2024-11-14T07:50:02-06:00 2023-12-31 161092347 MENGEL METZGER BARR & CO LLP 11 BRITISH AMERICAN BLVD LATHAM NY 12110 990 2023-01-01 222908723 ALBANY COMMUNITY LAND TRUST ALBA 5184261296 255 ORANGE STREET ALBANY NY 12210 SUSAN COTNER EXECUTIVE DIRECTOR 5184261296 2024-11-13 1 1 ALAN W CLINK CPA P01256785 5187850134 2023 2024-10-15 13:58:12Z SUSAN COTNER 255 ORANGE STREET ALBANY NY 12210 1294107 0 X WWW.ALBANYCLT.COM X 1987 NY PRESERVING AND MAINTAINING AFFORDABLE HOUSING FOR LOW INCOME AND DISADVANTAGED INDIVIDUALS AND FAMILIES IN ALBANY, NEW YORK. 9 9 1 2 0 0 465563 532154 551196 566041 36321 36443 1077 20912 1054157 1155550 0 268500 0 0 9281 8612 0 0 0 1180067 745312 1189348 1022424 -135191 133126 3293149 3586111 1676857 1836693 1616292 1749418 X PRESERVE AND MAINTAIN AFFORDABLE HOUSING FOR LOW INCOME AND DISADVANTAGED INDIVIDUALS AND FAMILIES IN ALBANY, NEW YORK. 1 0 58685 566041 ACLT ACQUIRES AND REHABILITATES VACANT BUILDINGS IN THE LOW-INCOME ALBANY NEIGHBORHOODS OF WEST HILL, ARBOR HILL AND THE SOUTH END. ACLT USES LOANS AND GRANT RESOURCES TO BRING THE PROPERTIES BACK TO PRODUCTIVE USE AND CONTINUES TO OWN AND MANAGE THESE PROPERTIES AS AFFORDABLE RENTAL PROPERTIES. IN 2023, 60 FAMILIES WERE HELPED FROM THIS PROGRAM. 614567 ACLT'S HOMEOWNERSHIP PROGRAM INVOLVES THE ACQUISITION AND RENOVATION OF A HOME BEFORE SELLING IT TO THE HOMEBUYER. ACLT USES FINANCING AND SUBSIDIES FROM A VARIETY OF SOURCES TO COMPLETE THE REHABILITATION. ACLT RETAINS TITLE TO THE LAND UNDER LAND TRUST PROVISIONS. THE LAND IS THEN LEASED TO THE HOMEBUYER FOR A NOMINAL AMOUNT. ANY FUTURE SALE OF THE RESIDENCE MUST BE TO ANOTHER QUALIFIED HOMEOWNER OR ACLT RETAINS THE RIGHT TO RE-ACQUIRE THE BUILDING AT A PURCHASE PRICE SPECIFIED IN THE LAND LEASE AGREEMENT. THIS ENSURES THAT THE RESIDENCE WILL BE OWNED BY AN APPROVED FAMILY THAT WOULD HAVE MET THE ORIGINALLY DESIGNATED CRITERIA FOR HOMEOWNERSHIP AS DESIGNATED UNDER THE PROGRAM ADMINISTERED BY ACLT. AS OF DECEMBER 31, 2023, 39 FAMILIES HAVE BEEN HELPED BY THIS PROGRAM. 278812 268500 THE ALBANY COMMUNITY LAND TRUST IS A PROGRAM PARTICIPANT IN THE NYS DIVISION OF CRIMINAL JUSTICE SERVICE'S PROJECT RISE (RESPOND, INVEST, SUSTAIN, EMPOWER) PROGRAM. DCJS PROVIDED $500,000 IN AN 18 MONTH CONTRACT (STARTING JANUARY 2023) TO ACLT TO SUPPORT COMMUNITYBASED INITIATIVES TO ADDRESS GUN VIOLENCE. DCJS APPROVED PASS THROUGH GRANTS TO 3 SUBGRANTEES FOR A TOTAL OF $210,000, AND ACLT RETAINED $290,000 FOR IMPLEMENTATION OF PROGRAMS SUCH AS WORKFORCE DEVELOPMENT, PEER MENTORING, MENTAL HEALTH SERVICES AND COMMUNITY BUILDING ACTIVITIES. 952064 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 43 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NY X X SUSAN COTNER 5184261296 255 ORANGE STREET ALBANY NY 12210 METORCERY WILSON BOARD MEMBER 1.00 X 0 0 0 JAMES WAUGAMAN BOARD MEMBER 1.00 X 0 0 0 MARTHA CODIO BOARD MEMBER 1.00 X 0 0 0 NISHAEA RICHARDSON BOARD MEMBER 1.00 X 0 0 0 PATRICIA BLUNT-BEY BOARD MEMBER 1.00 X 0 0 0 APRECIA CABEY PRESIDENT 2.00 X X 0 0 0 HERB MCLAUGHLIN VICE PRESIDENT 1.00 X X 0 0 0 NEIL HANNAN TREASURER 2.00 X X 0 0 0 ROGER MARKOVICS SECRETARY 10.00 X X 0 0 0 SUSAN COTNER EXECUTIVE DIRECTOR 20.00 X 8000 0 0 8000 0 0 0 0 0 0 0 489770 42384 532154 PROPERTY RENTAL AND RE 532000 566041 566041 566041 175000 138557 36443 36443 36443 GAIN FROM INSURANCE CL 900099 20871 20871 OTHER REVENUE 900099 41 41 20912 1155550 566041 0 57355 268500 268500 8000 8000 612 612 85517 85517 17700 17700 19700 19700 1292 449 843 7235 7235 1500 1500 57494 57481 13 155119 155119 83057 75446 7611 REPAIRS, MAINTENANCE & 226267 226267 UTILITIES 43472 43472 PROGRAM DIRECTOR CONTRA 33418 27726 5692 MISCELLANEOUS/OTHER EXP 9272 8095 1177 4269 2492 1777 1022424 952064 70360 0 96012 142157 38512 27355 169017 191196 47727 11791 10847 1359 4644621 1432368 