2013 annual report - Neighborhood Housing Services

NEIGHBORHOOD HOUSING SERVICES OF NEW YORK CITY, INC.
2013 ANNUAL REPORT
We Provide Resources To Help Stabilize New York City Neighborhoods.
AA MESSAGE
MESSAGE
FROM THE BOARD PRESIDENT AND THE CHIEF
FROM THE BOARD PRESIDENT AND THE CHIEF EXECUTIVE OFFICER
EXECUTIVE OFFICER
Dear Friends:
Neighborhood Housing Services of New York City, Inc. (NHSNYC) in 2013 launched the CityLIFT program in
partnership with Wells Fargo Bank and NeighborWorks® America. On the weekend of June 7 th, 2013 nearly
one thousand people came to NHSNYC seeking to qualify for this down payment assistance on qualified
properties: $15,000 to buy a home in Newark or Jersey City, New Jersey and $30,000 to buy a home in
Brooklyn or The Bronx, New York. The launch of CityLIFT clearly demonstrated the strength of our
organizational structure. We are most fortunate to be an organization comprised of a network of
neighborhood offices and NHSNYC NeighborWorks Homeownership centers. Our staff, boards, and
committees regularly unite, working together to respond to the needs of New York City neighborhoods.
NHSNYC is a Community Development Financial Institution and is certified by The Federal Housing
Administration (FHA) to originate down payment and closing cost assistance loans. We are a Department of
Housing and Urban Development (HUD) certified counseling agency and take pride in being a continuously
learning organization. Our homeownership counselors and lending staff are required to comply with the
National Industry Standards for Homeownership Education and Counseling. Our dedicated staff is well
equipped to provide assistance to our clients that ranges from learning how to budget and improve their
credit score, to taking classes to fulfill the desire to purchase a place they call home, to learning how to
safely use power tools to make a home repair. Our counselors are at their best when they experience the
tears of joy as a homeowner learns s/he can still achieve homeownership or when they can assist a family in
keeping their house during these distressful economic times and keep their children in the local school. WE
are NHSNYC and WE are dedicated to providing resources to stabilize neighborhoods.
Back in 1982, home improvement loans formed the core of our program offerings. Our programs and
services have expanded and for over thirty years NHSNYC has proven to be a responsive organization,
anticipating and working with swift execution to meet the needs of homeowners and small building owners
throughout the five boroughs. Our programs and services focus on the stabilization of neighborhoods and
resources to residents, with a niche in the homeowner market. We wish to thank our supporters, for with
your support NHSNYC continues work with New York residents as they build the knowledge and obtain the
resources to make informed financial decisions in their choice of home.
Sincerely,
Erik P. Shumar
President, Board of Directors
Bernell Grier
Chief Executive Officer
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NHSNYC Annual Report
“W E
2013
HAVE TO REMEMBER THAT THE BEST AND THE BRIGHTEST ARE BORN IN EVERY
NEIGHBORHOOD , IN EVERY ZIP CODE .
A ND
WHAT MARKS A JUST SOCIETY IS THAT IT
ALLOWS THEM ALL TO REACH THEIR POTENTIAL .”
M AYOR B ILL D E B LASIO , H OUSING N EW
Y ORK P LAN
MISSION AND OVERVIEW
Since 1982, NHSNYC has achieved significant progress toward fulfilling our organizational mission:
To revitalize underserved neighborhoods by creating and preserving affordable housing and
providing opportunities for homeownership education, financial assistance and community
leadership. Working in partnership with government and business, we are led by local residents
and guided by local needs.
NHSNYC has become the largest multi-site direct service provider of homeownership services in
New York City. In 2013, NHS of East Flatbush established a new office in Canarsie to expand our
presence in key underserved communities—including: Bedford-Stuyvesant, East Flatbush, the North
Bronx, the South Bronx and Northern Queens. We help low-and-moderate-income families continue
living in New York City, by working to overcome a growing number of severe challenges—notably
the mortgage crisis, widespread gentrification and an aging housing stock. While our primary focus
remains homeownership, we recognize that many clients need additional time to strengthen their
personal finances before achieving these goals. In response, NHSNYC will expand our services
during 2014 to help more New York City residents obtain affordable rental housing.
Currently, NHSNYC implements interlinked programs in three core areas:
Neighborhood Stabilization and Homeownership Preservation
As a CDFI we offer low-interest loans for the purchase, renovation or re-construction of singlefamily homes as well as the completion of emergency repair and energy efficiency projects; 2)
Comprehensive training about all phases of the homeownership process; 3) Assistance in
securing affordable, fixed-rate mortgage financing; 4) Foreclosure intervention services and
home maintenance training; and 5) Affordable housing development services, targeting small
residential and mixed-use properties.
Financial Counseling Support to assist clients in creating realistic household budgets, which
align monthly expenses with available income. Through these efforts, we help strengthen the
personal finances of families, particularly by increasing their credit score and savings while
decreasing credit-card debt.
Resident Leadership and Community Building through awareness campaigns, community
organizing and leadership development programs—including by training residents in our
targeted communities to serve effectively as Board members or on other key organizational
committees, which creates an opportunity to develop meaningful personal relationships with
executives from the private and public sectors.
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ORGANIZATIONAL HISTORY
NHSNYC was incorporated in 1982 to provide an organizational infrastructure for local residents
working to improve their communities by offering executive leadership, strategic planning, resource
development and construction management.
Since 1982, NHSNYC has enabled more than 11,300 New York City residents to receive over $1.944
billion in mortgage financing to purchase their first home responsibly (6,500) and low-interest loans
for critical repairs or improvements (4,815). NHSNYC also educated 173,183 clients about effective
strategies for pursuing homeownership (80,684) and averting a home foreclosure (92,499). In
addition, we successfully rehabilitated 451 properties, including 377 acquired by the City of New
York through in-rem foreclosure. Through our StoreWorks initiative, we have rehabilitated 148
mixed-used buildings into local centers of economic activity, with between one and six residential
units above a ground-floor commercial space.
