Albany Barn Inc

Nonprofit profile at a glance

EIN
743186476
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-EZ 2016, Form 990-N 2011
Location
Albany, NY, USA
Phone
5189354858
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Official website

Reported finances

Revenue
$523,222
Expenses
$541,919
Assets
$50,834
Liabilities
$114,248

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • Thomas Thibeault (Vice President)
  • Michael Lorka (President)

Highest reported compensation

  • McCauley Cannizzo (Executive Dir.): $37,417 total reported compensation
  • Casey Polomaine (Director): $27,999 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Albany Barn is dedicated to providing a sustainable creative arts incubator and community arts center in Albany and Schenectady NY a place for artists to live, work and inspire.

What it reported doing in 2024

Albany Barn is dedicated to providing a sustainable creative arts incubator and community arts center in Arbor Hill a place for artists to live, work and inspire.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 86
  • Accountability: 45
  • Sustainability: 18
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.4%; rating input score 79
  • Program expense ratio: 76.7%; rating input score 77
  • Fundraising efficiency: $9.74 raised per $1 spent on fundraising; rating input score 37; 37th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 11th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3.6%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 0.09; rating input score 5; 5th percentile among comparable filings
  • Liabilities to assets ratio: 2.25; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 12.1%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 12.3% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: 13% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: -5% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 79.4% of revenue deployed · 76.7% of spending went to programs
  • Governance: 5 of 10 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $416K in reported program spending
  • Leadership: top reported pay $37K · 10 people listed
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Independent voting board scored 50/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 37/100.
  • High — Sustainability: Operating margin scored 27/100.
  • High — Sustainability: Total-asset coverage ratio scored 5/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.