New York Mortgage Coalition Inc
Nonprofit profile at a glance
- EIN
- 300021150
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024
- Location
- New York, NY, USA
- Phone
- 2127420762
- Rating
- 89
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Housing Search Assistance
Reported finances
- Revenue
- $1,101,562
- Expenses
- $1,091,639
- Assets
- $2,220,310
- Liabilities
- $385,795
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
19 people listed
Executive titles in this filing
- Deborah Johnson (Board President)
- Marie Pedraza (Vice President)
Highest reported compensation
- CAROLYN REBECCA SENN (Executive Dir.): $128,573 total reported compensation
- KIM ALLMAN (Interim Exe.Dir): $10,330 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The New York mortgage coalition (nymc) is a nonprofit collaboration of financial institutions and community housing agencies focused on expanding the opportunity for responsible and sustainable homeownership to minority, and low and moderate income individuals and families in five boroughs of New York, as well as the surrounding counties of nassau, suffolk, dutchess, orange, rockland, and westchester.nymc supports its neighborhood-based nonprofit members in their pre-purchase counseling, post-purchase education, and financial literacy programs. Coalition members provide the public with access to the tools to achieve the dream of homeownership including information on competitive, fixed-rate loans, closing cost grants, and down payments assistance. Nymc also supports its member agencies who play a leading role in preserving homeownership offering informational workshops and one-on-one counseling to troubled homeowners through forclosure prevention program.
What it reported doing in 2024
Housing counseling program: nymc housing counseling agencies provide housing counseling services. Clients who receive a homeownership certificate of completion must complete a minimum of 8 hours of education; 6 hours in a classroom setting and 2 hours of one-on-one counseling with a homeownership counselor. 2 out of 3 clients enrolled in nymc's one-on-one counseling program become mortgage-ready within 6 to 12 months. Since inception, nymc has provided homeownership counseling to more than 30,000 low to middle income families and helped originate over $1 billion in affordable first-home mortgages.
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 41% for direct work, and 59% for grants.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 87
- Transparency & Controls: 94
- Accountability: 95
- Sustainability: 45
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 86.7%; rating input score 87
- Program expense ratio: 86.2%; rating input score 86
- Fundraising efficiency: $136.11 raised per $1 spent on fundraising; rating input score 89; 89th percentile among comparable filings
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: 99.7%; rating input score 100; 50th percentile among comparable filings
- 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: 7 of 8 controls in place; rating input score 88
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- 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: 0.9%; rating input score 39; 39th percentile among comparable filings
- Total-asset coverage ratio: 2.03; rating input score 65; 65th percentile among comparable filings
- Liabilities to assets ratio: 0.17; rating input score 34; 34th percentile among comparable filings
- Officer compensation ratio: 12.7%; rating input score 28; 28th percentile among comparable filings
Growth
- Program expense growth: 4% per year; rating input score 100; 37th percentile among comparable filings
- Revenue growth: 0.3% per year; rating input score 100; 16th percentile among comparable filings
- Asset growth: 7.3% per year; rating input score 100; 49th percentile among comparable filings
Details
- Where the money goes: 86.7% of revenue deployed · 86.2% of spending went to programs
- Governance: 13 of 13 board members independent · 7 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $941K in reported program spending
- Leadership: top reported pay $129K · 19 people listed
- Consistency: 29 of 29 current checks pass
- Schedules: 5 filed schedules · includes major donors and grants
- Filing history: 9 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Money network: 16 filed money-flow records
- Related organizations: 14 filed related-organization links
- 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.
- Moderate — Sustainability: Operating margin scored 39/100.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- High — Sustainability: Officer compensation ratio scored 28/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 34/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.