Allegany County Land Bank Corporation

Analysis

Allegany County Land Bank Corporation is a registered charity in United States, based in Belmont, NY. It received its IRS tax-exemption ruling in April 2019, 7 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 2023, Allegany County Land Bank Corporation reported income of $119k and spending of $129k, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $520k to $119k (-77%), an average of -31% a year. The sharpest change came in the year to December 2021, when income rose by 977%. Over the whole period it spent 101% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Allegany County Land Bank Corporation sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 40th percentile within NY. Charities of a similar size with the same main cause include Vista Gallinas Community Partnership ($119k), Thi-9 ($119k) and High Desert Housing Corporation ($119k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $439k against liabilities of $20k, net assets of $418k.