2025-11-10T13:56:30-06:00 2024-12-31 873707167 CBIZ ADVISORS LLC 685 THIRD AVENUE NEW YORK NY 10017 990 2024-01-01 814188947 LONG ISLAND PARTNERSHIP CLT HOUSING DEVELOPMENT FUND COMPANY INC LONG 6314354710 180 OSER AVENUE 800 HAUPPAUGE NY 11788 PETER J ELKOWITZ JR PRESIDENT 6314354710 2025-10-20 1 1 MAGDALENA CZERNIAWSKI P00535099 2125038800 2025-10-20 2024 2025-03-06 01:10:19Z PETER J ELKOWITZ JR 180 OSER AVENUE 800 HAUPPAUGE NY 11788 2583676 0 X LIHP.ORG X 2016 NY TO PROVIDE HOUSING WITHIN NASSAU AND SUFFOLK COUNTIES IN NEW YORK FOR "PERSONS OF LOW INCOME", AS DEFINED IN ANY FEDERAL OR STATE LOW INCOME HOUSING CAPITAL PROGRAM OR OTHER TYPE OF AFFORDABLE HOUSING PROGRAM. 3 1 0 1 0 0 691106 1008962 820118 1574714 0 0 0 0 1511224 2583676 0 0 0 0 0 0 0 0 0 1323573 2548810 1323573 2548810 187651 34866 3127488 3205025 2523713 2566384 603775 638641 X LONG ISLAND PARTNERSHIP CLT HOUSING DEVELOPMENT FUND COMPANY, INC. (LIPCLT) WAS ESTABLISHED TO PROVIDE HOUSING WITHIN NASSAU AND SUFFOLK COUNTIES IN NEW YORK FOR "PERSONS OF LOW INCOME", AS DEFINED IN ANY FEDERAL OR STATE LOW INCOME HOUSING CAPITAL PROGRAM OR OTHER TYPE OF AFFORDABLE HOUSING PROGRAM.AS LONG ISLAND'S FIRST REGIONAL COMMUNITY LAND TRUST, LIPCLT SUPPORTS STRONG, VITAL COMMUNITIES ACROSS LONG ISLAND THROUGH THE DEVELOPMENT AND STEWARDSHIP OF PERMANENTLY AFFORDABLE HOMES FOR PEOPLE OF ALL AGES. LIPCLT WAS DEVELOPED AS AN INNOVATIVE SOLUTION MODEL TO ADDRESS THE CRITICAL AFFORADABLE HOUSING NEEDS OF LOW- AND MODERATE-INCOME FAMILIES BY PROVIDING BELOW-MARKET HOMEOWNERSHIP OPPORTUNITIES THAT PRESEVE PERPETUAL AFFORDABILITY AND ENGAGE KEY MUNICIPAL PARTNERS. UNDER ITS SHARED-EQUITY MODEL, LIPCLT RETAINS OWNERSHIP OF THE LAND AND LEASES THE LAND TO HOMEOWNERS FOR A RENEWABLE TERM OF 99 YEARS, WHILE THE HOMEOWNERS PURCHASE AND HOLD OWNERSHIP INTEREST IN THE PHYSICAL STRUCTURE. 0 0 2515698 1558814 THE LONG ISLAND HOUSING PARTNERSHIP, INC. CONTINUES TO WORK AS A NOT-FOR-PROFIT DEVELOPER TO CREATE AFFORDABLE HOMEOWNERSHIP AND RENTAL HOUSING THROUGH NEW CONSTRUCTION AND REHABILITATION OF EXISTING HOUSING. FIVE HOMES WERE COMPLETED AND CLOSED IN 2024.ELEVEN OF THE 16 HOMES PROJECTED TO SELL IN 2024 WERE UNDER CONSTRUCTION AT THE END OF 2024.THE TOTAL VALUE OF HOMES CLOSED IN 2024 WAS $2,420,203.15 OF THE 17 HOMES PROJECTED TO SELL IN 2025 WERE UNDER CONSTRUCTION AT THE END OF 2024.THE TOTAL PROJECTED VALUE OF HOMES TO CLOSE IN 2025 IS $4,993,693.HOMEOWNERSHIP:THE REMAINING TWO HOMES IN THE BRENTWOOD-ISLIP IV DEVELOPMENT WILL BE UNDER CONSTRUCTION THIS YEAR WITH COMPLETION AND CLOSINGS ANTICIPATED IN 2025.RESALES:19 RESALES ON AFFORDABLE HOMES WERE COMPLETED IN 2024.SUFFOLK COUNTY LAND