The Blake Annex

Nonprofit profile at a glance

EIN
871007976
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Albany, NY, USA
Phone
5185455520
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$447,594
Expenses
$913,839
Assets
$3,001,586
Liabilities
$4,220,140

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

Leadership & pay

6 people listed

Executive titles in this filing

  • PETER GANNON (CEO)

Highest reported compensation

  • PETER GANNON (CEO): $249,200 total reported compensation
  • DAVID BARRON (CFO): $95,734 total reported compensation

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

Overview

Mission

In addition to the dynamic and inspiring workplace experience, the blake annex will break down silos, increase efficiency and capacity, inspire thought leadership, drive creative collisions, and elevate the critical role nonprofits play in building strong communities.

What it reported doing in 2024

An impact-driven coworking community for capital region non-profits to share services and collaborate to create and develop a unique coworking space focused on providing coworking sites as well as educational opportunities, advancement, and support for individuals and companies in the not-for-profit and tax-exempt sectors to stimulate collaborative economic development in economically depressed, high-density, urban areas in the greater capital region of the state of New York.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
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. Expenses are high relative to revenue and some related-organization disclosures are missing.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 61
  • Accountability: 91
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 26th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -104.2%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 3.28; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 1.41; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 4.3%; rating input score 33; 33rd percentile among comparable filings

Growth

  • Program expense growth: 41.9% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 8.1% per year; rating input score 100; 66th percentile among comparable filings
  • Asset growth: 39.8% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 4 of 4 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $914K in reported program spending
  • Leadership: top reported pay $249K · 6 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • Moderate — Sustainability: Officer compensation ratio scored 33/100.