TOWN OF ISLIP AFFORDABLE HOUSING C… - 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

2016

Legal Domicile

Principal Officer

JACKIE FOSTER

Phone

6315897100

Tax Period

2023-07-01 to 2024-06-30

TOWN OF ISLIP AFFORDABLE HOUSING CORP, founded in 2016, is a community nonprofit in the Housing & Shelter sector that reported $3.7M in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $3.5M left a modest 6% surplus.

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.

Program Service Accomplishments

Program 1

Expenses: $2,523,710

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...

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.

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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 $0

Program Service Revenue $3,333,688

Investment Income $396,862

Other Revenue $0

TOTAL REVENUE $3,730,550

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $2,523,710

Other Expenses $3,521,256

TOTAL EXPENSES $3,521,256

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,730,550	$3,271,495	+0.1%
Expenses	$3,521,256	$3,719,009	-0.1%
Net Income	$209,294	$-447,514	-1.5%

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

N/A

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
MARY KEVINS	Director	2.00	Director	$0	$0	$0
MAUREEN FRASE	Vice Chairman	1.00	Director	$0	$0	$0
DOMINICK LETTIERI	Director	1.00	Director	$0	$0	$0
DORINA BARKSDALE	Director	1.00	Director	$0	$0	$0
MARY HOLMES REID	Director	1.00	Director	$0	$0	$0
JACKIE FOSTER	President	2.00	Officer	$0	$0	$0
GRACE SCHLOSSER	Treasurer	1.00	Officer	$0	$0	$0
DOROTHY A COURTEN ESQ	Chairman	1.00	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	$3,730,550	$3,521,256	$17,777,170	$209,294
2023	$3,271,495	$3,720,332	$13,695,688	$-448,837
2022	$3,201,675	$3,984,898	$11,167,900	$-783,223
2021	$2,906,959	$3,937,841	$12,133,352	$-1,030,882
2020	$3,613,895	$3,053,945	$13,118,252	$559,950
2019	$3,261,994	$3,752,700	$11,354,300	$-490,706
2018	$3,041,250	$2,030,784	$12,951,331	$1,010,466

TOWN OF ISLIP AFFORDABLE HOUSING CORP