Overview
What is Long Island Forum For Technology Inc?
Long Island Forum for Technology Inc., or LIFT, is a nonprofit organization situated in Wantagh, New York. Currently, LIFT is in the process of merging with a related party, Advanced Materials Manufacturing Technology Information Center, under the name Composite Prototyping Center, pending approval from the New York State Attorney General. Despite being inactive during the year, LIFT sold its assets to settle debts and liabilities, and the remaining proceeds were used to rebrand the Composite Prototyping Center. LIFT's primary mission is to promote and develop manufacturing businesses by offering direct assistance, acting as an educational and counseling center, and fostering a robust business environment on Long Island, New York.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Stars)
The Long Island Forum For Technology Inc has achieved an impressive 94% rating from Charity Navigator, indicating a strong commitment to accountability and financial management. This rating reflects the organization's robust practices, particularly noted for its 100% score in the Accountability & Finance beacon, showcasing their transparent and responsible handling of funds.
One of the key strengths of the organization is its governance structure. With an entirely independent board composed of 10 members, they successfully uphold a high standard of oversight. The charity has also demonstrated no material diversion of assets, alongside a strong conflict of interest policy, whistleblower policy, and document retention practices, contributing to their high score in these areas.
In terms of financial health, the organization maintains a favorable liabilities to assets ratio of 0.00%, indicating no liabilities against their assets. Additionally, a program expense ratio of 81.01% illustrates a substantial commitment to funding their programs. This combination of governance and financial practices positions the Long Island Forum For Technology Inc as a reliable and effective nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Long Island Forum For Technology Inc legitimate?
Long Island Forum For Technology Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Long Island Forum For Technology 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Long Island Forum For Technology Inc?
The Long Island Forum for Technology Inc, aiming to promote and develop manufacturing businesses, offers direct assistance and serves as a hub for education, counseling, and advocating for a robust business environment. It strives to provide resources and support, acting as a centralized entity that fosters growth and development in the manufacturing sector. The company's ultimate goal is to contribute to the success and expansion of businesses within the industry. Currently, the organization is in the process of merging with Advanced Materials Manufacturing Technology Information Center to strengthen its capabilities and reach.
Who is the CEO of Long Island Forum For Technology Inc?
Barry Shorten is the Chair of Long Island Forum For Technology Inc.
What is the revenue of Long Island Forum For Technology Inc?
Long Island Forum For Technology Inc's revenue in 2021 was $34,270.
Who are the executives of Long Island Forum For Technology Inc and what are their salaries?
There 4 volunteers at Long Island Forum For Technology Inc.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $115,745
- Other: $36,524
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Long Island Forum For Technology Inc?
Long Island Forum For Technology Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Long Island Forum For Technology Inc
Long Island Forum for Technology Inc, in its mission, aims to foster and cultivate manufacturing businesses. It achieves this by offering direct assistance and serving as a hub for education, counseling, and promoting a conducive business environment. By doing so, the organization seeks to contribute positively to the local business landscape on Long Island, New York. The nonprofit's goal is to support the growth and development of manufacturing businesses, empowering them to thrive and make significant contributions to the economy.
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Impact
August, 2024
The impact of Long Island Forum For Technology Inc revolves around its mission to promote and develop manufacturing businesses on Long Island, NY. By providing direct assistance, acting as a center for education and counseling, as well as promoting a strong business environment in the region, the organization plays a vital role in supporting the growth and success of local manufacturing enterprises. Through its initiatives, Long Island Forum For Technology Inc contributes to the economic development of the area and the overall improvement of the community.
This information is meant to be a general summary of Long Island Forum For Technology 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 2021.
- Gross Receipts: $34,270
Assets and Liabilities:
- Total Assets: $4,893,194
- Total Liabilities: $0
- Net Assets: $4,893,194
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Organization Details
Founding Year
1977
Phone
(516) 749-7402Principal Officer
Barry Shorten
Main Address
PO BOX 7066, WANTAGH, NY, 11793
NTEE Category
Code: S20 - Community improvement
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