Long Island Partnership Housing Development Fund Co Inc.

“Prior to the form 990 being filed, the form 990 is reviewed and approved by our treasurer, an independent member of the board of directors, then distributed to the full board.”

“Long island partnership housing development fund company, inc. (liphdfc) 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 liphdfc. This is to be completed by all incoming officers, directors, representatives of directors (at board meetings) and key employees, upon 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 liphdfc management.”

“The current officer evaluation process is used to establish the compensation (base salary and bonus, if any) of the executive officers (currently the president and vice president). The compensation committee consists of the board chairman, vice chairman, secretary, treasurer, and up to two additional independent board members. Each of the executive officers completes a "self evaluation form". In addition, each executive officer will have at least two staff members who work with or report directly to that executive officer, complete a "staff assessment form". The forms are submitted to the compensation committee for review. In addition, the compensation committee may conduct interviews with the executive officers. The compensation committee also reviews compensation of the executive officers for other similar organizations. The final combined evaluations are reviewed by the chairman of the compensation committee, who submits a report on the compensation committee recommendations to the full board of directors. The full board of directors votes on and approves the final compensation of the executive officers.”

“Liphdfc's governing documents, conflict of interest policy, and audited financial statements are all made available upon request. The financial statements with auditor's opinion are published in the annual reports, on a combined basis. The most recent year's audited financial statements, as well as the annual reports are available on lihp's website at www.lihp.org.”

“In 2014, long island partnership housing development fund company, inc. Restructured its audit and finance committee into two separate and distinct committees to ensure compliance with the new york nonprofit revitalization act of 2013. All other audit oversight and committee processes remained the same.”