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Nonprofiteer
← LONG ISLAND PARTNERSHIP CLT HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2022

Filed by LONG ISLAND PARTNERSHIP CLT HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$3,631,973
Total expenses
$3,399,322
Contributions and grants received
$1,631,158
Grants paid
$0
Program service revenue
$2,000,815
Investment income
$0
Other revenue
$0
Total assets, end of year
$3,304,336
Total liabilities, end of year
$2,888,212
Net assets or fund balances, end of year
$416,124
Program services expenses (Part IX)
$3,318,284
Management and general expenses
$81,038
Fundraising expenses
$0
Program service expenses (Part III)
$3,318,284

Program services were 97.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • PETER J ELKOWITZ JR

    PRESIDENT

    Total calculated
    $374,491
    From this org
    $0
    From related orgs
    $319,326
    Other
    $55,165
    Hours/week
    9 + 41 related

    Schedule J breakdown matched by us

    Base
    not reported + $266,183 related
    Bonus
    not reported + $50,000 related
    Other
    not reported + $3,143 related
    Deferred
    not reported + $20,130 related
    Nontaxable benefits
    not reported + $35,035 related
    Filer's total
    not reported + $374,491 related

  • JAMES BRITZ

    EXEC. VICE P

    Total calculated
    $233,330
    From this org
    $0
    From related orgs
    $219,585
    Other
    $13,745
    Hours/week
    7 + 38 related

    Schedule J breakdown matched by us

    Base
    not reported + $182,274 related
    Bonus
    not reported + $35,000 related
    Other
    not reported + $2,311 related
    Deferred
    not reported + $13,745 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $233,330 related

  • JILL ROSEN-NIKOLOFF

    CCO/GENERAL

    Total calculated
    $187,669
    From this org
    $0
    From related orgs
    $175,825
    Other
    $11,844
    Hours/week
    7 + 38 related

    Schedule J breakdown matched by us

    Base
    not reported + $165,825 related
    Bonus
    not reported + $10,000 related
    Other
    not reported
    Deferred
    not reported + $11,844 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $187,669 related

  • VALERIE CANNY

    CFO

    Total calculated
    $180,789
    From this org
    $0
    From related orgs
    $169,336
    Other
    $11,453
    Hours/week
    7 + 38 related

    Schedule J breakdown matched by us

    Base
    not reported + $159,336 related
    Bonus
    not reported + $10,000 related
    Other
    not reported
    Deferred
    not reported + $11,453 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $180,789 related

  • KEVIN S LAW

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.1 + 0.9 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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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)

SCHEDULE J, PAGE 1, PART I, LINE 3
METHODS USED BY LONG ISLAND HOUSING PARTNERSHIP, INC. (LIHP), A RELATED ORGANIZATION, TO ESTABLISH AND MAKE ANNUAL ADJUSTMENTS TO THE COMPENSATION (BASE SALARY AND BONUS, IF ANY) OF EXECUTIVE OFFICERS (CURRENTLY, THE PRESIDENT AND CEO AND EXECUTIVE VICE PRESIDENT AND COO) INCLUDE ANNUAL PERFORMANCE EVALUATIONS BY A COMPENSATION COMMITTEE, REVIEW OF 990 FORMS OF COMPARABLE ORGANIZATIONS, AND APPROVAL OF THE FULL BOARD OF DIRECTORS. THE COMPENSATION COMMITTEE OF LIHP CONSISTS OF THE BOARD CHAIRMAN, VICE CHAIRMAN, SECRETARY, TREASURER, AND UP TO TWO ADDITIONAL INDEPENDENT BOARD MEMBERS OF LIHP. EXECUTIVE OFFICERS ARE ASKED TO COMPLETE AND SUBMIT TO THE COMPENSATION COMMITTEE A SELF-EVALUATION FORM ANNUALLY. IN ADDITION, AT LEAST TWO STAFF MEMBERS THAT WORK WITH, OR REPORT TO, THE EXECUTIVE OFFICER BEING EVALUATED, ARE ASKED TO COMPLETE AN ASSESSMENT FORM ON THE EXECUTIVE OFFICER. COMPLETED SELF-EVALUATION AND STAFF ASSESSMENT FORMS ARE SUBMITTED TO THE COMPENSATION COMMITTEE FOR REVIEW AND DISCUSSION. IN ADDITION, THE COMPENSATION COMMITTEE REVIEWS COMPENSATION FOR EXECUTIVE OFFICERS OF SIMILAR ORGANIZATIONS. THE COMPENSATION COMMITTEE MAY ALSO CONDUCT INTERVIEWS WITH THE EXECUTIVE OFFICERS. AT THE BEGINNING OF EACH YEAR, EXECUTIVE OFFICERS MUST PRESENT TO THE BOARD A COMPREHENSIVE REPORT ON PAST YEAR'S ACCOMPLISHMENTS AND COMPARISON WITH PREVIOUSLY-ESTABLISHED GOALS, AND DISCUSS ORGANIZATIONAL PROJECTIONS AND GOALS FOR THE UPCOMING YEAR. THIS COMPREHENSIVE REPORT IS DISTRIBUTED TO ALL BOARD MEMBERS FOR DISCUSSION, AND IS PREPARED AND PRESENTED PRIOR TO ANY COMPENSATION COMMITTEE DISCUSSIONS OR RECOMMENDATIONS ON CHANGES TO EXECUTIVE OFFICER COMPENSATION. ONCE ALL EVALUATION INFORMATION IS OBTAINED AND DISCUSSED, THE COMPENSATION COMMITTEE PREPARES A FINAL COMBINED EVALUATION AND RECOMMENDATION FOR EXECUTIVE OFFICER COMPENSATION ADJUSTMENTS AND BONUSES (IF ANY), WHICH IS REVIEWED BY THE BOARD CHAIRMAN. THE BOARD CHAIRMAN SUBMITS A FINAL REPORT ON COMPENSATION COMMITTEE RECOMMENDATIONS TO THE FULL BOARD OF DIRECTORS. THE FULL BOARD OF DIRECTORS VOTES ON AND APPROVES THE FINAL ANNUAL COMPENSATION ADJUSTMENTS AND BONUSES (IF ANY) OF ALL EXECUTIVE OFFICERS.

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

No itemized grants to organizations 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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202343189349318009

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