2014-09-29T10:25:57-05:00 2013-12-31 113518842 MARKS PANETH LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2013-01-01 133098397 NEIGHBORHOOD HOUSING SERVICES OF NEW YORK CITY INC NEIG 2125192549 307 WEST 36TH STREET 12TH FLOOR NEW YORK NY 10018 BERNELL K GRIER CHIEF EXECUTIVE OFFICER 2125192549 2014-09-29 1 ROBERT R LYONS CPA P00227472 2125038800 2013 2015-11-30 17:44:51Z BERNELL K GRIER 307 WEST 36TH STREET 12TH FLOOR NEW YORK NY 10018 10382419 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. 23 23 99 24 0 0 7010041 7191912 1797908 2909042 3910 6465 317385 220808 9129244 10328227 2991943 3345410 0 0 4294561 4674169 0 0 312975 2105468 2094975 9391972 10114554 -262728 213673 17944371 22873217 15076978 19542151 2867393 3331066 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 4988695 3345410 2050680 THROUGH OUR WORK AS A LENDER, NHSNYC ORIGINATES FORGIVABLE LOANS THAT ENABLE FAMILIES TO ACCUMULATE THE DOWNPAYMENT NECESSARY FOR RESPONSIBLY PURCHASING THEIR FIRST HOME. IN 2013, NHSNYC SIGNIFICANTLY EXPANDED THIS WORK AFTER WE WERE SELECTED BY NEIGHBORWORKS(TM) AMERICA AS AN ADMINISTRATOR FOR THE WELLS FARGO CITYLIFT INITIATIVE. WITH $9.5 MILLION IN AWARDED FUNDS, WE PROVIDED INCOME-ELIGIBLE FAMILIES WITH $30,000 LOANS AS DOWNPAYMENT ASSISTANCE---WHICH WILL BE FORGIVEN AT AN ANNUAL RATE OF 20%,CONDITIONAL UPON USING THE 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 80% OR LESS OFF THE AREA MEDIAN INCOME WITH A FORGIVABLE LOAN OF $15,000 (OR 6% OF THEIR PROPERTY'S PURCHASE PRICE) AS DOWNPAYMENT ASSISTANCE. OUR EFFORTS DURING 2013 HELPED 371 FAMILIES ACHIEVE HOMEOWNERSHIP IN NEW YORK CITY, BY FACILITATING $91 MILLION IN AFFORDABLE AND FIXEDRATE MORTGAGE FINANCING FROM OUR NETWORK OF BANK PARTNERS. IN 2013, NHSNYC SECURED RE-CERTIFICATION AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION AND BEGAN UNDERWRITING MORTGAGES DIRECTLY FOR THE PURCHASE OF UNITS IN LIMITED-EQUITY HOUSING COOPERATIVES, WHICH ARE OFTEN SOLD TO LOW-INCOME FAMILIES FOR LESS THAN $50,000. FINALLY, LAST YEAR, WE ORIGINATED MORE THAN $1.1 MILLION IN REHABILITATION LOANS TO HELP FINANCE CRITICAL REPAIRS IN 181 HOUSING UNITS, SUCH AS FIXING A LEAKING ROOF OR REPLACING A BROKEN BOILER. 2949861 752821 THROUGH OUR EDUCATION AND COUNSELING PROGRAM, NHSNYC ENABLES NEW YORK CITY RESIDENTS TO PURSUE INFORMED CHOICES IN THEIR HOUSING OPTIONS. AFTER ASSESSING A FAMILY'S PERSONAL FINANCES, WE RECOMMEND AN AFFORDABLE MONTHLY HOUSING COST THAT DOES NOT EXCEED 36% OF THEIR TOTAL INCOME. WHEN CLIENTS ARE INTERESTED IN PURSUING HOMEOWNERSHIP, WE ENROLL THEM IN OUR EIGHT-HOUR HOME BUYER 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(TM)AMERICA. LAST YEAR, NHSNYC GRADUATED 522 CLIENTS FROM THIS PROGRAM. WE ALSO PROVIDED INDIVIDUAL COUNSELING SUPPORT TO 796 FAMILIES ABOUT RESPONSIBLY