Offering low-interest rehabilitation loans to homeowners was the first program created by NHSNYC
in 1982, since banks at the time, were unwilling to provide such financing in low-income
communities. During that year, we closed eight loans totaling $37,341. In 1998, we first earned
certification as a Community Development Financial Institution and by 2013, had issued more than
$104 million in rehabilitation loans to homeowners throughout New York City. NHSNYC is pleased
to report securing re-certification as a Community Development Financial Institution (CDFI) in 2013.
In addition, NHSNYC is a chartered member of NeighborWorks™ America (NW), a national
network of more than 235 affordable housing and community development organizations in all 50
states. We were selected by NW to administer the Well Fargo CityLIFT downpayment assistance
program in the New York City metropolitan area during 2013, with $9.5 million in available funds.
NHSNYC therefore had a unique opportunity to provide income-eligible families with $30,000 for
the purchase of a home in either Brooklyn or the Bronx—as well as $15,000 to purchase a home in
Newark or Jersey City, in partnership with La Casa de Don Pedro—another NW member. Families
receive this assistance as a loan that we will forgive at an annual rate of 20% for five years,
conditional upon using the property as their primary residence.
For more than 30 years, we have also effectively implemented an integrated service model promoted
by NW called Full Cycle Lending. The innovative design of this Full-Cycle lending model integrates
the provision of financial empowerment services, individual counseling support and educational
workshops with access to substantial down-payment assistance as well as affordable and fixed-rate
mortgage financing provided by partner institutions.
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STATEMENT OF NEED
The Critical Importance of High-Quality Housing Counseling Services
In a 2013 report that recommended key improvements to the nation’s housing policy, the Bipartisan
Policy Center (BPC) recognized the importance of high-quality housing counseling services in
improving access to affordable and prudent mortgage financing. NHSNYC recognizes the importance
of responsible homeownership as a critical strategy for enabling low-and-moderate-income families to
continue living in New York City as well as creating resilient communities. Between 2007 and 2011, the
American Community Survey estimated New York City’s homeownership rate at 32.6%. With more
than 3.37 million housing units throughout the five boroughs, this figure represents more than 1
million families who have successfully achieved the American dream of homeownership in New York
City.
According to a 2013 Report from New York University’s Furman Center for Real Estate and Urban
Policy, over 31% of all renters in New York City pay more than 50% of their income for housing and
utility costs. Therefore, we target low-to-moderate-income clients in our homeownership promotion
programs with the ability to purchase a home with funds currently used for rent—at a cost that does
not exceed 36% of their total income. Through this work, we help families convert their single largest
expense into an asset, through which equity can be accumulated.
Despite the mortgage crisis, widespread gentrification and an aging housing stock—NHSNYC has
realized significant success in assisting families achieve responsible homeownership throughout our
targeted communities as summarized below:
In the Bronx for example, NHSNYC clients typically pay $1,800 in rent each month, which is
sufficient to purchase condominiums available at a sale price of $150,000—particularly on side
streets off the Grand Concourse and in Parkchester.
In Brooklyn’s East New York neighborhood, single-family homes are available at prices that
average $225,000—affordable compared with the cost in other formerly low-to-moderate-income
communities throughout Brooklyn that have been rapidly gentrifying. Today, a typical twofamily home in East Flatbush costs more than $450,000 and $1 million in areas of BedfordStuyvesant.
The six community districts served by NHS of Northern Queens had an average
homeownership rate of 34%, according to 2010 census data, as many immigrants from Latin
American and Asian countries view homeownership as a critical element of realizing the
American Dream, while consistently savings small amounts each month to fulfill this goal.
The Continued Need for Foreclosure Intervention Services
According to data from the Furman Center, 4,363 mortgages in New York City entered the foreclosure
process during the second quarter of 2013, which represents a 37% increase in this figure since 2012.
Notably, these pre-foreclosure filings were concentrated in the Bronx and Queens, where NHSNYC
maintains four of our six neighborhood offices.
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HOMEOWNERSHIP PROMOTION AND PRESERVATION
Homeownership Promotion
During a two-day launch of our CityLIFT program in June 2013, we assessed the ability of more than
1,000 families to achieve the American dream of homeownership responsibly. To date, we have
confirmed the eligibility of 345 New York City residents to receive CityLIFT assistance, totaling
more than $9.3 million—of whom, 293 have formally purchased a home after receiving $8 million
through this program. Our efforts leveraged over $80 million in mortgage financing from our
partner financial institutions.
Our comprehensive home buyer education program uses a curriculum developed by
NeighborWorks™ America, entitled Realizing the American Dream. Through this work, participants
learn about credit, effective money management techniques as well as the mortgage application and
home buying process.
In addition, we help participants obtain and understand all aspects of their credit report, including:
information from the public record, adverse and satisfactory accounts, regular and promotional
inquiries as well as consumer statements. Through this work, we enable clients to recognize
opportunities for improving their credit score by addressing key factors that resulted in a lower
figure, notably: debts sourced to collection agencies, significant or frequent delinquent payments
and a high average balance of revolving accounts.
We also recognize that many landlords are increasingly seeking credit-worthy tenants to occupy
their building, which low-and-moderate-income families often have difficulty in documenting. In
response, NHSNYC is positioning our housing counseling support and education classes as critical
tools in helping developers identify residents of underserved communities with the ability to afford
their rent and pay this expense on time each month. Our neighborhood office in Bedford-Stuyvesant
is currently negotiating with a developer to refer 10 graduates of our eight-hour education program
as tenants in three properties. During 2014, NHSNYC looks forward to expanding this work with
other developers and management firms in our targeted communities.
NHSNYC also assists clients who are well-positioned for homeownership in obtaining downpayment or closing-cost assistance through:
Forgivable loans, up to 6% of a home’s purchase price or $15,000, for first-time homebuyers
earning within 80% of the Area Median Income (AMI). Notably, NHSNYC was selected by the
New York City Department of Housing Preservation and Development to serve as the sole
administrator for this HomeFirst program.
