Cnyc Inc (Council of New York Cooperatives & Condominiums)

What it reported doing in 2024

E. At its in-person annual meeting, two new board members were elected to the cnyc executive board and founder and long term president, marc j. Luxemburg was named president emeritus. F. Since 2017, membership in the national association of housing cooperatives (nahc) has been mandatory for cnyc members, giving all cnyc members full membership rights at nahc, whose advocacy function with the federal government is very important to cnyc. G. On sunday, november 17th, cnyc held its 44th annual housing conference as an all-virtual event. Cnyc offered 42 classes in three time frames plus a plenary session in the middle of the day. 69 knowledgeable volunteer speakers shared their expertise with 361 conference registrants in 45 classes and a plenary session.h. Consistent with the council's goals of enhancing member cooperatives and condominiums' ability to function efficiently, affordably and safely, and in compliance with all applicable laws, the council conducted 27 evening classes in the course of the year which, in the aggregate, were attended by more than 850 people. Again several of these focused on explaining the responsibilities of New York city housing cooperatives and condominiums larger than 25,000 square feet under New York's stringent carbon reduction legislation which starts to levy penalties for failure to meet compliance milestones in 2024 (and every five years thereafter); city council members were happy to alert their constituents to this important free sustainability webinars i. The council compiled and published its annual comparative study of building operating costs which included data gleaned from the annual financial statements of over 1000 cooperatives and condominiums, reported in eight categories, east side cooperatives in manhattan), west side cooperatives (in manhattan) , manhattan condominiums, condominiums outside of manhattan, large cooperatives outside of manhattan, small manhattan cooperatives, small brooklyn cooperatives, and loft cooperatives and condominiums. The comparative study helps members determine if their own buildings are operating efficiently and enables them to target areas where they may be able to reduce current costs. For an 8th year, consultants at decision fish prepared for the council's website an online tool to facilitate comparisons in the study. In addition to its use by cnyc members and professional affiliates, the annual comparative study is used by brokers, appraisers, journalists and economists in studying New York city's cooperatives and condominiums. J. The council's website, www.cnyc.coop completed its 29th year in october. Links to hundreds of websites of related interest and scores of "pages" of information about cooperatives and condominiums make this a popular information center. It continued to grow and flourish, providing information about the organization to browsers of the internet and answering their questions via e-mail the internet suffix dot coop continues to be effective in calling attention to cooperatives and in further 'branding' cnyc services. K. The council's director of membership and communications continued to provide information about cnyc on social media including instagram facebook and twitter. L. Cnyc continues to urge that the city's strong efforts at carbon reduction be implemented with more equitable procedures, citing for guidance the bluepoint for efficiency, prepared by the urban green council summarizing the activities of the energy task force that it had convened in 2017. This document advocates careful attention to building's density, use, etc, in the determination of progressive percentages of reduction in reliance on fossil fuels. Both the executive director and the director of membership & communications serve on various committees focused on this issue. The director of membership & communications was a panelist at the brooklyn chamber of commerce's event on sustainability. M. Through its action committee for reasonable real estate ta

Financial Efficiency

• Mission deployment rate: Limited
• Program expense ratio: Limited
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 3 of 8 controls in place; rating input score 38
  • Conflict-of-interest policy: Fail
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: -3.8%; rating input score 26; 26th percentile among comparable filings
• Total-asset coverage ratio: 0.15; rating input score 7; 7th percentile among comparable filings
• Liabilities to assets ratio: 1.93; rating input score 2; 2nd percentile among comparable filings
• Officer compensation ratio: 14.6%; rating input score 24; 24th percentile among comparable filings

Growth

• Program expense growth: Limited
• Revenue growth: -0.4% per year; rating input score 0; 13th percentile among comparable filings
• Asset growth: -5.2% per year; rating input score 0; 6th percentile among comparable filings