Nassausuffolk Partnership Housing Development Fund Company

Nonprofit profile at a glance

EIN
113360966
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Hauppauge, NY, USA
Phone
6314354710
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$394,170
Expenses
$450,107
Assets
$4,208,417
Liabilities
$585,828

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

Nassau suffolk partnership housing development fund company, inc. (nsphdfc) was organized to develop housing for persons of lower and/or moderate income where no adequate housing exists for such persons in nassau and/or suffolk counties in New York. This corporation is designated as a community housing development organization (chdo), as defined in the federal regulations.

What it reported doing in 2024

Nassau/suffolk partnership housing development fund company, inc. Has acquired 21 homes in total throughout nassau and suffolk counties from nys governor's office of storm recovery.lihp will continue to make these homes available to individuals/families at 80% ami.to date, seven homes have closed and been placed in the clt.in 2024, lihp had nine rebuild homes under construction. No homes were closed in 2024. Construction in 2024 was slowed by various municipal delays.nine homes are expected to be closed in 2025.

Operating model

Revenue model
Investment-supported. 72% of the money available for current operations came from recurring investment income.
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

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 48
  • Transparency & Controls: 65
  • Accountability: 87
  • Sustainability: 38
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.6%; rating input score 72
  • Program expense ratio: 24.4%; rating input score 24
  • 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 93.8%; rating input score 94; 26th 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: -14.2%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 9.35; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.14; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 31.5%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: -19.8% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: -11.4% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -2.3% per year; rating input score 0; 17th percentile among comparable filings

Details

  • Where the money goes: 71.6% of revenue deployed · 24.4% of spending went to programs
  • Governance: 30 of 32 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $110K in reported program spending
  • Leadership: top reported pay $407K · 35 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 10 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • 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.

  • High — Financial Efficiency: Program expense ratio scored 24/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 18/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.