2025-05-06T20:34:05-05:00 2024-06-30 331374517 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2023-07-01 133544227 COMMUNITY CAPITAL NEW YORK INC COMM 9147478020 44 EXECUTIVE BLVD 203 ELMSFORD NY 10523 ROBERT BENITEZ CEO 9147478020 2025-05-06 1 1 GARRETT M HIGGINS P00543209 9143818900 2025-05-06 2023 2025-03-06 01:10:19Z ROBERT BENITEZ 44 EXECUTIVE BLVD 203 ELMSFORD NY 10523 3383183 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 35 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. 11 11 16 15 0 0 1294297 1362969 1750991 818579 8175 100654 0 0 3053463 2282202 0 0 0 0 1069807 1298519 0 0 64519 953689 862406 2023496 2160925 1029967 121277 16189628 15465607 8104847 7408211 8084781 8057396 X COMMUNITY CAPITAL CREATES ECONOMIC OPPPORTUNITIES FOR UNDERSERVED, HISTORICALLY DISADVANTAGED INDIVDUALS AND COMMUNITIES BY PROVIDING FLEXIBLE LOANS AND BUSINESS SUPPORT SERVICES TO LOW-INCOME SMALL BUSINESSES AND BY FUNDING THE DEVELOPMENT OF AFFORDABLE HOUSING. 0 0 258026 0 404340 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 $15.9 MILLION IN LOANS TO OVER 530 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 MINORITIES 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. 1545195 0 414239 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. 1803221 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 1 389 0 16 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X X X AISHA BYFIELD 9147478020 44 EXECUTIVE BLVD ELMSFORD NY 10523 WILLIAM MERZ IV CHAIRMAN THRU 12/23 2.00 X X 0 0 0 RICHARD ST PAUL ESQ CHAIRMAN 2.00 X X 0 0 0 H PHILIP SALMON TREASURER 2.00 X X 0 0 0 RICHARD HECHT ASSISTANT TREASURER 2.00 X X 0 0 0 NEIL ALEXANDER SECRETARY 2.00 X X 0 0 0 BEN FRIERSON DIRECTOR 2.00 X 0 0 0 ALEXANDRA HANSON DIRECTOR 2.00 X 0 0 0 RICHARD HECHT DIRECTOR 2.00 X 0 0 0 NATALIE HUNTER DIRECTOR 2.00 X 0 0 0 AMANDA KELSO DIRECTOR 2.00 X 0 0 0 ANDERSON MITCHELL DIRECTOR 2.00 X 0 0 0 VLADIMER ORTEGA DIRECTOR THRU 02/24 2.00 X 0 0 0 EDWARD QUINN DIRECTOR THRU 12/23 2.00 X 0 0 0 BARRETT STOKES DIRECTOR 2.00 X 0 0 0 GLEN VETROMILE DIRECTOR THRU 03/24 2.00 X 0 0 0 IAN BENJAMIN INTERIM PRESIDENT & CEO 40.00 X 223785 0 8250 KELLY ALMANZAR CHIEF LENDING OFFICER 40.00 X 120352 0 9121 KATHRYN CONLAN CHIEF OPERATING OFFICER 40.00 X 134000 0 5100 478137 0 22471 3 0 1 0 0 882462 480507 1362969 INTEREST ON LOANS 522291 587760 587760 ADMIN FEE INCOME 522291 121225 121225 LOAN ORIGINATION FEES 522291 109594 109594 818579 9934 9934 1191701 1100981 90720 90720 90720 2282202 818579 0 100654 X 234000 187200 23400 23400 877818 828318 22500 27000 18982 17069 899 1014 75344 22929 52027 388 92375 86190 3051 3134 77350 7188 70041 121 318246 250482 62986 4778 14402 9934 4312 156 65916 39004 25558 1354 109134 99778 7222 2134 38794 35684 2346 764 114612 114612 388 388 11671 7933 3570 168 LOAN EXPENSE 81371 77132 4239 EDUCATION/TRAINING 29102 18032 10986 84 DEVELOPMENT 1200 1128 48 24 REPAIRS & MAINTENANCE 220 220 2160925 1803221 293185 64519 7340629 4417224 1702305 1275070 334557 230405 141897 75085 20253 29163 37263 26796 0 10467 6550068 9356220 99919 71973 16189628 15465607 371086 174804 2351469 1158949 0 55000 4987724 5652098 394568 367360 8104847 7408211 X 7404043 7455288 680738 602108 8084781 8057396 16189628 15465607 X 121277 -148662 X X 0 1 X 1 1 1 X 989680 1775438 3459319 1294297 1362969 8881703 989680 1775438 3459319 1294297 1362969 8881703 366420 8515283 5252 5165 4255 8175 9934 32781 8914484 4244937 0.95520 0.97540 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 2160925 2160925 258046 64512 0 0 232835 233061 251175 258046 975117 1462676 58209 58265 62794 64512 243780 365670 0 1 X 37263 26796 10467 10467 LOANS RECEIVABLE 9356220 C 9356220 EQUITY INVESTMENT PAYABLE 300000 RIGHT OF USE OF LIABILITIES 67360 367360 X 2282202 0 2282202 0 2282202 2309587 148662 148662 2160925 0 2160925 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, 2021. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOAN LOSS (BENEFIT) PROVISION 149,507. BAD DEBT RECOVERY -845. X X X X 0 0 0 0 0 0 0 0 0 IAN BENJAMIN INTERIM PRESIDENT & CEO 223785 0 0 0 0 0 4500 0 3750 0 232035 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 EDWARD QUINN 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 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 250,482. MANAGEMENT AND GENERAL EXPENSES 17,996. FUNDRAISING EXPENSES 4,778. TOTAL EXPENSES 273,256. PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 44,990. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 44,990. FORM 990, PART XI, LINE 9: LOAN LOSS (BENEFIT PROVISION) -149,507. BAD DEBT RECOVERY 845. 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.