The Albany Waterway Inc
Nonprofit profile at a glance
- EIN
- 882772114
- IRS 990-EZ coverage
- 2022–2025
- Forms available
- Form 990-EZ 2025
- Location
- Albany, NY, USA
- Phone
- 5185989985
- Rating
- 96
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Water Resource, Wetlands Conservation and Management
Reported finances
- Revenue
- $134,598
- Expenses
- $128,890
- Assets
- $58,459
Source: IRS Form 990-EZ. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
16 people listed
Executive titles in this filing
- BARTLEY J COSTELLO ESQ (President)
- PAUL GRONDAHL (Vice President)
People named in this filing
- BARTLEY J COSTELLO ESQ (President)
- PAUL GRONDAHL (Vice President)
- CHET OPALKA (Director)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The Corporation is formed to create and realize an inclusive, transformative economic impact in the Capital City of the Empire State and beyond, by introducing the Albany Waterway connecting the Hudson River with the origins of the original Erie Canal.
What it reported doing in 2025
Create and implement a vision of a waterway taking advantage of public support, in order to revitalize The City of Albany.
Operating model
- Revenue model
- Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filed totals do not add up and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 98
- Transparency & Controls: 100
- Sustainability: 38
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 97.4%; rating input score 97
- Program expense ratio: 100%; rating input score 100
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: 4.2%; rating input score 43; 43rd percentile among comparable filings
- Total-asset coverage ratio: 0.45; rating input score 35; 35th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings
Growth
- Program expense growth: 111.1% per year; rating input score 100; 98th percentile among comparable filings
- Revenue growth: 84.3% per year; rating input score 100; 98th percentile among comparable filings
- Asset growth: 55.8% per year; rating input score 100; 94th percentile among comparable filings
Details
- Where the money goes: 97.4% of revenue deployed · 100% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $131K in reported program spending
- Leadership: top reported pay $0 · 16 people listed
- Consistency: 5 of 6 current checks pass · 1 finding to review
- Schedules: 3 filed schedules
- Filing history: 4 filing years from 2022 to 2025
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- 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.
- Moderate — Transparency & Controls: Part III program expenses within total did not reconcile in the filed values.
- Moderate — Sustainability: Operating margin scored 43/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 35/100.