A Federal Home Loan Bank Program that provides $4 for every $1 saved by an income-eligible firsttime home buyer, up to $7,500.
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In January 2013, NHSNYC received formal certification as a Federal Housing Administration (FHA)
lender, which will enable us to underwrite second mortgages for use as a down payment, directly to
more first-time homeowners. We have also started to underwrite mortgages directly for individuals
interested in purchasing limited-equity housing cooperatives and unable to qualify for conventional
bank financing.
As the culmination of these efforts, NHSNYC helps families sustain homeownership, including by
recommending the creation of a fund for repairs, equal to one percent of their home’s purchase price
each year through consistent monthly contributions as well as understanding strategies for
increasing their take-home pay, through adjusting withholding levels to reflect substantial tax
deductions for mortgage interest and property taxes.
Homeownership Preservation
NHSNYC also provides comprehensive foreclosure intervention services, targeting homeowners
who have experienced reductions in work hours, illness or prolonged periods of unemployment.
Our staff reviews the personal finances of all clients and assesses their eligibility for the Home
Affordable Modification Program (HAMP). Our efforts help families obtain and understand their
credit report as well as submit complete HAMP applications electronically. These critical steps often
enable NHSNYC clients to secure a mortgage modification or forbearance agreement. When
appropriate, we also assist clients in transitioning to rental units or other housing options with
dignity.
In addition, we are pleased to announce that the New York State Attorney General’s Office has
awarded NHSNYC a three-year funding commitment to provide more distressed homeowners with
foreclosure intervention services—annually totaling $532,000. This contract helps replace funds
previously awarded by the State of New York. In 2013, we also received a one-year, $320,000
contract from the National Foreclosure Mitigation Counseling program to support this work.
REAL ESTATE DEVELOPMENT
NHSNYC has three housing development subsidiaries that are responsible for the development of
housing. Our specialty is in scattered sight small property development and preservation. In 2013,
NHS-CDC sold four properties for $3,228,088. The total acquisition and rehabilitation costs of these
four properties amounted to $2,582,136 at the time of the sale. In 2014, NHSNYC will work to sell or
rent the last five mixed-use residential and commercial buildings remaining through our
StoreWorks Initiative:
1. 580 and 582 Livonia Avenue in East New York (Brooklyn): Two adjoining properties each with a
two-bedroom residential unit;
2. 489 Ralph Avenue in Brooklyn’s Ocean Hill neighborhood with a two-bedroom residential unit;
3. 188-09 Linden Avenue in St. Albans (Queens) with a two-bedroom residential unit; and
4. 107-20 Guy R. Brewer Boulevard in Jamaica (Queens) with two studio apartments.
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We recognize the potential of these mixed-use residential and commercial properties to house
growing small businesses that bring new job opportunities to underserved communities. The
commercial spaces developed through our StoreWorks program have been occupied by firms
ranging from barbershops to local accountants. Therefore, we project that the businesses using these
five commercial spaces will employ an average of 3.5 workers or 17.5 in total.
RESILIENCY NEW YORK
We never would have guessed that the actual, literal weather would prove to be the pivotal moment
for all of us in 2012 – Superstorm Sandy. The storm ripped across the City in a way that was truly
unprecedented, leaving in its wake a trail of destruction like no other storm before it. The City
rallied and pulled together, neighbor helping neighbor, federal, state and City agencies and groups
offering assistance, cleaning up, pitching in, determined to move ahead.
NHS of East Flatbush’s board and staff recognized an increase in demand for our foreclosure
intervention services throughout Canarsie as a result of Superstorm Sandy, which destroyed the
basement apartments rented by many homeowners to defray their monthly mortgage payments.
Without this income, a growing number of families have become at-risk of foreclosure and require
our assistance. In response, we established a new office in Canarsie at 9715 Avenue L to work more
closely with impacted families, particularly members of the neighborhood’s Haitian community.
Notably, a New York Times article on October 8, 2013 noted that more than 10% of all one-to-fourunit homes were in foreclosure throughout the 11236 zip code, using data from the Federal Reserve
Bank of New York, which encompasses most of Canarsie.
Our extensive work with families devastated by the foreclosure crisis and in neighborhoods
impacted by Sandy created a significant demand for NHSNYC to re-launch a comprehensive
Insurance Services program. Responding to this need, we formally established Resiliency New York
with lead funding NeighborWorks™America. During the next three years, we will help more lowto-moderate-income families better understand their coverage options for property & casualty as
well as life insurance. To implement Resiliency New York, we hired Elizabeth Malone in July 2013,
who previously directed an NHSNYC Insurance Services program between 2000 and 2007—which
annually provided assistance to more than 2,100 clients.
By successfully implementing Resiliency New York, we will help homeowners identify strategies for
avoiding forced-place insurance and acquiring the coverage necessary to preserve their home equity
after a disaster. NHSNYC realizes that homeowners have access to an overwhelming amount of
information about insurance products online but lack independent guidance and support in
effectively evaluating the impact of particular coverage options.
Through Resiliency New York, NHSNYC helps residents assess their risk management choices by
providing comprehensive educational services and individual counseling support. We will also
help our clients address key impacts of recent changes to the National Flood Insurance Program and
Biggert-Waters Flood Insurance Reform Act of 2012, which has dramatically increased insurance
premiums for an estimated 60,000 homeowners living in New York City’s coastal communities.
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KEY NHSNYC ACCOMPLISHMENTS
During 2013, NHSNYC leveraged investments that totaled more than $110 million in underserved
neighborhoods throughout New York City, an increase of $25 million compared with 2012. As a result,
each dollar invested in our $7 million operating budget last year, generated benefits in key targeted
communities of $15.71—a significant rate of return for NHSNYC’s core programs.
We are also excited to present our key outcomes through 2013:
Homeownership Promotion
Metric
Goal
Achievement
Notable Increase
from 2012
Attendance at orientation sessions for our core programs
Graduates of our eight-hour home buyers education class
Clients who received individual homeownership counseling
support from NHSNYC
Number of clients who created a balanced household budget
NHSNYC clients who purchased their first home with our
support and assistance.
