LONG ISLAND HIGH TECHNOLOGY INCUBA… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1989

Legal Domicile

Principal Officer

ANDREW WOOTEN

Phone

6314448800

Tax Period

2023-07-01 to 2024-06-30

LONG ISLAND HIGH TECHNOLOGY INCUBATOR INC, founded in 1989, is a community nonprofit in the Community Improvement sector that reported $1.8M in total revenue in fiscal year 2023. Revenue fell 31% from the prior year — a significant decline worth monitoring. Expenses of $2.4M exceeded revenue, resulting in a 31% operating deficit.

Mission

THE LONG ISLAND HIGH TECHNOLOGY INCUBATOR (LIHTI) IS A NON-PROFIT ORGANIZATION THAT SUPPORTS AND STABILIZES EARLY-STAGE, HIGH-RISK, HIGH-TECH BUSINESSES. WE ARE DEDICATED TO HELPING NEW TECHNOLOGICALLY-INNOVATIVE COMPANIES GROW BY PROVIDING THEM WITH A VARIETY OF SUPPORT RESOURCES AND SERVICES. IN ADDITION TO ITS BEAUTIFUL SETTING, LIHTI'S LOCATION ON THE STONY BROOK UNIVERSITY CAMPUS ENABLES THE TRANSFER OF IDEAS FROM THE UNIVERSITY TO THE PRIVATE SECTOR. THE COMPANIES THAT DEVELOP AND GROW AS A RESULT OF BEING A PART OF THE INCUBATOR CREATE JOBS AND EXPAND THE TAX BASE ON LONG ISLAND AND IN NEW YORK STATE.

Program Service Accomplishments

Program 1

Expenses: $1,441,775 Revenue: $1,817,334

GENERAL INCUBATOR PROGRAM - THE UTILIZATION OF THE INCUBATOR FACILITIES IS INTRINSTIC TO THE ACCOMPLISHMENT OF THE ORGANIZATION'S EXEMPT PURPOSE OF ECONOMIC DEVELOPMENT OF LONG ISLAND AND THE STATE OF NEW YORK ECONOMY. APPROXIMATELY TWENTY-FIVE HIGH TECHNOLOGY BUSINESS ORGANIZATIONS ARE UNDER DEVELOPMENT IN THIS FACILITY. THE ORGANIZATION ENHANCES THE SUCCESS OF DEVELOPMENT COMPANIES BY PROVIDING SPACE AT A MUCH LOWER RATE AS COMPARED TO THE MARKET.

Program 2

Expenses: $591,091 Revenue: $6,900

CLEAN ENERGY BUSINESS INCUBATOR PROGRAM (CEBIP) - CEBIP SEEKS TO ADDRESS MANY KEY NEEDS OF AN EARLY-STAGE, ENERGY-BASED TECHNOLOGY BUSINESS. THIS IS PARTICULARLY CRITICAL IN TODAY'S RAPIDLY CHANGING MARKETPLACE. SUPPORTED BY THE NEW YORK STATE ENERGY RESEARCH AND DEVELOPMENT AUTHORITY (NYSERDA), CEBIP PROVIDES ACCESS TO AN UNSURPASSED TEAM OF PARTNERS AND RESOURCES TO MAXIMIZE THE PROSPECTS FOR NEW BUSINESS VENTURES. CEBIP WILL CONTINUOUSLY WORK TOWARDS THE DEVELOPMENT OF A SUCCESSFUL CLEAN ENERGY ECONOMY ON LONG ISLAND, WITH THE ULTIMATE GOAL OF CREATING NEW JOBS AND MAKING A STRONG ECONOMIC IMPACT HERE IN NEW YORK.

