New York Mortgage Coalition Inc

Analysis

New York Mortgage Coalition Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 2002, 24 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, New York Mortgage Coalition Inc reported income of $1.6m and spending of $1.6m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $873k to $1.6m (+81%), an average of +16% a year. The sharpest change came in the year to December 2022, when income rose by 34%. Over the whole period it spent 108% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New York Mortgage Coalition Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 80th percentile within NY. Charities of a similar size with the same main cause include Delray Beach Community Land Trustinc ($1.6m), Mary Ryder Home ($1.6m) and U S Brownsville II HDFC ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 0.5% of the total. Compensation of current officers, directors and key employees was $179k (11% of expenses). Other salaries and wages came to $148k. At year end it held assets of $2.7m against liabilities of $830k, net assets of $1.9m. It reported 4 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.