BANK:SUFFOLK COUNTY LAND BANK (SCLB) IS CONTINUING TO USE FUNDS FROM ENTERPRISE FOUNDATION TO REHABILITATE HOMES THAT HAVE BEEN FORECLOSED. SCLB CONTRACTED WITH THE LONG ISLAND HOUSING PARTNERSHIP TO REHABILITATE THESE HOMES. LIHP ALSO COMPLETED ONE HOME REHABILITATIONS ON A HOME LOCATED IN BAY SHORE, NY. THIS HOME IS ANTICIPATED TO BE SOLD IN 2025IN 2024, LIHP CONTINUED TO OUTREACH/MARKET AND SELL HOMES IN THE COMMUNITY LAND TRUST HOMES.TO DATE: 26 HOMES ARE CURRENTLY HELD IN THE CLT (25 SOLD; ONE LEASED)CURRENT ANNUALLY FEES GENERATED $54,600 2515698 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 2 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 1 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X ANDREW BENTIVEGNA DIR OF FIN 6314354710 180 OSER AVENUE HAUPPAUGE NY 11788 X PETER J ELKOWITZ JR PRESIDENT 9.00 41.00 X X 0 349855 57551 JAMES BRITZ EXEC. VICE PRESIDENT 7.00 38.00 X X 0 253571 66592 KEVIN S LAW ESQ SECRETARY 7.00 38.00 X X 0 0 0 JILL ROSEN-NIKOLOFF CCO/GENERAL COUNSEL 7.00 38.00 X 0 197453 12772 VALERIE CANNY CFO (OUTGOING) 7.00 38.00 X 0 134633 4697 0 935512 141612 0 0 1 0 0 787170 221792 165054 1008962 SALES AND DEV. FEES 531390 1492351 1492351 GROUND LEASE FEES 531390 34464 34464 PROGRAM APP. FEES 531390 22800 22800 RENTAL INCOME 531390 15900 15900 REIMBURSEMENT OF FEES 531390 9199 9199 1574714 2583676 1574714 0 0 X 95966 62854 33112 576 576 644811 644811 275 275 7912 7912 201 201 16899 16899 PROJECT COSTS 1782170 1782170 2548810 2515698 33112 0 576572 495639 3500 79735 5770 62 1363875 1201247 1363875 1340399 1265714 3127488 3205025 224081 590392 2299632 1975992 2523713 2566384 X -944780 -1004968 1548555 1643609 603775 638641 3127488 3205025 34866 0 X X 0 1 X 1 1 1 X 1842143 112416 1631158 691106 1008962 5285785 1842143 112416 1631158 691106 1008962 5285785 1408329 3877456 5285785 6217722 0.73360 0.92160 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1363875 1363875 1363875 DUE FROM AFFILIATES 1265658 CAPITALIZED PROJECT COSTS 56 1265714 GRANT ADVANCES 1871042 CONSTRUCTION AND LAND TRUST RESERVES 104950 1975992 X 5791351 3207675 3207675 2583676 0 2583676 5978167 3429357 3429357 2548810 0 2548810 PART X, LINE 2: THE ORGANIZATION BELIEVES IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2024 AND 2023 IN ACCORDANCE WITH FASB ASC TOPIC 740, INCOME TAXES, WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS PART XI, LINE 2D - OTHER ADJUSTMENTS: CONSOLIDATING ELIMINATIONS -3,135,223. RELATED ENTITIES' REVENUE 6,342,898. PART XII, LINE 2D - OTHER ADJUSTMENTS: RELATED ENTITIES' EXPENSES 6,564,580. CONSOLIDATING ELIMINATIONS -3,135,223. 