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New York BBB Wise Giving Report for
Long Island Housing Partnership

A BBB Accredited charity

 



Expiration Date:
10/2014
Name:
Long Island Housing Partnership, Inc.
Address:
180 Oser Avenue
Suite 800
Hauppauge, NY 11788
Phone:
631-435-4710
Web Site:
Year, State Incorporated:
1987, New York
Affiliates:
Long Island Partnership Housing Development Fund Company, Inc., Nassau/Suffolk Partnership Housing Development Fund Company, Inc, Long Island Partnership Community Development Corporation, Long Island Senior Citizen Housing at Broadway West, Inc. , Long Island Senior Housing at Medford Landing, Inc.
Stated Purpose:
" Long Island Housing Partnership, Inc. was created to address the need for and to provide affordable housing opportunities on Long Island for those who are unable to afford homes, through development, technical assistance, mortgage counseling, homebuyer education and lending programs. Prospective homebuyers who meet maximum annual income restrictions and qualify for private mortgage financing are selected by lottery or computerized random number generating systems, and then on a first come first serve basis, if additional applicants can be accommodated. Technical assistance is provided to private developers, municipalities and other not-for-profits who are providing affordable housing on Long Island. "





Evaluation Conclusions
 

              
Long Island Housing Partnership, Inc. meets the 20 Standards for Charity Accountability.




Programs
 

              
Long Island Housing Partnership (LIHP) promotes affordable housing opportunities on Long Island for first-time homeowners and senior citizens. Through new construction and rehabilitation of existing housing, the organization helps program participants achieve home ownership. Other LIHP programs provide technical assistance to facilitate the creation of affordable homes and rental units, and develop innovative community lending. The organization also offers homeowners counseling, employer assisted housing, and down payment assistance programs.



Governance
 

              
Chief Executive Officer:
Peter J. Elkowitz, Jr., President, CEO
Compensation*:
$181,135
Chair of the Board:
Kevin S. Law
Chair's Profession / Business Affiliation:
Long Island Association
Board Size:
31
Paid Staff Size:
23



*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.




Fund Raising
 

              
Method(s) Used:


Invitations to fund raising events, grant proposals, Membership
Fund raising costs were 5.1% of related contributions. (Related contributions, which totaled $1,090,579, are donations received as a result of fund raising activities.)




Tax Status
 

              
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.




Financial
 

              
The following information is based on Long Island Housing Partnership, Inc.'s Audited Financial Statements - Combined for the fiscal year ended December 31, 2011.

Source of Funds  

Receipts and government grants on transfer of homes

$3,645,223

Technical assistance program

532,049

Grants

414,068

Government grants

412,529

Mortgage counseling

333,740

Contributions

176,780

Special events

109,680

Other Income

107,241

Interest Income

31,791

Direct expenses of special events

(22,478)

Total Income

$5,740,623

Program Expenses  

Project costs

$3,314,159

Program support services

1,849,130
Total Program Expenses:
Fund Raising Expenses
Administrative Expenses

Total expenses

Expenses in Excess of Income

5,163,289
55,887
920,638

$6,139,814

$(399,191)




Uses of Funds as a % of Total Expenses


Programs: 84%  Fund Raising: 1%  Administrative 15% 
Roll the cursor over the pie chart to see the dollar amounts.


Beginning net assets $6,458,991
Ending net assets 6,059,800
Total liabilities 15,635,918

Total assets

$21,695,718






 

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This report is not to be used for fundraising or promotional purposes and may not be reproduced or distributed in whole or in part.