2024-05-13T22:08:58-05:00 2023-06-30 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2022-07-01 133544227 COMMUNITY CAPITAL NEW YORK INC COMM 9147478020 44 EXECUTIVE BLVD 203 ELMSFORD NY 10523 IAN BENJAMIN INTERIM CHIEF EXECUTIVE OFFICER 9147478020 2024-05-13 1 IAN BENJAMIN 999009999 1 GARRETT M HIGGINS P00543209 9143818900 2024-05-13 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z IAN BENJAMIN 44 EXECUTIVE BLVD 203 ELMSFORD NY 10523 3053463 0 X WWW.COMMUNITYCAPITALNY.ORG X 1989 NY COMMUNITY CAPITAL IS A NONPROFIT LENDER THAT HAS REVITALIZED COMMUNITIES AND TRANSFORMED LIVES IN THE MID-HUDSON VALLEY, BRONX AND FAIRFIELD COUNTY, CT FOR 32 YEARS. OUR MISSION IS TO FOSTER ECONOMIC OPPORTUNITY FOR UNDERSERVED INDIVIDUALS AND LOW WEALTH COMMUNITIES BY PROVIDING INNOVATIVE LOANS AND BUSINESS TRAINING THAT SUPPORTS ENTREPRENEURS, AND THE DEVELOPMENT OF AFFORDABLE HOMES SO THAT ALL RESIDENTS CAN BE STAKEHOLDERS IN A MORE INCLUSIVE ECONOMY. 12 12 11 15 0 0 3459319 1294297 748434 1750991 4255 8175 0 0 4212008 3053463 30000 0 0 0 692485 1069807 0 0 56532 938727 953689 1661212 2023496 2550796 1029967 14769647 16189628 7536633 8104847 7233014 8084781 X COMMUNITY CAPITAL IS A NONPROFIT LENDER THAT HAS REVITALIZED COMMUNITIES AND TRANSFORMED LIVES IN THE MID-HUDSON VALLEY, BRONX AND FAIRFIELD COUNTY, CT FOR 32 YEARS. OUR MISSION IS TO FOSTER ECONOMIC OPPORTUNITY FOR UNDERSERVED INDIVIDUALS AND LOW WEALTH COMMUNITIES BY PROVIDING INNOVATIVE LOANS AND BUSINESS TRAINING THAT SUPPORTS ENTREPRENEURS AND THE DEVELOPMENT OF AFFORDABLE HOMES SO THAT ALL RESIDENTS CAN BE STAKEHOLDERS IN A MORE INCLUSIVE ECONOMY. 0 0 1457921 0 1503651 SEE SCHEDULE O - SMALL BUSINESS LENDING AND TECHNICAL ASSISTANCECOMMUNITY CAPITAL BEGAN WORKING WITH SMALL BUSINESS OWNERS IN 2003 AND RECEIVED SBA CERTIFICATION TO OFFER MICRO LOANS IN 2007. SINCE THEN, COMMUNITY CAPITAL HAS MADE $12.5 MILLION IN LOANS TO OVER 500 BUSINESSES AND HAS EMERGED AS THE LARGEST NONPROFIT SMALL BUSINESS LENDER IN THE HUDSON VALLEY. MOST OF OUR SMALL BUSINESS CLIENTS ARE LOW- TO MODERATE-INCOME, WOMEN, AND ENTREPRENEURS OF COLOR WHO HAVE HAD DIFFICULTY ACCESSING CAPITAL FROM TRADITIONAL BANKS TO GROW THEIR BUSINESSES. AT COMMUNITY CAPITAL WE WORK TO IDENTIFY THE BEST SOLUTIONS FOR EACH INDIVIDUAL BUSINESS OWNER. WE OFFER FAIR, TRANSPARENT LOANS AND LINES OF CREDIT WITH FLEXIBLE RATES AND TERMS. BORROWERS ALSO RECEIVE FREE, ON-GOING FINANCIAL COACHING, ONE-ON-ONE CONSULTING AND BUSINESS TRAINING SERVICES TO ENSURE SUSTAINABLE RESULTS. 284296 0 247340 SEE SCHEDULE O - COMMUNITY DEVELOPMENT AND AFFORDABLE HOUSING LENDING PROGRAMCOMMUNITY CAPITAL NEW YORK PARTNERS WITH PRIVATE AND NONPROFIT REAL ESTATE DEVELOPERS TO EXPAND AFFORDABLE HOUSING OPPORTUNITIES FOR LOW- AND MODERATE-INCOME INDIVIDUALS AND FAMILIES ACROSS NEW YORK STATE. AS A FLEXIBLE AND MISSION DRIVEN LENDER, CCNY IS COMMITTED TO SUPPORTING AFFORDABLE HOUSING DEVELOPERS WITH BOTH CAPITAL AND TECHNICAL ASSISTANCE. THROUGH A REVOLVING LOAN