0 0 0 0 0 0 0 0 0 PETER J ELKOWITZ JR PRESIDENT 0 291256 0 55000 0 3599 0 20289 0 37262 0 407406 0 0 JAMES BRITZ EXEC. VICE PRESIDENT 0 196025 0 45000 0 12546 0 13206 0 53386 0 320163 0 0 JILL ROSEN-NIKOLOFF CCO/GENERAL COUNSEL 0 182453 0 15000 0 0 0 12772 0 0 0 210225 0 0 PART I, LINE 3 THE COMPENSATION FOR THE PRESIDENT & CEO IS ESTABLISHED BY THE RELATED ENTITY LONG ISLAND HOUSING PARTNERSHIP. SCHEDULE J, PART II, COLUMN B(III): PETER J. ELKOWITZ JR., PRESIDENT/CEO AND JAMES BRITZ, EXEC. VP/CPP RECEIVED AUTO ALLOWANCE AND IT IS REPORTED IN COLUMN B(III). X 1 165054 LAND 0 0 0 PART I, COLUMN (B): THE NUMBER IN COLUMN (B) REPRESENTS THE NUMBER OF ITEMS CONTRIBUTED. FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF LONG ISLAND PARTNERSHIP CLT HOUSING DEVELOPMENT FUND COMPANY, INC. (LIPCLT) IS LONG ISLAND HOUSING PARTNERSHIP, INC. ("LIHP"), ACTING THROUGH THE LIHP BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A THE FIRST BOARD OF DIRECTORS SHALL CONSIST OF THOSE PERSONS ELECTED BY THE INCORPORATORS OR NAMED AS THE INITIAL BOARD OF DIRECTORS IN THE CERTIFICATE OF INCORPORATION OF LIPCLT, AND THEY SHALL HOLD OFFICE UNTIL THE FIRST ANNUAL MEETING OF THE SOLE MEMVER, AND UNTIL THEIR SUCCESSORS HAVE BEEN DULY ELECTED AND QUALIFY. THEREAFTER, AT EACH ANNUAL MEETING OF THE SOLE MEMBER, THE SOLE MEMBER SHALL ELECT DIRECTORS TO HOLD OFFICE UNTIL THE NEXT ANNUAL MEETING. EACH DIRECTOR SHALL HOLD OFFICE UNTIL THE EXPIRATION OF THE LONG TERM FOR WHICH HE OR SHE WAS ELECTED, AND UTIL HIS OR HER SUCCESSOR HAS BEEN DULY ELECTED AND QUALIFIED, OR UNTIL HIS OR HER PRIOR RESIGNATION OR REMOVAL AS HEREINAFTER PROVIDED. FORM 990, PART VI, SECTION A, LINE 7B ANY OR ALL OF THE MEMBERS OF THE BOARD OF DIRECTORS MAY BE REMOVED WITH OR WITHOUT CAUSE BY VOTE OFLIHP, AS SOLE MEMBER OF LIPCLT. ALL BY-LAWS OF LIPCLT SHALL BE SUBJECT TO ALTERATION OR REPEAL, AND NEW BY-LAWS MAY BE MADE, UPON THE APPROVAL OF LIHP, AS SOLE MEMBR OF LIPCLT. THE BOARD OF DIRECTORS SHALL HAVE THE POWER TO MAKE, ALTER OR REPEAL, FROM TIME TO TIME, THE BY-LAWS OF LIPCLT, SUBJECT TO THE APPROVAL OF LIHP, AS THE SOLE MEMBER OF LIPCLT. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTANT AND REVIEWED AND APPROVED BY SENIOR MANAGEMENT AND THE TREASURER, AN INDEPENDENT MEMBER OF THE BOARD OF DIRECTORS. A FULL COPY OF THE FORM 990 IS DISTRIBUTED TO THE FULL BOARD PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C LONG ISLAND PARTNERSHIP CLT HOUSING DEVELOPMENT FUND COMPANY, INC. (LIPCLT) CONFLICT OF INTEREST POLICY IS OVERSEEN AND ADMINISTERED BY ITS AUDIT COMMITTEE. LIPCLT ASKS ALL OFFICERS, DIRECTORS AND KEY EMPLOYEES TO COMPLETE A QUESTIONNAIRE, WHICH REQUIRES DISCLOSURE OF ANY CONFLICTS OF INTEREST THAT WOULD IMPACT