Albany County Land Bank Corporation

Analysis

Albany County Land Bank Corporation is a registered charity in United States, based in Albany, NY. It received its IRS tax-exemption ruling in June 2015, 11 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 2021, Albany County Land Bank Corporation reported income of $1.5m and spending of $2.3m, spending 150% of what it took in. Across the 4 years on record, from December 2018 to December 2021, income grew from $194k to $1.5m (+678%), an average of +98% a year. The sharpest change came in the year to December 2019, when income rose by 2450%. Over the whole period it spent 89% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Albany County Land Bank Corporation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 80th percentile within NY. Charities of a similar size with the same main cause include Long Island Partnership CLT Housing Development Fund Company Inc ($1.5m), Compass Realty & Construction Group ($1.5m) and Arastradero Park Apartment Corporation ($1.5m).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 185% and program service revenue 0.0% of the total. Other salaries and wages came to $444k. At year end it held assets of $10.4m against liabilities of $672k, net assets of $9.7m. It reported 10 employees.