Civic Intelligence

Long Island Development Corporation

EIN 11-2556172 • 501(c)3 • Hauppauge, NY

View Organization Page

Profile

To assist small businesses and not-for-profit entities with low cost loans and to provide free technical assistance.

175 Engineers Road No 200Hauppauge, NY 11788

www.lidc.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

40th percentile

0.10x

Higher debt load relative to assets than 40% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

87th percentile

1.76x

Higher debt load relative to revenue than 87% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

5th percentile

-57%

Higher net margin than 5% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

42nd percentile

2.8%

Faster asset growth than 42% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

82nd percentile

35%

Faster revenue growth than 82% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets40th percentile

Assets

Up

$14,809,816

Up $403,469 (+2.8%) from 2023

Liabilities

Up

$1,479,707

Up $883,658 (+148%) from 2023

Net Assets

Down

$13,330,109

Down $480,189 (-3.5%) from 2023

Operations
Liabilities / Revenue87th percentileNet Margin5th percentile

Revenue

Up

$841,559

Up $217,824 (+35%) from 2023

Expenses

Up

$1,321,904

Up $202,764 (+18%) from 2023

Net Income

Up

-$480,345

Up $15,060 (+3.0%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth42nd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2010: $9,515,902Liabilities 2010: $1,432,290Net Assets 2010: $8,083,6122010Assets 2011: $8,678,946Liabilities 2011: $334,847Net Assets 2011: $8,344,0992011Assets 2012: $8,670,341Liabilities 2012: $131,736Net Assets 2012: $8,538,6052012Assets 2013: $8,936,169Liabilities 2013: $169,008Net Assets 2013: $8,767,1612013Assets 2014: $9,048,411Liabilities 2014: $177,949Net Assets 2014: $8,870,4622014Assets 2015: $9,128,027Liabilities 2015: $165,468Net Assets 2015: $8,962,5592015Assets 2016: $9,069,283Liabilities 2016: $133,418Net Assets 2016: $8,935,8652016Assets 2017: $9,015,989Liabilities 2017: $114,057Net Assets 2017: $8,901,9322017Assets 2018: $8,601,180Liabilities 2018: $59,393Net Assets 2018: $8,541,7872018Assets 2019: $8,395,482Liabilities 2019: $46,459Net Assets 2019: $8,349,0232019Assets 2020: $8,218,199Liabilities 2020: $272,712Net Assets 2020: $7,945,4872020Assets 2021: $12,950,849Liabilities 2021: $297,277Net Assets 2021: $12,653,5722021Assets 2022: $14,767,676Liabilities 2022: $461,973Net Assets 2022: $14,305,7032022Assets 2023: $14,406,347Liabilities 2023: $596,049Net Assets 2023: $13,810,2982023Assets 2024: $14,809,816Liabilities 2024: $1,479,707Net Assets 2024: $13,330,1092024

Highlighted filing

2024

Assets$14,809,816
Liabilities$1,479,707
Net Assets$13,330,109
Open 2024 Filing

Operations Trend

Revenue Growth82nd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $2,029,2852010Expenses 2011: $1,206,1132011Revenue 2012: $1,400,210Expenses 2012: $1,205,704Net Income 2012: $194,5062012Revenue 2013: $1,260,654Expenses 2013: $1,032,098Net Income 2013: $228,5562013Revenue 2014: $1,140,100Expenses 2014: $1,036,799Net Income 2014: $103,3012014Revenue 2015: $1,075,476Expenses 2015: $983,379Net Income 2015: $92,0972015Revenue 2016: $982,712Expenses 2016: $1,009,407Net Income 2016: -$26,6952016Revenue 2017: $928,887Expenses 2017: $962,818Net Income 2017: -$33,9312017Revenue 2018: $756,799Expenses 2018: $1,116,944Net Income 2018: -$360,1452018Revenue 2019: $751,799Expenses 2019: $944,563Net Income 2019: -$192,7642019Revenue 2020: $552,586Expenses 2020: $956,122Net Income 2020: -$403,5362020Revenue 2021: $6,220,737Expenses 2021: $1,512,654Net Income 2021: $4,708,0832021Revenue 2022: $2,571,319Expenses 2022: $919,188Net Income 2022: $1,652,1312022Revenue 2023: $623,735Expenses 2023: $1,119,140Net Income 2023: -$495,4052023Revenue 2024: $841,559Expenses 2024: $1,321,904Net Income 2024: -$480,3452024

