Capitalize Albany Corporation

Analysis

Capitalize Albany Corporation is a registered charity in United States, based in Albany, NY. It received its IRS tax-exemption ruling in December 1981, 45 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, Capitalize Albany Corporation reported income of $3.8m and spending of $2.0m, leaving 47% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $5.6m to $3.8m (-31%), an average of -9.0% a year. The sharpest change came in the year to December 2022, when income rose by 128%. Over the whole period it spent 56% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Capitalize Albany Corporation sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 88th percentile within NY. Charities of a similar size with the same main cause include Washington State Microenterprise Association ($3.8m), Macedonia Family and Community Enrichment Center ($3.8m) and Susquehanna Heritage Corporation ($3.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 65% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $688k (34% of expenses). Other salaries and wages came to $314k. At year end it held assets of $24.8m against liabilities of $5.8m, net assets of $19.0m. It reported 10 employees.