Overview
What is The Long Island City Partnership Inc?
The Long Island City Partnership Inc is a neighborhood development organization situated in Long Island City, New York. Its primary mission is to advocate for economic growth that benefits the area's industrial, commercial, tech, cultural, tourism, and residential sectors. To achieve this, the organization manages the Long Island City Industrial Business Zone (IBZ) and offers one-on-one business assistance to local businesses. It also works to attract, retain, and expand businesses in Long Island City, performing outreach to promote the expansion of the LIC Business Improvement District (BID). In addition, The Long Island City Partnership Inc hosts networking, educational, and community events, serving as a central source of information for residents and visitors through its website, social media, and weekly newsletter. The organization aims to establish a vibrant and authentic mixed-use community in Long Island City, employing a total of 17 individuals.
Official website here: www.licpartnership.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 89%, Three-Star out of Four Star rating from Charity Navigator.
The Long Island City Partnership Inc has achieved a solid 89% score, reflecting a strong emphasis on accountability and financial practices. The entire rating is based on the Accountability & Finance beacon, indicating that the organization maintains high standards in governance and operational transparency. The presence of a majority independent board and robust financial oversight underscores its commitment to ethical management.
Strengths of the organization include a 100% independent board, which ensures impartial decision-making, and an effective audit and oversight committee that has received full points. The charity has also demonstrated no material diversion of assets, which signals responsible stewardship of funds. Policies related to conflicts of interest and whistleblowing are well-documented, promoting a culture of integrity.
However, while the program expense ratio at 64.33% indicates a significant portion of funds is directed towards program activities, there is room for improvement in this area, as it received a slightly lower score in comparison to other metrics. Overall, The Long Island City Partnership Inc shows strong financial health and governance practices, making it a reliable option for donors looking to support community initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is The Long Island City Partnership Inc legitimate?
The Long Island City Partnership Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Long Island City Partnership Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $232,797
Professional Fundraising Fees: $0
Other Salaries and Wages: $749,148
For more financial information, click here
Official website here: www.licpartnership.org
What is the mission statement of The Long Island City Partnership Inc?
The Long Island City Partnership Inc serves as a neighborhood development organization, focusing on Long Island City, Queens. Its mission is to advocate for economic development that benefits various sectors within the area, including industrial, commercial, tech, cultural, tourism, and residential sectors. The primary goal is to attract new businesses, retain existing ones, welcome new residents and visitors, and foster a vibrant and authentic mixed-use community.
Three major programs drive the organization's mission: business assistance, commercial revitalization, and events and marketing. Business assistance involves managing the Long Island City Industrial Business Zone (IBZ) and providing one-on-one business assistance to local businesses. Commercial revitalization aims to attract, retain, and expand businesses in Long Island City and conduct outreach for the potential expansion of the Long Island City Business Improvement District (BID). Lastly, events and marketing involve hosting networking, educational, and community events, acting as a central source of information for residents and visitors, and promoting a lively and authentic mixed-use community through various online platforms, such as the organization's website, social media, and weekly newsletter.
Official website here: www.licpartnership.org
What is the revenue of The Long Island City Partnership Inc?
The Long Island City Partnership Inc's revenue in 2023 was $1,523,233.
Official website here: www.licpartnership.org
Who are the executives of The Long Island City Partnership Inc and what are their salaries?
The average compensation at The Long Island City Partnership Inc during 2023 was $65,463. There are 15 employees and 52 volunteers at The Long Island City Partnership Inc.
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- Compensation: $222,000
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Official website here: www.licpartnership.org
Where can I find the form 990 for The Long Island City Partnership Inc?
The Long Island City Partnership Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.licpartnership.org
Learn more at the official website: www.licpartnership.org
Mission Statement of The Long Island City Partnership Inc
The Long Island City Partnership Inc, as a neighborhood development organization, is dedicated to advocating for economic growth that benefits various sectors in the Long Island City area. This includes the industrial, commercial, tech, cultural, tourism, and residential sectors. The organization's ultimate goal is to attract new businesses, retain existing ones, welcome new residents, and encourage visitors, all with the aim of fostering a vibrant and authentic mixed-use community.
To achieve this mission, The Long Island City Partnership Inc implements three major programs. Firstly, in the realm of business assistance, the organization manages the Long Island City Industrial Business Zone (IBZ) and offers one-on-one business assistance to businesses within the area. This program aims to support and strengthen local businesses, contributing to the overall economic growth of Long Island City.
Secondly, the Commercial Revitalization program is designed to attract, retain, and expand businesses within Long Island City. This involves performing outreach to promote the expansion of the Long Island City Business Improvement District (BID) and incentivize businesses to invest and grow in the area.
Lastly, The Long Island City Partnership Inc hosts networking, educational, and community events. By acting as a central source of information for residents and visitors, the organization promotes the vibrant and authentic mixed-use community it seeks to cultivate. Through its website, social media, and weekly newsletter, it disseminates information about Long Island City, fostering a sense of community and engagement.
In summary, The Long Island City Partnership Inc is a proactive organization that works to foster economic growth and development in Long Island City. By managing the Industrial Business Zone, promoting commercial revitalization, and hosting events, the organization aims to attract new businesses, retain existing ones, and foster a vibrant and authentic mixed-use community.
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Impact
July, 2024
The Long Island City Partnership Inc plays a crucial role in driving economic development and fostering a vibrant community in Long Island City, Queens, NY. Through its programs focused on business assistance, commercial revitalization, and events and marketing, this organization actively works to support local businesses, attract new enterprises, and engage residents and visitors alike. By advocating for economic development that benefits a range of sectors including industrial, commercial, tech, cultural, tourism, and residential, the Long Island City Partnership Inc helps create a diverse and thriving environment in the area. Its efforts ultimately contribute to the growth and overall improvement of the community, making it a more attractive place to live, work, and visit.
This information is meant to be a general summary of The Long Island City Partnership Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $26,497
- Program Service Revenue: $1,226,745
- Gross Receipts: $1,523,233
Assets and Liabilities:
- Total Assets: $1,268,525
- Total Liabilities: $295,878
- Net Assets: $972,647
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EVENT SPONSORSHIPS & R
Revenue
$696,300
PROGRAM SERVICE INCOME
Revenue
$397,515
MEMBERSHIP FEES
Revenue
$132,930
Organization Details
Founding Year
1979
Principal Officer
Laura Rothrock
Website
www.licpartnership.orgNTEE Category
Code: S31Z - Community improvement
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