PURCHASING THEIR FIRST HOME AND 750 DISTRESSED HOMEOWNERS ABOUT AVERTING FORECLOSURE. OUR INDIVIDUAL COUNSELING SERVICES OFTEN HELP FAMILIES CREATE AREALISTIC HOUSEHOLD BUDGET THAT ALIGNS MONTHLY EXPENSES WITH AVAILABLE INCOME. TYPICALLY, OUR EFFORTS ENABLE FAMILIES TO RE-EVALUATE THE NEED FOR SPECIFIC DISCRETIONARY COSTS, SUCH AS AN EXPENSIVE CABLE PACKAGE OR FAST FOOD---COMPARED WITH ACHIEVING THEIR INFORMED CHOICE IN HOUSING. IN 2013, NHSNYC ALSO ENABLED 193 FAMILIES TO RECIEVE A MORTGAGE MODIFICATION AND THEREBY RESPONSIBLY PRESERVE HOMEOWNERSHIP. 239555 105541 NHSNYC ALSO IMPLEMENTS SPECIAL PROJECTS THAT SUCCESSFULLY ADDRESS UNIQUE NEEDS IN KEY TARGETED AREAS, BASED ON THE RECOMMENDATIONS OF COMMUNITY RESIDENTS WHO SERVE AS BOARD MEMBERS FOR OUR FIVE NEIGHBORHOOD OFFICES: NHS OF EAST FLATBUSH, NHS OF BEDFORD-STUYVESANT, NHS OF NORTHERN QUEENS, NHS OF THE NORTH BRONX AND NHS OF THE SOUTH BRONX. IN 2013, NHS OF EAST FLATBUSH RECEIVED $200,000 FROM THE BROOKLYN COMMUNITY FOUNDATION TO PROVIDE FAMILIES IMPACTED BY SUPERSTORM SANDY WITH MODEST GRANTS AS CRITICAL ASSISTANCE IN FINANCING ESSENTIAL REPAIR PROJECTS. AS ANOTHER SPECIAL PROJECT, NHS OF EAST FLATBUSH ORGANIZED A COMPREHENSIVE HOUSING FAIR ON OCTOBER 26TH AT BROOKLYN COLLEGE, WHICH WAS ATTENDED BY 200 FAMILIES. IN ADDITION, NHS OF BEDFORD-STUYVESANT CREATED A NEW YOUTH FINANCIAL LITERACY AND LEADERSHIP PROGRAM, WHICH BEGAN BY CONDUCTING A FINANCIAL LITERACY WORKSHOP ON NOVEMBER 9TH WITH NINE HIGH-SCHOOL AND MIDDLE-SCHOOL STUDENTS. OF THESE PARTICIPANTS, SEVEN CREATED A NEW SAVINGS ACCOUNT. NHS OF NORTHERN QUEENS ORGANIZED A HOUSING FAIR IN CORONA AT PUBLIC SCHOOL 19, WHICH WAS CO-SPONSORED BY COUNCILWOMAN JULISSA FERRERAS AND ATTENDED BY 60 FAMILIES WHO HAD AN OPPORTUNITY TO MEET INDIVIDUALLY WITH LAWYERS, TAX PREPARERS, INSURANCE AGENTS, CONTRACTORS AS WELL AS REPRESENTATIVES FROM CITY AND STATE AGENCIES. FINALLY, OUR TWO BRONX OFFICES ORGANIZED THREE NEIGHBORHOODTOURS OF 30 HOMES FOR SALE, WHICH WERE SPONSORED BY JPMORGAN CHASE AND ATTENDED BY 60 PROSPECTIVE HOME BUYERS. 8178111 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 13 0 99 1 0 0 0 0 0 1 1 0 0 0 0 X 23 23 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 1.00 X 0 0 0 MONICA BERRY BOARD MEMBER 1.00 X 0 0 0 EDWARD BUTTS BOARD MEMBER 1.00 X 0 0 0 DAVID FRY BOARD MEMBER 1.00 X 0 0 0 SUSANNAH GILLETTE BOARD MEMBER (FORMER) 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 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 JAYANT KAIRAM BOARD MEMBER (FORMER) 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 TOM TREASURER 1.00 X X 0 0 0 RAPHAEL CARDONE TREASURER (FORMER) 1.00 X 0 0 0 HALA FARID BOARD MEMBER 1.00 X 0 0 0 BERNELL GRIER CHIEF EXECUTIVE OFFICER 33.00 2.00 X 169891 0 7899 SUSAN IFILL CHIEF OPERATING OFFICER 33.00 