Overview
What is Town Of Islip Housing Development Corporation?
The Town of Islip Housing Development Corporation is a nonprofit organization based in Oakdale, New York, with a mission to expand affordable housing options for residents in the Town of Islip. They operate by constructing and providing affordable rental properties and initiatives, such as the Section 8 Housing Choice Voucher Program. To further assist families, they offer grant programs to help with security deposit payments. Additionally, they partner with local not-for-profit and affordable housing-focused agencies to provide additional grant payments and program assistance. As of now, the corporation has constructed two affordable rental properties in Bay Shore, housing four low-income families, and completed a Firet-Time Homebuyer Program, selling 18 affordable 2-4 bedroom homes to first-time homebuyers.
Is Town Of Islip Housing Development Corporation legitimate?
Town Of Islip Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Town Of Islip Housing Development Corporation 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:
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What is the mission statement of Town Of Islip Housing Development Corporation?
The Town of Islip Housing Development Corporation was established with the objective of expanding affordable housing options for eligible residents. Its mission involves acquiring, constructing, and providing affordable rental properties, as well as implementing affordable housing initiatives in conjunction with programs such as the Section 8 Housing Choice Voucher Program. The corporation also aims to establish a program for first-time homebuyers, providing grant funds to help low-income families secure affordable housing and maintain the long-term viability of these properties. To date, the organization has completed several projects, including constructing two- and three-family dwellings occupied by low-income rental families and selling 18 affordable homes to first-time homebuyers through its Tudor Lane Firetime Homebuyer Program.
Who is the CEO of Town Of Islip Housing Development Corporation?
Jackie Foster is the President of Town Of Islip Housing Development Corporation.
What is the revenue of Town Of Islip Housing Development Corporation?
Town Of Islip Housing Development Corporation's revenue in 2022 was $117,563.
Who are the executives of Town Of Islip Housing Development Corporation and what are their salaries?
Here are 4 key members and their salaries:
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Where can I find the form 990 for Town Of Islip Housing Development Corporation?
Town Of Islip Housing Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Town Of Islip Housing Development Corporation
The Town of Islip Housing Development Corporation was established with a mission to expand affordable housing options for qualified residents within the Town of Islip. This nonprofit organization endeavors to achieve this goal by acquiring, constructing, and providing affordable rental properties and initiatives. These initiatives often collaborate with programs such as the Section 8 Housing Choice Voucher Program, aiming to make housing more accessible for low-income families.
Furthermore, the Town of Islip Housing Development Corporation implements a program specifically for first-time homebuyers in partnership with the Town of Islip Housing Authority. This program provides grant funds to assist low-income families in purchasing homes, thereby promoting affordable housing sustainability and long-term viability for these properties. As evidence of their efforts, the organization has constructed two affordable rental properties, housing a total of five low-income families. Additionally, the Tudor Lane Fire-Time Homebuyer Program resulted in the sale of 18 affordable homes to first-time homebuyers, with the properties still being owned by the buyers. The organization continues to hold equity mortgages on these properties, ensuring that the families are relieved of their obligation to repay if the properties are sold.
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Impact
October, 2024
The Town of Islip Housing Development Corporation significantly enhances affordable housing opportunities for low-income families in the Town of Islip. Through the construction and management of rental properties, such as the newly built two-family and three-family dwellings in Bay Shore, the organization provides homes for multiple qualifying families, fostering community stability.
In addition to rental properties, the corporation plays a vital role in creating pathways to homeownership. The Tudor Lane First-Time Homebuyer Program successfully sold 18 affordable homes to first-time buyers, ensuring these residents can build equity in their properties while benefiting from affordable housing options.
The organization also focuses on long-term sustainability by administering grant programs that assist families with security deposits and promote their transition into assisted housing. By partnering with local agencies, the Town of Islip Housing Development Corporation aims to further expand its impact, ensuring that affordable housing remains accessible and viable for the community it serves. Through these efforts, the corporation enhances the quality of life for numerous families, contributing to a more equitable housing landscape in the area.
This information is meant to be a general summary of Town Of Islip Housing Development Corporation. 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: $228
- Program Service Revenue: $117,335
- Gross Receipts: $117,563
Assets and Liabilities:
- Total Assets: $1,676,598
- Total Liabilities: $49,631
- Net Assets: $1,626,967
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTAL REVENUE
Revenue
$117,335
Organization Details
Founding Year
2001
Phone
(631) 589-7100Principal Officer
Jackie Foster
Main Address
963 MONTAUK HIGHWAY, OAKDALE, NY, 11769
NTEE Category
Code: L20 - Housing
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