2025-11-14T14:41:10-06:00 2024-12-31 991856619 GRANT THORNTON ADVISORS LLC 757 THIRD AVENUE 9TH FLOOR NEW YORK NY 100172013 990 2024-01-01 113539717 LIA FOUNDATION INC LIAF 6314933000 300 BROADHOLLOW ROAD 110W MELVILLE NY 117474840 MICHELLE BRYNE CFO 6314933000 2025-11-14 1 0 SCOTT THOMPSETT P00741490 2125990100 2024 2025-03-06 01:10:19Z MICHELLE BRYNE 300 BROADHOLLOW ROAD 110W MELVILLE NY 117474840 350375 0 X HTTPS://WWW.LONGISLANDASSOCIATION.ORG/FOUNDATION X 2000 NY WE SUPPORT THE WELL-BEING OF LONG ISLAND COMMUNITIES, BUSINESSES AND THEIR EMPLOYEES. 6 5 0 0 0 0 88500 350375 0 0 0 0 0 0 88500 350375 83000 370875 0 0 0 0 0 0 0 0 0 83000 370875 5500 -20500 377216 32087 346500 21850 30716 10237 X (SEE SCHEDULE O)THE LIA FOUNDATION AIMS TO IMPLEMENT PROGRAMS, HOLD EVENTS, AND CONDUCT RESEARCH THAT FOCUS ON AREAS CRITICAL TO LONG ISLAND'S ECONOMIC DEVELOPMENT, INCLUDING:- SUPPORTING SMALL BUSINESSES- PROTECTING LONG ISLAND'S MOST VULNERABLE RESIDENTS IN NEED - ENCOURAGING WORKFORCE TRAINING TO SUPPORT EMPLOYERS AND THEIR EMPLOYEES- CULTIVATING INNOVATIONTHE FOUNDATION SOLICITS GRANTS AND CONTRIBUTIONS FOR PROJECTS THAT BENEFIT LONG ISLAND. THIS INCLUDES, BUT IS NOT LIMITED TO, GRANTS THAT WOULD IMPLEMENT PROGRAMS TO FURTHER THE LIA'S PRIORITIES TO SUPPORT ECONOMIC GROWTH ON LONG ISLAND, SUCH AS SMALL BUSINESS SUPPORT. THE FOUNDATION PROVIDED $ 370,875 IN SUPPORT TO THE LONG ISLAND ASSOCIATION IN CALENDAR YEAR 2024. 0 0 370875 370875 0 DURING 2024, THE FOUNDATION RELEASED $370,875 OF GRANTS AND SPONSORSHIPS TO SUPPORT VARIOUS LONG ISLAND ASSOCIATION ("LIA") PROGRAMS.IN 2024, THE FOUNDATION RECEIVED GENEROUS SUPPORT FOR ITS INITIAL L.O.C.A.L. SMALL BUSINESS GRANT PROGRAM FROM OPTIMUM BUSINESS, WHICH FUNDED 50 SMALL BUSINESSES ON LONG ISLAND WITH $5,000 GRANTS, AND SUPPORTED THEM WITH PROJECTS LIKE NEW SIGNAGE AND LANDSCAPING, IMPROVING THE INTERIORS OF THE STORES AND PURCHASING EQUIPMENT, AND EXPANDING THEIR MARKETING EFFORTS. THIS PROGRAM WAS IMPLEMENTED IN PARTNERSHIP WITH THE LONG ISLAND AFRICAN AMERICAN CHAMBER OF COMMERCE AND LONG ISLAND HISPANIC CHAMBER OF COMMERCE. 370875 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 5 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X MICHELLE BYRNE 6314933048 300 BROADHOLLOW ROAD MELVILLE NY 11747 MATTHEW COHEN ESQ PRESIDENT & CEO OF LIA 1.00 40.00 X X 0 441146 111745 LAWRENCE WALDMAN CHAIRMAN 1.00 1.00 X X 0 0 0 ROBERT CATELL DIRECTOR 1.00 1.00 X 0 0 0 NEELA MUKHERJEE LOCKEL DIRECTOR 1.00 1.00 X 0 0 0 PAULE T PACHTER DIRECTOR 1.00 1.00 X 0 0 0 DR CHRIS ROSA DIRECTOR 1.00 1.00 X 0 0 0 MICHELLE BYRNE CFO 