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Nonprofiteer
← LIA FOUNDATION

Form 990 for tax year 2024

Filed by LIA FOUNDATION.

Totals

Total revenue
$350,375
Total expenses
$370,875
Contributions and grants received
$350,375
Grants paid
$370,875
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$32,087
Total liabilities, end of year
$21,850
Net assets or fund balances, end of year
$10,237
Program services expenses (Part IX)
$370,875
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$370,875

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $350,375

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $370,875 · program services $370,875

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $377,216 · end of year $32,087

  • 17 · Accounts payable and accrued expenses

    beginning of year $46,500 · end of year $20,500

  • 19 · Deferred revenue

    beginning of year $300,000 · end of year $1,350

  • 27 · Net assets without donor restrictions

    beginning of year $716 · end of year $737

  • 28 · Net assets with donor restrictions

    beginning of year $30,000 · end of year $9,500

Mission and programs · 2024

Mission

(SEE SCHEDULE O)THE LIA FOUNDATION AIMS TO IMPLEMENT PROGRAMS, HOLD EVENTS, AND CONDUCT RESEARCH THAT FOCUS ON AREAS CRITICAL TO LONG ISLAND'S ECONOMIC DEVELOPMENT, INCLUDING:- SUPPORTING SMALL BUSINESSES- PROTECTING LONG ISLAND'S MOST VULNERABLE RESIDENTS IN NEED - ENCOURAGING WORKFORCE TRAINING TO SUPPORT EMPLOYERS AND THEIR EMPLOYEES- CULTIVATING INNOVATIONTHE FOUNDATION SOLICITS GRANTS AND CONTRIBUTIONS FOR PROJECTS THAT BENEFIT LONG ISLAND. THIS INCLUDES, BUT IS NOT LIMITED TO, GRANTS THAT WOULD IMPLEMENT PROGRAMS TO FURTHER THE LIA'S PRIORITIES TO SUPPORT ECONOMIC GROWTH ON LONG ISLAND, SUCH AS SMALL BUSINESS SUPPORT. THE FOUNDATION PROVIDED $ 370,875 IN SUPPORT TO THE LONG ISLAND ASSOCIATION IN CALENDAR YEAR 2024.

Activities or mission (Part I)

WE SUPPORT THE WELL-BEING OF LONG ISLAND COMMUNITIES, BUSINESSES AND THEIR EMPLOYEES.

  • DURING 2024, THE FOUNDATION RELEASED $370,875 OF GRANTS AND SPONSORSHIPS TO SUPPORT VARIOUS LONG ISLAND ASSOCIATION ("LIA") PROGRAMS.IN 2024, THE FOUNDATION RECEIVED GENEROUS SUPPORT FOR ITS INITIAL L.O.C.A.L. SMALL BUSINESS GRANT PROGRAM FROM OPTIMUM BUSINESS, WHICH FUNDED 50 SMALL BUSINESSES ON LONG ISLAND WITH $5,000 GRANTS, AND SUPPORTED THEM WITH PROJECTS LIKE NEW SIGNAGE AND LANDSCAPING, IMPROVING THE INTERIORS OF THE STORES AND PURCHASING EQUIPMENT, AND EXPANDING THEIR MARKETING EFFORTS. THIS PROGRAM WAS IMPLEMENTED IN PARTNERSHIP WITH THE LONG ISLAND AFRICAN AMERICAN CHAMBER OF COMMERCE AND LONG ISLAND HISPANIC CHAMBER OF COMMERCE.

    Expenses $370,875 · Grants $370,875

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Matthew Cohen Esq

    PRESIDENT & CEO OF LIA

    Total calculated
    $552,891
    From this org
    $0
    From related orgs
    $441,146
    Other
    $111,745
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $383,146 related
    Bonus
    $0 + $58,000 related
    Other
    $0
    Deferred
    $0 + $70,654 related
    Nontaxable benefits
    $0 + $41,091 related
    Filer's total
    $0 + $552,891 related

  • Lawrence Waldman

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Robert Catell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Neela Mukherjee Lockel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Paule T Pachter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Dr Chris Rosa

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Michelle Byrne

    CFO

    Total calculated
    $238,807
    From this org
    $0
    From related orgs
    $190,564
    Other
    $48,243
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $163,564 related
    Bonus
    $0 + $27,000 related
    Other
    $0
    Deferred
    $0 + $8,060 related
    Nontaxable benefits
    $0 + $40,183 related
    Filer's total
    $0 + $238,807 related

  • Stacey Sikes

    VP OF GOV. AFF. & COMM

    Total calculated
    $287,299
    From this org
    $0
    From related orgs
    $273,921
    Other
    $13,378
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $228,921 related
    Bonus
    $0 + $45,000 related
    Other
    $0
    Deferred
    $0 + $11,487 related
    Nontaxable benefits
    $0 + $1,891 related
    Filer's total
    $0 + $287,299 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4B
THE PRESIDENT & CEO PARTICIPATES IN A SECTION 457(F) PLAN. IN CALENDAR YEAR 2024, THE ASSOCIATION CONTRIBUTED $3,950 INTO HIS SECTION 457(F) PLAN.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202523189349311767

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