Town of Islip Housing Development Corporation

Nonprofit profile at a glance

EIN
113633048
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Oakdale, NY, USA
Phone
6315897100
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$191,327
Expenses
$166,410
Assets
$1,788,904
Liabilities
$90,517

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

Leadership & pay

3 people listed

Executive titles in this filing

  • JACKIE FOSTER (President)
  • DOROTHY COURTEN (Vice President)

People named in this filing

  • MARY HOMES REID (Director)
  • JACKIE FOSTER (President)
  • DOROTHY COURTEN (Vice President)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To acquire, construct and provide affordable rental property and affordable housing initiatives used in conjunction with various programs, such as the section 8 housing choice voucher program, and to establish and provide a program for first-time homebuyers with teh town of islip housing authority. The program will provide grant funds to further affordable housing for low-income families and maintain long-term viability of affordable housing properties.to date, the organization has constructed in bay shore one new 2-family dwelling, which is occupied by two low-income rental families an done new 3-family dwelling, which is occupied by three low income rental families. Our tudor lane firet-time homebuyer program (18 units) was completed with the sale of 18 affordable 2-4 bedroom homes to few first time homebuyers. The properties continue to be held by the buyers, and the organization hold equity mortgages where the families are relieved fo ther obligation to repay if the properties ae u

What it reported doing in 2024

To provide and maintain Affordable Housing to low-income families in conjunction with various programs. Includes one two family dwelling and one three family dwelling located in Bay Shore, NY.The program also provides a Grant programs to further assist families to get into Assisted Housing helping with security deposit payments. Looks for programs to provide Grant payments / Program Assistance to, in partnership with local not-for-profit / Affordable Housing focused agencies.

Operating model

Revenue model
Earned-program. 86% 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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 55
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 69
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 54.6%; rating input score 55
  • Program expense ratio: 73.1%; rating input score 73
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 13%; rating input score 65; 65th percentile among comparable filings
  • Total-asset coverage ratio: 10.75; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 32; 32nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -15.1% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: -4.3% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: -11.4% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 54.6% of revenue deployed · 73.1% of spending went to programs
  • Governance: 4 of 4 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $122K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • 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 — Financial Efficiency: Mission deployment rate scored 55/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 32/100.