Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2014.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Who runs it and what they're paid
12 people listed on the 990.
Dan Lloyd’s $8K as Managing Director is at the 5th percentile of top reported officer pay among 1709 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Administers a grant program to foster innovation and economic development on Long Island.
Questions for Accelerate Long Island INC
Your first name shows with your question. Accelerate Long Island INC answers here, for everyone.
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Accelerate ny innovation TC fund, L.P. Is an early stage venture capital firm established on december 7, 2016 by anyitc fund GP, LLC, the general partner, and new york state urban development corporation D/B/A empire state development.
The organization and a group of partners from its founding research institutions participated inmit venture mentor service's immersion program and plan to establish a similar mentorship program on long island.
Ali was awarded a $500,000 grant from new york state empire state development to make working capital grants to technology firms on long island as part of a regional effort to support new technology startup companies and collaborations among long island's research institutions. The program was completed as of december 31, 2015.
By the numbers
The FY2020 990, line by line.
Download 990
| Line | Start FY20 | End FY20 |
|---|---|---|
| Cash and savingsLn 1–2 | $203K | $173K |
| Total assetsLn 16 | $794K | $859K |
| LiabilitiesLn 26 | $824 | $12K |
| Net assetsLn 32 | $793K | $847K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Accounting feesLn 11c | $14K | |||
| Office expensesLn 13 | $4K | |||
| InsuranceLn 23 | $4K | |||
| Total functional expensesLn 25 | $22K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $243K | $230K | $13K | $923K | 990 PDF |
| FY2023 | $186K | $190K | −$5K | $909K | 990 PDF |
| FY2022 | $75K | $29K | $46K | $944K | 990 PDF |
| FY2021 | $75K | $24K | $51K | $898K | 990 PDF |
| FY2020 Viewing | $75K | $22K | $53K | $847K | 990 PDF |
| FY2019 | $300K | $23K | $277K | $793K | 990 PDF |
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Schedules filed Part IV
See the full FY2020 990 (6 parts)
Part I · Summary $75,000 revenue, 12 lines filed
Part VI · Governance 12 of 12 board members independent, 1 to look at
Part VIII · Statement of revenue $75,000 across 2 lines filed
Part IX · Statement of functional expenses $21,649 across 3 lines filed
Part X · Balance sheet $858,773 assets, 12 lines filed
Part XI · Reconciliation of net assets $846,773 net assets at year end
Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File
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