Organizations Filed Purposes:
NYCFNAC WAS ESTABLISHED IN 1999 TO PROMOTE ACCESS BY LOW-INCOME PERSONS IN NEW YORK CITY TO AFFORDABLE, CONVENIENT AND COMPREHENSIVE FINANCIAL SERVICES AND CREDIT BY CONNECTING THIS POPULATION WITH NEW YORK CITY'S LEADING COMMUNITY DEVELOPMENT CREDIT UNIONS AND STRENGTHENING THEIR CAPACITY THROUGH NYCFNAC'S OPERATIONAL, FINANCIAL AND TECHNICAL ASSISTANCE.
TO PROMOTE THE OPPORTUNITY OF LOW-INCOME RESIDENTS OF NEW YORK CITY TO GAIN ACCESS TO AFFORDABLE, CONVENIENT AND COMPREHENSIVE FINANCIAL SERVICES AND CREDIT AND TO BECOME MORE KNOWLEDGEABLE CONSUMERS OF FINANCIAL SERVICES.
SINCE 2004 NYCFNAC HAS BEEN A SPONSOR OF THE VOLUNTEER INCOME TAX ASSISTANCE (VITA) PROGRAM, WHICH PROVIDES LOW-INCOME TAXPAYERS WITH FREE, HIGH QUALITY TAX PREPARATION. THE PROGRAM SERVES AS AN ALTERNATIVE TO THE HIGH FEES AND OFTEN PREDATORY SERVICES OF COMMERCIAL TAX PREPARATION FIRMS. BY LOCATING VITA SITES WITHIN THE LOW-INCOME COMMUNITIES SERVED BY COMMUNITY DEVELOPMENT CREDIT UNIONS, THE VITA PROGRAM CAN OFFER TAXPAYERS THE OPPORTUNITY TO SAFELY AND QUICKLY RECEIVE THEIR TAX REFUND AT A CREDIT UNION THROUGH DIRECT DEPOSIT. THIS CONNECTION TO A FINANCIAL INSTITUTION THAT OFFERS AFFORDABLE FINANCIAL SERVICES PROMOTES THE OPPORTUNITY FOR LOW-INCOME HOUSEHOLDS TO SAVE, BUILD FINANCIAL ASSETS, GET ACCESS TO HIGH-QUALITY CREDIT, GAIN MONEY MANAGEMENT SKILLS, AND MOVE INTO THE FINANCIAL SERVICES MAINSTREAM. VITA ENSURES THAT THESE HOUSEHOLDS RECEIVE ALL OF THEIR ELIGIBLE TAX CREDITS, INCLUDING THE EARNED INCOME TAX CREDIT, WHICH ELEVATES FAMILIES ABOVE THE FEDERAL POVERTY LINE. DURING THE YEAR, THE PROGRAM PREPARED 12,376 RETURNS FOR 11,264 INDIVIDUAL FILERS AND RETURNED $18.9 MILLION IN TOTAL REFUNDS ON THEIR BEHALF. THE PROGRAM ALSO PROVIDES SUCH ANCILLARY SERVICES AS SCREENING FOR PUBLIC BENEFITS, SUCH AS SNAP (FOOD STAMPS) AND MEDICAID. THOSE HOUSEHOLDS FOUND PRELIMINARILY ELIGIBLE FOR BENEFITS RECEIVE FOLLOW UP INTENSIVE SCREENING AND ENROLLMENT ASSISTANCE BY NYCFNAC'S BENEFIT ENROLLERS.
NYCFNAC PROVIDED SEVERAL OF THE CITY'S LEADING COMMUNITY DEVELOPMENT CREDIT UNIONS WITH ACCOUNTING, INTERNAL AUDITING AND REGULATORY COMPLIANCE ASSISTANCE TO PROMOTE THEIR FINANCIAL SOUNDNESS. THESE SERVICES ENSURE THE ACCURACY OF THEIR FINANCIAL RECORDKEEPING AND REPORTING. IN ADDITION, NYCFNAC WORKS CLOSELY WITH THE CREDIT UNIONS' SUPERVISORY COMMITTEES, WHICH ARE CHARGED WITH MAINTAINING THE FISCAL INTEGRITY OF THE CREDIT UNIONS THROUGH A PROCESS OF INTERNAL CHECKS AND BALANCES.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Peter Bray | EXECUTIVE DIRECTOR AND BOARD SECRETARY | 50 | $87,148 |
| Andrea Gildea | DIRECTOR | 1 | $0 |
| Peter Wild | DIRECTOR | 1 | $0 |
| Boriana Tchobanova | DIRECTOR | 1 | $0 |
| Mark Malaspina | ASSISTANT SECRETARY | 1 | $0 |
| Thomas Morin | TREASURER | 2 | $0 |
| Bradford Kirby | BOARD CHAIR | 2 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/201540839349300704_public.xml