1.00 40.00 X 0 190564 48243 STACEY SIKES VP OF GOV. AFF. & COMM 1.00 40.00 X 0 273921 13378 0 905631 173366 0 0 1 0 0 350375 350375 350375 0 0 0 370875 370875 370875 370875 0 0 377216 32087 377216 32087 46500 20500 300000 1350 346500 21850 X 716 737 30000 9500 30716 10237 377216 32087 X -20500 21 X 0 1 X 1 0 X X 1 LONG ISLAND ASSOCIATION INC 111617383 10 1 370875 0 1 370875 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 SCHEDULE A, PART IV, SECTION A, LINE 2 THE LIA FOUNDATION'S SUPPORTED ORGANIZATION IS THE LONG ISLAND ASSOCIATION, A SECTION 501(C)(6) MEMBERSHIP ORGANIZATION THAT ADVOCATES FOR THE REGION'S ECONOMIC DEVELOPMENT AND SUPPORTS THE BUSINESS GROWTH OF ITS MEMBERS. THE ASSOCIATION DOES NOT HAVE AN IRS DETERMINATION LETTER CONFERRING IT STATUS UNDER SECTION 509(A)(1) OR (A)(2). NEVERTHELESS, THE ASSOCIATION'S SOURCES OF SUPPORT ARE SUCH THAT IT WOULD MEET THE PUBLIC SUPPORT TESTS UNDER SECTION 509(A)(2). SCHEDULE A, PART IV, SECTION A, LINE 3C AS NOTED IN RESPONSE TO QUESTION 3B, THE LIA FOUNDATION AND THE LONG ISLAND ASSOCIATION SHARE A SIMILAR MISSION AND AN OVERLAPPING BOARD; ACCORDINGLY, ALL AMOUNTS GRANTED FROM THE FOUNDATION TO THE ASSOCIATION MUST BE UTILIZED IN FURTHERANCE OF THE ASSOCIATION'S MISSION TO SPUR ECONOMIC GROWTH IN LONG ISLAND AND TO IMPROVE THE BUSINESS CLIMATE IN THE REGION AND THE MISSION AND GOALS OF THE FOUNDATION. NO AMOUNTS GRANTED BY THE FOUNDATION ARE USED IN A MANNER THAT WOULD CAUSE THE FOUNDATION TO JEOPARDIZE ITS SECTION 501(C)(3) TAX-EXEMPT STATUS. SCHEDULE A, PART IV, SECTION A, LINE 3B THE LIA FOUNDATION IS A SEPARATE 501 C(3) THAT SUPPORTS ITS PARENT ORGANIZATION, THE LONG ISLAND ASSOCIATION INC., A 501 C(6). BOTH ORGANIZATIONS HAVE AN OVERLAPPING BOARD AND SHARE A SIMILAR MISSION. THE LONG ISLAND ASSOCIATION RECEIVES IN EXCESS OF 33 1/3% OF ITS SUPPORT FROM PUBLIC SOURCES AND SATISFIES THE INTERNAL REVENUE CODE SECTION 509(A)(2) PUBLIC SUPPORT TEST. THE ASSOCIATION RECEIVES ITS PRIMARY FUNDING FROM MEMBERSHIP DUES, PROGRAMS AND EVENTS AND GRANT REVENUES; AN INSIGNIFICANT PORTION OF ITS REVENUE IS DERIVED FROM INVESTMENT ACTIVITIES IN ANY GIVEN YEAR. THE MISSION OF THE LONG ISLAND ASSOCIATION FOUNDATION IS TO SUPPORT THE WELL-BEING OF ALL LONG ISLAND COMMUNITIES, BUSINESSES, AND THEIR EMPLOYEES WHICH WILL HELP OUR REGION TO THRIVE AND PROSPER. THE LIA FOUNDATION AIMS TO IMPLEMENT PROGRAMS, HOLD EVENTS, AND CONDUCT RESEARCH THAT FOCUS ON AREAS CRITICAL TO LONG ISLAND'S ECONOMIC DEVELOPMENT, INCLUDING: - SUPPORTING SMALL BUSINESSES - PROTECTING LONG ISLAND'S MOST VULNERABLE RESIDENTS IN NEED - ENCOURAGING