2015-08-11T14:03:53-05:00 2014-12-31 113518842 MARKS PANETH LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2014-01-01 133098397 NEIGHBORHOOD HOUSING SERVICES OF NEW YORK CITY INC NEIG 2125192549 307 WEST 36TH STREET 12TH FLOOR NEW YORK NY 10018 SUSAN M IFILL COO/CFO 2125192549 2015-08-11 1 ROBERT R LYONS CPA P00227472 2125038800 2014 2016-02-25 16:41:14Z BERNELL K GRIER 307 WEST 36TH STREET 12TH FLOOR NEW YORK NY 10018 8553932 0 X WWW.NHSNYC.ORG X 1982 NY NHS REVITALIZES UNDERSERVED NEIGHBORHOODS BY CREATING AND PRESERVING AFFORDABLE HOUSING AND PROVIDING OPPORTUNITIES FOR HOMEOWNERSHIP EDUCATION, FINANCIAL ASSISTANCE AND COMMUNITY LEADERSHIP. WORKING IN PARTNERSHIP WITH GOVERNMENT AND BUSINESS, WE ARE LED BY LOCAL RESIDENTS AND GUIDED BY LOCAL NEEDS. 27 27 76 70 0 0 7191912 6490443 2909042 1796202 6465 2574 220808 208394 10328227 8497613 3345410 2789303 0 0 4674169 3954546 0 0 262536 2094975 1909247 10114554 8653096 213673 -155483 22873217 24742207 19542151 21566624 3331066 3175583 X NEIGHBORHOOD HOUSING SERVICES OF NEW YORK CITY, INC. (NHSNYC) REVITALIZES UNDERSERVED COMMUNITIES BY CREATING AND PRESERVING AFFORDABLE HOUSING AND PROVIDING OPPORTUNITIES FOR HOMEOWNERSHIP EDUCATION, FINANCIAL ASSISTANCE AND COMMUNITY LEADERSHIP. WE OPERATE THROUGH A NETWORK OF COMMUNITY-BASED ORGANIZATIONS, LED BY LOCAL RESIDENTS IN PARTNERNSHIP WITH GOVERNMENT AND BUSINESS: NHS OF EAST FLATBUSH, NHS OF BEDFORD-STUYVESANT, NHS OF NORTHERN QUEENS, NHS OF THE NORTH BRONX AND NHS OF THE SOUTH BRONX. 0 0 4477771 2789303 1076416 NEIGHBORHOOD HOUSING SERVICES OF NEW YORK CITY, INC. (NHSNYC) IS A NETWORK OF NEIGHBORHOOD OFFICES, HOUSING DEVELOPMENT CORPORATIONS AND A CENTRAL OFFICE THAT ADMINISTERS OUR WORK AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI). OUR LENDING PLATFORM ENABLES NHSNYC TO ORIGINATE LOANS AND GRANTS FOR THE ACQUISITION OR PRESERVATION OF 1-TO-4 FAMILY PROPERTIES THROUGHOUT NEW YORK CITY, INCLUDING HOUSES AS WELL AS UNITS IN COOPERATIVE AND CONDOMINIUM DEVELOPMENTS. NHSNYC ALSO HAS THE ABILITY TO PROVIDE RENOVATION AND REPAIR LOANS FOR SMALL BUILDINGS, WITH BETWEEN ONE-TO-TWENTY HOUSING UNITS. IN 2013, NHSNYC WAS SELECTED BY NEIGHBORWORKS AND WELLS FARGO TO BE THE ADMINISTRATOR FOR THE WELLS FARGO CITYLIFT INITIATIVE FOR NEW YORK AND NEW JERSEY. $9.5 MILLION IN AWARDED FUNDS WERE PASSED THROUGH TO INCOME-ELIGIBLE FAMILIES WHO PURCHASED HOMES IN BROOKLYN AND THE BRONX WITH A $30,000 LOAN AS DOWN PAYMENT ASSISTANCE, WHICH WILL BE FORGIVEN AFTER FIVE YEARS OF USING THIS PROPERTY AS THEIR PRIMARY RESIDENCE. SINCE 2004, WE HAVE ALSO ADMINISTERED THE NEW YORK CITY DEPARTMENT OF HOUSING PRESERVATION AND DEVELOPMENT'S HOMEFIRST PROGRAM, WHICH PROVIDES FIRST-TIME HOME BUYERS EARNING WITHIN 80% OF THE AREA MEDIAN INCOME WITH A FORGIVABLE LOAN OF UP TO $15,000-OR 6% OF THEIR PROPERTY'S PURCHASE PRICE-FOR DOWN PAYMENT ASSISTANCE. 