The Center For New York City
- Assets
- $125.2m
- Revenue
- $23.5m
- Investments
- $0.0
- Employees
- 96
- Location
- New York, NY
- Founding
- 09/2008
- Data as of
- 12/2021
- EIN
- 83-0506416
Organization Overview
The Center For New York City is located in New York, NY. The organization was established in 2008. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Center For New York City employed 96 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Center For New York City 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 12/2021, Center For New York City generated $23.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $19.3m during the year ending 12/2021. While expenses have increased by 10.0% per year over the past 7 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.
Since 2014, Center For New York City has awarded 306 individual grants totaling $39,945,399. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LENDING & CAPITAL: THE CENTER'S WHOLLY-OWNED CDFI SUBSIDIARY, SUSTAINABLE NEIGHBORHOODS LLC, CONDUCTS DIRECT LENDING AND PROVIDES FINANCIAL ASSISTANCE TO LMI FAMILIES AND FAMILIES OF COLOR, DEMONSTRATING MODELS FOR MORTGAGE ORIGINATION AND SERVICING AT SCALE FOR HOMEOWNERS. BY OFFERING REASONABLY PRICED MORTGAGE LOANS, RESPONSIBLE SERVICING, AND EFFECTIVE MORTGAGE COUNSELING, AND/OR INTEGRATING OUTSIDE QUALIFIED NONPROFIT COUNSELING ORGANIZATIONS TO SUPPORT ALL APPLICANTS, THE CENTER ENABLES ASSET-BUILDING AND SUSTAINABLE WEALTH FOR HOMEOWNERS WHO ARE NOT SERVED BY TRADITIONAL CAPITAL OR BANKING OUTLETS. PRODUCTS OFFERED IN 2021 INCLUDED THE EQUITABLE REVERSE MORTGAGE ASSISTANCE (ERMA) PROGRAM AND THE DISTRESSED MORTGAGE REFINANCE PROGRAM (DMRP), ALONG WITH SERVICING FOR LOANS MADE THROUGH THE MORTGAGE ASSISTANCE PROGRAM (MAP). ADDITIONALLY, SN WAS SELECTED TO ADMINISTER THE NYS HCR HOMEOWNER ASSISTANCE FUND, THROUGH WHICH WE ARE DELIVERING A HALF BILLION DOLLARS IN PANDEMIC RELIEF TO THOUSANDS OF NYS HOMEOWNERS.
HOMEOWNER SERVICES: THE CENTER DEVELOPS AND IMPLEMENTS PROGRAMS THAT MEET CRITICAL HOMEOWNER NEEDS, INCLUDING FORECLOSURE PREVENTION ADVICE AND ASSISTANCE, STORM RECOVERY ASSISTANCE, RESILIENCY COUNSELING, HELP WITH REPAIRS, ADVICE ON ENERGY EFFICIENCY, AND MORE. THE CENTER ALSO COORDINATES AND FUNDS A NETWORK OF NONPROFIT COMMUNITY-BASED HOUSING COUNSELING AND LEGAL SERVICE PROVIDERS THAT ACT AS A SAFETY NET FOR FAMILIES ACROSS NY STATE. WHEN NEEDED, THE CENTER ALSO PROVIDES DIRECT COUNSELING TO HOMEOWNERS TO FILL SERVICE GAPS. PROGRAMS AND SERVICES OFFERED IN 2021 INCLUDED FORECLOSURE PREVENTION, HOMEOWNER PROTECTION PROGRAM (HOPP), AND THE HOMEOWNER HELP DESK.
