Town Of Islip Affordable Housing Corp
- Assets
- $13.7m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Oakdale, NY
- Founding
- 04/2019
- Data as of
- 06/2023
- EIN
- 81-3657150
Organization Overview
Town Of Islip Affordable Housing Corp is located in Oakdale, NY. The organization was established in 2019. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, 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 Affordable Housing Corp 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 06/2023, Town Of Islip Affordable Housing Corp generated $3.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $3.7m during the year ending 06/2023. While expenses have increased by 10.6% per year over the past 6 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
THE TOWN OF ISLIP HOUSING AUTHORITY STRIVES TO ACHIEVE EFFECTIVE AND EFFICIENT DELIVERY OF SAFE, DECENT AND AFFORDABLE HOUSING TO ELIGIBLE TENANTS AND APPLICANTS, WHILE MAINTAINING AN OVERALL COMMITMENT TO THE LOCAL COMMUNITES AND GOVERNMENTAL ENTITIES WITHIN THE HOUSING AUTHORITY JURISDICTION TO PROMOTE ADEQUATE AND AFFORDABLE HOUSING, ECONOMIC OPPORTUNITY AND A SUITABLE LIVING ENVIRONMENT FREE FROM DISCRIMINATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TOWN OF ISLIP AFFORDABLE HOUSING CORP. HOUSES 360 LOW AND VERY LOW FAMILIES IN FOUR SEPARATE HOUISNG COMPLEXES. SINCE TAKING OWNERSHIP OF THE PROPERTY IN 2017, THE CORP, THROUGH ITS MANAGEMENT AGENT, SERVES APPROXIMATELY 60-75 NEW FAMILIES EACH YEAR DUE TO ATTRITION. THE TENANT POPULATION OF APPROXIMATLEY 550 PERSONS IS COMPRISED OF APPROXIMATELY 25% DISABLED NON ELDERLY FAMILIES AND 75% ELDERLY FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jackie Foster President | Officer | 2 | $0 |
Mary Kevins Director | Trustee | 2 | $0 |
Maureen Frase Vice Chairman | Trustee | 1 | $0 |
Dominick Lettieri Director | Trustee | 1 | $0 |
Dorina Barksdale Director | Trustee | 1 | $0 |
Mary Holmes Reid Director | Trustee | 1 | $0 |
Financial Statements
| 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 | $3,078,699 |
| Investment income | $170,463 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $3,271,495 |
| 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. | $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 | $0 |
| Fees for services: Legal | $54,783 |
| Fees for services: Accounting | $31,845 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,750 |
| Advertising and promotion | $0 |
| Office expenses | $34,551 |
| 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 | $778,196 |
| Insurance | $276,680 |
| All other expenses | $663,027 |
| Total functional expenses | $3,720,332 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,586,002 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $35,968 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $175,954 |
| Prepaid expenses and deferred charges | $9,565 |
| Net Land, buildings, and equipment | $6,923,466 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $964,733 |
| Total assets | $13,695,688 |
| Accounts payable and accrued expenses | $53,021 |
| Grants payable | $0 |
| Deferred revenue | $25,129 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $185,443 |
| 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 | $104,403 |
| Total liabilities | $367,996 |
| Net assets without donor restrictions | $13,327,692 |
| 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 | $13,695,688 |