New York Mortgage Coalition Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
THE NEW YORK MORTGAGE COALITION (NYMC) IS A NONPROFIT COLLABORATION OF FINANCIAL INSTITUTIONS AND COMMUNITY HOUSING AGENCIES FOCUSED ON EXPANDING THE OPPORTUNITY FOR RESPONSIBLE AND SUSTAINABLE HOMEOWNERSHIP TO MINORITY, AND LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES IN FIVE BOROUGHS OF NEW YORK, AS WELL AS THE SURROUNDING COUNTIES OF NASSAU, SUFFOLK, DUTCHESS, ORANGE, ROCKLAND, AND WESTCHESTER.NYMC SUPPORTS ITS NEIGHBORHOOD-BASED NONPROFIT MEMBERS IN THEIR PRE-PURCHASE COUNSELING, POST-PURCHASE EDUCATION, AND FINANCIAL LITERACY PROGRAMS. COALITION MEMBERS PROVIDE THE PUBLIC WITH ACCESS TO THE TOOLS TO ACHIEVE THE DREAM OF HOMEOWNERSHIP INCLUDING INFORMATION ON COMPETITIVE, FIXED-RATE LOANS, CLOSING COST GRANTS, AND DOWN PAYMENTS ASSISTANCE. NYMC ALSO SUPPORTS ITS MEMBER AGENCIES WHO PLAY A LEADING ROLE IN PRESERVING HOMEOWNERSHIP OFFERING INFORMATIONAL WORKSHOPS AND ONE-ON-ONE COUNSELING TO TROUBLED HOMEOWNERS THROUGH FORCLOSURE PREVENTION PROGRAM.
- Income
- $1.1 million
- Spending
- $1.1 million
- Spent on programs
- 91%
- Reserves
- 18.8 months of spending
- Largest source of income
- government grants, 50%
- Employees
- 4
- Volunteers
- 17
- Highest pay
- $128,573, executive dir.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Good: 86 out of 100. Higher than 78% of charities in its peer group (housing, $1m to $10m).
Reserves
35 of 35Spendable reserves would cover 18.8 months of spending.
Debt
16 of 20It owes 17% of what it owns.
Living within its means
15 of 15Income exceeded spending by 2% of income.
Income trend
5 of 15Income fell 20% on the year before.
Spending floor
15 of 1591% of spending went to programs and raising each dollar of donations cost 1 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 100 out of 100. Higher than 70% of charities in its peer group (housing, $1m to $10m).
Independent board
25 of 2513 of 13 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- $976,018 spent. HOUSING COUNSELING PROGRAM: NYMC HOUSING COUNSELING AGENCIES PROVIDE HOUSING COUNSELING SERVICES. CLIENTS WHO RECEIVE A HOMEOWNERSHIP CERTIFICATE OF COMPLETION MUST COMPLETE A MINIMUM OF 8 HOURS OF EDUCATION; 6 HOURS IN A CLASSROOM SETTING AND 2 HOURS OF ONE-ON-ONE COUNSELING WITH A HOMEOWNERSHIP COUNSELOR. 2 OUT OF 3 CLIENTS ENROLLED IN NYMC'S ONE-ON-ONE COUNSELING PROGRAM BECOME MORTGAGE-READY WITHIN 6 TO 12 MONTHS. SINCE INCEPTION, NYMC HAS PROVIDED HOMEOWNERSHIP COUNSELING TO MORE THAN 30,000 LOW TO MIDDLE INCOME FAMILIES AND HELPED ORIGINATE OVER $1 BILLION IN AFFORDABLE FIRST-HOME MORTGAGES.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since July 2002.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.