Community Capital New York Inc

Nonprofit profile at a glance

EIN
133544227
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Elmsford, NY, USA
Phone
9147478020
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Expense Reduction Support

Official website

Reported finances

Revenue
$1,848,534
Expenses
$2,479,916
Assets
$14,595,327
Liabilities
$7,531,333

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

18 people listed

Executive titles in this filing

  • IAN BENJAMIN (INTERIM PRESIDENT & CEO)
  • ROBERT BENITEZ (PRESIDENT AND CEO FROM 01/2025)

Highest reported compensation

  • IAN BENJAMIN (INTERIM PRESIDENT & CEO): $233,273 total reported compensation
  • KELLY ALMANZAR (CHIEF LENDING OFFICER): $172,517 total reported compensation
  • KATHRYN CONLAN (CHIEF OPERATING OFFICER): $144,250 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

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 36 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.

What it reported doing in 2024

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.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 84
  • Accountability: 95
  • Sustainability: 31
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 79.3%; rating input score 79
  • Fundraising efficiency: $5.26 raised per $1 spent on fundraising; rating input score 19; 19th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -34.2%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 5.89; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.52; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 22.2%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 11.3% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 9.7% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: 10.9% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 79.3% of spending went to programs
  • Governance: 11 of 11 board members independent · 8 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $2M in reported program spending
  • Leadership: top reported pay $233K · 18 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $123K reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 19/100.
  • High — Sustainability: Operating margin scored 5/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.