Albany College of Pharmacy and Health Sciences

Nonprofit profile at a glance

EIN
141423161
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Albany, NY, USA
Phone
(518) 694-7200
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Graduate, Professional Schools (Separate Entities)

Official website

Reported finances

Revenue
$67,033,299
Expenses
$68,210,843
Assets
$137,208,166
Liabilities
$35,994,768

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

Leadership & pay

27 people listed

Executive titles in this filing

  • OLUWATOYIN TOFADE (PRESIDENT)
  • MICHELLE LEWIS (EXECUTIVE DIRECTOR CBET)

Highest reported compensation

  • OLUWATOYIN TOFADE (PRESIDENT): $539,129 total reported compensation
  • MICHELLE LEWIS (EXECUTIVE DIRECTOR CBET): $293,077 total reported compensation
  • MICHAEL PASQUARELLA (VP INSTITUTIONAL ADVANCEMENT): $277,071 total reported compensation

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

Overview

Mission

To advance the health of society through education, research, and service.

What it reported doing in 2024

Educational programs: located in albany, New York, albany college of pharmacy and health sciences educates students for careers in health care, pharmacy, health sciences, and the life sciences.the college offers the professional doctor of pharmacy program and bachelor's programs in , biomedical sciences, biotechnology, clinical laboratory sciences, forensic psychology, forensic science, health sciences, microbiology, nursing, pharmaceutical sciences, psychology and public health. Students pursuing the doctor of pharmacy degree also receive a bachelor's degree after their fourth year.in addition, acphs has master's programs in biotechnology (in-person and hybrid), biomedical sciences post-bac (in-person and online), clinical laboratory sciences, cytotechnology & molecular cytology (in-person and hybrid), health data science, molecular biosciences, and pharmaceutical sciences. In addition, students may pursue joint degrees in fields that include medicine, law and business through cooperative agreements with partner institutions. - graduates of the health sciences programs often pursue careers in the biotech, pharmaceutical and medical diagnostic industries or pursue opportunities with government agencies and non-profit organizations. - health sciences graduates are also well positioned to continue their education in graduate programs (master's or phd) as well as professional programs (e.g., medicine and physician assistant studies). - pharmacy graduates enjoy careers in community, clinical, hospital, long-term care and specialty pharmacy, as well as the pharmaceutical industry, health care management and health care information technology.the stack family center for biopharmaceutical education and training (cbet) leverages partnerships with industry, academia and government to advance the industry. It was launched in 2020 to address the rapidly growing need for an educated workforce in the biopharmaceutical field. The center, which relocated to albany's medical corridor adjacent to campus in 2022, provides students with the knowledge and hands-on experience to bring innovative biopharmaceuticals to patients. A purpose-built bioprocessing center, cbet offers a pipeline into industry for middle school through post-graduate levels, including summer camps, the national niimbl experience for underserved students, and community sessions for those seeking to explore industry. Cbet offers contract research services that leverage its cutting-edge biomanufacturing upstream and downstream facilities to support research and development in the biopharmaceutical sector.the center also provides customized industry training tailored to professionals already in the workforce, such as its $1.9m contract with the food and drug administration to develop and deliver a customized mrna-based vaccine training programs for fda employees. These programs offer deep dives into essential techniques for biomanufacturing, with practical, hands-on lab work that helps participants tackle real-world challenges.

Operating model

Revenue model
Earned-program. 91% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 75% for direct work, and 25% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 79
  • Accountability: 92
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.1%; rating input score 98
  • Program expense ratio: 85.8%; rating input score 86
  • Fundraising efficiency: $0.78 raised per $1 spent on fundraising; rating input score 2; 2nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 95%; rating input score 95; 47th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1.8%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 2.01; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 0.26; rating input score 60; 60th percentile among comparable filings
  • Officer compensation ratio: 2.8%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: 3.1% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: 1.3% per year; rating input score 100; 10th percentile among comparable filings
  • Asset growth: 2.2% per year; rating input score 100; 16th percentile among comparable filings

Details

  • What they do: Mission, programs, and operating context captured from the official website.
  • Where the money goes: 98.1% of revenue deployed · 85.8% of spending went to programs
  • Governance: 19 of 20 board members independent · 8 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $58.5M in reported program spending
  • Leadership: top reported pay $539K · 27 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.3M reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 11 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Fundraising efficiency scored 2/100.
  • High — Sustainability: Operating margin scored 20/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.