Albany County Land Bank Corporation

Nonprofit profile at a glance

EIN
471646099
IRS 990 coverage
2015–2021
Forms available
Form 990 2021
Location
Albany, NY, USA
Phone
5184070309
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Rehabilitation

Official website

Reported finances

Revenue
$1,512,121
Expenses
$2,269,441
Assets
$10,389,467
Liabilities
$671,500

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • ADAM ZARANKO (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ADAM ZARANKO (EXECUTIVE DIRECTOR): $111,075 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The albany county land bank facilitates the process of acquiring, improving and redistributing vacant and abandoned properties to eliminate the harms and liabilities caused by such properties and return them to productive use, while being consistent with the municipality's redevelopment and comprehensive plans.

What it reported doing in 2021

The albany county land bank facilitates the process of acquiring, improving and redistributing vacant and abandoned properties to eliminate the harms and liabilities caused by such properties and return them to productive use, while being consistent with the municipality's redevelopment and comprehensive plans. For the 1/1/21 - 12/31/21 reporting period, the organization acquired 89 properties and sold 188 properties.

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.
  • 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. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 92
  • Accountability: 95
  • Sustainability: 37
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.4%; rating input score 74
  • Program expense ratio: 91.6%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -50.1%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 4.58; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: 4.9%; rating input score 55; 55th percentile among comparable filings

Growth

  • Program expense growth: 16% per year; rating input score 100; 80th percentile among comparable filings
  • Revenue growth: -12.3% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 7.1% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 74.4% of revenue deployed · 91.6% of spending went to programs
  • Governance: 8 of 8 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.1M in reported program spending
  • Leadership: top reported pay $111K · 9 people listed
  • Highest-paid contractors: 3 contractors listed · $689K reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 6 filing years from 2015 to 2021
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • Review — Sustainability: Liabilities to assets ratio scored 50/100.
  • Review — Sustainability: Officer compensation ratio scored 55/100.