WORKFORCE TRAINING TO SUPPORT EMPLOYERS AND THEIR EMPLOYEES - CULTIVATING INNOVATION RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X PART X, LINE 2: LIA FOUNDATION, INC. DOES NOT RECEIVE ITS OWN STANDALONE AUDITED FINANCIAL STATEMENTS; ITS OPERATIONS ARE INCLUDED WITHIN THE FINANCIAL STATEMENTS OF ITS PARENT ORGANIZATION: LONG ISLAND ASSOCIATION, INC. THE FIN-48 FOOTNOTE REPRODUCED BELOW IS FROM THE CONSOLIDATED AUDITED FINANCIAL STATEMENTS. DURING 2023, THE ASSOCIATION ADOPTED ACCOUNTING STANDARDS CODIFICATION ("ASC") 740. ASC 740-10 CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS SECTION PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN BE RECOGNIZED IN THE FINANCIAL STATEMENTS ONLY IF THE POSITION IS "MORE-LIKELYTHAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE ASSOCIATION IS CLASSIFIED AS A TAX-EXEMPT ASSOCIATION UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE (THE "CODE"), WHILE THE FOUNDATION IS CLASSIFIED AS A TAX-EXEMPT ASSOCIATION UNDER SECTION 501(C)(3). NEVERTHELESS, BOTH MAY BE SUBJECT TO TAX ON INCOME UNRELATED TO THEIR RESPECTIVE EXEMPT PURPOSES, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE ADOPTION OF ASC 740-10 DID NOT HAVE A MATERIAL IMPACT ON THE ASSOCIATION'S CONSOLIDATED FINANCIAL STATEMENTS, AS MANAGEMENT DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WITHIN ITS CONSOLIDATED FINANCIAL STATEMENTS. 0 LONG ISLAND ASSOCIATION INC 300 BROADHOLLOW ROAD MELVILLE NY 117474840 111617383 501(C)(6) 370875 0 GENERAL SUPPORT 0 1 PART I, LINE 2: THE FOUNDATION'S PRIMARY EXEMPT MISSION IS TO PROVIDE SUPPORT TO ITS PARENT, THE LONG ISLAND ASSOCIATION. IN 2024, THE FOUNDATION PROVIDED FUNDING FOR THE LONG ISLAND ASSOCIATION'S L.O.C.A.L. SMALL BUSINESS GRANT PROGRAM THROUGH A GRANT FROM OPTIMUM BUSINESS, WHICH FUNDED 50 SMALL LONG ISLAND BUSINESSES WITH 50 GRANTS TO SUPPORT LOCAL COMMUNITIES. NO FURTHER MONITORING OF THE GRANTS WAS REQUIRED, AS BOTH THE FOUNDATION AND THE ASSOCIATION'S LEADERSHIP WORK IN ALIGNMENT TO FULFILL A COMMON MISSION. 0 1 0 0 0 0 0 0 0 MATTHEW COHEN ESQ PRESIDENT & CEO OF LIA 0 383146 0 58000 0 0 0 70654 0 41091 0 552891 0 23000 STACEY SIKES VP OF GOV. AFF. & COMM 0 228921 0 45000 0 0 0 11487 0 1891 0 287299 0 0 MICHELLE BYRNE CFO 0 163564 0 27000 0 0 0 8060 0 40183 0 238807 0 0 PART I, LINE 4B THE PRESIDENT & CEO PARTICIPATES IN A SECTION 457(F) PLAN. IN CALENDAR YEAR 2024, THE ASSOCIATION CONTRIBUTED $3,950 INTO HIS SECTION 457(F) PLAN. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY A NATIONAL TAX FIRM IN CONJUNCTION WITH THE ORGANIZATION'S FINANCIAL DEPARTMENT AND WAS PROVIDED TO THE PRESIDENT/CEO, THE CHAIRMAN AND THE TREASURER OF THE BOARD OF DIRECTORS AND THE CHIEF FINANCIAL OFFICER FOR INITIAL REVIEW. ONCE THE FINAL DRAFT IS COMPLETE, COPIES ARE MADE AVAILABLE TO THE CHAIRMAN OF THE BOARD AND THE TREASURER PRIOR TO ITS FILING WITH THE INTERNAL REVENUE SERVICE (IRS). ONCE FILED WITH THE IRS, COPIES ARE MADE AVAILABLE TO THE EXECUTIVE COMMITTEE AND THE AUDIT AND FINANCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION HAS A CONFLICT OF INTEREST POLICY IN PLACE THAT GOVERNS THE ACTIVITIES OF THE FOUNDATION'S OFFICERS, TRUSTEES AND EMPLOYEES. EACH OFFICER, DIRECTOR, TRUSTEE AND KEY EMPLOYEE IS REQUIRED TO ANNUALLY DISCLOSE ANY CONFLICTS OF INTEREST THAT ARISE BY VIRTUE OF EMPLOYMENT, BOARD SERVICE, OR POSITION WITH THE ASSOCIATION. THESE QUESTIONNAIRES ARE REVIEWED TO ENSURE COMPLIANCE WITH THE FOUNDATION'S CONFLICT OF INTEREST POLICY. NO CONFLICTS HAVE BEEN UNCOVERED WITHIN THE COVERED YEAR; TO THE EXTENT ANY POTENTIAL CONFLICTS ARE FOUND, THE FOUNDATION REVIEWS THEM IMMEDIATELY. THE ASSOCIATION FOLLOWS POLICIES AND PROCEDURES TO ENSURE THAT RELATED-PARTY TRANSACTIONS ARE APPROPRIATELY REVIEWED AND DISCLOSED WITHIN THE AUDITED FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION B, LINE 15 LIA FOUNDATION, INC. DOES NOT COMPENSATE ANY OF THE OFFICERS REPORTED ON THE FORM 990; THAT COMPENSATION IS PAID BY LONG ISLAND ASSOCIATION, INC. (AN AFFILIATED ORGANIZATION). THE PROCESS THAT LIA UNDERTAKES TO DETERMINE COMPENSATION IS AS FOLLOWS: THE FOUNDATION'S PRESIDENT & CEO'S COMPENSATION IS REVIEWED AND APPROVED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. SINCE THE PRESIDENT & CEO SITS ON THE BOARD OF DIRECTORS, HE IS REQUIRED TO RECUSE HIMSELF FROM ANY DISCUSSIONS RELATED TO HIS COMPENSATION. THE PRESIDENT DOES NOT PARTICIPATE NOR DOES HE VOTE ON HIS OWN COMPENSATION. ALL COMPENSATION DECISIONS ARE DOCUMENTED VIA EMAIL AND FORWARDED TO THE CFO. FORM 990, PART VI, SECTION C, LINE 19 THE ASSOCIATION MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC BY RETAINING A COPY AT ITS PLACE OF BUSINESS. THE FORM 990 IS LIKEWISE PUBLISHED ON THE INTERNET AT WWW.GUIDESTAR.ORG. THE ORGANIZATION'S FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT ORDINARILY MADE AVAILABLE TO THE PUBLIC, BUT, IF REQUESTED, WILL BE PROVIDED AT MANAGEMENT'S DISCRETION. FORM 990, PART XI, LINE 9: ROUNDING 21. LONG ISLAND ASSOCIATION INC 300 BROADHOLLOW ROAD MELVILLE NY 117474840 111617383 BUSINESS PROMOTION NY 501(C)(6) 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 LONG ISLAND ASSOCIATION INC B 370875 CASH