FUND, COMMUNITY CAPITAL NEW YORK WORKS COLLABORATIVELY AND CREATIVELY TO ADDRESS THE CAPITAL NEEDS OF AFFORDABLE HOUSING DEVELOPMENT PROJECTS. CCNY PROVIDES EARLY-STAGE PRE-DEVELOPMENT LOANS, ACQUISITION LOANS, BRIDGE LOANS, AND CONSTRUCTION LOAN FINANCING. CCNY SUPPORTS NEW CONSTRUCTION, REHABILITATION, ADAPTIVE RE-USE, MULTI-FAMILY, SINGLE-FAMILY, MIXED-USE, MIXED-INCOME AND SUPPORTIVE AFFORDABLE HOUSING FOR SENIORS, VETERANS, AND PEOPLE WITH DISABILITIES OR EXPERIENCING HOMELESSNESS. CCNY PROVIDES FINANCING TO DEVELOPERS BUILDING BOTH AFFORDABLE HOMEOWNERSHIP AND MULTIFAMILY RENTAL UNITS. CCNY PROVIDES TECHNICAL ASSISTANCE WHEN IT IS NEEDED TO HELP MOVE AFFORDABLE HOUSING PROJECTS THROUGH DEVELOPMENT. CCNY FINANCES HIGH-IMPACT COMMUNITY DEVELOPMENT PROJECTS THROUGH OUR LENDING PROGRAM WHICH SUPPORTS THE DEVELOPMENT OF SAFE AND HIGH-QUALITY AFFORDABLE HOUSING WITH IS AN ESSENTIAL BUILDING BLOCK FOR FAMILIES AND INDIVIDUALS AND IS LINKED TO HEALTH AND WELLNESS, STRONG CHILD AND YOUTH DEVELOPMENT, POSITIVE EDUCATIONAL OUTCOMES, EMPLOYMENT OPPORTUNITIES AND PERSONAL AND NEIGHBORHOOD SAFETY. 1742217 1 1 0 1 0 0 0 0 1 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 229 0 11 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X X X MAIER MARKEY & JUSTIC LLP 9146449200 2 LYON PLACE WHITE PLAINS NY 10601 WILLIAM MERZ IV CHAIRMAN 2.00 X X 0 0 0 RICHARD HECHT TREASURER 2.00 X X 0 0 0 YVETTE WYNN SECRETARY 2.00 X X 0 0 0 RICHARD ST PAUL ESQ CHAIR OF LOAN COMMITTEE 2.00 X X 0 0 0 NEIL ALEXANDER DIRECTOR 2.00 X 0 0 0 M JOHN CONSTABLE DIRECTOR THRU 01/13/23 2.00 X 0 0 0 ROBERT M GREENE DIRECTOR THRU 01/12/23 2.00 X 0 0 0 ALEXANDRA HANSON DIRECTOR 2.00 X 0 0 0 AMANDA KELSO DIRECTOR 2.00 X 0 0 0 DANIEL A LANSEN DIRECTOR THRU 10/14/22 2.00 X 0 0 0 ANDERSON MITCHELL DIRECTOR 2.00 X 0 0 0 VLADIMER ORTEGA DIRECTOR 2.00 X 0 0 0 EDWARD QUINN DIRECTOR 2.00 X 0 0 0 H PHILIP SALMON DIRECTOR 2.00 X 0 0 0 GLEN VENTROMILE DIRECTOR 2.00 X 0 0 0 IAN BENJAMIN INTERIM PRESIDENT & CEO FROM 11/7/22 40.00 X 29167 0 1534 FARSHAD MALTES FORMER CEO THRU 07/22/22 40.00 X 171440 0 0 ELISSA BARD COO THRU 03/03/23 40.00 X 145833 0 11466 346440 0 13000 2 0 1 0 MAIER MARKEY & JUSTIC 2 LYON PLACE WHITE PLAINS NY 10601 ACCOUNTING AND FINANCIAL SERVICES 110225 1 688946 605351 1294297 ADMIN FEE INCOME 522291 1334604 1334604 INTEREST ON LOANS 522291 367254 367254 LOAN ORIGINATION FEES 522291 49133 49133 1750991 8175 8175 3053463 1750991 0 8175 X 196985 157587 19699 19699 751117 731261 14919 4937 25219 16893 8326 25823 16780 8552 491 70663 66904 2279 1480 295 295 66300 25155 39780 1365 450940 350159 88871 11910 17916 15345 431 2140 96992 64319 29688 2985 99871 91962 4103 3806 39252 34664 2662 1926 115410 115410 16895 13868 2256 771 EDUCATION/TRAINING 24115 20655 2886 574 LOAN EXPENSE 20535 20535 DEVELOPMENT 4448 4448 REPAIRS & MAINTENANCE 720 720 2023496 1742217 224747 56532 8237656 7340629 1389601 1702305 554394 334557 21463 141897 22583 20253 26408 26408 0 0 4537862 6550068 