Facilitation of affordable and fixed-rate mortgage financing
Homeownership Preservation
Metric
Foreclosure intervention clients
Mortgage modifications or forbearance
agreements negotiated by NHSNYC
Home maintenance training graduates
Improved housing units through issuing
low-interest loans and grants
1,000
300
700
1,138
522
796
N/A
15%
N/A
600
300
998
371
N/A
51.8%
N/A
$91 million
53.8%
Goal
Achievement
1,110
175
1,260
196
Notable Increase from
2012
N/A
16.7%
100
200
131
235
47%
N/A
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SELECT CLIENT SUCCESSES
NHSNYC is pleased to highlight the experiences of several clients who benefitted significantly from
our services during 2013 in responsibly acquiring or preserving the American dream of
homeownership:
For six years after arriving in the United States, an immigrant from Bangladesh consistently saved
money to purchase his own home. Despite this effort and job as a Traffic Enforcement Agent with
the New York City Police Department, he was unable to accumulate the downpayment necessary to
fulfill this goal until he engaged with NHSNYC. By participating in our CityLIFT and HomeFirst
programs last year, he secured $40,000 as downpayment assistance to purchase a home in the North
Bronx neighborhood of Parkchester—for his two young children, wife and parents. Notably, this
support leveraged $112,400 in affordable and fixed-rate mortgage financing.
In Brooklyn, we partnered with Habitat-for-Humanity to help a 48-year old, single-mother, establish
a safe home for her two teenage daughters—after an abusive relationship. In April, she completed
our eight-hour home buyer education class and then a 24-hour Home Maintenance Training
program at our neighborhood office in Bedford-Stuyvesant—as requirements to purchase a
condominium through Habitat-for-Humanity. Our work enabled her to secure $13,500 in
downpayment assistance from the HomeFirst program. We also helped her obtain a $213,476
mortgage from one of our Home Funders Program partners through the State of New York
Mortgage Agency, at an interest-rate of 2%. Notably, during our individual counseling sessions, we
underscored that she should never re-finance her mortgage and risk losing that interest rate. We also
encouraged her to consider becoming involved in the condominium’s Board of Directors as well as
scheduling an introductory meeting with the local Councilman as a new homeowner in the BedfordStuyvesant community.
In the Bronx, we enabled a 77-year old African-American man to preserve his home in retirement.
While providing extensive counseling support to avert a foreclosure, we realized that his home was
currently worth less than the outstanding mortgage balance. Our staff then guided him through the
process of obtaining a $200,000 reduction in mortgage principal and a modification that reduced his
interest rate from 5% to 2%. In 2014, we look forward to negotiating additional partnerships that
generate more referrals of seniors seeking homeownership preservation services from NHSNYC.
In September 2013, NHSNYC enabled a 43-year, African-American man and his mother to become
homeowners responsibly, by purchasing a vacant property in Brooklyn’s East New York
neighborhood on Blake Avenue. This success culminated a three-year process of strengthening his
personal finances, which began in 2010. At the time of our first meeting, he paid $1,034 each month
to service past debts. After closely reviewing his credit report, we identified relatively-small loans
that could be targeted for repayment. Our efforts helped him reduce his monthly debt-service
payments to $624 and ultimately secure more than $408,000 in mortgage financing. He also
completed our eight-hour home buyer education program and two-hour landlord training class.
Finally, we guided him through the process of securing downpayment assistance from the second
round of the federal Neighborhood Stabilization Program, which totaled $50,000.
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Key Achievements in Our Targeted Neighborhoods
Given our decentralized structure, we have a unique capacity to fulfill the diverse needs of constituencies
throughout New York City. NHSNYC is pleased to summarize the key achievements of our
neighborhood offices during 2013.
In Brooklyn:
NHS of East Flatbush fulfilled a key leadership role in developing the Canarsie Recovery Coalition
(CRC) during 2013—as a network of more than 30 non-profits organizations that are assisting
community residents whose lives and homes were devastated by Superstorm Sandy. In addition to
serving as one of six members on CRC’s Steering Committee, we raised $150,000 for the Coalition to
hire its two full-time staff members: Noelle Kepler as Executive Director and David Louis as
Community Outreach Coordinator. Through the work of CRC, NHS of East Flatbush enabled 2,157
Canarsie residents to register with the City of New York’s Build-it-Back (BiB) program, which
provides grant funds to defray the cost of critical home repair projects that resulted from
Superstorm Sandy. According to reports prepared by the New York City Housing Recovery Office,
Canarsie had the largest number of residents who registered with BiB in all of Brooklyn’s impacted
communities.
To more effectively engage with families impacted by Sandy in Canarsie, NHS of East Flatbush
established a new satellite office at 9715 Avenue L—leveraging key funding provided by the Brooklyn
Community Foundation and NeighborWorks™America. We will also initiate a comprehensive gutrehabilitation of the building occupied by NHS of East Flatbush, to increase the space available for
operating their core programs and ensure accessibility by individuals living with physical
disabilities.
In 2013, NHS of Bedford-Stuyvesant (NHSBS) implemented a new Youth Leadership Program, with
primary focus on providing financial education to youth in our community, together with
D.R.E.A.M—a non-profit organization committed to empowering underrepresented, urban youth
throughout New York City. In 2014, we will collaborate with DREAM to conduct its specialized
financial literacy workshops for the children of our clients as well as local high school students,
which focus on the importance of: saving money, attaining goals, understanding entrepreneurship
and building assets.
In Queens:
During September 2013, we organized a Homeownership Fair at Public School 19 in Corona Queens,
which was sponsored by Councilwoman Julissa Ferreras and attended by 60 families who had an
opportunity to interact one-on-one with lawyers, tax preparers, insurance agents, contractors as well
as representatives from city and state agencies. In addition, NHS of Northern Queens disbursed
$50,000 in modest grants, which defrayed the cost of 12 critical modifications that enabled lowincome seniors to continue living independently in their own home—such as installing a wheelchair ramp on their front entranceway or widening an interior door-way to accommodate a wheelchair.
