LONG ISLAND HOUSING PARTNERSHIP INC

EIN: 112889068 501(c)(3) Housing & Shelter

HAUPPAUGE, NY

Total Revenue
$3,312,372
Total Expenses
$4,008,453
Total Assets
$8,933,653
Net Assets
$4,111,480
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Financial Trends

Organization Details

Formation Year
1987
Legal Domicile
NY
Principal Officer
PETER J ELKOWITZ JR
Phone
6314354710
Tax Period
2024-01-01 to 2024-12-31

LONG ISLAND HOUSING PARTNERSHIP INC, founded in 1987, is a community nonprofit in the Housing & Shelter sector that reported $3.3M in total revenue in fiscal year 2024. Revenue decreased 18% compared to the prior year. Expenses of $4.0M exceeded revenue, resulting in a 21% operating deficit.

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.

Program Service Accomplishments

Program 1
Expenses: $1,111,596 Revenue: $334,272

AHC HOME IMPROVEMENT PROGRAM (HIP):HIP BENEFITS THE COMMUNITY BY ELIMINATING AND PREVENTING BLIGHT, AND BY CORRECTING BASIC HOUSING DEFICIENCIES SUCH AS BUILDING CODE VIOLATIONS OR STRUCTURAL...

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AHC HOME IMPROVEMENT PROGRAM (HIP):HIP BENEFITS THE COMMUNITY BY ELIMINATING AND PREVENTING BLIGHT, AND BY CORRECTING BASIC HOUSING DEFICIENCIES SUCH AS BUILDING CODE VIOLATIONS OR STRUCTURAL DEFECTS, FOR FAMILIES AND SENIOR CITIZENS WITH LOW TO MODERATE INCOMES. IN ADDITION, THE PROGRAM CAN ELIMINATE ARCHITECTURAL BARRIERS FOR ELIGIBLE HANDICAPPED HOMEOWNERS.-THREE REHABS WERE COMPLETED IN 2024. THE NYS AFFORDABLE HOUSING CORPORATION (AHC) GRANTED EACH HOMEOWNER A MAXIMUM OF $40,000, GENERATING PROGRAM REVENUE OF $9,000.PLUS-ONE ACCESSORY DWELLING UNIT PROGRAM (ADUP):IN PARTNERSHIP WITH THE TOWNS OF BROOKHAVEN, HUNTINGTON, ISLIP AND SOUTHOLD, LIHP WAS AWARDED $12 MILLION FROM THE NYS AFFORDABLE HOUSING CORPORATION (AHC) TO ADMINISTER THE ADUP ($2 MILLION PER TOWN). THIS PROGRAM PROVIDES UP TO $125,000 OF ASSISTANCE TO EXISTING LOW-AND MODERATE-INCOME HOME OWNERS WISHING TO ADD AN ACCESSORY DWELLING UNIT (ADU) TO THEIR PROPERTY OR MAKE CAPITAL REPAIRS TO AN EXISTING ADU THAT NEEDS TO BE BROUGHT INTO COMPLIANCE WITH LOCAL AND STATE CODE REQUIREMENTS. LIHP KICKED OFF A NEW ISLIP PROGRAM IN 2024, AND WAS RECENTLY AWARDED A $2 MILLION GRANT FOR RIVERHEAD IN EARLY 2025.TOWN OF BABYLON HOME IMPROVEMENT PROGRAM:-IN 2023, LIHP WAS AWARDED TOWN OF BABYLON COMMUNITY DEVELOPMENT HOME IMPROVEMENT. IT PROVIDES NO-INTEREST DEFERRED PAYMENT LOANS TO QUALIFIED LOW TO MODERATE-INCOME TO THREE HOMEOWNERS. THE MAXIMUM LOAN IS UP TO $50,000 TO CORRECT SUBSTANDARD HOUSING CODE VIOLATIONS AND AN ADDITIONAL $15,000 FOR LEAD ABATEMENT.

Program 2
Expenses: $531,249 Revenue: $928,514

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...

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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.

Program 3
Expenses: $365,049 Revenue: $105,270

DEFAULT AND FORECLOSURE COUNSELING:HOMEOWNERS WHO ARE FACING DEFAULT ON AN EXISTING MORTGAGE OR OTHER RELATED ISSUES CAN MEET WITH A COUNSELOR TO DISCUSS HOW TO GET BACK ON TRACK WITH THEIR MORTGAGE...