Highlighted filing

2024

Revenue$841,559
Expenses$1,321,904
Net Income-$480,345
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$14,809,816
Liabilities
$1,479,707
Net assets
$13,330,109
Revenue
$841,559
Expenses
$1,321,904
Net income
-$480,345
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$14.8$1.48$13.3$0.84$1.32$0.48
2023Detailed filing. Detailed filing data is available for this year.$14.4$0.60$13.8$0.62$1.12$0.50
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.8$0.46$14.3$2.57$0.92$1.65
2021Detailed filing. Detailed filing data is available for this year.$13.0$0.30$12.7$6.22$1.51$4.71
2020Detailed filing. Detailed filing data is available for this year.$8.22$0.27$7.95$0.55$0.96$0.40
2019Detailed filing. Detailed filing data is available for this year.$8.40$0.05$8.35$0.75$0.94$0.19
2018Detailed filing. Detailed filing data is available for this year.$8.60$0.06$8.54$0.76$1.12$0.36
2017Detailed filing. Detailed filing data is available for this year.$9.02$0.11$8.90$0.93$0.96$0.03
2016Detailed filing. Detailed filing data is available for this year.$9.07$0.13$8.94$0.98$1.01$0.03
2015Detailed filing. Detailed filing data is available for this year.$9.13$0.17$8.96$1.08$0.98$0.09
2014Detailed filing. Detailed filing data is available for this year.$9.05$0.18$8.87$1.14$1.04$0.10
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.94$0.17$8.77$1.26$1.03$0.23
2012Summary only. Only limited summary data is available for this year.$8.67$0.13$8.54$1.40$1.21$0.19
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.68$0.33$8.34$1.21
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.52$1.43$8.08$2.03
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Aug 13, 2025
Return Version
2023v6.0
Gross Receipts
$841,559
Mission and Program Overview

Mission

Economic development - to assist small businesses and not-for-profit entities with loans and technical assistance.

To assist small businesses/nfp entities with loans & technical assistance.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$10,696,038$10,975,510▲ $279,472
Cash and Non-Interest-Bearing Accounts$40,714$3,022,516▲ $2,981,802
Savings and Temporary Cash Investments$3,584,832$743,732▼ $2,841,100
Prepaid Expenses and Deferred Charges$20,451$48,059▲ $27,608
Land, Buildings, and Equipment, Net$8,566$7,517▼ $1,049
Accounts Receivable$42,558$2,604▼ $39,954
Total Assets$14,406,347$14,809,816▲ $403,469
Other Assets Total$13,188$9,878▼ $3,310
Liabilities
Mortgage Notes Payable Secured by Investment Property$500,000$1,333,334▲ $833,334
Other Liabilities$0$89,075▲ $89,075
Accounts Payable and Accrued Expenses$96,049$57,298▼ $38,751
Total Liabilities$596,049$1,479,707▲ $883,658
Net Assets / Fund Balance
Net Assets With Donor Restrictions$13,494,182$14,694,393▲ $1,200,211
Net Assets Without Donor Restrictions$316,116$-1,364,284▼ $1,680,400
Total Net Assets Fund Balance$13,810,298$13,330,109▼ $480,189
Total Liabilities and Net Assets / Fund Balance$14,406,347$14,809,816▲ $403,469

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,674$28,133$34,807
Other Land Buildings$843$3,234$4,077
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
Gina Slater ParkerPresident/CEO/board MemberFT$223,423$35,887$259,310

Board Members and Trustees

NameTitle
Diana WeirBoard Member
Domenic AbbatielloBoard Member
Isabel MedinaBoard Member
Michael FieldsBoard Member
Michelle DibenedettoBoard Member
Phil BallinBoard Member
Phyllis Hill SlaterBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$17,810
Program Service Revenue
$809,125
Investment Income
$5,624
Other Revenue
$9,000
Change in Net Assets
$-480,345

Audited Revenue Reconciliation

Revenue per Audited Statements
$841,559
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$841,559
Total Revenue per Form 990
$841,559
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$738,835
Salaries, Compensation, and Employee Benefits$568,069
Grants and Similar Amounts Paid$15,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$246,345$12,965-$259,310
Other Salaries and Wages$180,921$9,522-$190,443
Pension Plan Contributions$86,379$4,546-$90,925
Fees for Services Other$77,753--$77,753
All Other Expenses$60,470$3,181-$63,651
Insurance$55,697$2,931-$58,628
Occupancy$53,470$2,814-$56,284
Interest-$50,874-$50,874
Fees for Services Accounting-$34,390-$34,390
Payroll Taxes$26,021$1,370-$27,391
Office Expenses$17,268$909-$18,177
Information Technology$15,688$826-$16,514
Grants to Domestic Orgs$15,000--$15,000
Travel$13,556$713-$14,269
Fees for Services Legal-$3,120-$3,120
Other Expenses$1,911$101-$2,012
Depreciation Depletion$998$53-$1,051
Conferences and Meetings$523$28-$551
Advertising$464--$464
Total Functional Expenses$1,190,544$131,360$0$1,321,904