SYSTEMS CHANGE: THE CENTER EMPLOYS A CONTINUOUS CYCLE OF RESEARCH, ADVOCACY, THOUGHT LEADERSHIP, PILOT PROGRAMS, AND TECHNICAL ASSISTANCE TO MAKE THE CASE FOR GOVERNMENTAL CHANGES, PROGRAMS, AND INVESTMENTS THAT STABILIZE HOMEOWNERS AND EXPAND AFFORDABLE HOMEOWNERSHIP. OUR RESEARCH IS DRIVEN BY DATA AND BY EXPERIENCE ON THE GROUND WITH HOMEOWNERS, AND ANALYZES PAST AND CURRENT TRENDS TO SHED LIGHT ON BAD PRACTICES AND MAKE RECOMMENDATIONS ON BEST PRACTICES AND POLICIES. THESE EFFORTS ARE AIMED AT BOTH SUSTAINING THE CENTER AND OUR VISION, PROGRAMS, AND INTERVENTIONS, AND AT BUILDING THE CAPACITY, STRENGTH, AND ORGANIZATION OF THE FIELD. 2021 PROGRAMS AND INITIATIVES INCLUDED THE BLACK HOMEOWNERSHIP PROJECT (BHP), SCAM PREVENTION CAMPAIGNS, THE FLOODHELPNY DIGITAL PLATFORM, AND A VARIETY OF OTHER INITIATIVES AIMED AT RAISING AWARENESS OF AND SECURING RESOURCES FOR HOMEOWNER ISSUES ACROSS NYC AND NYS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christie Peale Executive Director | Officer | 40 | $216,900 |
Natasha N Pallan Chief Financial Officer | Officer | 40 | $162,250 |
Joseph L Sant Deputy General Counsel | 40 | $153,875 | |
Lucy Raimes Dir. Of Network Programs | 40 | $144,850 | |
Jessica Wells-Hasan V.P. Of Development | 40 | $142,000 | |
Lusheena Warner Chief Of Staff | 40 | $126,300 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Decision Science Analytics Llc Consulting | 12/30/21 | $248,820 |
Burchman Terrio & Quist Llc Accounting | 12/30/21 | $286,332 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $16,877,613 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,621,971 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $23,499,584 |
| Total Program Service Revenue | $0 |
| Investment income | $46,649 |
| 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 | $23,546,233 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,236,929 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $453,751 |
| Compensation of current officers, directors, key employees. | $125,055 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,198,827 |
| Pension plan accruals and contributions | $141,893 |
| Other employee benefits | $845,969 |
| Payroll taxes | $496,809 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,050 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $50,464 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,546,969 |
| Advertising and promotion | $1,694,663 |
| Office expenses | $60,742 |
| Information technology | $1,883,845 |
| Royalties | $0 |
| Occupancy | $550,592 |
| Travel | $1,194 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $82,912 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,516 |
| Insurance | $156,204 |
| All other expenses | $54,500 |
| Total functional expenses | $19,337,200 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,444,402 |
| Savings and temporary cash investments | $2,717,845 |
| Pledges and grants receivable | $15,340,585 |
| Accounts receivable, net | $94,360 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $88,829,409 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $449,393 |
| Net Land, buildings, and equipment | $111,622 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $190,086 |
| Total assets | $125,177,702 |
| Accounts payable and accrued expenses | $1,988,208 |
| Grants payable | $1,765,568 |
| Deferred revenue | $21,535,383 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $4,880,555 |
| Other liabilities | $371,130 |
| Total liabilities | $30,540,844 |
| Net assets without donor restrictions | $72,324,446 |
| Net assets with donor restrictions | $22,312,412 |
| 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 | $125,177,702 |
Grants Awarded
Over the last fiscal year, The Center For New York City has awarded $1,225,455 in support to 40 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: HOUSING & LEGAL COUNSELING | $241,838 |
New York City, NY PURPOSE: HOUSING & LEGAL COUNSELING | $57,500 |
NY LEGAL ASSISTANCE GROUP INC PURPOSE: HOUSING & LEGAL COUNSELING | $55,338 |
Brooklyn, NY PURPOSE: HOUSING & LEGAL COUNSELING | $55,000 |
Far Rockaway, NY PURPOSE: HOUSING & LEGAL COUNSELING | $50,000 |
Brooklyn, NY PURPOSE: HOUSING & LEGAL COUNSELING | $47,500 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that The Center For New York City has recieved totaling $1,430,881.
| Awarding Organization | Amount |
|---|---|
Enterprise Community Partners Inc Columbia, MD PURPOSE: CREATING/PRESERVING AFFORDABLE HOUSING/EXPAND EARLY LEARNING CENTERS | $799,881 |
Robin Hood Foundation New York, NY PURPOSE: POVERTY RELIEF | $365,000 |
The Blackbaud Giving Fund Charleston, SC PURPOSE: GENERAL SUPPORT | $120,500 |
The Blackbaud Giving Fund Charleston, SC PURPOSE: GENERAL SUPPORT | $120,500 |
Webster Bank Charitable Foundation Wilmington, DE PURPOSE: COVID-19 RECOVERY FUND AND GENERAL OPERATING SUPPORT | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Homes For Our Troops Inc Taunton, MA | $32,216,870 | $35,704,270 |
Arc Ocean County Chapter Lakewood, NJ | $28,493,804 | $32,257,873 |
Center For Community Action Everett, PA | $8,701,097 | $31,029,882 |
Community Housing Innovations Inc White Plains, NY | $68,684,135 | $30,486,174 |
Educational Housing Services Inc New York, NY | $147,607,496 | $20,918,839 |
Vanderheyden Hall Inc Wynantskill, NY | $10,154,920 | $26,980,074 |
The Center For New York City New York, NY | $125,177,702 | $23,546,233 |
Wellspan Properties Inc York, PA | $178,389,137 | $19,225,192 |
Rebecca Residence Allison Park, PA | $63,370,668 | $20,665,205 |
The Housing Partnership Network Inc Boston, MA | $38,640,476 | $16,875,187 |
Alliance For Behavioral & Developmental Disabilities Ltd Hermitage, PA | $7,380,317 | $14,591,071 |
Building Homes For Heroes Inc Island Park, NY | $15,491,113 | $13,729,241 |