Downtown Albany Restoration Program Inc

Analysis

Downtown Albany Restoration Program Inc is a registered charity in United States, based in Albany, NY. It received its IRS tax-exemption ruling in July 1997, 29 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Downtown Albany Restoration Program Inc reported income of $1.2m and spending of $1.2m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.2m (+9.9%), an average of +2.4% a year. The sharpest change came in the year to December 2023, when income rose by 20%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downtown Albany Restoration Program Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include Nra Iatse Local 720 Training Trust Fund ($1.2m), Northern Valley Industries Inc ($1.2m) and Justice League of Food ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $127k (11% of expenses). Other salaries and wages came to $270k. At year end it held assets of $1.0m against liabilities of $91k, net assets of $950k. It reported 6 employees.