Program 3

Expenses: $46,087

INNOVATION HOTSPOT PROGRAM - THE INNOVATION HOTSPOT PROGRAM IS A GRANT FROM EMPIRE STATE DEVELOPMENT'S DIVISION OF SCIENCE, TECHNOLOGY AND INNOVATION ("NYSTAR") TO LIHTI DESIGNATING IT AS ONE OF TEN INNOVATION HOTSPOTS ACROSS NEW YORK STATE. THE PURPOSE OF THE GRANT IS TO AID LIHTI TO REACH A GREATER NUMBER OF EARLY-STAGE COMPANIES. THE FINANCIAL SUPPORT MAY BE USED FOR PHYSICAL SPACE, SHARED ADMINISTRATIVE STAFF, ACCESS TO CAPITAL, COACHING, MENTORING, NETWORKING CONNECTIONS, PROTOTYPE DEVELOPMENT, AND ACCESS TO OTHER TECHNICAL SERVICES. INNOVATION HOTSPOTS ALSO OFFERS TAX BENEFITS TO PARTICIPATING COMPANIES. LIHTI IS SPECIFICALLY USING THE GRANT TO REIMBURSE QUALIFIED PROTOTYPING, INTELLECTUAL PROPERTY ("IP"), SMALL BUSINESS INNOVATION RESEARCH ("SBIR"), AND MARKETING EXPENSES FROM PARTICIPATING COMPANIES AND TO FINANCIALLY SUPPORT THE ADMINISTRATION OF THE GRANT AND DELIVERY OF MARKETING AND BUSINESS MENTORING STAFF SERVICES. IN ADDITION, LIHTI ENTERED A SUBCONTRACT WITH ACCELERATE LI TO RUN THE HOT SPOT PROGRAM THROUGH NYSTAR, BEGINNING 1/31/2023. LIHTI VALIDATES COMPANIES FOR ALI AND OFFERS MENTORING AND OTHER INCUBATION SERVICES. ALI IS RESPONSIBLE FOR ALL OF THE ADMINISTRATIVE WORK AND REPORTING TO NYSTAR. LIHTI SUBMITS TWO REPORTS A YEAR TO ALI WHICH COVERS $5,000/YR. OF SALARY/FRINGE AT LIHTI.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $16,000

Program Service Revenue $1,824,234

Investment Income $44

Other Revenue $2

TOTAL REVENUE $1,840,280

Expense Breakdown

Grants Paid $13,462

Salaries & Benefits $932,365

Fundraising Expenses $0

Program Expenses $2,078,953

Other Expenses $1,467,531

TOTAL EXPENSES $2,413,358

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,840,280	$2,672,338	-0.3%
Expenses	$2,413,358	$2,648,163	-0.1%
Net Income	$-573,078	$24,175	-24.7%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RYAN WELCH	FACILITES AND OPS. MGR., SECRETARY	40.00	Officer Director	$0	$0	$0
SUSAN DIBBINS	TREASURER	4.00	Officer Director	$0	$0	$0
DAVID MARCUS	DIRECTOR	0.20	Director	$0	$0	$0
KACY BULLARD	DIRECTOR	0.20	Director	$0	$0	$0
JON LONGTIN	DIRECTOR (RESIGNED 12/23)	0.20	Director	$0	$0	$0
NICHOLAS QUERQUES	DIRECTOR	0.20	Director	$0	$0	$0
LYLE GOMES	DIRECTOR (RESIGNED 12/23)	0.20	Director	$0	$0	$0
ROBERT BRILL	DIRECTOR (RESIGNED 9/23)	0.20	Director	$0	$0	$0
PAUL SHEIFFELE	DIRECTOR	0.20	Director	$0	$0	$0
PETER DONNELLY	CHAIR	1.00	Officer Director	$0	$0	$0
RICHARD REEDER	EX-OFFICIO,VICE CHAIR(RESIGNED 7/23)	0.20	Officer Director	$0	$0	$0
ANIL DHUNDALE	RESIGNED AS ED, BACK TO BOD 11/23	1.00	Officer Director	$0	$0	$0
MIGUEL GARCIA-DIAZ	EX-OFFICIO, DIRECTOR (RESIGNED 5/24)	0.20	Director	$0	$0	$0
KEVIN GARDNER	DIRECTOR	0.20	Director	$0	$0	$0
ANDREW L WOOTEN	EXECUTIVE DIRECTOR	40.00	Officer	$0	$0	$0

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
2025	No data	No data	No data	No data
2024	$1,840,280	$2,413,358	$16,794,320	$-573,078
2023	$2,672,338	$2,648,163	$6,097,369	$24,175
2022	$2,896,349	$2,738,521	$6,430,932	$157,828
2021	$2,198,556	$2,387,176	$6,310,219	$-188,620
2020	$2,462,102	$2,265,730	$6,613,942	$196,372
2019	$2,124,937	$2,060,389	$6,345,484	$64,548
2018	$1,864,599	$1,883,323	$6,410,602	$-18,724

LONG ISLAND HIGH TECHNOLOGY INCUBATOR INC