Overview
What is Long Island Housing Partnership Community Development Financial Ins?
Long Island Housing Partnership Community Development Financial Institution (LIHPCDFI) is a nonprofit organization located in Hauppauge, New York. Its primary mission is to alleviate governmental burdens and improve community well-being by increasing the availability of newly constructed and renovated residences for community development and redevelopment programs. This is primarily achieved through the issuance of construction, predevelopment, and permanent financing loans, as well as ancillary development services, specifically for the development of affordable housing in eligible target markets with poverty rates of at least 20% in Nassau and Suffolk Counties, New York. In 2016, LIHPCDFI provided loans to one developer to support the Islip IX development, which is now owned by the Nassau Suffolk Partnership Housing Development Fund Company, Inc., an affiliate entity.
Official website here: www.lihp.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97%, Four-Star out of Four Star Rating
Long Island Housing Partnership Community Development Financial Institution has achieved an impressive 97% score, earning a Four-Star rating. This rating reflects the organization's strong commitment to accountability and finance, as the score is based entirely on this single beacon. With a focus on fiscal responsibility, the organization has demonstrated effective management practices, which is essential for maintaining donor trust.
The nonprofit boasts a majority independent board, with 66% of its members being independent, which enhances its governance. It also has robust policies in place, including a conflict of interest policy, a whistleblower policy, and documentation procedures that are all listed and compliant. Additionally, the organization maintains low liabilities relative to its assets, indicating sound financial health.
However, while the organization excels in accountability and finance, there are no specific programmatic outcomes or impact metrics available in the data. It would be beneficial for potential donors to understand the direct impact of their contributions on community development initiatives. Overall, Long Island Housing Partnership appears to be a financially responsible organization with strong governance practices.
This AI summary has been generated from information found on Charity Navigator.
Is Long Island Housing Partnership Community Development Financial Ins legitimate?
Long Island Housing Partnership Community Development Financial Ins is a legitimate nonprofit organization registered as a 501(c)(3) entity. Long Island Housing Partnership Community Development Financial Ins 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
Official website here: www.lihp.org
What is the mission statement of Long Island Housing Partnership Community Development Financial Ins?
The Long Island Housing Partnership Community Development Financial Institution (LIHPCDFI) was established with the mission to alleviate governmental burdens and improve community well-being. This is primarily achieved by increasing the supply of newly constructed and refurbished residences for community development and revitalization projects. These initiatives encompass both homeownership and rental properties, primarily in areas with high poverty rates. The organization accomplishes its objectives through the issuance of construction, pre-development, and permanent financing loans, as well as ancillary development services for the development of affordable housing in eligible target markets.
Official website here: www.lihp.org
Who is the CEO of Long Island Housing Partnership Community Development Financial Ins?
Peter J Elkowitz Jr is the President of Long Island Housing Partnership Community Development Financial Ins.
Official website here: www.lihp.org
What is the revenue of Long Island Housing Partnership Community Development Financial Ins?
Long Island Housing Partnership Community Development Financial Ins's revenue in 2022 was $44,511.
Official website here: www.lihp.org
Who are the executives of Long Island Housing Partnership Community Development Financial Ins and what are their salaries?
There 5 volunteers at Long Island Housing Partnership Community Development Financial Ins.
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $319,326
- Other: $55,165
- Compensation: $0
- Related: $219,585
- Other: $13,745
- Compensation: $0
- Related: $175,825
- Other: $11,844
- Compensation: $0
- Related: $169,336
- Other: $11,453
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.lihp.org
Where can I find the form 990 for Long Island Housing Partnership Community Development Financial Ins?
Long Island Housing Partnership Community Development Financial Ins'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 Long Island Housing Partnership Community Development Financial Ins
Long Island Housing Partnership Community Development Financial Ins, in its mission, aims to alleviate government burdens and enhance community well-being by significantly increasing the availability of newly constructed and refurbished residences for community development and revitalization initiatives. Primarily, this is achieved through the issuance of construction, predevelopment, and permanent financing loans, along with ancillary development services. These efforts are primarily directed towards the development of affordable housing in eligible target markets, which are regions with poverty rates of at least 20%. This organization operates primarily in Nassau and Suffolk Counties, New York, contributing significantly to the provision of affordable housing in these areas.
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Impact
August, 2024
Long Island Housing Partnership Community Development Financial Institution aims to lessen the burdens of government and improve community well-being by increasing the supply of newly constructed and rehabilitated residences for community development and redevelopment programs. This impact is achieved through the issuance of construction, predevelopment, and permanent financing loans, as well as ancillary development services for affordable housing in eligible target markets in Nassau and Suffolk counties, New York. By providing financial support and services for housing projects, the organization plays a vital role in addressing the need for affordable housing and enhancing community development in the region.
This information is meant to be a general summary of Long Island Housing Partnership Community Development Financial Ins. 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.
- Program Service Revenue: $14,511
- Gross Receipts: $44,511
Assets and Liabilities:
- Total Assets: $1,344,385
- Total Liabilities: $453,600
- Net Assets: $890,785
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN PORTFOLIO INTEREST
Revenue
$14,511
Organization Details
Founding Year
2013
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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