Neighborhood Housing Services Of New York City Inc
- Assets
- $22.0m
- Revenue
- $10.2m
- Investments
- $0.0
- Employees
- 23
- Location
- New York City, NY
- Founding
- 11/1987
- Data as of
- 12/2023
- EIN
- 13-3098397
Organization Overview
Neighborhood Housing Services Of New York City Inc is located in New York City, NY. The organization was established in 1987. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Neighborhood Housing Services Of New York City Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborhood Housing Services Of New York City Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Neighborhood Housing Services Of New York City Inc generated $10.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $9.7m during the year ending 12/2023. While expenses have increased by 2.3% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
NHS REVITALIZES UNDERSERVED NEIGHBORHOODS BY CREATING AND PRESERVING AFFORDABLE HOUSING AND PROVIDING OPPORTUNITIES FOR HOMEOWNERSHIP EDUCATION, FINANCIAL ASSISTANCE, AND COMMUNITY LEADERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LENDING: NHSNYC ENABLES NEIGHBORHOOD RESIDENTS TO ACHIEVE THEIR GOALS THROUGH A BROAD RANGE OF HOME IMPROVEMENT; EMERGENCY ASSISTANCE; DOWN PAYMENT, AND CLOSING COST ASSISTANCE; AND FLEXIBLE MORTGAGE PRODUCTS.
SPECIAL PROJECTS: RECOGNIZING THAT THE BEST WAY TO STRENGTHEN NEIGHBORHOODS FOR THE LONG-TERM IS TO ENCOURAGE RESIDENT INVOLVEMENT, NHSNYC COLLABORATES WITH OTHER COMMUNITY ORGANIZATIONS TO EXTEND NHSNYC'S CITY-WIDE REACH FOR DELIVERY OF ITS PROGRAMS AND CAPITAL.
EDUCATION/COUNSELING: NHSNYC RECOGNIZES THAT EDUCATION IS CRITICAL IN ENCOURAGING OPPORTUNITY AND HELPING NEIGHBORHOOD RESIDENTS TAKE CONTROL OF THEIR LIVES. NHSNYC OFFERS A FULL RANGE OF EDUCATIONAL SERVICES DESIGNED TO HELP RESIDENTS OVERCOME BARRIERS AND ACHIEVE FIRST-TIME HOMEOWNERSHIP; HELP EXISTING HOMEOWNERS SUCCESSFULLY MAINTAIN AND IMPROVE THEIR HOMES; AND HELP HOMEOWNERS UNDERSTAND AND RESTRUCTURE THEIR DEBT TO REDUCE THE LIKELIHOOD OF FORECLOSURE.
FACILITATED HOME ASSISTANCE: NHSNYC ADMINISTERS THE NEW YORK CITY HOUSING PRESERVATION AND DEVELOPMENT ("HPD"), HOMEFIRST DOWNPAYMENT AND CLOSING COST ASSISTANCE GRANT PROGRAM FOR FIRST TIME HOMEBUYERS. ALL PROPERTIES PURCHASED MUST BE LOCATED WITHIN THE FIVE BOROUGHS OF NEW YORK CITY. THE GRANT AMOUNT IS UP TO $100,000. IN ADDITION, NHSNYC SOMETIMES RECEIVES PRIVATE FUNDING FROM STAKEHOLDERS TO ADMINISTER A DOWNPAYMENT, AND CLOSING COST PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald E Tom Treasurer | OfficerTrustee | 1 | $0 |
Eustace Greaves Jr Lutcf Member | Trustee | 1 | $0 |
Mark D Podgainy Member | Trustee | 1 | $0 |
Scott Gold Member | Trustee | 1 | $0 |
Erik Shumar Member | Trustee | 1 | $0 |
Susan Cullen Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $107,030 |
| Related organizations | $0 |
| Government grants | $7,402,926 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,419,720 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,929,676 |
| Total Program Service Revenue | $1,202,175 |
| Investment income | $56,256 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,193,207 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $6,567,334 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $315,712 |
| Compensation of current officers, directors, key employees. | $184,895 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,308,365 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $158,585 |
| Payroll taxes | $106,492 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $46,351 |
| Fees for services: Accounting | $70,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $303,459 |
| Advertising and promotion | $0 |
| Office expenses | $46,851 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $197,792 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $361,902 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $70,710 |
| Insurance | $53,735 |
| All other expenses | $0 |
| Total functional expenses | $9,692,527 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,378,260 |
| Savings and temporary cash investments | $10,332,608 |
| Pledges and grants receivable | $50,732 |
| Accounts receivable, net | $677,833 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,237,391 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $105,042 |
| Net Land, buildings, and equipment | $70,595 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $162,329 |
| Total assets | $22,014,790 |
| Accounts payable and accrued expenses | $246,598 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $605,052 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,271,359 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,652,281 |
| Total liabilities | $15,775,290 |
| Net assets without donor restrictions | $4,287,667 |
| Net assets with donor restrictions | $1,951,833 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $22,014,790 |