Lia Foundation
Public records show a registered, tax-exempt organization in good standing.
What it says it does
(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.
- Income
- $350,375
- Spending
- $370,875
- Spent on programs
- 100%
- Reserves
- 0 months of spending
- Largest source of income
- donations and private grants, 100%
- Employees
- 0
- Volunteers
- 0
- Highest pay
- $552,891, president & ceo of lia
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Weak: 43 out of 100. Higher than 13% of charities in its peer group (community improvement, $250k to $1m).
Reserves
4 of 35Spendable reserves would cover 0.0 months of spending.
Debt
5 of 20It owes 68% of what it owns.
Living within its means
4 of 15Spending exceeded income by 6% of income.
Income trend
15 of 15Income rose 296% on the year before.
Spending floor
15 of 15100% of spending went to programs and raising each dollar of donations cost 0 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 95 out of 100. Higher than 86% of charities in its peer group (community improvement, $250k to $1m).
Independent board
25 of 255 of 6 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
0 of 5Reports no independent review process for its chief executive's pay.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- $370,875 spent. 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.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since July 2000.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.
Could it be confused with another charity? Worth knowing.
A much larger organization has a similar name: Asia Foundation (San Francisco, CA), EIN 94-1191246. If that is the one you meant, check the EIN before giving.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.