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New York BBB Wise Giving Report for
Long Island Housing Partnership

A BBB Accredited charity

 



Expiration Date:
09/2016
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., Long Island Partnership Community Development Corporation, Nassau/Suffolk Partnership Housing Development Fund Company, Inc., Long Island Senior Citizen Housing at Broadway West, Inc. , Long Island Senior Housing at Medford Landing, Inc., Community Development and Disaster Relief Corporation , Long Island Housing Partnership Community Development Financial Institution
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. does not meet the following Standard for Charity Accountability.

Standard 14 : Budget - Have a board-approved annual budget for its current fiscal year, outlining projected expenses for major program activities, fund raising, and administration.

  • The budget provided by the organization does not clearly identify the projected amounts to be spent on fund raising activities.


Long Island Housing Partnership, Inc. meets the remaining 19 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:
Mr. Peter J. Elkowitz, Jr., President, CEO
Compensation*:
$217,182
Chair of the Board:
Mr. Kevin S. Law
Chair's Profession / Business Affiliation:
Long Island Association
Board Size:
31
Paid Staff Size:
25



*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, internet, membership appeals
Fund raising costs were 4.4% of related contributions. (Related contributions, which totaled $1,068,346, 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's Audited Financial Statements - Combined for the fiscal year ended December 31, 2013.

Source of Funds  

Receipts and government grants on transfer of homes

$6,791,096

Net assets released from restriction: Satisfaction of program restrictions

787,840

Government grants

738,310

Technical assistance program

365,131

Mortgage consueling

204,280

Contributions

181,506

Other income

175,684

Special events

173,495

Interest income

20,706

Direct expenses of special events

(24,965)

Total Income

$9,413,083

Program Expenses  

Project Cost

$4,651,873

Program support services

2,021,597
Total Program Expenses:
Fund Raising Expenses
Administrative Expenses

Total expenses

Income in Excess of Expenses

6,673,470
46,744
872,843

$7,593,057

$1,820,026




Uses of Funds as a % of Total Expenses


Programs: 88%  Fund Raising: 1%  Administrative 12% 
Roll the cursor over the pie chart to see the dollar amounts.


Beginning net assets $7,172,887
Ending net assets 8,962,148
Total liabilities 7,864,347

Total assets

$16,826,495






 

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