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In the Bronx:
As one key component of implementing the Wells Fargo CityLIFT program, we organized three
neighborhoods tours sponsored by JPMorgan Chase, on historic trolleys from the Bronx Tourism
Council. Through this work, we highlighted 30 homes available for purchase, including
condominiums, cooperative units and single-family properties. More than 55 prospective
homeowners attended these events.
In addition, Board members from our neighborhood offices in the North and South Bronx provided
participants with additional information about key NHSNYC services—while encouraging
prospective homeowners to become involved in their local neighborhood or block association as
well as the governing bodies of select condominiums and cooperative developments.
Given these successes, we organized other home tours in East Flatbush and Bedford-Stuyvesant as
one key element in effectively implementing our CityLIFT downpayment assistance program.
NHSNYC also looks forward to scheduling additional home tours throughout 2014, in strengthening
select partnerships with real estate developers and brokers in assisting clients become responsible
homeowners.
Critical Collaborations
As our most significant collaboration, we operate a satellite office in the headquarters of District
Council 37 (DC 37), New York City’s largest municipal employees union with 121,000 members.
Through this critical partnership, we help many low-to-moderate-income New York City residents who
work in essential public sector jobs become homeowners in New York City—such as: water system
workers, custodial assistants, lead abatement workers, associate urban park rangers, clerical associates,
nurse aides and crossing guards.
In addition, NHSNYC is a member of the Housing Partnership Network, which serves as a key
intermediary for one of our homeownership counseling programs, funded by the federal
Department of Housing and Urban Development. We are honored to collaborate with such a
prestigious organization in enhancing the services that NHSNYC provides to prospective
homeowners throughout New York City.
We also collaborate with 13 community-based organizations that provide housing counseling
services throughout the five boroughs, in administering our HomeFirst program—including: AsianAmericans for Equality, the Mutual Housing Association of New York City, Pratt Area Community
Council and Chhaya CDC. Our neighborhood office in Northern Queens works closely with the
Dominico-American Society in promoting key homeownership services to the community’s
substantial Hispanic population. In addition, our neighborhood office in Bedford-Stuyvesant
recently strengthened a critical partnership with Habitat for Humanity, which recently required that
all their new homeowners complete two NHSNYC programs: a 24-hour home maintenance training
and eight-hour home buyer education class.
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We continue to partner with Neighborhood Trust (NT), in enrolling our clients in their ten-hour
financial literacy program conducted at NHSNYC offices, while offering extensive individual
counseling support. Through this collaboration, NHSNYC also provides education and counseling
support to select Neighborhood Trust clients interested in responsibly achieving homeownership.
Finally, many of our NHS Neighborhood Offices are network members of the Center for New York
City Neighborhoods. The Center for New York City Neighborhoods launched in 2008 in an effort to
combat the local repercussions of the national mortgage crisis.
DEMOGRAPHICS
In 2013, the annual income of NHSNYC’s clients averaged $53,225—and 77% earned 80% or less
than the Area Median Income for our targeted communities.
We serve all New York City residents but focus our work with low-and-moderate-income families.
To achieve this goal, we operate offices in six communities characterized by significant poverty:
Bedford-Stuyvesant, East Flatbush, Canarsie, Northern Queens, the North Bronx and the South
Bronx. According to 2010 census data, our service area encompasses 26 community boards in New
York City with 3.7 million residents—of whom, 24% earn less than the federal poverty line and 13%
are unemployed.
In 2013, NHSNYC clients were: 44% Black/African-American, 26% Hispanic, 11% White, 6% Asian,
13% self-identifying as Other, 59% female, 41% male and 31% female headed households, as detailed
below:
The diversity of our clients creates a need to work within the context of each borough’s population,
which honors as well as reflects our understanding of racial, ethnic, income, orientation and other
differences.
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In addition, more than 1.43 million people live in the four zip codes where most clients of our five
neighborhood centers reside—of whom 43 percent were not born in the United States, including: 80,600
from Jamaica; 73,900 from the Dominican Republic; 36,400 from Trinidad and Tobago; 26,500 from
Ecuador; 25,300 from Haiti; and 17,200 from Colombia.
Within our targeted communities, nearly 25% of all residents are homeowners, which illustrates the
potential of moderate-income families to achieve the American dream. However, since this rate
ranges from 34% in Northern Queens to 6% in the South Bronx, the work of NHSNYC remains
critical to guiding more families through the entire process of responsibly acquiring and preserving
homeownership.
Evaluation
NHSNYC evaluates our progress in achieving all key program outcomes listed below, using a
comprehensive CounselorMax (CMax) database. With this tool, our staff records information about
the number of clients who receive NHSNYC services as well as their demographic and socioeconomic information. The work of NHSNYC strengthens CMax, which was developed by
NeighborWorks™America and is currently used by more than 200 community-based organizations
in all 50 states, to track the provision of services received by low-to-moderate income Americans.
Homeownership Outcomes
Provide individual homeownership counseling to a minimum of 750 prospective home buyers;
Help 700 low-to-moderate income individuals create a balanced household budget aligning
monthly expenses with available income;
Graduate at least 400 clients from our eight-hour home buyer education program; and
Enable a minimum of 300 families to become homeowners by facilitating at least $75 million in
affordable and fixed-rate mortgage financing, through our partner financial institutions.
Homeownership Preservation Outcomes
Provide foreclosure intervention services to 1,200 homeowners at-risk of foreclosure;
Avert at least 190 home foreclosures, by negotiating mortgage modifications and forbearance
agreements;
Graduate 100 clients in our home maintenance classes; and
Issue low-interest rehabilitation loans or grants to improve at least 200 housing units.
