Long Island Housing Partnership Inc

Nonprofit profile at a glance

EIN
112889068
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Hauppauge, NY, USA
Phone
6314354710
Rating
78
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Alliance/Advocacy Organizations

Reported finances

Revenue
$3,312,372
Expenses
$4,008,453
Assets
$8,933,653
Liabilities
$4,822,173

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

Leadership & pay

35 people listed

Executive titles in this filing

  • PETER J ELKOWITZ JR (PRESIDENT/CEO)

Highest reported compensation

  • PETER J ELKOWITZ JR (PRESIDENT/CEO): $407,406 total reported compensation
  • JAMES BRITZ (EXEC. VP/COO): $320,163 total reported compensation
  • JILL ROSEN-NIKOLOFF (CCO/GENERAL COUNSEL): $210,225 total reported compensation

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

Overview

Mission

Long island housing partnership, inc. (lihp) 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 and fair housing education and lending programs.

What it reported doing in 2024

Technical assistance: lihp provides technical assistance services to municipalities, not-for-profit housing organizations and for-profit developers to facilitate the creation of affordable housing. Services provided include the administration of applicant waiting lists, conducting lotteries, determination of applicant eligibility and re-certification, applicant financial counseling and assistance, and serving as an intermediary between the builders of affordable housing and the communities in which we serve. Lihp assisted 1,146 households in 2024 through its technical assistance programs. Of these 1,146 units, 1,014 were rentals, 15 were homeownership and 117 were limited equity cooperative units. 13 new technical assistance agreements were executed in 2024 for various developments, representing 107 additional units. Of these 13 developments, 10 are for rentals (representing an additional 98 affordable units) and 3 are for homeownership (representing an additional 9 affordable units) in 2024, lihp assisted 1,146 households through its technical assistance programs-in 2024, 10 new affordable housing developments became active, either through a virtual lottery or commencement of a first-come first-served application process, making 110 additional affordable units available for qualified households. -for 2024, lihp had 58 active technical assistance agreements for which we provided rental or first-time homebuyer services. Of these 58 agreements, 50 were for rental developments and 8 were for home ownership developments.-as of january 2025, lihp has 17 additional technical assistance agreements which are executed but were not active in 2024 for either rental or first-time homebuyer services. These 17 agreements represent an additional 253 units.-lihp also has a technical services agreement in connection with a 117- unit limited equity cooperative development (highland greens) through which lihp provides general assistance and designate representatives to serve as board members.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 83
  • Accountability: 100
  • Sustainability: 25
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.8%; rating input score 74
  • Program expense ratio: 59.9%; rating input score 60
  • Fundraising efficiency: $14.18 raised per $1 spent on fundraising; rating input score 49; 49th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.7%; rating input score 95; 25th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -21%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 2.23; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.54; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 27.5%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: 3.4% per year; rating input score 100; 30th percentile among comparable filings
  • Revenue growth: 3.6% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: 5.4% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: 73.8% of revenue deployed · 59.9% of spending went to programs
  • Governance: 30 of 30 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $2.4M in reported program spending
  • Leadership: top reported pay $407K · 35 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 36 of 37 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 10 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 9 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 49/100.
  • High — Sustainability: Operating margin scored 6/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.