NEW YORK MORTGAGE COALITION INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2001

Legal Domicile

Principal Officer

Deborah Johnson

Phone

2127420762

Tax Period

2023-01-01 to 2023-12-31

NEW YORK MORTGAGE COALITION INC, founded in 2001, is a community nonprofit in the Housing & Shelter sector that reported $1.6M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion.

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.

Program Service Accomplishments

Program 1

Expenses: $1,502,162 Revenue: $7,770

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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,511,083

Program Service Revenue $7,770

Investment Income $68,835

Other Revenue $-6,655

TOTAL REVENUE $1,581,033

Expense Breakdown

Grants Paid $1,069,557

Salaries & Benefits $375,139

Fundraising Expenses $10,087

Program Expenses $1,502,162

Other Expenses $184,939

TOTAL EXPENSES $1,629,635

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,581,033	$1,455,744	+0.1%
Expenses	$1,629,635	$1,476,349	+0.1%
Net Income	$-48,602	$-20,605	+1.4%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$166,836

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CAROLYN REBECCA SENN	Executive Dir.	40.00	Officer	$154,153	$12,683	$166,836
Deborah Johnson	President	2.00	Officer Director	$0	$0	$0
Marie Pedraza	Vice President	2.00	Officer Director	$0	$0	$0
Donald Tom	Treasurer	2.00	Officer Director	$0	$0	$0
Yangchen Chadotsang	Secretary	2.00	Officer Director	$0	$0	$0
Bernadette M Mueller	Member	1.00	Director	$0	$0	$0
Rev Dr Charles Butler	Member	1.00	Director	$0	$0	$0
Domenico Ciaccio	Member	1.00	Director	$0	$0	$0
Lynn R Ally	Member	1.00	Director	$0	$0	$0
Mark Castle	Member	1.00	Director	$0	$0	$0
Michael Esposito	Member	1.00	Director	$0	$0	$0
Peter Elkowitz	Member	1.00	Director	$0	$0	$0
Martha Abrams	Member	1.00	Director	$0	$0	$0
Reinaldo Perez	Member	1.00	Director	$0	$0	$0
Patricia Strong	Member	1.00	Director	$0	$0	$0
Elaine Dovas	Member	1.00	Director	$0	$0	$0
Dwayne Wright	Member	1.00	Director	$0	$0	$0
Mina Minelli	Member	1.00	Director	$0	$0	$0
Nia Rock	Member	1.00	Director	$0	$0	$0
Mariely Moronta- Sanchez	Member	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$1,581,033	$1,629,635	$2,695,946	$-48,602
2023	$1,375,096	$1,423,698	$2,710,952	$-48,602
2022	$1,655,826	$1,719,692	$3,107,511	$-63,866
2022	$1,455,744	$1,476,349	$3,107,511	$-20,605
2021	$1,089,367	$1,191,608	$2,919,874	$-102,241
2020	$979,679	$1,014,993	$2,530,347	$-35,314
2019	$872,846	$1,135,221	$2,480,663	$-262,375
2019	$872,846	$1,135,221	$2,480,663	$-262,375
2018	$2,814,283	$1,088,396	$2,768,399	$1,725,887