2404248 669540 NHSNYC CURRENTLY STAFFS TEN OFFICES THROUGHOUT NEW YORK CITY, IN EAST FLATBUSH, CANARSIE, BEDFORD-STUYVESANT, SHEEPSHEAD BAY, BRIGHTON BEACH, NORTHERN QUEENS, THE NORTH BRONX AND THE SOUTH BRONX AS WELL AS MID-TOWN MANHATTAN AND DISTRICT COUNCIL 37, THE LARGEST MUNICIPAL EMPLOYEES UNION IN NEW YORK CITY WITH 121,000 MEMBERS. IN EACH LOCATION, NHSNYC PROVIDES EDUCATION AND COUNSELING SERVICES THAT ENABLE OUR CLIENTS TO ACHIEVE THEIR INFORMED CHOICE IN HOME. SPECIFICALLY, WE TEACH FAMILIES HOW TO ASSESS AND MAINTAIN THEIR PERSONAL FINANCES, INCLUDING IDENTIFYING AN AFFORDABLE MONTHLY HOUSING COST THAT DOES EXCEED 36% OF TOTAL INCOME. WHEN CLIENTS ARE INTERESTED IN PURSUING HOMEOWNERSHIP, WE ENROLL THEM IN OUR EIGHT-HOUR HOME BUYERS EDUCATION CLASS, WHICH TEACHES PARTICIPANTS ABOUT CREDIT, EFFECTIVE MONEY MANAGEMENT TECHNIQUES AS WELL AS THE MORTGAGE APPLICATION AND HOME BUYING PROCESS-USING A CURRICULUM DEVELOPED BY NEIGHBORWORKS AMERICA (NW), ENTITLED "REALIZING THE AMERICAN DREAM". NHSNYC ALSO ASSISTS CLIENTS IN COMPLETING AN ONLINE VERSION OF NW'S CURRICULUM, CALLED E-HOME. 189425 50246 SPECIAL PROJECTS - FIRST MORTGAGE ORIGINATION: IN 2014, NHSNYC BEGAN OFFERING FIRST MORTGAGES TO PURCHASE OR REFINANCE ONE-TO-FOUR FAMILY HOMES IN NEW YORK CITY. NOTABLY, WE SECURED A $1 MILLION REVOLVING CREDIT FACILITY FROM ONE KEY BANK PARTNER TO ORIGINATE FIRST MORTGAGES IN BROOKLYN AND MANHATTAN-PRIMARILY FOR FAMILIES WHO EARN 80% OR LESS THAN THE AREA MEDIAN INCOME (AMI) AND HAVE A MINIMUM FICO SCORE OF 640. FOR CLIENTS PURCHASING HOMES IN A LOW-OR-MODERATE-INCOME CENSUS TRACT, WE HAVE THE ABILITY TO ORIGINATE MORTGAGES FOR FAMILIES EARNING 165% OR LESS THAN AMI. NHSNYC WILL SELL BOTH TYPES OF MORTGAGES BACK TO OUR BANK PARTNER FOR A MODEST PREMIUM, WHICH WILL HELP INCREASE OUR EARNED-INCOME AS WELL AS HELP DEFRAY THE COST OF OUR HOMEOWNERSHIP EDUCATION AND COUNSELING SERVICES. THROUGH THIS WORK, WE WILL EXPAND THE AVAILABILITY OF AFFORDABLE AND FIXED-RATE MORTGAGE FINANCING-ESPECIALLY FOR LOW-TO-MODERATE-INCOME CLIENTS IN COMMUNITIES OF COLOR-THEREBY ENABLING MORE FAMILIES TO SUSTAINABLY ACHIEVE THE AMERICAN DREAM OF HOMEOWNERSHIP. RESILIENCY PROGRAM. IN THE PAST, NHSNYC HAS PROVIDED NEW YORK CITY RESIDENTS WITH INDIVIDUAL COUNSELING SUPPORT ABOUT THEIR PROPERTY INSURANCE COVERAGE. IN RESPONSE TO SUPERSTORM SANDY AND THE PROJECTED FREQUENCY OF SIMILAR DISASTERS, WE RECENTLY EXPANDED THIS WORK INTO A FORMAL RESILIENCY PROGRAM. IN 2014, THESE EFFORTS WERE ADMINISTERED BY NEIGHBORHOOD HOUSING