Each month, NHSNYC summarizes key information from CMax in a comprehensive Dashboard
report. Our executive leadership and senior managers review all Dashboard reports, to address any
specific programmatic or administrative challenges. Critical information from this Dashboard is also
presented during NHSNYC Board meetings. Through this work, we ensure that all Board members
learn about our progress toward achieving important organizational goals and have an opportunity
to provide feedback as well as initiate any necessary changes in the execution or strategic direction
of our work.
12
NHSNYC Annual Report
2013
Sustainability and Budget
In 2013, NHSNYC is excited to report achieving an operating surplus of $592,000, after
significantly reducing key operating expenses since 2008 in alignment with projected income.
Despite incurring a loss in 2012, we improved our operating financial position by $1.3 million,
compared with results from 2011. On the advice of our auditors, we created a reserve against a $1
million receivable recognized from NHS of Staten Island, in conjunction with their transition to an
independent non-profit organization. As a result, we incurred a $1.4 million reduction in net-assets
during 2012. Following a best practice in organizational governance, we issued a formal Request for
Proposals to complete our 2012 audit—after relying on the same firm during the ten previous years.
As a result of this process, we selected a new audit firm, Marks Paneth & Shron, LLP.
2013 NHSNYC Revenue
TOTAL OPERATING REVENUE 2013 w/o Pass Through Grants
Contributions - Foundations & Corporate
Government Grants*
Special Fundraising Events
Program Income
Loan Fund Income
Other Income
Housing Development
Total
$
$
$
$
$
$
$
$
1,838,923.00
1,834,661.94
222,426.00
2,338,574.00
570,468.00
190,812.00
645,952.00
7,641,816.94
*Includes Contracted Servises, NFMC and NWA Grants
Full Consolidated w/Pass Through Grants
Contributions
Government Grants
Special Fundraising Events
Program Income
Loan Fund Income
Other Income
Housing Development
TOTAL REVENUES
$
$
$
$
$
$
$
$
2,286,898.00
5,130,563.00
222,426.00
2,338,574.00
570,468.00
190,812.00
645,952.00
11,385,693.00
13
NHSNYC Annual Report
2013
2014 NHSNYC Budget Revenue Projections
TOTAL OPERATING BUDGET w/o Pass Thru Grants
2014 PROJECTED REVENUES
Contributions - Foundations & Corporate
Government Grants*
Special Fundraising Events
Program Income
Loan Fund Income
Other Income
Housing Development
Total
$
$
$
$
$
$
$
$
1,817,500.00
1,613,338.00
267,500.00
1,301,095.00
539,000.00
213,635.00
391,700.00
6,143,768.00
*Incl udes Contra cted Servi s es , NFMC a nd NWA Gra nts
Full Consolidated Budget w/Pass Thru Grants
Contributions
Government Grants
Special Fundraising Events
Program Income
Loan Fund Income
Other Income
Housing Development
TOTAL REVENUES
$ 2,265,475.00
$ 5,113,338.00
$
267,500.00
$ 1,301,095.00
$
539,000.00
$
213,635.00
$
391,700.00
$ 10,091,743.00
The NHSNYC Board of Directors approved a $9.5 million budget for 2014, which reflects a net surplus of
$21,000 and $3.5 million in pass-through grants for down-payment assistance.
While grants from corporations and foundations continue to represent an essential source of our annual
income, NHSNYC benefits from diversified revenue streams, including proceeds of operating a $19.2
million loan fund; re-developing neglected properties; securing public grants as well as providing
foreclosure intervention services and other targeted contracted services.
14
NHSNYC Annual Report
15
2013
NHSNYC Annual Report
16
2013
2013
NHSNYC Annual Report
Contributors
$100,000+
$20,000 - $1,000
Bank of America Charitable
Foundation
Brooklyn Community Foundation
Center for New York City
Neighborhoods
Citi
Fannie Mae
JPMorgan Chase Foundation
LISC-New York
National Foreclosure Mitigation
Counseling Contract
NeighborWorks™America
New York City Department of
Housing Preservation and
Development
New York State Attorney General’s
Office
New York State Homes and
Community Renewal
Alma Bank
American Express
Apple Bank for Savings
Atlantic Business Products
Bank Hapoalim
Bank Leumi USA
Bank United
Bank of Baroda
Bank of China
Bank of East Asia
Bank of India
BBCN Bank
Bernell K. Grier
Broadview Networks
Broadway National Bank
Brooklyn Real Property
Carver Federal Savings Bank
Charitable Trust
Chinatown Federal Savings Bank
ChinaTrust Bank
Citizens International Realty, LLC
City National Bank
Customers Bank
David Fry
Delta National Bank
Emigrant Mortgage Company
First Republic Bank
Flushing Bank
Frontier Foreclosures Realty, LLC
Gina Doynow
Goldman Sachs Bank USA
Howard Bluver
Hyde and Watson Foundation
Interaudi Bank
Investors Foundation
Jimmy and Pia Zankel
Marjorie Faison
Mark Willis
Mercantil Commerce Bank
Mizuho Bank, Ltd
Mutual of America
Newmark Grubb Knight Frank
New York Bankers Association
$99,000 - $50,000
Deutsche Bank Americas Foundation
Freddie Mac
HSBC Community Development
MetLife Foundation
Morgan Stanley
New York City Housing and
Neighborhood Recovery Donors
Collaborative
The Altman Foundation
TD Bank
Wells Fargo Foundation
$49,999 - $20,000
Amalgamated Bank
Bank of New York Mellon
BTMU Foundation
Capital One
Con Edison
Dime Savings Bank of Williamsburgh
Housing Partnership Network
M&T Charitable Foundation
The Hagedorn Fund
Travelers Foundation
17
New York State Energy Research
and Development Authority
Promontory Financial Group, LLC
Provident Savings Bank
Ridgewood Savings Bank
Rose M. Badgeley Residuary
Safra National Bank of New York
Schulte, Roth & Zabell LLP
Signature Bank
Solberg Campbell and Associates
Sovereign Bank
State Farm
Sterling Bank
The Ludwig Family Foundation
Toni Martin
Tydas
Unique Homes Realty
Victor Vega
Wolters Kluwer Financial Services
$1,000 and under
AAA Gourmet Deli
Account Temps
Frank D. Acquino
K. Afram
Stephanie Afum
R. Albafunez
Jm. Alexandre
Lynn Roche Alley
Audra Amorer
Catherine Arline
Tint Tin and Leo Aurielio
A Joseph Balkan, Inc.
