NASSAUSUFFOLK PARTNERSHIP HOUSING DEVELOPMENT FUND COMPANY

EIN: 113360966 501(c)(3) Housing & Shelter

HAUPPAUGE, NY

Total Revenue
$-54,343
Total Expenses
$331,152
Total Assets
$3,771,237
Net Assets
$3,678,526
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1997
Legal Domicile
NY
Principal Officer
PETER J ELKOWITZ JR PRESIDENTCEO
Phone
6314354710
Tax Period
2023-01-01 to 2023-12-31

NASSAUSUFFOLK PARTNERSHIP HOUSING DEVELOPMENT FUND COMPANY, founded in 1997, is a micro nonprofit in the Housing & Shelter sector that reported $54K in total revenue in fiscal year 2023. Revenue fell 105% from the prior year — a significant decline worth monitoring.

Mission

NASSAU SUFFOLK PARTNERSHIP HOUSING DEVELOPMENT FUND COMPANY, INC. (NSPHDFC) WAS ORGANIZED TO DEVELOP HOUSING FOR PERSONS OF LOWER AND/OR MODERATE INCOME WHERE NO ADEQUATE HOUSING EXISTS FOR SUCH PERSONS IN NASSAU AND/OR SUFFOLK COUNTIES IN NEW YORK. THIS CORPORATION IS DESIGNATED AS A COMMUNITY HOUSING DEVELOPMENT ORGANIZATION (CHDO), AS DEFINED IN THE FEDERAL REGULATIONS.

Program Service Accomplishments

Program 1
Expenses: $135,658

DURING 2023, NASSAU SUFFOLK PARTNERSHIP HOUSING DEVELOPMENT FUND COMPANY, INC. (NSPHDFC) HAD MULTIPLE UNITS UNDER CONSTRUCTION. SIMULTANEOUS WITH THE SALE OF THESE PROPERTIES TO ELIGIBLE HOMEBUYERS...

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DURING 2023, NASSAU SUFFOLK PARTNERSHIP HOUSING DEVELOPMENT FUND COMPANY, INC. (NSPHDFC) HAD MULTIPLE UNITS UNDER CONSTRUCTION. SIMULTANEOUS WITH THE SALE OF THESE PROPERTIES TO ELIGIBLE HOMEBUYERS, THE LAND UPON WHICH THESE UNITS ARE BEING BUILT WILL BE TRANSFERRED TO AN AFFILIATE ENTITY OF NSPHDFC, LONG ISLAND PARTNERSHIP CLT HOUSING DEVELOPMENT FUND COMPANY, INC. (LIPCLT). LIPCLT WAS ESTABLISHED WITH THE INTENT OF ACQUIRING AND DEVELOPING OR REHABILITATING MULTIPLE PARCELS OF LAND THROUGHOUT LONG ISLAND AND RETAINING OWNERSHIP OF THESE PARCELS WITHIN ITS LAND TRUST FOREVER. UNDER ITS SHARED-EQUITY MODEL, LIPCLT RETAINS OWNERSHIP OF LAND WITHIN ITS LAND TRUST AND LEASES THE LAND TO HOME BUYERS FOR A RENEWABLE TERM OF 99 YEARS THROUGH A GROUND LEASE AGREEMENT, WHILE THE HOME BUYERS PURCHASE AND HOLD OWNERSHIP INTEREST IN THE PHYSICAL STRUCTURE. THIS ALLOWS INCOME-ELIGIBLE FAMILIES TO PURCHASE HOMES AT BELOW-MARKET PRICES, AND ALLOWS THE PROPERTY TO REMAIN AFFORDABLE IN PERPETUITY.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $-54,343
Other Revenue $0
TOTAL REVENUE $-54,343

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $135,658
Other Expenses $331,152
TOTAL EXPENSES $331,152

Year-over-Year Comparison

2023 2022 Change
Revenue $-54,343 $1,070,958 -1.1%
Expenses $331,152 $912,051 -0.6%
Net Income $-385,495 $158,907 -3.4%
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
32
Independent Members
30
Employees
N/A
Volunteers
31

