SCHEDULE M
(Form 990)


Department of the Treasury
Internal Revenue Service
Noncash Contributions
Right pointing arrow large imageComplete if the organizations answered "Yes" on Form 990, Part IV, lines 29 or 30.
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OMB No. 1545-0047
2020
Open to Public Inspection
Name of the organization
LONG ISLAND PARTNERSHIP CLT HOUSING
DEVELOPMENT FUND COMPANY INC
Employer identification number

81-4188947
Part I
Types of Property
(a)
Check if applicable
(b)
Number of contributions or items contributed
(c)
Noncash contribution amounts reported on
Form 990, Part VIII, line 1g
(d)
Method of determining
noncash contribution amounts
1 Art—Works of art ....        
2 Art—Historical treasures .        
3 Art—Fractional interests ..        
4 Books and publications ..      
5 Clothing and household
goods .......
     
6 Cars and other vehicles ..        
7 Boats and planes ....        
8 Intellectual property ...        
9 Securities—Publicly traded .        
10 Securities—Closely held stock .        
11 Securities—Partnership, LLC,
or trust interests ....
       
12 Securities—Miscellaneous ..        
13 Qualified conservation
contribution—Historic
structures .....
       
14 Qualified conservation
contribution—Other ...
       
15 Real estate—Residential . X 6 462,234 SEE PART II SUPPL. INFO.
16 Real estate—Commercial ..        
17 Real estate—Other ...        
18 Collectibles .....        
19 Food inventory ...        
20 Drugs and medical supplies .        
21 Taxidermy ......        
22 Historical artifacts ....        
23 Scientific specimens ..        
24 Archeological artifacts ...        
25 Other Right pointing arrow large image ( )
26 Other Right pointing arrow large image ( )
27 Other Right pointing arrow large image ( )
28 Other Right pointing arrow large image ( )
29
Number of Forms 8283 received by the organization during the tax year for contributions
for which the organization completed Form 8283, Part IV, Donee Acknowledgement
29
 
Yes
No
30a
During the year, did the organization receive by contribution any property reported in Part I, lines 1 through 28, that it must hold for at least three years from the date of the initial contribution, and which isn't required to be used for exempt purposes for the entire holding period? ...................
30a
 
No
b
If "Yes," describe the arrangement in Part II.
31
Does the organization have a gift acceptance policy that requires the review of any nonstandard contributions?
31
 
No
32a
Does the organization hire or use third parties or related organizations to solicit, process, or sell noncash
contributions? ..........................
32a
 
No
b
If "Yes," describe in Part II.
33
If the organization didn't report an amount in column (c) for a type of property for which column (a) is checked,
describe in Part II.
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 51227J
Schedule M (Form 990) (2020)
Page 2
Schedule M (Form 990) (2020)
Page 2
Part IISupplemental Information. Provide the information required by Part I, lines 30b, 32b, and 33, and whether the organization is reporting in Part I, column (b), the number of contributions, the number of items received, or a combination of both. Also complete this part for any additional information.
Return Reference Explanation
SCHEDULE M, PAGE 2, PART II LIPCLT WAS ESTABLISHED WITH THE INTENT OF ACQUIRING AND DEVELOPING OR REHABILITATING MULTIPLE PARCELS OF LAND THROUGHOUT LONG ISLAND AND RETAINING OWNERSHIP OF THESE PARCELS WITHIN ITS LAND TRUST FOREVER. UNDER ITS SHARED-EQUITY MODEL, LIPCLT RETAINS OWNERSHIP OF LAND WITHIN ITS LAND TRUST AND LEASES THE LAND TO HOME BUYERS FOR A RENEWABLE TERM OF 99 YEARS THROUGH A GROUND LEASE AGREEMENT, WHILE THE HOME BUYERS PURCHASE AND HOLD OWNERSHIP INTEREST IN THE PHYSICAL STRUCTURE. THIS ALLOWS INCOME-ELIGIBLE FAMILIES TO PURCHASE HOMES AT BELOW-MARKET PRICES, AND ALLOWS THE PROPERTY TO REMAIN AFFORDABLE IN PERPETUITY. FROM TIME TO TIME, LIPCLT OR ONE OF ITS AFFILIATES RECEIVES DONATED PROPERTIES FROM VARIOUS NEW YORK STATE AND LOCAL MUNICIPALITIES FOR AFFORDABLE HOUSING DEVELOPMENT. IN THE EVENT THAT A PARCEL CANNOT BE DEVELOPED OR SOLD AT A PRICE THAT WOULD BE AFFORDABLE TO A LOW-INCOME FAMILY ON LONG ISLAND, THE PARCEL IS RETURNED TO ITS ORIGINAL DONOR. THEREFORE, NO CONTRIBUTION IS RECOGNIZED ON DONATED PARCELS UNTIL A FINAL CERTIFICATE OF OCCUPANCY (CO) IS OBTAINED ON THE RE-DEVELOPED DWELLING. ONCE A FINAL CO IS ACQUIRED, LIPCLT OR THE AFFILIATE ORGANIZATION THAT OWNS THE PARCEL RECOGNIZES A NON-CASH CONTRIBUTION OF DONATED LAND. THE VALUE OF THE DONATED LAND IS CALCULATED AS THE PRESENT VALUE OF THE MONTHLY GROUND LEASE PAYMENT OVER THE 99-YEAR LEASE TERM UTILIZING THE 30-YEAR U.S. TREASURY RATE AS OF THE DATE THE FINAL CO WAS OBTAINED. DURING 2016 AND 2017, NASSAU/SUFFOLK PARTNERSHIP HOUSING DEVELOPMENT FUND COMPANY, INC. (NSPHDFC), AN AFFILIATE OF LIPCLT, RECEIVED 23 SUPERSTORM SANDY-DAMAGED HOMES FROM NEW YORK STATE AS PART OF ITS NEW YORK RISING REBUILD LONG ISLAND PROJECT. IN 2019, NSPHDFC OBTAINED FINAL COS ON, AND SOLD, TWO OF THESE RE-DEVELOPED UNITS. THE CALCULATED VALUE OF THE DONATED LAND ON THESE TWO PARCELS TOTALED 111,685. SIMULTANEOUS WITH THE SALE OF THE DWELLING TO THE NEW HOME BUYER, OWNERSHIP OF THE LAND WAS TRANSFERRED FROM NSPHDFC TO LIPCLT FOR ZERO CONSIDERATION. AS SUCH, THESE DONATIONS ARE REFLECTED AS RECEIVED FROM NSPHDFC ON SCHEDULES B AND M HEREIN. IN 2018, LIPCLT RECEIVED A DONATED PARCEL FOR AFFORDABLE HOUSING DEVELOPMENT FROM THE INCORPORATED VILLAGE OF PATCHOGUE. THIS HOME WAS REHABILITATED AND SOLD IN 2019 AFTER THE FINAL CO WAS OBTAINED. THE CALCULATED VALUE OF THE DONATED LAND ON THIS PARCEL EQUALED 59,384, AND IS REFLECTED AS A DONATION FROM THE INCORPORATED VILLAGE OF PATCHOGUE ON SCHEDULES B AND M HEREIN.
Schedule M (Form 990) (2020)

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