Overview
What is Nassausuffolk Partnership Housing Development Fund Company?
Nassausuffolk Partnership Housing Development Fund Company, based in Hauppauge, New York, is a nonprofit organization dedicated to addressing housing needs in Nassau and Suffolk Counties. Their primary mission involves developing affordable housing units for lower and moderate-income individuals who might not otherwise have the means to acquire a home. As a Community Housing Development Organization (CHDO), they adhere to federal regulations. In 2022, they completed and transferred two homes to eligible homebuyers in Suffolk County, thereby making homeownership more accessible. The land for these units was transferred to an affiliate entity, Long Island Partnership CLT Housing Development Fund Company, Inc., which retains ownership of the land for 99 years under a shared-equity model. This model allows income-eligible families to purchase homes at below-market prices, ensuring affordability in perpetuity.
Official website here: www.lihp.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Stars)
Nassausuffolk Partnership Housing Development Fund Company has achieved an impressive Four-Star rating from Charity Navigator, reflecting strong performance in accountability and finance. The organization scored a perfect 100% in this category, showcasing a solid commitment to transparency and good governance practices.
Key strengths include having a majority of independent board members, a comprehensive conflict of interest policy, and a low liabilities to assets ratio, indicating sound financial health. Additionally, the organization has a high program expense ratio of 83.64%, suggesting that a significant portion of its funds is directed toward its mission and programs.
While the data presents a favorable view of the organization, it is essential to continue monitoring its practices to ensure ongoing accountability and effectiveness. The absence of noted limitations or concerns further underscores its strong operational standards.
This AI summary has been generated from information found on Charity Navigator.
Is Nassausuffolk Partnership Housing Development Fund Company legitimate?
Nassausuffolk Partnership Housing Development Fund Company is a legitimate nonprofit organization registered as a 501(c)(3) entity. Nassausuffolk Partnership Housing Development Fund Company 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.
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For more financial information, click here
Official website here: www.lihp.org
What is the mission statement of Nassausuffolk Partnership Housing Development Fund Company?
The Nassausuffolk Partnership Housing Development Fund Company, operating as a Community Housing Development Organization (CHDO), was established with the primary mission to develop housing for individuals with lower and moderate income. This mission is in response to the lack of suitable housing options for such individuals in Nassau and Suffolk Counties, New York. The organization's activities include the development and rehabilitation of housing units, aligned with its tax-exempt purpose. This endeavor aims to provide affordable housing solutions, contributing to a more equitable living environment for individuals in need.
Official website here: www.lihp.org
Who is the CEO of Nassausuffolk Partnership Housing Development Fund Company?
Peter J Elkowitz Jr is the President / of Nassausuffolk Partnership Housing Development Fund Company.
Official website here: www.lihp.org
What is the revenue of Nassausuffolk Partnership Housing Development Fund Company?
Nassausuffolk Partnership Housing Development Fund Company's revenue in 2022 was $1,070,958.
Official website here: www.lihp.org
Who are the executives of Nassausuffolk Partnership Housing Development Fund Company and what are their salaries?
There 34 volunteers at Nassausuffolk Partnership Housing Development Fund Company.
Here are 37 key members and their salaries:
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Official website here: www.lihp.org
Where can I find the form 990 for Nassausuffolk Partnership Housing Development Fund Company?
Nassausuffolk Partnership Housing Development Fund Company's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lihp.org
Learn more at the official website: www.lihp.org
Mission Statement of Nassausuffolk Partnership Housing Development Fund Company
Nassausuffolk Partnership Housing Development Fund Company, abbreviated as NSPHDFC, was established with a mission to address the housing needs of individuals with lower and moderate income. Recognized as a Community Housing Development Organization (CHDO) under federal regulations, this nonprofit organization has a primary objective of developing housing for those in need, particularly in Nassau and Suffolk Counties, New York. The company's purpose is to rehabilitate and construct completed housing units, providing a much-needed solution for individuals who may not have access to adequate housing. By focusing on this crucial aspect, NSPHDFC aims to contribute positively to the housing landscape and improve living conditions for eligible individuals in their community.
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Impact
July, 2024
Nassausuffolk Partnership Housing Development Fund Company's impact is evident in the development and rehabilitation of completed housing units to homeowners in Nassau and Suffolk counties. Through its efforts, individuals who meet income eligibility requirements and would not otherwise afford a new home in the market are given the opportunity to become homeowners. In 2022, Long Island Partnership Housing Development Fund Company, Inc. successfully completed and transferred 2 home units to homebuyers in Suffolk County. Additionally, multiple other properties were under construction during the year.
Its affiliate entity, Long Island Partnership CLT Housing Development Fund Company, Inc., holds land within its land trust forever, ensuring that the properties remain affordable in perpetuity. This shared-equity model allows income-eligible families to purchase homes at below-market prices while maintaining the affordability of the property. Nassausuffolk Partnership Housing Development Fund Company's mission to provide housing for lower and/or moderate-income individuals where inadequate housing exists in Nassau and Suffolk counties is fulfilled through these initiatives.
This information is meant to be a general summary of Nassausuffolk Partnership Housing Development Fund Company. 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 2022.
- Investment Income: $164,484
- Program Service Revenue: $861,320
- Gross Receipts: $1,138,646
Assets and Liabilities:
- Total Assets: $3,737,680
- Total Liabilities: $91,271
- Net Assets: $3,646,409
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALES AND DEVELOPER FEES
Revenue
$861,320
Organization Details
Founding Year
1997
Phone
(631) 435-4710Principal Officer
Peter J Elkowitz Jr
Main Address
180 OSER AVENUE SUITE 800, HAUPPAUGE, NY, 11788
Website
www.lihp.orgNTEE Category
Code: L20 - Housing
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