2.00 X 130260 0 5096 JEFFREY SCHANBACK GENERAL COUNSEL 26.00 2.00 X 92426 0 7379 LOUIS KILKENNY DIRECTOR, LENDING & PROGRA 33.00 2.00 X 105384 0 16174 PARVEZ MUSHTAQ CONTROLLER 33.00 2.00 X 107337 0 23652 605298 0 60200 4 0 1 0 0 222426 5130563 1838923 7191912 REHAB. LENDING PROG. REV 531390 2338574 2338574 REHAB. LENDING INTEREST REV. 531390 570468 570468 2909042 6465 6465 54192 222426 54192 0 OTHER REVENUE 900099 220808 220808 220808 10328227 2909042 0 227273 3345410 3345410 412952 193618 195080 24254 3408027 2682580 608759 116688 419 316 88 15 638862 480897 134400 23565 213909 161018 45001 7890 9870 9870 53000 53000 142711 33671 49988 59052 131043 69996 42399 18648 636038 349821 254415 31802 56768 24257 32306 205 357857 357857 135321 81192 47363 6766 45418 45418 WORKSHOP EXPENSE 228653 195252 31196 2205 OTHER EXPENSE 185576 126420 42061 17095 EQUIPMENT EXPENSE 95797 62268 28739 4790 STAFF TRAINING AND REC. 16923 13538 3385 10114554 8178111 1623468 312975 1463240 1801139 4001727 4365446 506961 695673 7664638 11711112 59447 267237 4800617 2444445 2369987 2356172 1878371 1676438 17944371 22873217 594699 454651 420883 481155 3658877 3574775 10402519 15031570 15076978 19542151 X -2159561 -2056329 832099 1157540 4194855 4229855 2867393 3331066 17944371 22873217 X 213673 250000 X X 0 1 X 1 1 1 X 10170283 10343684 7938415 7010041 7191912 42654335 10170283 10343684 7938415 7010041 7191912 42654335 42654335 12933 11650 4045 3910 6465 39003 163251 615779 230171 317385 220808 1547394 44240732 0.96410 0.96700 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 90000 90000 2295359 505618 1789741 982729 623929 358800 1385806 1314898 70908 46723 46723 2356172 DUE FROM AFFILIATE 1601378 OTHER NONCURRENT ASSETS 75060 1676438 LOAN FUNDS PAYABLE 6546393 DEFERRED RENT 188172 DUE TO FUNDING SOURCES 8297005 15031570 X 10776202 447975 447975 10328227 0 10328227 10562529 447975 447975 10114554 0 10114554 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, 2013 AND 2012 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, 2010 AND PRIOR YEARS. GALA 276618 222426 54192 45526 4650 4016 0 276618 222426 54192 45526 4650 4016 54192 0 0 HOME ASSISTANCE GRANT PROGRAM 305 3345410 0 PART III COLUMN C THE ORGANIZATION MONITORS THE USE OF GRANT FUNDS BY REQUIRING DETAILED REPORTS SUBSTANTIATING AND VALIDATING THE USE OF FUNDS GRANTED, AND BY REMAINING IN CONTACT WITH GRANT RECIPIENTS DURING THE GRANT PERIOD. X X X 0 0 0 0 0 0 0 0 0 BERNELL GRIER CHIEF EXECUTIVE OFFICER 169891 0 0 0 0 0 0 0 7899 0 177790 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 AVILITY 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 XI, LINE 9: BAD DEBT - NHS STATEN ISLAND 250,000. 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 92345 DIRECT COST NHS COMMUNITY DEVELOPMENT CORP O 189575 DIRECT COST