THEIR DUTIES AND RESPONSIBILITIES TO LIPCLT. THIS IS TO BE COMPLETED BY ALL INCOMING OFFICERS, DIRECTORS, REPRESENTATIVES OF DIRECTORS (AT BOARD MEETINGS) AND KEY EMPLOYEES, PRIOR TO COMMENCEMENT OF SERVICE, AND IS TO BE UPDATED ON AN ANNUAL BASIS. AT THE BEGINNING OF THE YEAR, ALL INDIVIDUALS MUST ALSO DISCLOSE CONFLICTS OR POTENTIAL CONFLICTS IMMEDIATELY. RECORDS OF THE COMPLETED QUESTIONNAIRES ARE KEPT BY MANAGEMENT. ALL CONFLICTS OF INTEREST ARE REPORTED TO THE BOARD OF DIRECTORS, WHO MUST: 1) APPROVE, IN ADVANCE, THAT THE REPORTED RELATED PARTY TRANSACTION IS FAIR, REASONABLE AND IN THE BEST INTEREST OF THE ORGANIZATION. ANY MEMBER OF THE BOARD WITH A CONFLICT OF INTEREST DOES NOT PARTICIPATE IN, AND IS NOT PERMITTED TO BE PRESENT DURING, THE VOTING OR DELIBERATIONS. 2) MAKE ITS DECISION IN RELIANCE ON APPROPRIATE DATA AS TO COMPARABLE ARRANGEMENTS TO THE EXTENT THEY ARE AVAILABLE. 3) ADEQUATELY DOCUMENT ITS DECISION AND DELIBERATIONS IN THE CORPORATE RECORDS. FORM 990, PART VI, SECTION C, LINE 18 LIPCLT'S CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. A CONDENSED VERSION OF THE AUDITED COMBINED FINANCIAL STATEMENTS, WITH AUDITOR'S OPINION, IS PUBLISHED IN THE ANNUAL REPORT OF LONG ISLAND HOUSING PARTNERSHIP, INC. (LIHP). ANNUAL REPORTS, AS WELL AS FULL VERSIONS OF THE MOST RECENT YEAR'S AUDITED COMBINED FINANCIAL STATEMENTS, ARE AVAILABLE ON LIHP'S WEBSITE AT WWW.LIHP.ORG. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS DISCLOSURE EXPLANATION LONG ISLAND HOUSING PARTNERSHIP, INC.'S (LIHP) CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. A CONDENSED VERSION OF THE AUDITED COMBINED FINANCIAL STATEMENTS, WITH AUDITOR'S OPINION, IS PUBLISHED IN THE ANNUAL REPORT OF LONG ISLAND HOUSING PARTNERSHIP, INC. (LIHP). ANNUAL REPORTS, AS WELL AS FULL VERSIONS OF THE MOST RECENT YEAR'S AUDITED COMBINED FINANCIAL STATEMENTS, ARE AVAILABLE ON LIHP'S WEBSITE AT WWW.LIHP.ORG. FORM 990, PART VII - RELATED ORGANIZATIONS THE OFFICER EVALUATION PROCESS IS CONDUCTED BY A RELATED ORGANIZATION, LONG ISLAND HOUSING PARTNERSHIP, INC. (LIHP), TO ESTABLISH AND MAKE ANNUAL ADJUSTMENTS TO THE COMPENSATION (BASE SALARY AND BONUS, IF ANY) OF ALL EXECUTIVE OFFICERS (CURRENTLY, THE PRESIDENT AND CEO AND EXECUTIVE VICE PRESIDENT AND COO) AND NON-EXECUTIVE OFFICERS (CURRENTLY, THE CHIEF FINANCIAL OFFICER AND THE GENERAL COUNSEL/CHIEF COMPLIANCE OFFICER). THE OFFICER COMPENSATION AND RELATED BENEFITS REFLECTED WITHIN PART VII OF FORM 990 HEREIN, REPRESENTS THE ENTIRE AMOUNT PAID TO EACH RESPECTIVE OFFICER FOR WORK DONE ON LONG ISLAND PARTNERSHIP CLT HOUSING DEVELOPMENT FUND COMPANY, INC. (LIPCLT) AND WORK DONE ON THE FOLLOWING RELATED