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DEFAULT AND FORECLOSURE COUNSELING:HOMEOWNERS WHO ARE FACING DEFAULT ON AN EXISTING MORTGAGE OR OTHER RELATED ISSUES CAN MEET WITH A COUNSELOR TO DISCUSS HOW TO GET BACK ON TRACK WITH THEIR MORTGAGE LENDER. THE COUNSELING FOCUSES ON DETERMINING THE AMOUNT AND EXTENT OF THE DEFAULT, THE REASON FOR DELINQUENCY AND POSSIBLE OPTIONS WHICH COULD BE AVAILABLE TO THE HOMEOWNER TO RESOLVE THE DELINQUENCY. TO HELP AND ASSIST HOMEOWNERS CONTINUES TO BE DIFFICULT AND CHALLENGING. WITH NO FUNDS AVAILABLE TO ASSIST (HAF) IT IS A VERY CHALLENGING ENVIRONMENT. WE FEEL THERE NEEDS TO BE BETTER EFFORTS FROM SERVICERS TO HELP HOMEOWNERS RETAIN THEIR PROPERTY. ALLOWING THE HOMEOWNERS TO KEEP THEIR EXISTING RATES IF LOWER THAN MARKET RATES. IN ADDITION, THE BROADER ECONOMIC ENVIRONMENT SUCH AS LOSS OF INCOME, INCREASE IN PROPERTY TAXES/HOME OWNER'S INSURANCE AND INFLATION MAKES IT DIFFICULT FOR THE HOMEOWNER TO RECOVER. LIHP CONTINUES TO WORK WITH LOCAL MUNICIPALITIES AND NYS OAG OFFICE ON OUTREACH SEMINARS TO BRING AWARENESS TO THE LONG ISLAND COMMUNITY.-LIHP HAD 72 INTAKE APPLICATIONS IN 2024-PROVIDED DEFAULT AND FORECLOSURE COUNSELING TO THREE CLIENTS IN NEED IN 2024-LIHP SECURED $257,283 IN HOPP YEAR 12 FUNDING FROM THE NYS ATTORNEY GENERAL FOR FORECLOSURE PREVENTION COUNSELING FOR THE GRANT PERIOD OF 7/16/2024 THROUGH 7/15/2025.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,057,627
Program Service Revenue $1,368,056
Investment Income $84,375
Other Revenue $802,314
TOTAL REVENUE $3,312,372

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,691,167
Fundraising Expenses $74,566
Program Expenses $2,400,340
Other Expenses $1,317,286
TOTAL EXPENSES $4,008,453

Year-over-Year Comparison

2024 2023 Change
Revenue $3,312,372 $4,030,812 -0.2%
Expenses $4,008,453 $4,368,807 -0.1%
Net Income $-696,081 $-337,995 +1.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
30
Independent Members
30
Employees
26
Volunteers
30

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
10
$1,101,337
Total Directors
30
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ANDREA ROTHCHILD DIRECTOR 0.10
Director
$0 $0 $0
ANTHONY ESERNIO TREASURER 0.10
Officer Director
$0 $0 $0
BRIAN SAPP DIRECTOR 0.10
Director
$0 $0 $0
CHRISTOPHER M HAHN DIRECTOR 0.10
Director
$0 $0 $0
CHRISTOPHER MCKEVER DIRECTOR 0.10
Director
$0 $0 $0
ELENA A DUNDON SECRETARY 0.10
Officer Director
$0 $0 $0
KEVIN M HARVEY DIRECTOR 0.10
Director
$0 $0 $0
KEVIN S LAW ESQ CHARIMAN 0.40
Officer Director
$0 $0 $0
LAWRENCE S JONES DIRECTOR 0.10
Director
$0 $0 $0
MARLO PAVENTI DIRECTOR 0.10
Director
$0 $0 $0
MARTHA ABRAMS DIRECTOR 0.10
Director
$0 $0 $0
MARY REID 2ND VICE CHAIRWOMAN 0.10
Officer Director
$0 $0 $0
MATTHEW COHEN DIRECTOR 0.10
Director
$0 $0 $0
MELISSA SANTOS DIRECTOR 0.10
Director
$0 $0 $0
PATRICK HALPIN DIRECTOR 0.10
Director
$0 $0 $0
PETER G FLOREY DIRECTOR 0.10
Director
$0 $0 $0
PETER KLEIN DIRECTOR 0.10
Director
$0 $0 $0
REINALDO REI PEREZ DIRECTOR 0.10
Director
$0 $0 $0
REV DR DARIS DIXON-CLARK DIRECTOR 0.10
Director
$0 $0 $0
RICHARD J LOCKE DIRECTOR 0.10
Director
$0 $0 $0
ROBERT A ISAKSEN DIRECTOR 0.10
Director
$0 $0 $0
ROBERT C CREIGHTON ESQ DIRECTOR 0.10
Director
$0 $0 $0
ROBERT J COUGHLAN DIRECTOR 0.10
Director
$0 $0 $0
SCOTT BRONSON DIRECTOR 0.10
Director
$0 $0 $0
SHAWN CASSIDY DIRECTOR 0.10
Director
$0 $0 $0
SHIRLEY E COVERDALE DIRECTOR 0.10
Director
$0 $0 $0
STEVEN F PHILBIN VICE CHAIRMAN 0.10
Officer Director
$0 $0 $0
STEVEN KRIEGER DIRECTOR 0.10
Director
$0 $0 $0
THOMAS P DEJESU DIRECTOR 0.10
Director
$0 $0 $0
VINCENT E GIOVINCO DIRECTOR 0.10
Director
$0 $0 $0
ANDREW BENTIVEGNA DIRECTOR OF FINANCE 25.00
Officer
$24,213 $0 $24,213
JAMES BRITZ EXEC. VP/COO 25.00
Officer
$253,571 $66,592 $320,163
JILL ROSEN-NIKOLOFF CCO/GENERAL COUNSEL 25.00
Officer
$197,453 $12,772 $210,225
PETER J ELKOWITZ JR PRESIDENT/CEO 25.00
Officer
$349,855 $57,551 $407,406
VALERIE CANNY CFO (OUTGOING) 25.00
Officer
$134,633 $4,697 $139,330
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $3,312,372 $4,008,453 $8,933,653 $-696,081
2023 $4,030,812 $4,368,807 $10,852,999 $-337,995
2022 $5,351,109 $5,237,232 $11,292,867 $113,877
2021 $6,179,842 $4,193,058 $11,769,661 $1,986,784
2020 $2,763,345 $3,033,223 $9,236,759 $-269,878
2019 $3,794,581 $3,724,507 $8,645,642 $70,074
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