Town of Islip Affordable Housing Corp

Nonprofit profile at a glance

EIN
813657150
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Oakdale, NY, USA
Phone
6315897100
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$3,983,973
Expenses
$3,779,673
Assets
$18,179,433
Liabilities
$4,436,824

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

Leadership & pay

9 people listed

Executive titles in this filing

  • JACKIE FOSTER (EXECUTIVE DIRECTOR)
  • JACKIE FOSTER (President)

Highest reported compensation

  • JACKIE FOSTER (EXECUTIVE DIRECTOR): $146,992 total reported compensation

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

Overview

Mission

The town of islip affordable housing corp strives to achieve effective and efficient delivery of decent, safe and affordalbe housing to eligible low and very low income family applicants, while maintaing an overall commitment to the local communities and governmental entities within the communiteis served in order to promote adequate and affordable housing and a suitable living enviorment free from discrimination.

What it reported doing in 2024

The town of islip affordable housing corp. Houses 360 low and very low families in four separate houisng complexes. Since taking ownership of the property in 2017, the corp, through its management agent, serves approximately 60-75 new families each year due to attrition. The tenant population of approximatley 550 persons is comprised of approximately 25% disabled non elderly families and 75% elderly families.

Operating model

Revenue model
Earned-program. 88% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 90
  • Accountability: 79
  • Sustainability: 53
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85%; rating input score 85
  • Program expense ratio: 96.8%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.1%; rating input score 51; 51st percentile among comparable filings
  • Total-asset coverage ratio: 4.81; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 0.24; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 9.2% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 2.9% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: 6% per year; rating input score 100; 40th percentile among comparable filings

Details

  • Where the money goes: 85% of revenue deployed · 96.8% of spending went to programs
  • Governance: 7 of 7 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3.7M in reported program spending
  • Leadership: top reported pay $147K · 9 people listed
  • Highest-paid contractors: 1 contractor listed · $894K reported
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • Review — Sustainability: Operating margin scored 51/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.