SERVICES OF EAST FLATBUSH, INC. AND SERVED 172 FAMILIES LIVING ALONG BROOKLYN'S SOUTHEAST SHORELINE-PARTICULARLY THE COMMUNITIES OF CANARSIE AND SHEEPSHEAD BAY. WE ALSO CONDUCTED TRAIN-THE-TRAINER WORKSHOPS ABOUT FLOOD INSURANCE ISSUES FOR 157 DISASTER CASE MANAGERS AND FOR THIS ACCOMPLISHMENT AS WELL AS OTHER SUCCESSES, THE DIRECTOR OF OUR PROGRAM RECEIVED ONE OF 14 TENACITY AWARDS GIVEN BY THE NEW YORK DISASTER INTERFAITH SERVICES IN JANUARY 2015. 7071444 1 1 0 0 0 0 0 0 1 0 1 0 0 1 1 1 1 1 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 9 0 76 1 0 0 0 0 0 1 1 0 0 0 0 X 27 27 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 NY X PARVEZ MUSHTAQ 2125192549 307 WEST 36TH STREET 12 FLOOR NEW YORK NY 10018 ERIK SHUMAR PRESIDENT 1.00 X X 0 0 0 RUNIE MENSCHE VICE PRESIDENT 1.00 X X 0 0 0 JEFFREY CHARLES-PIERRE SECRETARY 1.00 X X 0 0 0 JACQUELINE ALEXANDER BOARD MEMBER 1.00 X 0 0 0 HELEN ARTEAGA BOARD MEMBER (FORMER) 1.00 X 0 0 0 MONICA BERRY BOARD MEMBER 1.00 X 0 0 0 EDWARD BUTTS BOARD MEMBER (FORMER) 1.00 X 0 0 0 DAVID FRY BOARD MEMBER 1.00 X 0 0 0 SHANIQUA CARTER BOARD MEMBER 1.00 X 0 0 0 SCOTT GOLD BOARD MEMBER 1.00 X 0 0 0 ROBERT HALL BOARD MEMBER 1.00 X 0 0 0 PAUL HAWTHORNE BOARD MEMBER 1.00 X 0 0 0 DEBORAH JOHNSON BOARD MEMBER 1.00 X 0 0 0 MATTHEW LEBER BOARD MEMBER 1.00 X 0 0 0 JESSICA LEONARD BOARD MEMBER 1.00 X 0 0 0 LOIS LOCKE BOARD MEMBER 1.00 X 0 0 0 SUSAN MENDOZA BOARD MEMBER 1.00 X 0 0 0 JACQUELINE O'GARROW BOARD MEMBER (FORMER) 1.00 X 0 0 0 ALBERT PAYNE BOARD MEMBER 1.00 X 0 0 0 RAYMOND RIVERA BOARD MEMBER 1.00 X 0 0 0 DAHLIA GUTIERREZ BOARD MEMBER 1.00 X 0 0 0 MARK D PODGAINY BOARD MEMBER 1.00 X 0 0 0 CHERMAINE HU BOARD MEMBER 1.00 X 0 0 0 DONALD E TOM TREASURER 1.00 X X 0 0 0 ZENOBIA MCNALLY BOARD MEMBER 1.00 X 0 0 0 HALA FARID BOARD MEMBER (FORMER) 1.00 X 0 0 0 PHILIPE Y PAULINO BOARD MEMBER 1.00 X 0 0 0 LISA TALMA BOARD MEMBER 1.00 X 0 0 0 SHANEL THOMAS BOARD MEMBER 1.00 X 0 0 0 ROBERT TYRRELL BOARD MEMBER 1.00 X 0 0 0 RYAN WALSH BOARD MEMBER 1.00 X 0 0 0 BERNELL K GRIER CHIEF EXECUTIVE OFFICER 33.00 2.00 X 151716 0 8035 SUSAN IFILL CHIEF OPERATING OFFICER 33.00 2.00 X 117635 0 16910 JEFFREY SCHANBACK GENERAL COUNSEL 26.00 2.00 X 86825 0 2802 BYRON TODMAN DIR. OF HOUSING DEVELOPMENT. 33.00 2.00 X 77013 0 7598 LOUIS KILKENNY DIRECTOR, LENDING & PROGRA 33.00 2.00 X 93885 0 16904 PARVEZ MUSHTAQ CONTROLLER 33.00 2.00 X 95895 0 24354 622969 0 76603 2 0 1 0 0 222927 4531834 1735682 6490443 REHAB. LENDING PROG. R 531390 1254172 1254172 REHAB. LENDING INTERES 531390 542030 542030 1796202 2574 2574 56319 222927 56319 0 OTHER REVENUE 900099 208394 208394 208394 8497613 1796202 0 210968 2789303 2789303 468541 370965 75877 21699 2730774 2162078 442230 