ORGANIZATIONS: LONG ISLAND HOUSING PARTNERSHIP, INC. (LIHP), LONG ISLAND PARTNERSHIP HOUSING DEVELOPMENT COMPANY, INC. (LIPHDFC), NASSAU-SUFFOLK PARTNERSHIP HOUSING DEVELOPMENT COMPANY, INC. (NSPHDFC), LONG ISLAND PARTNERSHIP COMMUNITY DEVELOPMENT CORPORATION (LIPCDC), COMMUNITY DEVELOPMENT AND DISASTER RELIEF CORPORATION (CDDRC), AND LONG ISLAND HOUSING PARTNERSHIP COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION, INC. (LIHPCDFI). OFFICER COMPENSATION AND BENEFITS ARE ONLY PAID THROUGH THE MAIN AFFILIATE ORGANIZATION, LIHP. LIPCLT REIMBURSES LIHP FOR ITS RESPECTIVE PORTION OF COMPENSATION AND BENEFITS ON AN ANNUAL BASIS, BUT NO COMPENSATION OR BENEFITS ARE PAID DIRECTLY BY LIPCLT TO ITS OFFICERS. FORM 990, PART IX, LINE 11G PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 644,811. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 644,811. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART I, LINE 6: LIPCLT UTILIZES THE SERVICES OF MANY EXPERTS AND PROFESSIONAL VOLUNTEERS WHO GENEROUSLY DONATE THEIR EXPERTISE TO SUPPORT PROGRAM AND ADMINISTRATIVE NEEDS. VOLUNTEERS INCLUDE UNCOMPENSATED BOARD OF OFFICERS AND BOARD DIRECTORS, WHOSE CHIEF FUNCTION IS TO ADVANCE THE ORGANIZATION'S MISSION, AND PROVIDE ORGANIZATIONAL OVERSIGHT, SUPPORT, AND DIRECTION. BOARD OFFICERS AND DIRECTORS MEET PERIODICALLY TO DISCUSS AND VOTE ON THE AFFAIRS OF THE ORGANIZATION. MANY BOARD OFFICERS AND DIRECTORS ALSO VOLUNTEER ADDITIONAL TIME SERVING ON VARIOUS BOARD COMMITTES. LI PARTNERSHIP COMMUNITY DEV CORP 180 OSER AVENUE SUITE 800 HAUPPAUGE NY 11788 113415840 AFF HSG DV NY 501(C)(3) LINE 7 N/A 0 LONG ISLAND HOUSING PARTNERSHIP INC 180 OSER AVENUE SUITE 800 HAUPPAUGE NY 11788 112889068 AFF HSG DV NY 501(C)(3) LINE 7 N/A 0 NASSAUSUFFOLK PARTERNSHIP HDFC INC 180 OSER AVENUE SUITE 800 HAUPPAUGE NY 11788 113360966 AFF HSG DV NY 501(C)(3) LINE 7 N/A 0 LI PARTNERSHIP HSNG DEV FUND CO INC 180 OSER AVENUE SUITE 800 HAUPPAUGE NY 11788 112911043 AFF HSG DV NY 501(C)(3) LINE 7 N/A 0 CMTY DEV AND DISASTER RELIEF CORP 180 OSER AVENUE SUITE 800 HAUPPAUGE NY 11788 462861979 AFF HSG DV NY 501(C)(3) LINE 10 N/A 0 LIHP COMMUNITY DEVELOPMENT FINANCIAL INS 180 OSER AVENUE SUITE 800 HAUPPAUGE NY 11788 463687876 AFF HSG DV NY 501(C)(3) LINE 7 N/A 0 LI SENIOR HOUSING AT MEDFORD LANDING INC 180 OSER AVENUE SUITE 800 HAUPPAUGE NY 11788 113590300 DEV. RENTAL UNIT NY N/A C 0 LI SENIOR CITIZEN HOUSING AT BROADWAY WEST INC 180 OSER AVENUE SUITE 800 HAUPPAUGE NY 11788 113504473 DEV. RENTAL UNIT NY N/A C 0 HG HOUSING DEVELOPMENT FUND COMPANY INC 180 OSER AVENUE SUITE 800 HAUPPAUGE NY 11788 472286341 DEV. RENTAL UNIT NY N/A C 0 0 1 1 0 0 0 0 1 0 0 0 0 0 1 1 1 1 0 0