6088 99919 14769647 16189628 153847 371086 1922699 2351469 5160087 4987724 300000 394568 7536633 8104847 X 5353803 7404043 1879211 680738 7233014 8084781 14769647 16189628 X 1029967 -178200 X X 0 1 X 1 1 1 X 1094878 989680 1775438 3459319 1294297 8613612 1094878 989680 1775438 3459319 1294297 8613612 184504 8429108 5130 5252 5165 4255 8175 27977 8641589 3717789 0.97540 0.98710 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 2023496 2023496 251175 62794 0 0 234912 232835 233061 251175 951983 1427975 744 744 58728 58209 58265 62794 237996 356994 0 1 X 26408 26408 0 0 LOANS RECEIVABLE 6550068 C 6550068 EQUITY INVESTMENT PAYABLE 300000 RIGHT OF USE OF LIABILITIES 94568 394568 X 3064343 10880 10880 3053463 0 3053463 2212576 10880 178200 189080 2023496 0 2023496 PART IV, LINE 2B: FROM TIME TO TIME THE CORPORATION HOLDS FUNDS AS COLLATERAL AGAINST OUTSTANDING LOANS. PART X, LINE 2: THE CORPORATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE CORPORATION HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE CORPORATION IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO JUNE 30, 2020. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN LOAN LOSS RESERVE 178,200. PART XII, LINE 4B - OTHER ADJUSTMENTS: CHANGE IN LOAN LOSS RESERVE X X X X 1 0 0 0 0 0 0 1 0 FARSHAD MALTES FORMER CEO THRU 07/22/22 117940 0 0 0 53500 0 0 0 0 0 171440 0 0 0 ELISSA BARD COO THRU 03/03/23 131250 0 14583 0 0 0 5833 0 5633 0 157299 0 0 0 PART I, LINE 4A FARSHAD MALTES RECEIVED A $53,500 SEVERANCE PAYMENT IN AUGUST 2022. PART I, LINE 7 EMPLOYEES LISTED IN SCHEDULE J RECEIVED A BONUS IN THEIR 2022 W2 AS REPORTED IN PART II, COL. B. FORM 990, PART VI, SECTION A, LINE 2 EDWARD QUINN, YVETTE WYNN, AND ANDERSON MITCHELL HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM, WITH THE ASSISTANCE OF MANAGEMENT, AND HAS THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. ONCE THE FORM 990 IS PREPARED, IT IS PRESENTED TO THE EXECUTIVE COMMITTEE FOR ITS REVIEW, REVISION AND/OR APPROVAL. THE COMMITTEE HAS BEEN PREVIOUSLY AUTHORIZED BY THE BOARD OF DIRECTORS TO TAKE RESPONSIBILITY FOR THE FORM 990 REVIEW. UPON REVIEW THE EXECUTIVE COMMITTEE APPROVES THE FORM 990, AND A COPY IS ELECTRONICALLY SUBMITTED TO ALL BOARD MEMBERS PRIOR TO FILING THE RETURN WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY REQUIRES THAT ALL DIRECTORS, COMMITTEE MEMBERS, AND OFFICERS COMPLETE A CONFLICT OF INTEREST STATEMENT ON AN ANNUAL BASIS. IMMEDIATELY UPON ELECTION OR APPOINTMENT AS A DIRECTOR OR OFFICER, ALL DIRECTORS AND OFFICERS SHALL DISCLOSE ANY RELEVANT INTEREST OF AN INTERESTED PARTY OR RELATED PARTY AS THEY RELATE TO SUCH DIRECTOR OR OFFICER WHICH MAY POSE A POTENTIAL CONFLICT OF INTEREST. THE BOARD OF DIRECTORS OF CCNY (OR A DULY APPOINTED COMMITTEE OF THE BOARD) SHALL INVESTIGATE THE POTENTIAL CONFLICT OF INTEREST. THE DIRECTOR OR OFFICER TO WHOM THE POTENTIAL CONFLICT OF INTEREST RELATES MAY OFFER FACTUAL INFORMATION TO THE BOARD OR COMMITTEE; BUT NO SUCH DIRECTOR OR