Long Island Housing Partnership Inc
- Assets
- $10.9m
- Revenue
- $4.0m
- Investments
- $1.3m
- Employees
- 32
- Location
- Hauppauge, NY
- Founding
- 12/1988
- Data as of
- 12/2023
- EIN
- 11-2889068
Organization Overview
Long Island Housing Partnership Inc is located in Hauppauge, NY. The organization was established in 1988. According to its NTEE Classification (L01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Long Island Housing Partnership Inc employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Long Island Housing Partnership Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Long Island Housing Partnership Inc generated $4.0m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $4.4m during the year ending 12/2023. While expenses have increased by 3.2% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE HOUSING OPPORTUNITIES ON LONG ISLAND, FOR THOSE UNABLE TO AFFORD HOMES, THROUGH DEVELOPMENT, TECHNICAL ASSISTANCE, MORTGAGE COUNSELING, HOMEBUYER AND FAIR HOUSING EDUCATION AND LENDING PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIHP CONTINUED TO ADMINISTER SEVERAL COVID-RELATED PROGRAMS DURING 2023, AIDING 631 TENANTS, LANDLORDS AND HOMEOWNERS NEGATIVELY IMPACTED BY THE COVID-19 CRISIS, INCLUDING: O TOWN OF BROOKHAVEN CDBG-CV MORTGAGE & RENTAL ASSISTANCE PROGRAM O TOWN OF HEMPSTEAD EMERGENCY RENTAL ASSISTANCE PROGRAM O TOWN OF OYSTER BAY EMERGENCY RENTAL ASSISTANCE PROGRAM O HOUSING STABILITY COUNSELING PROGRAMS (CONTINUED ON SCHEDULE O)
LIHP, IN PARTNERSHIP WITH THE SUFFOLK COUNTY LAND BANK (SCLB), REHABILITATES PREVIOUSLY-FORECLOSED HOMES UTILIZING FUNDS PROVIDED TO THE SCLB BY THE NEW YORK STATE ATTORNEY GENERAL'S OFFICE. ONCE RENOVATED, HOMES ARE SOLD TO HOMEBUYERS WHO MET SPECIFIC INCOME ELIGIBILITY REQUIREMENTS AND WOULD NOT OTHERWISE HAVE BEEN ABLE TO AFFORD A NEW HOME IN THE MARKET PLACE. LIHP REHABILITATED ONE HOME AND SOLD ONE HOME IN 2023.
LIHP PROVIDES TECHNICAL ASSISTANCE SERVICES TO FOR-PROFIT AND NONPROFIT DEVELOPERS, AND MUNICIPALITIES. SERVICES INCLUDE, BUT ARE NOT LIMITED TO THE FOLLOWING, ALL OF WHICH RELATE TO THE DEVELOPMENT OF AFFORDABLE RENTALS OR SINGLE-FAMILY HOMES: RESEARCH AND ADVICE ON PROGRAM AND FUNDING REQUIREMENTS, ASSISTANCE WITH THE DEVELOPMENT OF BUDGETS, PROGRAM GUIDELINES AND RELATED FORMS, COORDINATION OF MARKETING, PRESCREENING OF HOMEBUYERS/RENTERS, GRANT WRITING FOR PUBLIC SUBSIDY, MONITORING THE DEVELOPMENT PROCESS, ASSISTANCE WITH THE CONTRACT AND CLOSING PROCESS, ACTING AS LIAISON BETWEEN DEVELOPERS AND MUNICIPALITIES, AND MONITORING AND COMPLIANCE WITH FUNDING GUIDELINES BEFORE AND AFTER CLOSING. (CONTINUED ON SCHEDULE O)
LONG ISLAND HOUSING PARTNERSHIP, INC. (LIHP) RECEIVES GRANTS AND CONTRACTS TO COUNSEL FIRST TIME HOMEBUYERS THROUGH THE PROCESS OF HOME BUYING, AND COUNSEL FAMILIES AND INDIVIDUALS IN DEFAULT ON THEIR MORTGAGES AND FACING FORECLOSURE ON THEIR HOMES. IN 2023, LIHP'S HUD-CERTIFIED COUNSELORS MET WITH AND PROVIDED INDIVIDUALIZED, PRE-PURCHASE COUNSELING TO 1,125 FIRST- TIME HOME BUYERS, COVERING EVERY ASPECT OF THE HOME BUYING PROCESS, FROM BUDGETING, FAIR HOUSING EDUCATION, SAVINGS OF ASSETS, AND THE IMPORTANCE OF MAINTAINING GOOD CREDIT, TO HOUSE HUNTING, AND OBTAINING A MORTGAGE. OF THOSE COUNSELED 18 RECEIVED MORTGAGE COMMITMENTS AND PURCHASED HOMES. IN ADDITION, 35 CLIENTS WERE COUNSELED FOR DEFAULT/FORECLOSURE PREVENTION AND 748 CLIENTS RECEIVED FAIR HOUSING TRAINING AND EDUCATION IN 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter J Elkowitz Jr President / | Officer | 25 | $349,937 |
