Long Island Housing Partnership Inc.

“The membership of lihp shall consist of voting and non-voting members pursuant to eligibility and qualifications prescribed by resolutions duly adopted by the board of directors of lihp, or by such rules and regulations as may be prescribed by the board of directors of lihp, from time to time. Such resolutions or rules and regulations adopted by the board of directors of lihp may prescribe, with respect to all members, the amount and manner of imposing and collecting any initiation fees, dues or other fees, assessments, fines and penalties, the manner of suspension or termination of membership, and for reinstatement of membership, and, except as may otherwise be provided, the rights, liabilities and other incidents of membership. The right or interest of a member shall not terminate except upon the happening of any of the following events: death, resignation, expulsion, dissolution or liquidation of lihp.”

“Each director shall be elected by the affirmative vote of a majority of the members at the annual meeting of members at which a quorum is present. Directors who are elected at an annual meeting of the members, and directors who are elected in the interim to fill vacancies and newly created directorships, shall hold office until the next succeeding annual meeting of the members until their successors have been elected and qualified. In the interim between annual meetings or special meetings of members called for the election of directors, newly created directorships and any existing vacancies in the board of directors, including vacancies resulting from the removal of directors for cause, may be filled by the affirmative vote of the majority of the directors then in office, although less than a quorum exists or by the sole remaining director. A director elected to fill a vacancy caused by resignation, death or removal shall be elected to hold office for the unexpired term of his predecessor.”

“Each voting member in good standing shall be entitled to one vote, in person or by proxy, on each matter submitted to a vote of the members. A voting member whose annual contribution (as per anniversary date) is delinquent for six months or more, shall not be in good standing. Any director may be removed for cause by the majority vote of the members entitled to vote, or by vote of the directors provided that a quorum is present at the time such action is taken. The by-laws of lihp shall be subject to alteration or repeal, and new by-laws may be adopted by a majority vote of the board of directors and members entitled to vote in the election of directors, at any regular meeting or at any special meeting.”

“The form 990 is prepared by the finance department 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.”

“Long island housing partnership, inc.'s (lihp) conflict of interest policy is overseen and administered by its audit committee. Lihp 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 lihp. 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.”

“Methods used by lihp to establish and make annual adjustments to the compensation (base salary and bonus, if any) of executive officers (currently, the president & ceo and executive vice president & 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.”

“Methods used by lihp to establish and make annual adjustments to the compensation (base salary and bonus, if any) of non-executive officers (currently, the chief financial officer) include annual performance evaluations and a review of 990 forms of comparable organizations. There are no key employees of lihp. Annual performance evaluations of non-executive officers are completed by the executive officers. Non-executive officers are asked to complete and submit a self-evaluation form to the executive officers. In addition, executive officers may interview staff members that work with, or report to, the non-executive officer being assessed, or may ask such staff members to complete an assessment form on the non-executive officer. Completed self-evaluation forms and staff assessment feedback are utilized in evaluating the non-executive officer's performance. In addition, executive officers may research compensation information from comparable nonprofit organizations to assist in determining annual salary adjustments and bonuses (if any).”

“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.”

“Executive and non-executive officer compensation and related benefits reflected within part vii of form 990 herein represent the entire amount paid to each respective officer for work done on long island housing partnership, inc. (lihp) and work done on the following related organizations: nassau-suffolk partnership housing development company, inc. (nsphdfc), long island partnership housing development company, inc. (liphdfc), long island partnership community development corporation (lipcdc), community development and disaster relief corporation (cddrc), long island housing partnership community development financial institution, inc. (lihpcdfi), and long island partnership clt housing development fund company, inc. (lipclt). Officer compensation and benefits are only paid through the main affiliate organization, lihp. Each related organization reimburses lihp for its respective portion of compensation and benefits on an annual basis, but all compensation or benefits are paid directly by lihp to its officers.”

“Long island housing partnership, inc. (lihp) was created to address the need for and to provide affordable housing opportunities on long island for those who are unable to afford homes, through development, technical assistance, mortgage counseling, homebuyer and fair housing education and lending programs.”

“Lihp, in partnership with the suffolk county land bank (sclb), rehabilitates previously-foreclosed homes utilizing funds provided to the sclb by the new york state attorney generals office. Once renovated, homes are sold to homebuyers who met specific income eligibility requirements and would not otherwise have been able to afford a new home in the market place. Lihp rehabilitated five homes and sold two homes in 2019.”