Historic Albany Foundation Inc

Analysis

Historic Albany Foundation Inc is a registered charity in United States, based in Albany, NY. It received its IRS tax-exemption ruling in July 1974, 52 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 August 2023, Historic Albany Foundation Inc reported income of $925k and spending of $474k, leaving 49% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $286k to $925k (+223%), an average of +34% a year. The sharpest change came in the year to August 2022, when income rose by 147%. Over the whole period it spent 54% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Historic Albany Foundation Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 74th percentile within NY. Charities of a similar size with the same main cause include Creative Minds NYC Inc ($925k), Greenbrier Repertory Theatre Company ($925k) and American Dance Competition Inc ($925k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 72% and program service revenue 20% of the total. Other salaries and wages came to $223k. At year end it held assets of $3.6m against liabilities of $1.9m, net assets of $1.7m. It reported 6 employees.