Gladys Beague
Pat and Martin Bernstein
Sheila Blanchard
Allen Blitz
H. Bracero
Rose Ann C. Buckmire
E. Butts Realty Corp
Raul Camacho
C. Cassangnol
Century 21 Metro Star Corp.
S. Clark
NHSNYC Annual Report
B. Collins
C. Corbin
Crowley for Congress
Curtis Block Associates
Richard Deosingh
Pathe Diope
S. Durando
James Durrah
Element 9 LLC
Elmhursts Corona Associates
J. Estrella
M. Estrella
R. Etkins
Exit Realty Genesis
Exist Reality Success
Future Construction Corp
Group Research Group
Hector Fernandez
H&N Insurance Agency and Financial
Group
Fifth Avenue Committee
Flanbwayan Haitian Literacy Project
Dorothy Friel
L. Garcia
Roy Gibbs
John Gillespie
K. Glover
Dr. Eric Goldbarb
Thomas Goldberg
Franklin Golding
L. Green
Marguerite Greene
Peter Greene
GVG Contracting Corp
Y. Harding
Paul Hawthorne
S. Hazari
Rosa Hernandez
Dr. and Mrs. Kenneth Holwitt
Chermaine Hu
Susan M. Ifill
Lynell James
JMT Consulting
Kimberly Johnson
K. Johnson-Toure
Howard Jones
Jayant Kairam
Chris Kui
W. Lambert
Angela Lashley
Thomas Lauro, Esquire
John Lavin
Grace Lawrence
Arturo Le-Grand
Miranda Le-Grand
Robert Lehrman
B. Lewis
J. Lewis
W. Lopez
Ken Marable
Patricia Martin
Kevin Matent
Mateo Grocery
Matrix Real Estate Group, LLC
E.D. McCormick
LC McDougald
Lucille L. McEwen
F. Medina
Margarete M.H.
Gerard Miller
M. Montague
Imogene Morgan
Municipal Credit Union
Tory Netto
New York State Energy Audits, Inc.
NHS of Staten Island
Timothy P. and Lydia C. Nugent
Jacqueline O’Garrow
Tonya Ores
Jim Paull
Albert Payne
Mark Podgainy and Lisa J. Usdan
Darrell Prinsell
Margaret R.
Witold Rak
R&M Repairs and Maintenance, Inc
S.P. Ramos
Regal Construction New York Corp
Alfonso Reyes
E. Rez
Lesley Richardson
Rick Roberto
18
2013
R. Rivera
Wasserman Grubin Rodgers, LLP
Ameena Rodriguez
Ana Rodriguez
Angelina Rodriguez
Marc Rodriguez
Madeline Roman
Manny Weiss and Cyd Rosenberg
A. Ruiz
Ryan Walsh & Associates, PLLC
Susan Safire
Sally Love Associates, Inc.
Gloria Sandiford
Jeffrey Schanback
Louis Schwartz
Reginald and Sheryl A. Shell
Erik Shumar
William Smith
V. Springer
Steller Management
Torrance Stuart
Adam Sutton, Esquire
Tari Restoration, Inc.
The Corona Self-Help Center, Inc.
Byron Todman
TriNet
Richard Trouth
Urban Health Plan, Inc.
T. Walker
C. Williams
R. Wilson
D.S. Wright
Julie Zellat
2013
NHSNYC Annual Report
Boards
NHSNYC Board of Directors
Erik P. Shumar
President
Runie Mensche
Vice President
Jeffrey Charles-Pierre
Secretary
Donald E. Tom
Treasurer
Helen Arteaga
Monica Berry
Edward S. Butts
Hala Farid
David Fry
Scott Gold
Robert Hall
Paul Hawthorne
Chermaine Hu
Deborah Johnson
Jayant Kairam
Matthew Leber
Jessica m. Leonard
Lois Locke
Susan Mendoza
Jacqueline O’Garrow
Albert Payne
Mark D. Podgainy
Raymond Rivera
Richard J. Roberto
NHS Past President
ADVISORY BOARD
David S. Bagatelle
Jeffrey Barker
Bank of America
Howard Bluver
Lloyd R. Brown, III
Citi
John Buran
Flushing Savings Bank, FSB
Mark Castle
Bank of New York Mellon Corporation
Ashok Kumar Garg
Bank of Baroda
Christine Cumming
Federal Reserve Bank of New York
Gina Doynow
Louann Green
PHH Mortgage
Barry Goodman
Newmark Realty
Edward Kramer
Wolters Kluwer Financial Services
Robert Lehrman
USICG
Eugene A. Ludwig, Esq.
Promontory Financial Group, LLC
Cathie Mahon
National Federation of
Community Development
Credit Unions
Patrick McEnerney
Deutsche Bank
Lydia Nugent
MetLife
Marie Pedraza
HSBC Bank/USA National
Association
Dionne H.E. Polite
AARP
Mariadele Priest
Capital One Bank
Erik P. Shumar
UBS Bank USA
Michael Smith
NYS Bankers Association
Mark A. Willis
NYU Furman Center
NEIGHBORHOOD BOARDS
NHS of Bedford Stuyvesant,
Inc.
Jeffrey Charles-Pierre, President
Catherine Arline
Marguerite Bhola
Brena Bracy-Seals
Shaniqua Carter
James C. Durrah
Sundra Franklin
Paul G. Hawthorne
Tory Netto
Christine Parker
Gloria D. Sandiford
Reginald D. Shell
NHS of East Flatbush, Inc.
Lois Locke, President
Vernon Deane
Brigid DeRosa
Marjorie Faison
Hazel Foster
Leon Hosang
Zenobia McNally
Michael Minott
Larry Pampellone
Albert Payne
Wayne Turner
19
NHS of the North Bronx, Inc.