2931034 3212253 3293149 3586111 226440 290976 49752 114087 1357603 1387568 43062 44062 1676857 1836693 X 1104958 1277418 511334 472000 1616292 1749418 3293149 3586111 133126 0 X 0 1 X 1 0 X 577277 728125 392202 465563 532154 2695321 705371 511855 539096 551196 566041 2873559 1282648 1239980 931298 1016759 1098195 5568880 0 244031 18069 74304 54348 45978 436730 244031 18069 74304 54348 45978 436730 5132150 1892 5879 326 807 41 8945 1284540 1245859 931624 1017566 1098236 5577825 0.92010 0.90370 0.00000 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER REVENUE - 2019 AMOUNT: $ 1,892. 2020 AMOUNT: $ 5,879. 2021 AMOUNT: $ 326. 2022 AMOUNT: $ 807. 2023 AMOUNT: $ 41. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 204000 204000 4426223 1417970 3008253 14398 14398 0 3212253 SECURITY DEPOSITS 44062 44062 X 1170550 15000 15000 1155550 0 1155550 1037424 15000 15000 1022424 0 1022424 PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY ACLT AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN TAX POSITION THAT MORE THAN LIKELY WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. FOR THE YEAR ENDED DECEMBER 31, 2023, MANAGEMENT HAS EVALUATED THE TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING ACLT'S INFORMATION RETURNS AND IS NOT AWARE OF ANY EVENTS THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS. THEREFORE, NO LIABILITY OR PROVISION FOR INCOME TAX HAS BEEN REFLECTED IN THE ACCOMPANYING FINANCIAL STATEMENTS. 0 HOODS HOUSE OF HOOPS 87000 0 PASS-THROUGH GRANT FROM DCJS THE BABY INSTITUTE INC 33000 0 PASS-THROUGH GRANT FROM DCJS FRANK CHAPMAN MEMORIAL INSTITUTE 17000 0 PASS-THROUGH GRANT FROM DCJS 3 FORM 990, PART III, LINE 2 NYS DIVISION OF CRIMINAL JUSTICE SERVICE'S PROJECT RISE (RESPOND, INVEST, SUSTAIN, EMPOWER) PROGRAM INITIATED IN JANUARY 2023. FOR ADDITIONAL INFORMATION SEE PART III, LINE 4C. FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IS AVAILABLE TO EVERYONE 16 YEARS OF AGE OR OLDER WHO HAS ATTENDED AT LEAST ONE MEETING, SIGNED A WRITTEN STATEMENT EXPRESSING SUPPORT FOR THE ORGANIZATION'S MISSION, AND PAYS A MINIMAL ANNUAL FEE AS SET BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ANNUALLY ELECT DIRECTORS TO CARRY OUT THE PURPOSES OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B AS PART OF THE ANNUAL AUDIT, OUR INDEPENDENT CERTIFIED PUBLIC ACCOUNTING FIRM PREPARES FORM 990 AND RELATED SUPPORTING SCHEDULES FROM OUR INTERNAL RECORDS. WE DESIGNATE AN INDIVIDUAL/INDIVIDUALS WITH SUITABLE SKILL, KNOWLEDGE OR EXPERIENCE TO OVERSEE THESE SERVICES AND WE MAKE ALL MANAGEMENT DECISIONS AND PERFORM ALL MANAGMENT FUNCTIONS. THE EXECUTIVE DIRECTOR AND BOARD TREASURER REVIEW FORM 990 PRIOR TO SUBMISSION TO THE IRS. WE HAVE REVIEWED, APPROVED, AND ACCEPTED RESPONSIBILITY FOR FORM 990 AND THE RELATED SCHEDULES AND BELIEVE THEY ARE ADEQUATELY SUPPORTED BY THE BOOKS AND RECORDS OF ACLT. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO ANNUALLY DISCLOSE AND DOCUMENT (IN MINUTES) ANY CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE DIRECTOR IS THE ONLY ALBANY COMMUNITY LAND TRUST EMPLOYEE. COMPENSATION IS REVIEWED AND APPROVED BY THE FINANCE COMMITTEE USING THEIR KNOWLEDGE OF THE COMPENSATION PRACTICES OF OTHER NOT-FOR-PROFIT ORGANIZATIONS IN THE CAPITAL REGION AREA. THE RECOMMENDED SALARY IS INCORPORATED INTO THE ANNUAL BUDGET WHICH IS REVIEWED AND ADOPTED BY THE BOARD OF DIRECTORS. NO MEMBER OF THE BOARD OF DIRECTORS RECEIVES COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, ETC. ARE AVAILABLE UPON REQUEST AT ACLT'S OFFICE DURING NORMAL BUSINESS HOURS. AFFORDABLE HOUSING PARTNERSHIP OF THE CAPITAL REGION INC 255 ORANGE STREET ALBANY NY 12210 141724900 STRENGTHEN NEIGHBORHOODS AND FINANCIAL INDEPENDENCE OF RESIDENTS NY 501(C)(3) LINE 7 N/A 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 0 0