Neighborhood Housing Services of New York City Inc
Neighborhood Housing Services of New York City Inc
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About this organization
Mission
Neighborhood Housing Services of New York City (NHSNYC) through financial empowerment and affordable lending, enables individuals and families to invest in, preserve and improve their neighborhoods, their homes and their future. Working in partnership with the private sector, government agencies and local residents and businesses, we offer a wide range of services based on the needs of each individual community we serve, including financial and homeownership education, loan origination and mortgage facilitation to support the attainment and sustainability of homeownership for underserved New Yorkers. Our ultimate goal is to support the realization of the best quality of life possible for each New Yorker, starting with a stable home.
About
Lending: Neighborhood Housing Services of New York City, Inc. (NHSNYC) is a federally-certified community development financial institution (CDFI). Our lending platform enables NHSNYC to originate loans and grants for the acquisition or preservation of 1-to-4 family properties throughout New York City, including houses as well as units in cooperative and condominium developments. NHSNYC also has the ability to provide renovation and repair loans for small buildings, with between one-to-twenty housing units. In 2017, NeighborWorks America selected NHSNYC to administer a $7.5 million Wells Fargo NeighborhoodLIFT program in New York City. Through this work, we provided more than 300 low- and moderate-income families with a forgivable loan of $20,000 for downpayment or closing cost assistance to help purchase homes in Queens, Brooklyn or the Bronx. These loans will be forgiven after five years, conditioned on clients residing in the home as their primary residence for those five years. In 2013, NHSNYC received $9.5 million from a similar Wells Fargo program, through which we helped 450 families sustainably achieve homeownership. Since 2006, we have also administered the New York City Department of Housing Preservation and Development's HomeFirst program, which provides first-time home buyers earning 80% or less than the area median income with a forgivable loan equal to 6% of their property's purchase price, with a current maximum $40,000.
Interesting data from their 2020 990 filing
The filing reveals the mission of the non-profit as “Neighborhood housing services of new york city (nhsnc), through financial empowerment and affordable lending, enables individuals and families to invest in, preserve and improve their neighborhoods, their homes and their future. working in partnership with the private sector, government agencies and local residents and businesses, we offer a wide range of services based on the needs of each individual community we serve, including financial and homeownership education, loan origination and mortgage facilitation to supoprt the attainment and sustainability of homeownership for underserved new yorkers. our ultimate goal is to support the realization of the best quality of life possible for each new yorker, starting with a stable home.”.
When detailing its functions, they were listed as: “Nhsnyc revitalizes underserved neighborhoods by helping residents buy, maintain and stay in their homes. nhsnyc empowers residents through homeownership education, financial capability building and community leadership training. working in partnerhsip with government and business, we are led by local residents and guided by local needs.”.
- According to the law, the state where the non-profit operates has been reported as NY.
- The filing specifies that the non-profit's address in 2020 was 307 WEST 36TH ST 12TH FL, NEW YORK CITY, NY, 10018.
- As of 2020, the non-profit's form shows they have a total of 42 employees.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $535,209.
- The organization has 16 independent voting members.
- The organization was formed in 1982.
- The organization pays $2,591,579 in salary, compensation, and benefits to its employees.
- The organization pays $225,128 in fundraising expenses.