NYC NEIGHBORHOOD CAPITAL CORPORATION

EIN: 471562167 501(c)(3) Community Improvement

NEW YORK, NY

Total Revenue
$1,650,807
Total Expenses
$432,009
Total Assets
$6,313,365
Net Assets
$6,140,615
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2014
Legal Domicile
NY
Principal Officer
SPENCER HOBSON
Phone
2123123503
Tax Period
2022-07-01 to 2023-06-30

NYC NEIGHBORHOOD CAPITAL CORPORATION, founded in 2014, is a community nonprofit in the Community Improvement sector that reported $1.7M in total revenue in fiscal year 2022. Revenue fell 21% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $1.2M, a strong 74% operating margin.

Mission

THE PRIMARY MISSION OF THE CORPORATION IS TO CARRY OUT CHARITABLE OPERATIONS OF THE CITY OF NEW YORK. MORE SPECIFICALLY, THE CORPORATION IS ORGANIZED TO OPERATE AS A QUALIFIED COMMUNITY DEVELOPMENT ENTITY ("CDE") UNDER THE FEDERAL NEW MARKETS TAX CREDIT ("NMTC") PROGRAM, TO FORM AND MANAGE SUBSIDIARY LIMITED LIABILITY COMPANIES (WHICH ARE ALSO CERTIFIED AS CDES) TO RECEIVE EQUITY CONTRIBUTIONS THAT WILL BE UTILIZED PRIMARILY TO MAKE QUALIFIED LOW-INCOME COMMUNITY INVESTMENTS IN THE CORPORATION'S "SERVICE AREA" OF THE CITY OF NEW YORK, AND TO ENGAGE IN ACTIVITIES THAT WOULD FURTHER THE INTERESTS OF THE CITY OF NEW YORK.

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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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,523,095
Investment Income $127,712
Other Revenue $0
TOTAL REVENUE $1,650,807

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $412,500
Other Expenses $432,009
TOTAL EXPENSES $432,009

Year-over-Year Comparison

2022 2021 Change
Revenue $1,650,807 $2,099,426 -0.2%
Expenses $432,009 $811,863 -0.5%
Net Income $1,218,798 $1,287,563 -0.1%
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

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Governance

Voting Members
9
Independent Members
N/A
Employees
N/A
Volunteers
N/A

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
10
$1,514,249
Total Directors
11
$1,927,994
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
AMY CHAN ASSISTANT TREASURER 1.00
Officer
$0 $18,323 $200,167
BRINDA GANGULY EXECUTIVE DIRECTOR 1.00
Officer
$0 $0 $47,538
CHRISTINA RAUSCH SENIOR VICE PRESIDENT 1.00
Director
$0 $19,718 $169,026
ELIZABETH VEROSTEK EXECUTIVE VICE PRESIDENT 1.00
Director
$0 $33,268 $241,216
EMILY MARCUS DEPUTY EXECUTIVE DIRECTOR 1.00
Officer
$0 $14,616 $130,808
ERICH BILAL VICE PRESIDENT 1.00
Director
$0 $15,351 $127,005
FRED D'ASCOLI CHIEF FINANCIAL OFFICER 1.00
Officer
$0 $30,251 $248,328
GBENGA DAWODU SENIOR VICE PRESIDENT 1.00
Director
$0 $22,341 $181,917
JENNIFER MONTALVO VICE PRESIDENT 1.00
Director
$0 $22,849 $219,541
JULIEANNE HERSKOWITZ VICE PRESIDENT 1.00
Director
$0 $22,703 $164,619
LESLIE ESCOBAR ASSISTANT TREASURER 1.00
Officer
$0 $7,339 $150,877
MARIA TORRES-SPRINGER DEPUTY MAYOR 1.00
Director
$0 $0 $251,982
MAXWELL PADDEN SENIOR VICE PRESIDENT 1.00
Director
$0 $12,498 $102,575
MCCOSH THAYER EXECUTIVE DIRECTOR 20.00
Officer
$0 $3,257 $26,522
MELANIE MCMANN SENIOR VICE PRESIDENT 1.00
Director
$0 $22,176 $171,098
MELISSA ROMAN BURCH CHAIRPERSON 1.00
Officer
$0 $0 $138,615
MEREDITH JONES GENERAL COUNSEL/SECRETARY 1.00
Officer
$0 $38,160 $250,285
PRIYA ANANTHANATHAN VICE PRESIDENT 1.00
Director
$0 $15,303 $125,111
RACHEL LOEB CHAIRPERSON 1.00
Officer
$0 $4,691 $79,662
SABRINA LIPPMAN SENIOR VICE PRESIDENT 1.00
Director
$0 $12,931 $173,904
SPENCER HOBSON TREASURER 1.00
Officer
$0 $36,831 $241,447
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
2025 No data No data No data No data
2024 No data No data No data No data
2023 $1,650,807 $432,009 $6,313,365 $1,218,798
2022 $2,099,426 $811,863 $4,961,294 $1,287,563
2021 $2,461,550 $1,153,780 $3,682,776 $1,307,770
2020 $1,179,675 $477,393 $2,348,438 $702,282
2019 $644,686 $279,675 $1,669,327 $365,011
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