Community Capital New York, Inc.
Programs and results
What we aim to solve
Community Capital's programs are designed to break down the economic barriers that traditionally underserved individuals and low-wealth communities face such as: limited access to capital, a shortage of small business education and counseling, and few affordable housing options so that all residents can be stakeholders in a more inclusive economy.
Our programs
What are the organization's current programs, how do they measure success, and who do the programs serve?
Small Business Loan Program
Community Capital's Small Business Program is designed to foster economic opportunity for low-to-moderate income, women, and entrepreneurs of color. By providing access to innovative loans, technical assistance and one-on-one consulting, Community Capital works with its clients to identify the best set of solutions for each individual business owner to improve operational outcomes, create quality jobs and ultimately promote stronger, more prosperous local neighborhoods. Small businesses and start-up enterprises can qualify for small business ($1,000-$250,000), credit builder and line of credit loans. Borrowers also receive free, ongoing financial coaching, individual consulting and business training to promote sustainable results. To date Community Capital has extended over $6 million in loans to over 275 businesses. Furthermore, it delivers over 5,000 hours of business training to its pre- and post-loan clients annually.
Affordable Housing Lending Program
Recognizing that housing is part of the essential infrastructure needed for vibrant economies and strong communities, Community Capital's Housing Program supports the creation and preservation of affordable homes for those who live and work in our region. Community Capital extends predevelopment loans and other gap financing to developers so they can ultimately catalyze the investment of longer term capital needed to create these affordable homes. Engineering and environmental studies, appraisals, survey and consulting services are just some examples of the projects we fund so our workforce, our seniors and our millennials have access to safe, affordable housing option. Community Capital also works closely with developers, municipalities and other economic development organizations to investigate, synthesize information and create local solutions to meet the varied housing needs throughout the different neighborhoods in our footprint.
Where we work
Awards
Stanley Schear Leadership Award 2013
Stanley Schear
Outstanding Advocate for Small Business 2014
914 Inc. Magazine
Spirit of Westchester & Putnam Award 2010
United Way of Westchester & Putnam
External reviews
Our results
How does this organization measure their results? It's a hard question but an important one.
Number of hours of training
This metric is no longer tracked.Totals By Year
Population(s) Served
Women and girls, Ethnic and racial groups, Economically disadvantaged people
Related Program
Small Business Loan Program
Type of Metric
Output - describing our activities and reach
Direction of Success
Increasing
Total dollars loaned to businesses
This metric is no longer tracked.Totals By Year
Population(s) Served
Women and girls, Ethnic and racial groups, Economically disadvantaged people
Type of Metric
Output - describing our activities and reach
Direction of Success
Increasing
Goals & Strategy
Learn about the organization's key goals, strategies, capabilities, and progress.
Charting impact
Four powerful questions that require reflection about what really matters - results.
What is the organization aiming to accomplish?
As a nonprofit, mission driven lender, Community Capital New York's organizational goal is to use capital creatively to foster economic development, business growth, job creation and the availability of affordable homes. We believe that these investments create a path to prosperity and financial independence for traditionally underserved entrepreneurs as well as improve the quality of life in low-wealth communities. Most of our Small Business clients are low-to-moderate income women and/or persons of color business owners who all too often lack access to conventional bank financing due to factors such as lower credit scores, less time in business and/or lack of collateral. The program aims to address all of these challenges by applying flexible and innovative underwriting standards as well as free pre and post loan business training programs, business plan review, financial guidance and one-on-one coaching so businesses can improve operational outcomes, create jobs and add to the economic vitality of neighborhoods. In the housing arena, Community Capital New York knows that homes are the anchor for family life and that the quality of one’s housing is an important determinant of health and economic outcomes. In fact, research shows that when housing needs are appropriately met, children are more likely to be healthy and perform well in school and parents are more likely to be productive members of a strong workforce. By working with for-profit and other nonprofit developers, Community Capital New York aims to provide the catalytic capital needed to create and preserve safe, affordable housing options which remains one of the most daunting economic and social challenges in the Hudson Valley.
What are the organization's key strategies for making this happen?
Community Capital New York employs a variety of strategies in order to achieve its goals, connect with its target markets and remain nimble so it can respond effectively to changing market and client needs. For 32 years, our strategy has been to work with nonprofit and for-profit developers, government agencies and other economic development organizations to fill the gap in the financial marketplace for creating affordable homes. Community Capital stands ready to provide low cost, often unsecured predevelopment loans to fund site surveys, engineering and environmental studies, appraisals, and consulting services -- all with an eye toward catalyzing further investment. By working closely and collaborating with our partner organizations, since inception we have extended over $25 million in low cost loans to foster the creation of over 5,500 affordable homes for more than 12,000 area residents who earn 80% or less of the area median income.
