Overview
What is Long Island Partnership Housing Development Fund Company Inc?
Long Island Partnership Housing Development Fund Company Inc, based in Hauppauge, New York, is a nonprofit organization dedicated to providing affordable housing solutions. They achieve this by acquiring and holding land titles from both public and private sources, securing financing for pre-development and construction activities, constructing homes, and ultimately transferring the land and completed units to eligible homebuyers. In 2022, they completed and transferred four housing units to qualified homeowners in Suffolk County, ensuring affordable housing for income-eligible families. To maintain affordability, they established an affiliate entity, Long Island Partnership CLT Housing Development Fund Company Inc, which retains ownership of the land within its land trust and leases it to homebuyers for a 99-year term. This shared-equity model allows for the sale of homes at below-market prices, preserving affordability in perpetuity.
Official website here: www.lihp.org
Is Long Island Partnership Housing Development Fund Company Inc legitimate?
Long Island Partnership Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Long Island Partnership Housing Development Fund Company 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.
Here 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 Partnership Housing Development Fund Company Inc?
Long Island Partnership Housing Development Fund Company Inc was established with a primary objective of acquiring land, both from public and private sources, and securing financing for pre-development and construction activities. Their mission involves holding title to the land, constructing homes, and ultimately transferring completed housing units to homeowners. This process is in line with the organization's tax-exempt purpose, which is to provide housing solutions. The company's activities are funded through various grants, ensuring the development and rehabilitation of homes for homeowners.
Official website here: www.lihp.org
Who is the CEO of Long Island Partnership Housing Development Fund Company Inc?
Peter J Elkowitz Jr is the President / of Long Island Partnership Housing Development Fund Company Inc.
Official website here: www.lihp.org
What is the revenue of Long Island Partnership Housing Development Fund Company Inc?
Long Island Partnership Housing Development Fund Company Inc's revenue in 2022 was $1,677,517.
Official website here: www.lihp.org
Who are the executives of Long Island Partnership Housing Development Fund Company Inc and what are their salaries?
- Peter J Elkowitz Jr (President /) [Trustee/Director]
- James Britz (Exec. Vp / C) [Trustee/Director]
- Jill Rosen-Nikoloff (Cco/General)
- Valerie Canny (Cfo)
- Steven Cannella (Director)
- Laura A Cassell (Director)
- Matthew Cohen (Director)
- Robert J Coughlan (Director)
- Shirley E Coverdale (Director)
- Thomas P Dejesu (Director)
- Richard D Deverna (Director)
- Marlo Paventi Dilts (Director)
- Rev Dr Daris Dixon-Clark (Director)
- Elena Dundon (Secretary) [Trustee/Director]
- Anthony Eserino (Treasurer) [Trustee/Director]
- Kevin S Law Esq (Chairman) [Trustee/Director]
- Robert C Creighton Esq (Director)
- Michael A Fields (Director)
- Peter Florey (Director)
- Colleen Gavin (Director)
- Vincent E Giovinco (Director)
- Thomas B Haggerty (Director)
- Christopher M Hahn (Director)
- Patrick Halpin (Director)
- Kevin Harvey (Director)
- Robert A Isaksen (Director)
- Lawrence S Jones (Director)
- Peter Klein (Director)
- Steven Krieger (Director)
- Richard J Locke (Director)
- Christopher Mckeever (Director)
- Vladimir Ortega (Director)
- Belinda Pagdanganan (Director (Ou)
- Steven F Philbin (Vice Chairma) [Trustee/Director]
- Mary Reid (2Nd Vice Cha) [Trustee/Director]
- Andrea Rothchild (Director)
- Brian Sapp (Director (In)
Official website here: www.lihp.org
Where can I find the form 990 for Long Island Partnership Housing Development Fund Company Inc?
The Long Island Partnership Housing Development Fund Company Inc’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 Partnership Housing Development Fund Company Inc
Long Island Partnership Housing Development Fund Company Inc was established with a specific mission. This organization was formed with the primary objective of acquiring land from both government and private sources. Once the land is secured, it proceeds to secure financing for pre-development and construction activities through various grants. The company then constructs homes and transfers the completed units and land to homebuyers, aligning with its tax-exempt purpose. In essence, Long Island Partnership Housing Development Fund Company Inc plays a critical role in the development and rehabilitation of housing units, ultimately providing homes to homeowners.
Impact
This information is meant to be a general summary of Long Island Partnership Housing Development Fund Company Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Saturday, July 20, 2024
Long Island Partnership Housing Development Fund Company Inc's impact is significant in providing affordable housing options to income-eligible families in Suffolk County. In 2022, they completed and transferred 4 home units to homebuyers who would not have been able to afford a new home in the market otherwise. Additionally, the organization has multiple other properties under construction, ensuring more families will have access to affordable housing options.
Through their shared-equity model, Long Island Partnership Housing Development Fund Company Inc ensures that the homes remain affordable in perpetuity by retaining ownership of the land within its land trust while allowing homebuyers to own the physical structure. This enables income-eligible families to purchase homes at below-market prices, addressing the critical issue of affordable housing in the region.
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.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALES AND DEVELOPER FEES
Revenue
$1,607,580
Organization Details
Founding Year
1988
Phone
(631) 435-4710
Principal Officer
Peter J Elkowitz Jr
Main Address
180 OSER AVENUE SUITE 800, HAUPPAUGE, NY, 11788
Website
www.lihp.org
NTEE Category
Code: L200 - Housing
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