126466 1250 990 202 58 503980 399024 81616 23340 250001 197937 40486 11578 25144 25144 59000 59000 127605 31532 94237 1836 105812 48290 34231 23291 693141 381228 277256 34657 38800 6413 32126 261 333656 333656 139360 83616 48776 6968 50108 50108 OTHER EXPENSE 164686 140537 17668 6481 EQUIPMENT EXPENSE 118014 76709 35404 5901 WORKSHOP EXPENSE 30144 30144 STAFF TRAINING AND REC. 23777 19022 4755 8653096 7071444 1319116 262536 1801139 1303603 4365446 3555965 695673 640840 11711112 15361505 267237 118974 4834912 2583806 2356172 2251106 1676438 1510214 22873217 24742207 454651 536169 481155 429476 3574775 3633503 15031570 16967476 19542151 21566624 X -2056329 -2306607 1157540 1292335 4229855 4189855 3331066 3175583 22873217 24742207 -155483 0 X X 0 1 X 1 1 1 X 10343684 7938415 7010041 7191912 6490443 38974495 10343684 7938415 7010041 7191912 6490443 38974495 38974495 11650 4045 3910 6465 2574 28644 615779 230171 317385 220808 208394 1592537 40595676 0.96010 0.96410 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 90000 90000 2301559 563067 1738492 984229 678301 305928 1432529 1342438 90091 26595 26595 2251106 DUE FROM AFFILIATE 1438984 OTHER NONCURRENT ASSETS 71230 1510214 LOAN FUNDS PAYABLE 5335024 DEFERRED RENT 151533 DUE TO FUNDING SOURCES 11480919 16967476 X 8945588 447975 447975 8497613 0 8497613 9101071 447975 447975 8653096 0 8653096 PART IV, LINE 2B: NHS MAINTAINS AMOUNTS IN ESCROW AS PART OF ITS LOAN FUND PROGRAM. SUCH FUNDS ARE USED TO FUND CERTAIN LOANS AND FORGIVABLE LOANS [GRANTS], PAY BORROWER'S PROPERTY TAXES, HOMEOWNER INSURANCE, ETC. PART V, LINE 4: NHS MAINTAINS AMOUNTS IN ESCROW AS PART OF ITS LOAN FUND PROGRAM. SUCH FUNDS ARE USED TO FUND CERTAIN LOANS AND FORGIVABLE LOANS [GRANTS], PAY BORROWER'S PROPERTY TAXES, HOMEOWNER INSURANCE, ETC. PART X, LINE 2: THE AGENCY HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2014 AND 2013 IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, "INCOME TAXES," WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. THE AGENCY IS NO LONGER SUBJECT TO FEDERAL OR STATE AND LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR THE YEAR ENDED DECEMBER 31, 2011 AND PRIOR YEARS. GALA 279246 222927 56319 56319 0 279246 222927 56319 56319 56319 0 0 HOME ASSISTANCE GRANT PROGRAM 220 2789303 X X X 0 0 0 0 0 0 0 0 0 BERNELL K GRIER CHIEF EXECUTIVE OFFICER 151716 0 0 0 0 0 0 0 8035 0 159751 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 NHS MEMBERS ARE MADE OF NUMBER OF NEIGHBORHOODS. FORM 990, PART VI, SECTION A, LINE 7A THE NEIGHBORHOODS HAVE THE ABILITY TO ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS BY THE GOVERNING BODY ARE SUBJECT TO APPROVAL OF THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS HAS BEEN DESIGNATED TO REVIEW THE TAX RETURN ON BEHALF OF THE BOARD AND DISTRIBUTE IT TO ALL BOARD MEMBERS FOR REVIEW PRIOR TO FILING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS, OFFICERS AND EMPLOYEES ARE REQUIRED ANNUALLY TO SIGN A STATEMENT DISCLOSING ANY CONFLICTS OF INTEREST. THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THIS POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE HUMAN RESOURCES DEPARTMENT COMPARES SALARIES OF SIMILAR POSITIONS WITH OTHER ORGANIZATIONS OF SIMILAR SIZE, BUSINESS AND BUDGET TO DETERMINE THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES. A MARKET SURVEY IS ALSO PERFORMED EVERY 3 YEARS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS AND 990 AVAILABLE ON ITS WEBSITE. THE CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE MADE AVAILABLE AT THE CENTRAL SERVICES OFFICES AND ALL OTHER OFFICES DURING REGULAR BUSINESS HOURS AND IS ALSO IN THE STAFF MANUAL. FORM 990, PART XII, LINE 2C THE PROCESS OF OVERSEEING THE AUDIT DID NOT CHANGE FROM PRIOR YEAR. NHS HOUSING DEVELOPMENT FUND CORPORATION 307 WEST 36TH STREET NEW YORK NY 10018 133739464 CREATING AND PRESERVING AFFORDABLE HOUSING NY 501C(3) LINE 7 0 NHS CITYWIDE HOUSING DEVELOPMENT FUND CORPORATION 307 WEST 36TH STREET NEW YORK NY 10018 263504381 CREATING AND PRESERVING AFFORDABLE HOUSING NY 501C(3) LINE 7 0 NHS MORTGAGE CORPORATION 307 WEST 36TH STREET NEW YORK NY 10018 260619553 CREATING AND PRESERVING AFFORDABLE HOUSING NY 501C(3) LINE 7 0 NHS COMMUNITY DEVELOPMENT CORP 307 WEST 36TH STREET NEW YORK NY 10018 133914167 CREATING AND PRESERVING AFFORDABLE HOUSING NY 501C(3) LINE 7 0 NEIGHBORHOOD HOUSING SERVICES OF NORTHERN QUEENS INC 60-20 WOODSIDE AVEN 2ND FLR WOODSIDE NY 11377 800615257 CREATING AND PRESERVING AFFORDABLE HOUSING NY NEIGHBORHOOD HOUSING SVCS OF NYC C 1.00000 0 NEIGHBORHOOD HOUSING SERVICES OF SOUTH BRONX INC 200 E 161 STREET BRONX NY 10451 364699979 CREATING AND PRESERVING AFFORDABLE HOUSING NY NEIGHBORHOOD HOUSING SVCS OF NYC C 1.00000 0 NEIGHBORHOOD HOUSING SERVICES BEDFORD-STUYVESANT INC 1012 GATES AVENUE BROOKLYN NY 11221 800615267 CREATING AND PRESERVING AFFORDABLE HOUSING NY NEIGHBORHOOD HOUSING SVCS OF NYC C 1.00000 0 NEIGHBORHOOD HOUSING SERVICES OF NORTH BRONX INC 1451 E GUN HILL RD 2ND FLR BRONX NY 10469 800615273 CREATING AND PRESERVING AFFORDABLE HOUSING NY NEIGHBORHOOD HOUSING SVCS OF NYC C 1.00000 0 NEIGHBORHOOD HOUSING SERVICES OF EAST FLATBUSH INC 2806 CHURCH AVENUE BROOKLYN NY 11226 800615264 CREATING AND PRESERVING AFFORDABLE HOUSING NY NEIGHBORHOOD HOUSING SVCS NYC C 1.00000 0 0 0 0 1 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 NHS COMMUNITY DEVELOPMENT CORP N 176849 DIRECT COST O