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
9
$1,047,108
Total Directors
39
$664,177
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PETER J ELKOWITZ JR PRESIDENT / 9.00
Officer Director
$0 $58,483 $408,420
JAMES BRITZ EXEC. VP / C 7.00
Officer Director
$0 $14,350 $255,757
JILL ROSEN-NIKOLOFF CCO/GENERAL 7.00
Officer
$0 $12,373 $193,809
VALERIE CANNY CFO 7.00
Officer
$0 $11,999 $189,122
MARTHA ABRAMS DIRECTOR (IN 0.10
Director
$0 $0 $0
SCOTT BRONSON DIRECTOR (IN 0.10
Director
$0 $0 $0
STEVEN CANNELLA DIRECTOR (OU 0.10
Director
$0 $0 $0
LAURA A CASSELL DIRECTOR (OU 0.10
Director
$0 $0 $0
SHAWN CASSIDY DIRECTOR (IN 0.10
Director
$0 $0 $0
MATTHEW COHEN DIRECTOR 0.10
Director
$0 $0 $0
ROBERT J COUGHLAN DIRECTOR 0.10
Director
$0 $0 $0
SHIRLEY E COVERDALE DIRECTOR 0.10
Director
$0 $0 $0
THOMAS P DEJESU DIRECTOR 0.10
Director
$0 $0 $0
RICHARD D DEVERNA DIRECTOR (OU 0.10
Director
$0 $0 $0
REV DR DARIS DIXON-CLARK DIRECTOR 0.10
Director
$0 $0 $0
ELENA DUNDON SECRETARY 0.10
Officer Director
$0 $0 $0
ANTHONY ESERNIO TREASURER 0.10
Officer Director
$0 $0 $0
KEVIN S LAW ESQ CHAIRMAN 0.10
Officer Director
$0 $0 $0
ROBERT C CREIGHTON ESQ DIRECTOR 0.10
Director
$0 $0 $0
MICHAEL A FIELDS DIRECTOR OUT 0.10
Director
$0 $0 $0
PETER G FLOREY DIRECTOR 0.10
Director
$0 $0 $0
COLLEEN GALVIN DIRECTOR (OU 0.10
Director
$0 $0 $0
VINCENT E GIOVINCO DIRECTOR 0.10
Director
$0 $0 $0
THOMAS B HAGGERTY DIRECTOR (OU 0.10
Director
$0 $0 $0
CHRISTOPHER M HAHN DIRECTOR 0.10
Director
$0 $0 $0
PATRICK HALPIN DIRECTOR 0.10
Director
$0 $0 $0
KEVIN HARVEY DIRECTOR 0.10
Director
$0 $0 $0
ROBERT A ISAKSEN DIRECTOR 0.10
Director
$0 $0 $0
LAWRENCE S JONES DIRECTOR 0.10
Director
$0 $0 $0
PETER KLEIN DIRECTOR 0.10
Director
$0 $0 $0
STEVEN KRIEGER DIRECTOR 0.10
Director
$0 $0 $0
RICHARD J LOCKE DIRECTOR 0.10
Director
$0 $0 $0
CHRISTOPHER MCKEEVER DIRECTOR 0.10
Director
$0 $0 $0
VLADIMIR ORTEGA DIRECTOR (OU 0.10
Director
$0 $0 $0
MARLO PAVENTI DIRECTOR 0.10
Director
$0 $0 $0
REINALDO REI PEREZ DIRECTOR (IN 0.10
Director
$0 $0 $0
STEVEN F PHILBIN VICE CHAIRMA 0.10
Officer Director
$0 $0 $0
MARY REID 2ND VICE CHA 0.10
Officer Director
$0 $0 $0
ANDREA ROTHCHILD DIRECTOR 0.10
Director
$0 $0 $0
MELISSA SANTOS DIRECTOR (IN 0.10
Director
$0 $0 $0
BRIAN SAPP DIRECTOR 0.10
Director
$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
2024 No data No data No data No data
2023 $-54,343 $331,152 $3,771,237 $-385,495
2022 $1,070,958 $912,051 $3,737,680 $158,907
2021 $1,333,785 $1,221,380 $4,323,101 $112,405
2020 $1,782,088 $1,511,459 $4,275,817 $270,629
2019 $625,380 $560,082 $4,488,596 $65,298
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