James Britz Exec. VP / C | Officer | 25 | $241,407 |
Jill Rosen-Nikoloff Cco/general | Officer | 25 | $181,436 |
Valerie Canny CFO | Officer | 25 | $177,123 |
Martha Abrams Director (in | Trustee | 0.1 | $0 |
Scott Bronson Director (in | Trustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kmc Innovative Technologies Inc It Services | 12/30/22 | $161,481 |
Leadership Training Institute Inc Client Assistnc | 12/30/22 | $222,043 |
Xiacon Inc It Services | 12/30/22 | $134,633 |
Robert Half Client Assistnc | 12/30/22 | $214,378 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $34,000 |
| Fundraising events | $67,040 |
| Related organizations | $0 |
| Government grants | $2,000,707 |
| All other contributions, gifts, grants, and similar amounts not included above | $450,739 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,552,486 |
| Total Program Service Revenue | $906,547 |
| Investment income | $27,612 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$33,880 |
| Net Income from Fundraising Events | -$16,150 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,030,812 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,047,108 |
| Compensation of current officers, directors, key employees. | $390,913 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,382,874 |
| Pension plan accruals and contributions | $51,795 |
| Other employee benefits | $333,713 |
| Payroll taxes | $157,910 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,713 |
| Fees for services: Accounting | $80,240 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,701 |
| Fees for services: Other | $639,347 |
| Advertising and promotion | $27,624 |
| Office expenses | $139,571 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $149,425 |
| Travel | $12,224 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,588 |
| Interest | $584 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $123,503 |
| Insurance | $80,511 |
| All other expenses | $0 |
| Total functional expenses | $4,368,807 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,249,967 |
| Savings and temporary cash investments | $2,818,416 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $697,796 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $39,127 |
| Net Land, buildings, and equipment | $140,721 |
| Investments—publicly traded securities | $4,054,694 |
| Investments—other securities | $1,262,133 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $590,145 |
| Total assets | $10,852,999 |
| Accounts payable and accrued expenses | $724,362 |
| Grants payable | $0 |
| Deferred revenue | $112,124 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,623,436 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,585,516 |
| Total liabilities | $6,045,438 |
| Net assets without donor restrictions | $4,028,417 |
| Net assets with donor restrictions | $779,144 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $10,852,999 |
Grants Awarded
Over the last fiscal year, Long Island Housing Partnership Inc has awarded $52,704 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
LI PARTNERSHIP HSNG DEV FUND CO INC PURPOSE: AFFORDABLE HOUSING | $40,121 |
LI PARTNRSHP CLT HSNG DEV FUND CO PURPOSE: AFFORDABLE HOUSING | $5,181 |
NASSAUSUFFOLK PARTNERSHIP HDFC INC PURPOSE: AFFORDABLE HOUSING | $7,402 |