Mortgage Bankers Association of New York Inc

Nonprofit profile at a glance

EIN
521225868
IRS 990 coverage
2013–2020
Forms available
Form 990 2020
Location
New York, NY, USA
Phone
2124507300
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$47,237
Expenses
$70,182
Assets
$90,236
Liabilities
$2,269

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • JONATHAN STERN (PRESIDENT)
  • ZAHRA JAFRI (VICE PRESIDENT)
  • GREGORY NUBER (PAST PRESIDENT)

People named in this filing

  • KITTY YEN (SECRETARY)
  • JONATHAN STERN (PRESIDENT)
  • ZAHRA JAFRI (VICE PRESIDENT)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Trade association for mortgage bankers

What it reported doing in 2020

A trade association for financial institutional service providers to enhance financing commerical real estate in the New York metro area.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 64% for direct work, and 36% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 93
  • Accountability: 30
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 71.1%; rating input score 71
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 8th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -48.6%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 1.29; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: 4.7% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: 3.8% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 8.7% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 71.1% of spending went to programs
  • Governance: 0 of 20 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $50K in reported program spending
  • Leadership: top reported pay $0 · 14 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 8 filing years from 2013 to 2020
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Independent voting board scored 0/100.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.