In 2003 Community Capital expanded operations and began offering small business loans. To date we have extended over $11.5 million to more than 480 small businesses in the Hudson Valley. The main goal of the Small Business Program is to identify the best set of solutions for each individual business owner to improve business outcomes. To achieve this goal, our strategy is to offer a comprehensive suite of services including English and Spanish language pre-loan credit and business training (access to capital, workshops, webinars, training sessions and one-on-one technical assistance and business coaching), access to small business loans and lines of credit as well as free ongoing business advisory services and one on one consulting for all of our borrowers. In fact, last year Community Capital New York delivered over 5,000 hours of technical assistance. We know our approach works. The combination of loans paired with business education programs has allowed Community Capital's clients to report a four-year business survival rate of 87% compared to the SBA reported average of 50%. Similar to the affordable housing program, a major element of the Small Business Program relates to ongoing outreach, marketing and the forging of relationships with many community stakeholders. We invest considerable time and resources to establish essential partnerships, collaborations and overall connections with municipal leaders, community groups, faith-based organization, and other economic development organizations to achieve collective impact and meet the needs of our target markets: low to moderate income, women and/or entrepreneurs of color.
What are the organization's capabilities for doing this?
For 32 years the staff and leadership of Community Capital has demonstrated the technical, financial, programmatic and managerial skills to successfully implement its mission. Today it is the only Community Development Financial Institution operating in seven counties throughout the low-mid Hudson Valley providing both affordable housing loans as well as a full continuum of services for traditionally underserved business owners in both English and Spanish (all Community Capital loan officers and business education professionals are bi-lingual). In 2022 alone CCNY disbursed over $4.3 million of flexible capital along with over 5,000 hours of business training.
What have they accomplished so far and what's next?
Community Capital New York is proud of it's 32 year history. Since inception we have extended over $25 million in loans that have led to the creation of 5,500 units of affordable housing for 12,000 area residents who earn 80% or less of the area median income, over 5,500 jobs and well over $10 million in tax revenue for our local municipalities. In addition, we continue to improve our outreach, deliver even more customized business advisory services and develop newer, innovative loan products for some of our most vulnerable populations.
In 2022 we disbursed over $4.4 million of flexible capital to small businesses and developers of affordable homes. Over 75% of our clients were low to moderate income, women and/or entrepreneurs of color, or residents. And more than 50% of our small business borrowers were start-up enterprise. We amped up our small business training programs by providing over 5,500 hours of guidance, support and structured coursework to nearly 1,000 entrepreneurs and we continue to deepen our work in the northern and western regions of the Hudson Valley.
How we listen
Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.
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How is your organization using feedback from the people you serve?
To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To strengthen relationships with the people we serve, To understand people's needs and how we can help them achieve their goals
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Which of the following feedback practices does your organization routinely carry out?
We collect feedback from the people we serve at least annually, We take steps to get feedback from marginalized or under-represented people, We aim to collect feedback from as many people we serve as possible, We look for patterns in feedback based on demographics (e.g., race, age, gender, etc.), We engage the people who provide feedback in looking for ways we can improve in response, We act on the feedback we receive
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What challenges does the organization face when collecting feedback?
It is difficult to get the people we serve to respond to requests for feedback
Financials
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Operations
The people, governance practices, and partners that make the organization tick.
Connect with nonprofit leaders
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- Analyze a variety of pre-calculated financial metrics
- Access beautifully interactive analysis and comparison tools
- Compare nonprofit financials to similar organizations
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Connect with nonprofit leaders
SubscribeBuild relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. Try a low commitment monthly plan today.
- Analyze a variety of pre-calculated financial metrics
- Access beautifully interactive analysis and comparison tools
- Compare nonprofit financials to similar organizations
Want to see how you can enhance your nonprofit research and unlock more insights? Learn More about GuideStar Pro.
Community Capital New York, Inc.
Board of directorsas of 01/20/2024
Mr. William Merz
Bankwell
Term: 2020 - 2024
Richard Hecht
Audubon Consulting Group LLC
William Merz
Bankwell
Robert Greene
GS Associates, LP
Yvette Wynn
Morgan Stanley Private Bank, N.A.
Amanda Kelso
TD Bank
Neil Alexander
Cuddy & Feder LLP
Vladimer Ortega
Sterling National Bank
Edward Quinn
Morgan Stanley Private Bank, N.A.
M. John Constable
Con Edison of NY
Alexandra Hanson
Avante Contracting Corp.
Anderson Mitchell
Morgan Stanley Private Bank
Richard St. Paul, Esq.
Law Offices of Richard St. Paul, Esq., PLLC
H. Philip Salmon
Aman Public Charter School
Glen Vetromile
Hudson Park Group LLC
Board leadership practices
GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.
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Board orientation and education
Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes -
CEO oversight
Has the board conducted a formal, written assessment of the chief executive within the past year ? No -
Ethics and transparency
Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes -
Board composition
Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes -
Board performance
Has the board conducted a formal, written self-assessment of its performance within the past three years? No
Organizational demographics
Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.
Leadership
The organization's leader identifies as:
Race & ethnicity
Gender identity
Transgender Identity
Sexual orientation
Disability
We do not display disability information for organizations with fewer than 15 staff.
Equity strategies
Last updated: 01/20/2024GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more
- We review compensation data across the organization (and by staff levels) to identify disparities by race.
- We use a vetting process to identify vendors and partners that share our commitment to race equity.
- We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
- We have community representation at the board level, either on the board itself or through a community advisory board.
- We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.