Town Of Islip Housing Development Corporation is located in Oakdale, NY. The organization was established in 2004. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Town Of Islip Housing Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE TOWN OF ISLIP HOUSING DEVELOPMENT CORP WAS FORMED TO ASSIST IN EXPANDING AFFORDABLE HOUSING CHOICES AND OPPORTUNITIES TO LOW INCOME RESIDENTS OF THE TOWN OF ISLIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ACQUIRE, CONSTRUCT AND PROVIDE AFFORDABLE RENTAL PROPERTY AND AFFORDABLE HOUSING INITIATIVES USED IN CONJUNCTION WITH VARIOUS PROGRAMS, SUCH AS THE SECTION 8 HOUSING CHOICE VOUCHER PROGRAM, AND TO ESTABLISH AND PROVIDE A PROGRAM FOR FIRST-TIME HOMEBUYERS WITH THE TOWN OF ISLIP HOUSING AUTHORITY. PROVIDE GRANT FUNDS TO FURTHER AFFORDABLE HOUSING FOR LOW-INCOME FAMILIES AND MAINTAIN LONG-TERM VIABILITY OF AFFORDABLE HOUSING PROPERTIES.FOR THE YEAR 2016, AFFORDABLE HOUSING DEVELOPMENT OPPORTUNITIES WERE LIMITED IN IDENTIFIABLE OPPORTUNITIES. THE MAIN ACCOMPLISHMENT WAS TO APPROVE A GRANT AWARD TO FURTHER THE LONGEVITY BY 30 TO 40 YEARS OF 360 PUBLIC HOUSING UNITS FOR ELDERLY AND DISABLED FAMILIES BY PROVIDING A GRANT FOR THE REPLACEMENT OF WINDOWS FOR THE 360 UNITS TOTALING APPROXIMATELY $945,000. THE GRANT WAS NECESSITATED DUE TO FUNDING REDUCTIONS FROM THE FEDERAL GOVERNMENT AND THE DILAPIDATED CONDITION OF THE WINDOWS FOR SAFETY AND ENERGY CONSUMPTION. THE WINDOW PARTS TO REPAIR WERE OBSOLETE, AND THE SAFETY IN A SITUATION REQUIRING EASY EGRESS FOR AN AGING POPULATION WAS CRITICAL. THE GRANT WILL IMPROVE THE HOUSING, ADD SAFETY TO THE HOUSING AND IMPROVE THE HEALTH OF THE LOW-INCOME FAMILIES SERVED. THE PROJECT WAS 66% COMPLETE AS OF DECEMBER 31, 2016, AND IS EXPECTED TO BE COMPLETED IN THE LATE SPRING OF 2017.FOR YEARS 2014-2015, THE MOST RECENT ACCOMPLISHMENT WAS THE COMPLETION AND OCCUPANCY OF A 3-FAMILY HOME FOR LOW-INCOME FAMILIES IN BAY SHORE. THE HOME WAS CONSTRUCTED ON WHAT WAS THREE SEPARATE PARCELS AND REZONED AS ONE LOT. THE UNITS PROVIDE FOR ONE ACCESSIBLE 3-BEDROOM UNIT AND TWO 2-BEDROOM UNITS. THE UNITS HAVE A FIRE SPRINKLER SYSTEM, SECURITY CAMERAS, PRIVATE PARKING AND YARD SPACE. THE HOUSE WAS DESIGNED TO LOOK LIKE A SINGLE FAMILY HOME TO BLEND INTO THE COMMUNITY. A GRANT WAS MADE TO THE LONG ISLAND ASSOCIATION OF HOUSING AND REDEVELOPMENT OFFICIALS, A NAHRO LOCAL CHAPTER, TO FURTHER FACILITATE AND ADDRESS LOW-INCOME AFFORDABLE HOUSING NEEDS. THE ORGANIZATION HAS ALSO MADE GRANTS TO FAMILIES TO FURTHER THEIR AFFORDABLE HOUSING NEEDS WHEN AFFLICTED WITH BEDBUGS IN SUBSIDIZED HOUSING, AND WHEN FIRE STRUCK A LOW-INCOME HOUSING COMPLEX AFFECTING FOUR FAMILIES. GRANT FUNDS WERE MADE AVILABLE TO THE LOCAL PUBLIC HOUSING AUTHORITY TO PROVIDE ASSISTANCE WITH EXPEDITING IMPROVED ACCESSIBILITY FEATURES FOR WALKWAYS AND RAMPS THAT WILL ASSIST LOW-INCOME FAMILIES WITH