The Long Island City Partnership Inc

Nonprofit profile at a glance

EIN
112651377
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Long Island City, NY, USA
Phone
7187865300
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Official website

Reported finances

Revenue
$1,628,392
Expenses
$1,725,835
Assets
$1,085,479
Liabilities
$332,281

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

Leadership & pay

52 people listed

Executive titles in this filing

  • LAURA ROTHROCK (PRESIDENT)

Highest reported compensation

  • LAURA ROTHROCK (PRESIDENT): $255,758 total reported compensation
  • CHARLES YU (VP, ECONOMIC DEVELOPMENT): $146,489 total reported compensation
  • YING HUANG (CHIEF ADMINISTRATIVE OFFICER): $124,775 total reported compensation

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

Overview

Mission

To advocate for economic development that benefits the area's industrial, commercial, tech, cultural, tourism, and residential sectors. The goal is to attract new businesses to lic, retain those already here, welcome new residents and visitors, and promote a vibrant and authentic mixed-use community.

What it reported doing in 2024

The organization's three major programs include the following: business assistance - managing the long island city industrial business zone (ibz) and providing one-on-one business assistance to businesses in lic; commercial revitalization - attracting, retaining, and expanding businesses in long island city and performing outreach with respect to an expansion of the lic bid; and events and marketing - hosting networking, educational, and community events, acting as a central source of lic information for residents and visitors through its website, social media, and its weekly newsletter, and promoting a vibrant and authentic mixed-use community.

Operating model

Revenue model
Earned-program. 81% of the money available for current operations came from fees and other program revenue.
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. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 70
  • Accountability: 100
  • Sustainability: 22
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.5%; rating input score 69
  • Program expense ratio: 66.5%; rating input score 67
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • 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: Limited

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: -6%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 0.63; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0.31; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 37.5%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: 4.1% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 8.1% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 9.4% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: 69.5% of revenue deployed · 66.5% of spending went to programs
  • Governance: 48 of 48 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $256K · 52 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 — Sustainability: Operating margin scored 22/100.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.