Overview
What is New York Mortgage Coalition Inc?
The New York Mortgage Coalition Inc is a nonprofit organization, consisting of financial institutions and community housing agencies, situated in New York City. Their mission is to expand homeownership opportunities for low and moderate income individuals and families, particularly in New York City and surrounding counties. The coalition accomplishes this by supporting its neighborhood-based nonprofit members in pre-purchase counseling, post-purchase education, and financial literacy programs. They offer the public access to resources such as competitive, fixed-rate loans, closing cost grants, and down payment assistance, aiding in achieving the dream of homeownership. Through their one-on-one counseling program, around two-thirds of enrolled families become mortgage-ready within six to twelve months. Since its inception, New York Mortgage Coalition Inc has provided housing counseling services to over 30,000 families, contributing to the origination of over $1 billion in affordable first-home mortgages.
Official website here: www.nymc.org
Is New York Mortgage Coalition Inc legitimate?
New York Mortgage Coalition Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New York Mortgage Coalition Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $163,340
Professional Fundraising Fees: $0
Other Salaries and Wages: $163,678
For more financial information, click here
Official website here: www.nymc.org
What is the mission statement of New York Mortgage Coalition Inc?
The New York Mortgage Coalition (NYMC) is a nonprofit organization that collaborates with financial institutions and community housing agencies with the aim of expanding homeownership opportunities for low and moderate income individuals and families. Their mission is to support neighborhood-based nonprofit members in providing pre-purchase counseling, post-purchase education, and financial literacy programs. The coalition offers the public access to information on competitive, fixed-rate loans, closing cost grants, and down payment assistance to help achieve the dream of homeownership. Additionally, NYMC supports its member agencies that play a leading role in preserving homeownership by offering informational workshops and one-on-one counseling to troubled homeowners through foreclosure prevention programs.
Official website here: www.nymc.org
Who is the CEO of New York Mortgage Coalition Inc?
Carolyn Rebecca Senn is the Executive Dir. of New York Mortgage Coalition Inc.
Official website here: www.nymc.org
What is the revenue of New York Mortgage Coalition Inc?
New York Mortgage Coalition Inc's revenue in 2022 was $1,455,744.
Official website here: www.nymc.org
Who are the executives of New York Mortgage Coalition Inc and what are their salaries?
The average compensation at New York Mortgage Coalition Inc during 2022 was $65,404. There are 5 employees and 17 volunteers at New York Mortgage Coalition Inc.
Here are 18 key members and their salaries:
- Carolyn Rebecca Senn (Executive Dir.)
- Deborah Johnson (President) [Trustee/Director]
- Marie Pedraza (Vice President) [Trustee/Director]
- Donald Tom (Treasurer) [Trustee/Director]
- Yangchen Chadotsang (Secretary) [Trustee/Director]
- Bernadette M Mueller (Member) [Trustee/Director]
- Rev Dr Charles Butler (Member) [Trustee/Director]
- Domenico Ciaccio (Member) [Trustee/Director]
- Lynn R Ally (Member) [Trustee/Director]
- Mark Castle (Member) [Trustee/Director]
- Michael Esposito (Member) [Trustee/Director]
- Peter Elkowitz (Secretary) [Trustee/Director]
- Martha Abrams (Member) [Trustee/Director]
- Patricia Strong (Member) [Trustee/Director]
- Elaine Dovas (Member) [Trustee/Director]
- Dwayne Wright (Member) [Trustee/Director]
- Nia Rock (Member) [Trustee/Director]
- Mariely Moronta- Sanchez (Member) [Trustee/Director]
Official website here: www.nymc.org
Where can I find the form 990 for New York Mortgage Coalition Inc?
The New York Mortgage Coalition Inc’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.nymc.org
Learn more at the official website: www.nymc.org
Mission Statement of New York Mortgage Coalition Inc
The New York Mortgage Coalition (NYMC) is a nonprofit organization that brings together financial institutions and community housing agencies with a shared mission. This mission is to expand the opportunity for responsible and sustainable homeownership for minority and low-income individuals and families in various areas of New York, as well as in surrounding counties.
NYMC supports its neighborhood-based nonprofit members in their pre-purchase counseling, post-purchase education, and financial literacy programs. By doing so, the coalition provides the public with access to resources that can help them achieve the dream of homeownership. This includes information on competitive, fixed-rate loans, closing cost grants, and down payment assistance.
In addition to supporting its member agencies, NYMC also plays a significant role in preserving homeownership. It offers informational workshops and one-on-one counseling to troubled homeowners through foreclosure prevention programs. By providing these services, NYMC aims to help individuals and families keep their homes and maintain stability in their lives.
Impact
This information is meant to be a general summary of New York Mortgage Coalition Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
New York Mortgage Coalition Inc's impact is significant in expanding homeownership opportunities for low and moderate-income individuals and families. Through its housing counseling program, NYMC provides crucial services to help clients achieve the dream of homeownership. The program includes education, counseling, and guidance on obtaining affordable first-home mortgages.
Since its inception, NYMC has assisted over 30,000 low to middle-income families with homeownership counseling and facilitated the origination of over $1 billion in affordable mortgages. Their one-on-one counseling program has a high success rate, with two out of three clients becoming mortgage-ready within 6 to 12 months of enrollment.
By collaborating with financial institutions and community housing agencies, NYMC works to provide access to responsible and sustainable homeownership opportunities for minority and low to moderate-income individuals in New York City and surrounding counties. They support neighborhood-based agencies in pre-purchase counseling, post-purchase education, financial literacy programs, and foreclosure prevention efforts.
Through these initiatives, NYMC plays a crucial role in empowering individuals and families to achieve homeownership, ultimately contributing to the economic stability and well-being of communities.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ADMINISTRATIVE FEE REV
Revenue
$8,700
PROGRAM INCOME
Revenue
$10,286
Organization Details
Founding Year
2001
Phone
(212) 742-0762
Principal Officer
Carolyn Rebecca Senn
Main Address
14 WALL STREET 20TH FL, NEW YORK, NY, 10005
Website
www.nymc.org
NTEE Category
Code: L30 - Housing
If you are a representative of New York Mortgage Coalition Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.