DISABILITIES WHILE FURTHERING FAIR HOUSING. TO DATE, WE HAVE CONSTRUCTED IN BAY SHORE ONE NEW 2-FAMILY DWELLING, WHICH IS OCCUPIED BY TWO LOW-INCOME RENTAL FAMILIES, AND ONE NEW 3-FAMILY DWELLING, WHICH IS OCCUPIED BY THREE LOW-INCOME RENTAL FAMILIES. OUR TUDOR LANE FIRST-TIME HOMEBUYER PROGRAM (18 UNITS) WAS COMPLETED WITH THE SALE OF 18 AFFORDABLE 2-4 BEDROOM HOMES TO NEW, FIRST-TIME HOMEBUYERS. THE PROPERTIES CONTINUE TO BE HELD BY THE BUYERS, AND THE ORGANIZATION HOLDS EQUITY MORTGAGES WHERE THE FAMILIES ARE RELIEVED OF THEIR OBLIGATION TO REPAY IF THE PROPERTIES ARE USED AS THE PRIMARY RESIDENCE FOR A PERIOD OF AT LEAST 10 YEARS, WHICH WILL START TO OCCUR IN LATE 2016. THE ORGANIZATION CONTINUES TO PURSUE ADDITIONAL OPPORTUNITIES FOR DEVELOPING AFFORDABLE HOUSING BY PARTNERING WITH THE LONG ISLAND HOUSING PARTNERSHIP (LIHP) TO IDENTIFY PROPERTIES THAT CAN BE CONVERTED TO FIRST-TIME HOMEBUYER STATUS. THE ORGANIZATION CONTINUES TO PROVIDE SUPPORT TO THE ANNUAL TOWN OF ISLIP DRUG PREVENTION BASKETBALL TOURNAMENT. PARTICIPANTS COME PRIMARILY FROM FAMILIES WITH LOW OR MODERATE INCOMES, AND MANY OF THESE FAMILIES ARE RECIPIENTS OF AFFORDABLE HOUSING SUBSIDIES OR ARE ELIGIBLE FOR THE SUBSIDIES. BY PARTICIPATING, THE ORGANIZATION PERMITS THE ELIGIBLE PUBLIC TO BE MORE AWARE OF THE AVAILABILITY OF OUR SERVICES, AND THE ORGANIZATION ALSO ENHANCES THE LIVING STANDARDS OF THE AFFORDABLE HOUSING STOCK BY HELPING TO PREVENT DRUG USE AND/OR SALES, WHICH HAVE A NEGATIVE IMPACT ON THE AVAILABILITY OF AFFORDABLE HOUSING LOCATIONS.THERE WERE TWO NEW PROGRAMS DEVELOPED DURING 2011. THE FIRST WILL PROVIDE UP TO $800,000 IN CONJUNCTION WITH LIHP TO PURCHASE AND REHABILITATE FORECLOSED HOMES. THESE HOMES WILL THEN BE SOLD TO FIRST-TIME HOMEBUYERS AS AFFORDABLE HOUSING. THIS PROGRAM IS EXPECTED TO CREATE 10 TO 15 HOUSING OPPORTUNITIES. THE SECOND PROGRAM WILL BE A GRANT OF $400,000 IN CONJUNCTION WITH LIHP AND OTHER AGENCIES SUCH AS SUFFOLK COUNTY TO WRITE DOWN PURCHASE PRICES FOR AN AFFORDABLE HOUSING COMPLEX TO ASSIST EIGHT FAMILIES IN THE 80% OF MEDIAN INCOME BRACKET WITH A FIRST-TIME HOME PURCHASE. THESE UNITS, IF SUBSIDIZED, WILL ALLOW AN IMMEDIATE IMPACT IN THE TARGETED COMMUNITY OF DOWNTOWN BAY SHORE.DURING 2012, THE ORGANIZATION CONTINUED THE ABOVE INITIATIVES AND ADDED A NEIGHBORHOOD STABILIZATION PROGRAM (NSP) TO REHABILITATE 8 TO 15 FORECLOSED HOMES BY COMMITTING $800,000 TOWARD THAT EFFORT. TWO BOARDED-UP HOMES WERE PURCHASED IN ORDER TO SEEK ZONING CHANGES TO CONSTRUCT ONE 3-FAMILY HOME FOR RENTALS TO QUALIFIED LOW-INCOME ELDERLY/DISABLED PERSONS.DURING 2013, TWO OF THE NSP HOUSES HAVE BEEN COMPLETED FOR FIRST-TIME HOMEBUYERS. ZONING CHANGES WERE COMPLETED AND CONSTRUCTION BEGAN ON THE LAKEVIEW PROPERTY 3-FAMILY RENTAL HOUSE. IN ADDITION, THE ORGANIZATION PROVIDED STARTUP SUPPORT TO THE LONG ISLAND ASSOCIATION OF HOUSING AND RENEWAL OFFICIALS, INC, A NON-PROFIT ORGANIZATION.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Jackie Foster President, Secr | OfficerTrustee | 2 | $0 |
