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Long Island High Technology Incubator Inc.

Long Island High Technology Incubator Inc.

Stony Brook, NY
Tax ID11-3059018

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About this organization

Revenue

$1,864,599

Expenses

$1,883,323

Website

lihti.org

Mission

To provide an environment in which new and technologically innovative businesses can develop and promote economic development on Long Island.

About

The utilization of the incubator facilities is intrinsic to the accomplishment of the organization's exempt purpose of economic development of Long Island and the state of New York economy. Approximately thirty-two high technology business organizations are under development in this facility. The organization enhances the success of development companies by providing space at a much lower rate as compared to the market.

Interesting data from their 2019 990 filing

In the filing, the mission of the non-profit is noted as “To provide an environment in which new and technologically innovative businesses can develop and promote economic development on long island.”.

When referring to its responsibilities, they were outlined as: “To provide an environment in which new and technologically innovative businesses can develop and promote economic development on long island.”.

  • The state in which the non-profit is legally registered to operate is NY, as per legal records.
  • According to the non-profit's form, they have 0 employees on their payroll as of 2019.
  • Does not operate a hospital.
  • Does not operate a school.
  • Does not collect art.
  • Does not provide credit counseling.
  • Does not have foreign activities.
  • Is not a donor advised fund.
  • Is not a private foundation.
  • Expenses are greater than $1,000,000.
  • Revenue is greater than $1,000,000.
  • Revenue less expenses is -$18,724.
  • The CEO remuneration plan within the organization is subject to review and approval by an independent source.
  • The organization elects its board members.
  • The organization has 13 independent voting members.
  • The organization was formed in 1989.
  • The organization has a written policy that addresses conflicts of interest.
  • The organization is required to file Schedule O.
  • The organization pays $0 in salary, compensation, and benefits to its employees.
  • The organization pays $0 in fundraising expenses.
  • The organization provides Form 990 to its governing body.
  • The organization has minutes of its meetings.
  • The organization's financial statements were reviewed by an accountant.

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