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,321,904
Total Expenses per Audited Statements$1,321,904
Total Expenses per Form 990$1,321,904
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Long Island Small Business Assistance CorpHauppauge, NY501(c)(3)Grant for Business Credit Improvement Program$15,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Pension Plan Payable$89,075
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Phyllis hill slater, board member & chairman, is the mother of gina slater parker, president/ceo/board member.”

Form 990, Part VI, Section A, Line 6

“The organization has corporate members who elect the board. There are 21 corporate members and 8 of them sit on the board of directors.”

Form 990, Part VI, Section A, Line 7A

“The organization has corporate members who elect the board of directors.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is prepared by management with the assistance of a third party tax accountant. The president/ceo and board treasurer reviews the draft of the return. The final draft of the return is provided to the organization's audit committee and the executive committee for final review and comments. The return is provided to the full board of directors prior to filing with the irs.”

Form 990, Part VI, Section B, Line 12C

“The conflict of interest policy is reviewed at the annual meeting. A list is provided of all the corporate members and their affiliations. The list is reviewed for potential conflicts or the appearance of conflicts. Members have an affirmative obligation to bring any potential conflicts or the appearance of a conflict to the attention of management and officers for resolution. Also, directors and key employees annually submit a signed conflict of interest disclosure statement, which is reviewed by the audit committee chair who brings any issues to the audit committee and board of directors as appropriate.”

Form 990, Part VI, Section B, Line 15A

“The compensation for the president/ceo was determined based on input by the compensation committee, audit committee, executive committee and ultimate determination by the board of directors.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Long Island Development Corporation
EIN
11-2556172
Phone
5164335000
Address
175 ENGINEERS ROAD NO 200, HAUPPAUGE, NY 11788

Signing Officer

Name
Gina Slater Parker
Title
President and CEO
Phone
5164335000
Signed
2025-08-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gina Slater Parker
Formed
1980
Legal Domicile
Ny
Voting Board Members
8
Independent Board Members
7
Employees
4
Volunteers
12

Preparer

Firm
Anchin Block & Anchin Llp
Address
3 TIMES SQUARE, NEW YORK, NY 10036
Preparer
Adam Rubinfeld
Phone
2128403456
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The organization is a not-for-profit organization that is exempt from income taxes under section 501(c)(3) of the internal revenue code. Lidc conforms to the provisions of asc 740, income taxes, related to accounting for uncertainty in income taxes. Asc 740 prescribes a recognition threshold and related measurement model for recognizing tax positions. For tax benefits to be recognized, a tax position must more likely than not be sustained upon examination by the taxing authorities. No adjustments have been required by lidc for uncertain tax positions. Lidc's income tax returns subsequent to 2016 are currently subject to examination by the taxing authorities.”

