890

  • 20 · Interest

    total $361,902 · program services $361,902

  • 22 · Depreciation, depletion and amortization

    total $70,710 · program services $56,569 · management and general $10,605 · fundraising $3,536

  • 23 · Insurance

    total $53,735 · program services $40,301 · management and general $10,747 · fundraising $2,687

  • 24a · Other expenses: EXPENSED EQUIPMENT

    total $99,286 · program services $79,429 · management and general $14,893 · fundraising $4,964

  • 24b · Other expenses: STAFF TRAINING AND RECR

    total $43,230 · program services $27,880 · management and general $15,350 · fundraising $0

  • 24c · Other expenses: BAD DEBT RECOVERIES

    total -$57,277 · program services $0 · management and general -$57,277 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,473,250 · end of year $2,378,260

  • 2 · Savings and temporary cash investments

    beginning of year $12,645,021 · end of year $10,332,608

  • 3 · Pledges and grants receivable

    beginning of year $409,694 · end of year $50,732

  • 4 · Accounts receivable

    beginning of year $199,140 · end of year $677,833

  • 7 · Other notes and loans receivable

    beginning of year $7,905,060 · end of year $8,237,391

  • 9 · Prepaid expenses and deferred charges

    beginning of year $79,317 · end of year $105,042

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

    $2,318,733

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

    $2,248,138

  • 10c · Land, buildings and equipment, net

    beginning of year $139,434 · end of year $70,595

  • 15 · Other assets

    beginning of year $284,382 · end of year $162,329

  • 17 · Accounts payable and accrued expenses

    beginning of year $207,438 · end of year $246,598

  • 21 · Escrow or custodial account liability

    beginning of year $951,975 · end of year $605,052

  • 23 · Secured mortgages and notes payable

    beginning of year $3,334,588 · end of year $3,271,359

  • 25 · Other liabilities

    beginning of year $16,653,628 · end of year $11,652,281

  • 27 · Net assets without donor restrictions

    beginning of year $3,887,669 · end of year $4,287,667

  • 28 · Net assets with donor restrictions

    beginning of year $100,000 · end of year $1,951,833

Mission and programs · 2023

Mission

NEIGHBORHOOD HOUSING SERVICES OF NEW YORK CITY (NHSNYC), THROUGH LENDING, FINANCIAL LITERACY, AND HOUSING COUNSELING SERVICES, EMPOWERS DISADVANTAGED LOW AND MODERATE-INCOME NEW YORKERS TO PURCHASE AND PRESERVE AFFORDABLE HOUSING OPPORTUNITIES.OUR ULTIMATE GOAL IS TO SUPPORT THE REALIZATION OF THE BEST QUALITY OF LIFE POSSIBLE FOR EACH NEW YORKER, STARTING WITH A STABLE HOME.

Activities or mission (Part I)

NHS REVITALIZES UNDERSERVED NEIGHBORHOODS BY CREATING AND PRESERVING AFFORDABLE HOUSING AND PROVIDING OPPORTUNITIES FOR HOMEOWNERSHIP EDUCATION, FINANCIAL ASSISTANCE, AND COMMUNITY LEADERSHIP.

  • LENDING: NHSNYC ENABLES NEIGHBORHOOD RESIDENTS TO ACHIEVE THEIR GOALS THROUGH A BROAD RANGE OF HOME IMPROVEMENT; EMERGENCY ASSISTANCE; DOWN PAYMENT, AND CLOSING COST ASSISTANCE; AND FLEXIBLE MORTGAGE PRODUCTS.

    Expenses $1,211,378 · Grants $35,000 · Revenue $942,892

  • EDUCATION/COUNSELING: NHSNYC RECOGNIZES THAT EDUCATION IS CRITICAL IN ENCOURAGING OPPORTUNITY AND HELPING NEIGHBORHOOD RESIDENTS TAKE CONTROL OF THEIR LIVES. NHSNYC OFFERS A FULL RANGE OF EDUCATIONAL SERVICES DESIGNED TO HELP RESIDENTS OVERCOME BARRIERS AND ACHIEVE FIRST-TIME HOMEOWNERSHIP; HELP EXISTING HOMEOWNERS SUCCESSFULLY MAINTAIN AND IMPROVE THEIR HOMES; AND HELP HOMEOWNERS UNDERSTAND AND RESTRUCTURE THEIR DEBT TO REDUCE THE LIKELIHOOD OF FORECLOSURE.

    Expenses $766,478 · Revenue $259,283

  • FACILITATED HOME ASSISTANCE: NHSNYC ADMINISTERS THE NEW YORK CITY HOUSING PRESERVATION AND DEVELOPMENT ("HPD"), HOMEFIRST DOWNPAYMENT AND CLOSING COST ASSISTANCE GRANT PROGRAM FOR FIRST TIME HOMEBUYERS. ALL PROPERTIES PURCHASED MUST BE LOCATED WITHIN THE FIVE BOROUGHS OF NEW YORK CITY. THE GRANT AMOUNT IS UP TO $100,000. IN ADDITION, NHSNYC SOMETIMES RECEIVES PRIVATE FUNDING FROM STAKEHOLDERS TO ADMINISTER A DOWNPAYMENT, AND CLOSING COST PROGRAM.

    Expenses $6,728,273 · Grants $6,567,334

  • SPECIAL PROJECTS: RECOGNIZING THAT THE BEST WAY TO STRENGTHEN NEIGHBORHOODS FOR THE LONG-TERM IS TO ENCOURAGE RESIDENT INVOLVEMENT, NHSNYC COLLABORATES WITH OTHER COMMUNITY ORGANIZATIONS TO EXTEND NHSNYC'S CITY-WIDE REACH FOR DELIVERY OF ITS PROGRAMS AND CAPITAL.

    Expenses $111,236

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

Listed in Part VII

  • Donald E Tom

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Eustace Greaves Jr Lutcf

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mark D Podgainy

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Scott Gold

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Erik Shumar

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Susan Cullen

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Moses Gates

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • David Bagatelle

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Adam Dejak

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Rebecca Gilman Crimmins

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • John Abramo

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jamie Thomas

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Michael P King

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Manutosh Marthur

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Gerrald Ellis

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Derrick Griggs

    CEO

    Total calculated
    $283,843
    From this org
    $261,635
    From related orgs
    $0
    Other
    $22,208
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $261,635
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $22,208
    Filer's total
    $283,843

  • Yuejuan Weng

    CFO

    Total calculated
    $54,316
    From this org
    $54,077
    From related orgs
    $0
    Other
    $239
    Hours/week
    35

  • Marita R Bankhead

    DIRECTOR OF LENDING

    Total calculated
    $121,885
    From this org
    $121,885
    From related orgs
    $0
    Other
    $0
    Hours/week
    35

  • Nedra Campbell

    DIRECTOR OF PROGRAMS AND OPERATIONS

    Total calculated
    $105,654
    From this org
    $105,654
    From related orgs
    $0
    Other
    $0
    Hours/week
    35

  • Eileen Primo

    DIRECTOR OF HOMEOWNERSHIP

    Total calculated
    $106,269
    From this org
    $106,269
    From related orgs
    $0
    Other
    $0
    Hours/week
    35

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

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
18 July 2024
IRS schema version
2023v5.1
Source object
202402009349301805

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