Lia Foundation Inc

Nonprofit profile at a glance

EIN
113539717
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Melville, NY, USA
Phone
6314933000
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Research Institutes and Public Policy Analysis

Official website

Reported finances

Revenue
$350,375
Expenses
$370,875
Assets
$32,087
Liabilities
$21,850

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • MATTHEW COHEN ESQ (PRESIDENT & CEO OF LIA)

Highest reported compensation

  • MATTHEW COHEN ESQ (PRESIDENT & CEO OF LIA): $552,891 total reported compensation
  • STACEY SIKES (VP OF GOV. AFF. & COMM): $287,299 total reported compensation
  • MICHELLE BYRNE (CFO): $238,807 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

(see schedule o)the lia foundation aims to implement programs, hold events, and conduct research that focus on areas critical to long island's economic development, including:- supporting small businesses- protecting long island's most vulnerable residents in need - encouraging workforce training to support employers and their employees- cultivating innovationthe foundation solicits grants and contributions for projects that benefit long island. This includes, but is not limited to, grants that would implement programs to further the lia's priorities to support economic growth on long island, such as small business support. The foundation provided $ 370,875 in support to the long island association in calendar year 2024.

What it reported doing in 2024

During 2024, the foundation released $370,875 of grants and sponsorships to support various long island association ("lia") programs.in 2024, the foundation received generous support for its initial l.o.c.a.l. Small business grant program from optimum business, which funded 50 small businesses on long island with $5,000 grants, and supported them with projects like new signage and landscaping, improving the interiors of the stores and purchasing equipment, and expanding their marketing efforts. This program was implemented in partnership with the long island african american chamber of commerce and long island hispanic chamber of commerce.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 71
  • Accountability: 81
  • Sustainability: 16
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 22nd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -5.9%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 0.09; rating input score 6; 6th percentile among comparable filings
  • Liabilities to assets ratio: 0.68; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 46.7%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: 8.8% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 0.7% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: -5.7% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 6 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $371K in reported program spending
  • Leadership: top reported pay $553K · 8 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 7 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Operating margin scored 28/100.
  • High — Sustainability: Total-asset coverage ratio scored 6/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.