Raw XML AppendixShowing 400 of 524 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ProgSrvcAccomActy2Grp/Desc0LONG ISLAND DEFENSE DIVERSIFICATION REVOLVING LOAN FUND:IN 1994 LIDC ENTERED INTO A CONTRACT WITH NEW YORK STATE DEPARTMENT OF ECONOMIC DEVELOPMENT ("NYSDED") TO ADMINISTER A $2.0 MILLION LOAN FUND TO DISBURSE LOANS TO DEFENSE DEPENDENT SMALL BUSINESS MANUFACTURERS USING FUNDS PROVIDED BY THE ECONOMIC DEVELOPMENT ADMINISTRATION ("EDA") UNDER THE U.S. DEPARTMENT OF COMMERCE THROUGH NYSDED. THE FUND WAS INCREASED TO $2.5 MILLION IN 1995. THE USE OF FUNDS WAS EXPANDED TO TARGETED INDUSTRIES (NOTE A-2C). REPAYMENTS OF PRINCIPAL AND INTEREST ALONG WITH INTEREST ON DEPOSITS AND FEES RECEIVED IN CONNECTION WITH THESE LOANS ARE RESTRICTED FOR FUTURE LENDING. INTEREST AND FEES RECEIVED ON OUTSTANDING LOANS FOR THE YEAR ENDED SEPTEMBER 30, 2024 WAS $231,262. IN ADDITION, LIDC MAINTAINS RESERVE DEPOSIT ACCOUNTS FOR SOME OF THE BORROWERS, INTEREST ON WHICH BELONGS TO LIDC. LIDC RECEIVES ADMINISTRATIVE FEES IN CONNECTION WITH THIS PROGRAM WHICH ARE PAID FROM INTEREST AND FEES EARNED UP TO CERTAIN MAXIMUM LIMITS SET BY CONTRACT. FOR THE YEAR ENDED SEPTEMBER 30, 2024, LIDC RECEIVED FROM THE LONG ISLAND DEFENSE DIVERSIFICATION REVOLVING LOAN FUND ADMINISTRATIVE FEES OF $114,884. IN A LETTER DATED JUNE 21, 2022, THE NEW YORK STATE DEPARTMENT OF ECONOMIC DEVELOPMENT REQUESTED THAT EDA RELEASE ITS FEDERAL INTEREST IN INVESTMENT NUMBER 01-49-03291. THE REQUEST WAS GRANTED BY THE EDA TO RELEASE ITS FEDERAL INTEREST IN THE REVOLVING LOAN FUND AWARDS THAT HAVE OPERATED SATISFACTORILY FOR SEVEN YEARS BEYOND DISBURSEMENT OF GRANT FUNDS. THEREFORE, THE LIDC DEFENSE DIVERSIFICATION REVOLVING LOAN FUND WAS GRADUATED TO A LEGACY REVOLVING LOAN FUND.LONG ISLAND FISHERIES ASSISTANCE REVOLVING LOAN FUND:IN SEPTEMBER 1994, LIDC ENTERED A CONTRACT WITH THE NYS DEPARTMENT OF ECONOMIC DEVELOPMENT (NYSDED) AND JOB DEVELOPMENT AUTHORITY (JDA), TO ADMINISTER A $750,000 FUND TO ASSIST COMMERCIAL FISHERMEN AND AQUACULTURE RELATED INDUSTRIES NEGATIVELY IMPACTED BY POLLUTION AND REGULATION ON LONG ISLAND. $500,000 IS FUNDED BY THE US DEPARTMENT OF COMMERCE, ECONOMIC DEVELOPMENT ADMINISTRATION (EDA) THROUGH NYS DED AND $250,000 IS FUNDED BE THE JDA. THE FUNDS ARE USED FOR WORKING CAPITAL AND CAPITAL ASSET LOANS TO ELIGIBLE SMALL BUSINESSES LOCATED ON LONG ISLAND. IN A LETTER DATED JUNE 21, 2022, THE NEW YORK STATE DEPARTMENT OF ECONOMIC DEVELOPMENT REQUESTED THAT EDA RELEASE ITS FEDERAL INTEREST IN INVESTMENT NUMBER 01-19-63003. THE REQUEST WAS GRANTED BY THE EDA TO RELEASE ITS FEDERAL INTEREST IN THE REVOLVING LOAN FUND AWARDS THAT HAVE OPERATED SATISFACTORILY FOR SEVEN YEARS BEYOND DISBURSEMENT OF GRANT FUNDS. THEREFORE, THE LIDC FISHERIES ASSISTANCE REVOLVING LOAN FUND WAS GRADUATED TO A LEGACY REVOLVING LOAN FUND. LIDC RECEIVES ADMINISTRATIVE FEES, SUBJECT TO MAXIMUM LIMITS SET BY THE CONTRACTS. THE ADMINISTRATIVE FEE IS PAID FROM INTEREST AND FEES EARNED IN CONNECTION WITH THE PROGRAM. INTEREST AND FEES RECEIVED ON OUTSTANDING LOANS FOR THE YEAR ENDED SEPTEMBER 30, 2024 WAS $79,508. USE OF INTEREST, PRINCIPAL AND FEES IS RESTRICTED BY CONTRACT. FOR THE YEARS ENDED SEPTEMBER 30, 2024, LIDC RECEIVED FROM THE LONG ISLAND FISHERIES ASSISTANCE REVOLVING LOAN FUND ADMINISTRATIVE FEES OF $38,049.LONG ISLAND TARGETED INDUSTRIES REVOLVING LOAN FUND:IN 1995, LIDC ENTERED INTO AGREEMENTS WITH THE NYS URBAN DEVELOPMENT CORPORATION ("UDC"), NASSAU AND SUFFOLK COUNTIES TO CREATE THE LONG ISLAND WORKING CAPITAL LOAN FUND. THIS FUND WAS TO PROVIDE WORKING CAPITAL LOANS TO TARGETED SMALL BUSINESSES FOR DEFENSE DIVERSIFICATION, INDUSTRIAL MODERNIZATION, AND SPECIAL COMMUNITY PROJECTS. AS OF SEPTEMBER 30, 1999, LIDC HAD RECEIVED $2,000,000 IN LOAN LOSS RESERVE FUNDS FROM UDC ($1,000,000), SUFFOLK COUNTY ($500,000), AND NASSAU COUNTY ($500,000). DURING THE FISCAL YEAR 1999 THE LONG ISLAND WORKING CAPITAL LOAN FUND WAS DISSOLVED AND THE BALANCE OF THE NYS (UDC) LOAN LOSS RESERVE WAS TRANSFERRED INTO THE LONG ISLAND TARGETED INDUSTRY RLF FOR DIRECT LENDING. ELIGIBILITY FOR THE TARGETED