Susan Mendoza, President
Joseph Bacote
Monica Berry
Robert Hall
Adrienne Jones
NHS of Northern Queens, Inc.
Runie Mensche, President
Juan Acosta
Helen Arteaga
Edward Butts
Corey Dearr
Maria Fierro
Cesar Garcia
Oswaldo Guzman
Grace Lawrence
John Lavin
Lynda McDougald
Witold M. Rak
Rev. Mitchell G. Taylor
Shanel Thomas
Ryan Walsh
NHS of the South Bronx
Raymond Rivera, President
Jose Cruz
Alex D. Fernandez
Deborah L. Johnson
Lucia Tejada
NHS Housing Development Fund Corporation;
NHS Community Development Corp.
NHS Citywide HDFC
Reginald Shell, President
Susan Attz-Mendoza
Diane Borradille
Bernell Grier
Dahlia Gutierrez
Louis Kilkenny
Frank Korzekwinski
Jessica M. Leonard
Runie Mensche
Robert Tyrrell
2013
NHSNYC Annual Report
Staff
NHS of NEW YORK CITY
Executive Management
Bernell Grier
Chief Executive and Development Officer
Susan Ifill
Chief Operating and Financial Officer
Raiza Martinez
Executive Director,
NHS of the South Bronx, Inc.
Jose Oscar Morillo
Executive Director,
NHS of the North Bronx, Inc.
Tonya Ores
Senior Executive Director,
NHS of East Flatbush, Inc.
Raul Camacho
IT Manager
Kevin Washington
Program Manager
Pamela Cherry
Project Manager
NHS of EAST FLATBUSH
Yvonne Ferran
Program Manager, Lending
Services
Danielle Freire
Fundraising Specialist
Janet Hill
Program Manager, Lending
Services
Emily Jimenez
Mortgage Loan Servicer
Richard Trouth
Executive Director,
NHS of Bedford-Stuyvesant, Inc.
Rashidat Jimoh
Accountant
Ygmar Wiel
Executive Director,
NHS of Northern Queens, Inc
Gloria LaSalle
Program Coordinator, Research
and Planning
Senior Management
Ann Murray
Administrative Assistant,
Administration
Rey Cruz
Loan Portfolio Manager
Janelle Greene
Director of Government & Community
Relations
Louis Kilkenny
Director of Lending &
Program Services
Ermine McLawrence
Director of Human Resources
Elizabeth Malone
Program Director
Insurance & Resilience
Parvez Mushtaq
Controller
Jeffrey Schanback
General Counsel
Byron Todman
Director of Housing Development
Nicole Pritchard
Director of Research & Planning
Stuart Schneider
Program Director, Grants
Madeline Roman
Administrative Assistant
Patricia Primo
Program Director, Program
Services
Vidyawatie Rambahal
Accountant
Christopher Rodriguez
Accountant
Angella Cummings
Program Director
Angella Davidson
Program Manager
Rodney Grierson
Program Manager
Kimberly Henry
Administrative Assistant
Noel Kepler
Project Manager
Resiliency
David Louis
Community Outreach Coordinator
Tyrone McDonald
Marketing Coordinator
Richard Rosario
Construction Project Manager
Lorraine Seabrook-Fisher
Loan Officer
Sandra Tanner
Homeownership Counselor
Luz Torres
Program Assistant
NHS of the NORTH BRONX
Maria Serrano
Accountant
Christina Andeliz
Loan Officer
Samuel Ward
Loan Originator
Gloria Ashby
Program Manager
LiPing Yu
Sr. Project Manager, Construction
Services
Masanna Johnson
Homeownership Counselor
NHS of BEDFORD-STUYVESANT
Jimmy Vicars
Program Assistant
Courtney Corbin
Foreclosure Intervention Counselor
NHS of NORTHERN QUEENS
Miriam Inesia Martin
Program Coordinator
Spencer Craig
HMT Instructor
Gerard Miller
Community Outreach Coordinator
Barbina M. Marcell
Program Assistant
Andrew Morales
HMT Instructor
Daniel Padilla
HMT Instructor
20
NHSNYC Annual Report
Donneil Reed-Harris
Homeownership Counselor
Sandra Reyes
Administrative Assistance
Coefield Trotman
HMT Instructor
Darryl Washington
Program Manager
NHS of the SOUTH BRONX
Dawilsa Pena
Administrative Assistant
Dolores Pena
Program Coordinator
Erica Rosado
Homeownership Counselor
NeighborWorks® Homeownership Center
Samantha Mathurin
Program Manager,
NHSNYC
Ruth E. Pena
Homeownership Counselor, DC 37
Noemi Vega
Homeownership Counselor
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2013
NHSNYC Annual Report
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22
2013
NHSNYC Annual Report
2013
Neighborhood Housing Services of New York City, Inc.
307 West 36th Street, 12th Floor
New York, NY 10018
212-519-2500
Neighborhood Housing Services of Bedford-Stuyvesant, Inc.
1012 Gates Avenue
Brooklyn, NY 11221
718-919-2100
NHSNYC District 37 Satellite Office
125 Barclay Street
5th Floor
New York, NY 10007
212-815-1000
Neighborhood Housing Services of East Flatbush, Inc.
2806 Church Avenue
Brooklyn, NY 11226
718-469-4679
NHSEF Canarsie Satellite Office
9715 Avenue L
Brooklyn, NY 11236
718-469-4679
NHSNYC NeighborWorks-Homeownership Center
306 West 37th Street, 12thFloor
New York, NY 10018
718-230-7610
Neighborhood Housing Services of the North Bronx, Inc.
1451 East Gun Hill Road
Bronx, NY 10469
718-881-1180
Neighborhood Housing Services of Northern Queens, Inc.
60-20 Woodside Avenue, 2nd Floor
Woodside, NY 11377
718-457-1017
Neighborhood Housing Services of the South Bronx, Inc.
848 Concourse Village West
Bronx, NY 10451
718-992-5979
23