OFFICER SHALL VOTE ON SUCH MATTER. THE BOARD OR COMMITTEE MAY, BY MAJORITY VOTE, ASK ANY SUCH DIRECTOR OR OFFICER NOT TO PARTICIPATE IN ANY DISCUSSION RELATING TO THE CONFLICT, OR TO LEAVE THE ROOM IN WHICH SUCH DISCUSSION IS CARRIED ON; PROVIDED, HOWEVER, THAT THE INTERESTED DIRECTOR MAY PARTICIPATE IN ANY DISCUSSION REGARDING HIS OR HER EXCLUSION. DIRECTORS AND OFFICERS TO WHOM THE POTENTIAL CONFLICT OF INTEREST RELATES SHALL NOT ATTEMPT TO INFLUENCE OTHER DIRECTORS REGARDING SUCH MATTER. AFTER CONDUCTING DUE DILIGENCE, THE BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN CCNY'S BEST INTEREST AND FOR ITS OWN BENEFIT AND WHETHER THE TRANSACTION IS FAIR AND REASONABLE TO CCNY AND SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO OR ALLOW THE TRANSACTION OR ARRANGEMENT IN CONFORMITY WITH SUCH DETERMINATION. AS PART OF ITS DUE DILIGENCE EFFORTS, THE BOARD OR COMMITTEE SHALL DETERMINE WHETHER CCNY CAN OBTAIN A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT WITH REASONABLE EFFORTS FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. THE FOLLOWING INFORMATION SHALL BE RECORDED IN THE MINUTES OF THE MEETING OF THE BOARD OR COMMITTEE: 1. THE NAMES OF THE PERSONS WHO DISCLOSED OR OTHERWISE WERE FOUND TO HAVE A FINANCIAL INTEREST IN CONNECTION WITH AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, THE NATURE OF THE FINANCIAL INTEREST, ANY ACTION TAKEN TO DETERMINE WHETHER A CONFLICT OF INTEREST WAS PRESENT, AND THE BOARD'S OR COMMITTEE'S DECISION AS TO WHETHER A CONFLICT OF INTEREST IN FACT EXISTED; AND 2. THE NAMES OF THE PERSONS WHO WERE PRESENT FOR DISCUSSIONS AND VOTES RELATING TO THE TRANSACTION OR ARRANGEMENT, THE CONTENT OF THE DISCUSSION, INCLUDING ANY ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT, AND A RECORD OF ANY VOTES TAKEN IN CONNECTION THEREWITH. FORM 990, PART VI, SECTION B, LINE 15A SALARY FOR THE CEO AND OTHER KEY POSITIONS IS DETERMINED BY GATHERING COMPENSATION DATA FROM RELEVANT COMPENSATION SURVEYS. THE DATA IS SHARED AND REVIEWED BY THE EXECUTIVE COMMITTEE TO ENSURE THAT SALARIES ARE IN LINE WITH INDUSTRY STANDARDS. COMPENSATION IS DOCUMENTED IN BOARD MINUTES AND IN THE BUDGET. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AND FORM 1023 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS AVAILABLE ON GUIDESTAR.ORG AND OTHER SIMILAR WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION AND BY-LAWS ARE AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION DIRECTLY. FORM 990, PART IX, LINE 11G CONSULTANT FEES: PROGRAM SERVICE EXPENSES 350,159. MANAGEMENT AND GENERAL EXPENSES 11,910. FUNDRAISING EXPENSES 11,910. TOTAL EXPENSES 373,979. PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 76,961. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 76,961. FORM 990, PART XI, LINE 9: CHANGE IN LOAN LOSS RESERVE -178,200. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A FINANCE COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS DID NOT CHANGE FROM THE PRIOR YEAR.