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0637596
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. LIDC CONFORMS TO THE PROVISIONS OF ASC 740, INCOME TAXES, RELATED TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. ASC 740 PRESCRIBES A RECOGNITION THRESHOLD AND RELATED MEASUREMENT MODEL FOR RECOGNIZING TAX POSITIONS. FOR TAX BENEFITS TO BE RECOGNIZED, A TAX POSITION MUST MORE LIKELY THAN NOT BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES. NO ADJUSTMENTS HAVE BEEN REQUIRED BY LIDC FOR UNCERTAIN TAX POSITIONS. LIDC'S INCOME TAX RETURNS SUBSEQUENT TO 2016 ARE CURRENTLY SUBJECT TO EXAMINATION BY THE TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GRANT FOR BUSINESS CREDIT IMPROVEMENT PROGRAM
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0LONG ISLAND SMALL BUSINESS ASSISTANCE CORP
IRS990ScheduleI/RecipientTable/RecipientEIN0113431263
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0175 ENGINEERS ROAD 200
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE FUNDS ARE AUTHORIZED BY THE LIDC BOARD TO FUND THE BUSINESS CREDIT IMPROVEMENT PROGRAM (BCIP). BCIP IS BEING FULLY SERVICED, WITH MONTHLY BILLING, COLLECTIONS, DOWNHOMELOAN MANAGEMENT REPORTS AND ACCOUNT RECONCILIATION.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0GINA SLATER PARKER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/CEO/BOARD MEMBER
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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE PRESIDENT/CEO RECEIVED A HOLIDAY BONUS ON NOVEMBER 24, 2023. THE AMOUNT OF $9,250 WAS DETERMINED AND APPROVED BY THE BOARD.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 7:
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PHYLLIS HILL SLATER, BOARD MEMBER & CHAIRMAN, IS THE MOTHER OF GINA SLATER PARKER, PRESIDENT/CEO/BOARD MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS CORPORATE MEMBERS WHO ELECT THE BOARD. THERE ARE 21 CORPORATE MEMBERS AND 8 OF THEM SIT ON THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HAS CORPORATE MEMBERS WHO ELECT THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS PREPARED BY MANAGEMENT WITH THE ASSISTANCE OF A THIRD PARTY TAX ACCOUNTANT. THE PRESIDENT/CEO AND BOARD TREASURER REVIEWS THE DRAFT OF THE RETURN. THE FINAL DRAFT OF THE RETURN IS PROVIDED TO THE ORGANIZATION'S AUDIT COMMITTEE AND THE EXECUTIVE COMMITTEE FOR FINAL REVIEW AND COMMENTS. THE RETURN IS PROVIDED TO THE FULL BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE CONFLICT OF INTEREST POLICY IS REVIEWED AT THE ANNUAL MEETING. A LIST IS PROVIDED OF ALL THE CORPORATE MEMBERS AND THEIR AFFILIATIONS. THE LIST IS REVIEWED FOR POTENTIAL CONFLICTS OR THE APPEARANCE OF CONFLICTS. MEMBERS HAVE AN AFFIRMATIVE OBLIGATION TO BRING ANY POTENTIAL CONFLICTS OR THE APPEARANCE OF A CONFLICT TO THE ATTENTION OF MANAGEMENT AND OFFICERS FOR RESOLUTION. ALSO, DIRECTORS AND KEY EMPLOYEES ANNUALLY SUBMIT A SIGNED CONFLICT OF INTEREST DISCLOSURE STATEMENT, WHICH IS REVIEWED BY THE AUDIT COMMITTEE CHAIR WHO BRINGS ANY ISSUES TO THE AUDIT COMMITTEE AND BOARD OF DIRECTORS AS APPROPRIATE.

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