Grace Schlosser Treasurer | OfficerTrustee | 0.5 | $0 |
Dorothy Courten Vice President | OfficerTrustee | 0.5 | $0 |
Mary Holmes-Reid Director | Trustee | 0.5 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Total Program Service Revenue | $0 |
Investment income | $503 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $65,953 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $66,456 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $1,500 |
Grants and other assistance to domestic individuals. | $1,403 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $40,000 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $1,500 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $3,552 |
All other expenses | $0 |
Total functional expenses | $127,115 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $426,571 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $8,018 |
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 | $6,350 |
Net Land, buildings, and equipment | $1,112,605 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $85,491 |
Total assets | $1,639,035 |
Accounts payable and accrued expenses | $12,878 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $2,333 |
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 | $0 |
Total liabilities | $15,211 |
Net assets without donor restrictions | $1,623,824 |
Net assets with donor restrictions | $0 |
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 | $1,639,035 |
Over the last fiscal year, Town Of Islip Housing Development Corporation has awarded $131,206 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
TO ISLIP HSG AUTH PURPOSE: Building improvements window repl | $77,653 |
TO ISLIP HSG AUTH PURPOSE: Vehicle purchases | $53,553 |
Organization Name | Assets | Revenue |
---|---|---|
Nhp Foundation New York, NY | $288,555,579 | $98,614,983 |
Viecare Beaver Llc Cranberry Township, PA | $43,089,373 | $46,860,704 |
Columbus Property Management & Development Inc Philadelphia, PA | $30,446,777 | $36,581,885 |
Nycha Ii Housing Development Fund Corporation New York, NY | $21,607,256 | $75,418,815 |
Housing Assistance Corporation Hyannis, MA | $20,544,372 | $36,246,807 |
Eihab Human Services New Jersey Inc Springfield Gardens, NY | $6,084,233 | $34,447,037 |
West Side Federation For Senior Housing Inc New York, NY | $138,485,239 | $41,412,403 |
Mainstay Life Services Pittsburgh, PA | $23,133,484 | $27,133,047 |
East Harlem Pilot Block Housing Development Fund Co Inc New York, NY | $76,192,730 | $32,420,395 |
Orange Affordable Housing Inc New York, NY | $0 | $0 |
Housing Visions Unlimited Inc Syracuse, NY | $54,882,329 | $24,284,268 |
Phipps Houses New York, NY | $754,776,508 | $88,001,578 |