Overview
What is Albany County Land Bank Corporation?
Albany County Land Bank Corporation is a nonprofit organization situated in Albany, New York. Their primary mission is to handle the acquisition, improvement, and redistribution of vacant and abandoned properties. This initiative aims to eliminate the negative impacts and liabilities associated with such properties, ultimately returning them to productive use. The organization operates in accordance with the municipality's redevelopment and comprehensive plans. During the 2021 reporting period, the Land Bank Corporation acquired 89 properties and sold 188, demonstrating their commitment to revitalizing their community. The organization employs a team of ten individuals in its mission to improve the local landscape.
Official website here: www.albanycountylandbank.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Star rating.
The Albany County Land Bank Corporation has achieved a remarkable score of 96%, reflecting its strong commitment to accountability and financial management. With a Four-Star rating, the organization demonstrates a high level of transparency, as evidenced by its 100% independent board members and robust audit and oversight practices. The organization has also established comprehensive policies regarding conflict of interest, whistleblower protections, and document retention, indicating a solid governance structure.
Financially, the Land Bank exhibits exceptional performance, with a program expense ratio of 91.61%, meaning that the vast majority of its expenditures go directly towards its charitable mission. Furthermore, the low liabilities to assets ratio of 6.46% signifies a stable financial position, allowing the organization to effectively manage its resources and obligations. This financial prudence, paired with effective governance, enhances trust among stakeholders and supporters.
Overall, the Albany County Land Bank Corporation stands out for its strong financial health and commitment to best practices in nonprofit governance. While no major limitations were noted in the available data, continuous monitoring of its operational efficacy will be essential to maintaining its high standards and achieving its mission effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Albany County Land Bank Corporation legitimate?
Albany County Land Bank Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Albany County Land Bank Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $444,339
For more financial information, click here
Official website here: www.albanycountylandbank.org
What is the mission statement of Albany County Land Bank Corporation?
The Albany County Land Bank Corporation aims to streamline the process of acquiring, improving, and redistributing vacant and abandoned properties. The objective is to eliminate the negative impacts and liabilities associated with such properties and transform them back into productive use. This is done while aligning with the municipality's redevelopment and comprehensive plans. During the reporting period of January 1, 2021, to December 31, 2021, the organization acquired 89 properties and sold 188 properties.
Official website here: www.albanycountylandbank.org
Who is the CEO of Albany County Land Bank Corporation?
Adam Zaranko is the Chair of Albany County Land Bank Corporation.
Official website here: www.albanycountylandbank.org
What is the revenue of Albany County Land Bank Corporation?
Albany County Land Bank Corporation's revenue in 2021 was $1,512,121.
Official website here: www.albanycountylandbank.org
Who are the executives of Albany County Land Bank Corporation and what are their salaries?
The average compensation at Albany County Land Bank Corporation during 2021 was $44,434. There are 10 employees and 8 volunteers at Albany County Land Bank Corporation.
Here are 9 key members and their salaries:
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- Compensation: $105,317
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- Other: $5,758
Official website here: www.albanycountylandbank.org
Where can I find the form 990 for Albany County Land Bank Corporation?
Albany County Land Bank Corporation's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.albanycountylandbank.org
Learn more at the official website: www.albanycountylandbank.org
Mission Statement of Albany County Land Bank Corporation
Albany County Land Bank Corporation is an organization dedicated to addressing the issues caused by vacant and abandoned properties in a manner consistent with the municipality's redevelopment and comprehensive plans. Their primary mission is to facilitate the process of acquiring, improving, and redistributing these properties. By eliminating the harms and liabilities associated with these properties, they aim to return them to productive use. This initiative not only benefits the community by removing potential hazards but also contributes to the overall development of the municipality. During the 2021 reporting period, the organization acquired 89 properties and sold 188, demonstrating their active involvement in this mission.
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Impact
July, 2024
Albany County Land Bank Corporation's impact lies in its crucial role in revitalizing neighborhoods by acquiring, improving, and redistributing vacant and abandoned properties. By eliminating the harms and liabilities associated with such properties and returning them to productive use, the organization contributes to the overall improvement of the community. During the reporting period of 1/1/21 - 12/31/21, the organization acquired 89 properties and sold 188 properties, showcasing its active involvement in addressing housing issues and promoting neighborhood redevelopment in Albany, NY. Its mission to align with the municipality's redevelopment and comprehensive plans further solidifies its significance in contributing to the local area's growth and prosperity.
This information is meant to be a general summary of Albany County Land Bank Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2021.
- Investment Income: $1,049
- Program Service Revenue: $600
- Gross Receipts: $4,064,321
Assets and Liabilities:
- Total Assets: $10,389,467
- Total Liabilities: $671,500
- Net Assets: $9,717,967
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEE INCOME
Revenue
$600
Organization Details
Founding Year
2014
Phone
(518) 407-0309Principal Officer
Adam Zaranko
Main Address
69 STATE STREET 8TH FLOOR, ALBANY, NY, 12207
Website
www.albanycountylandbank.orgNTEE Category
Code: L25 - Housing
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