Long Island Development Corporation
Long Island Development Corporation
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About this organization
Mission
To assist small businesses/nfp entities with loans & technical assistance.
About
LIDC was certified by US Small Business Administration (SBA) in 1980 to make loans under Section 503 (now 504) to small businesses for acquisition and renovation of capital assets- up to 40% of project cost in a subordinate loan position. LIDC no longer provides these loans directly, but works with New York State Empire State Development and New York Business Development Corporation to refer and service SBA 504 loans with them.
Interesting data from their 2020 990 filing
The non-profit's aim, as indicated in the filing, is “Economic development - to assist small businesses and not-for-profit entities with loans and technical assistance.”.
When referring to its functions, they were specified as: “To assist small businesses/nfp entities with loans & technical assistance.”.
- The non-profit has reported their operating state as NY, as required by law.
- As stated in the filing, the non-profit's address in 2020 was 175 ENGINEERS ROAD NO 200, HAUPPAUGE, NY, 11788.
- The non-profit's form reports a total of 7 employees as of 2020.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is between $500,000 and $1,000,000+.
- Revenue less expenses is -$192,764.
- The organization has 9 independent voting members.
- The organization was formed in 1980.
- The organization pays $564,093 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.