Nonprofit · EIN 14-1823014
518 ELEVATED INC
Tax-exempt · ALBANY, NY 12205
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $584,505 | $587,391 | -$2,886 | $2,073,997 | $22,101 | $2,051,896 |
| June 30, 2024 | 990 | $454,437 | $512,894 | -$58,457 | $1,986,292 | $30,756 | $1,955,536 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $437,514
- Program service revenue
- $8,329
- Investment income
- $138,662
- Net gain from sales of assets
- $95,253
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $122,614
- Compensation of officers, directors and key employees
- $83,230
- Other salaries and wages
- $119,641
- Salaries, compensation and benefits (total)
- $269,058
- Professional fundraising fees
- $0
- Accounting fees
- $7,612
- Occupancy
- $12,600
- Travel
- $6,157
- Depreciation
- $735
- Program services (functional)
- $436,617
- Management and general (functional)
- $96,517
- Fundraising (functional)
- $54,257
Balance sheet and other
- Total assets, start of year
- $1,986,292
- Total assets, end of year
- $2,073,997
- Total liabilities, end of year
- $22,101
- Net assets, end of year
- $2,051,896
- Publicly traded securities
- $1,916,335
- Net assets without donor restrictions
- $424,859
- Net assets with donor restrictions
- $1,627,037
- Gross receipts
- $1,184,806
- Employees
- 9
- Volunteers
- 122
- Year formed
- 1996
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| PETER LEWIS GABAK | EXECUTIVE DI Trustee or director | 40 | $47,011 |
| LAURA MARX | FORMER EXEC Former | 40 | $19,280 |
| TERRACE KREMER | CHAIR Trustee or director, Officer | 1 | $0 |
| AMY GRABEK | VICE CHAIR Trustee or director, Officer | 1 | $0 |
| FAREEZA ISLAM HANIF | TREASURER Trustee or director, Officer | 1 | $0 |
| ALEXANDRIA CARVER | SECRETARY Trustee or director, Officer | 1 | $0 |
| JEFFREY A COHN | DIRECTOR Trustee or director | 1 | $0 |
| CHRYESSE WELLS | DIRECTOR Trustee or director | 1 | $0 |
| JENYCE MOSES AONDONA | DIRECTOR Trustee or director | 1 | $0 |
| KAWEEDA G ADAMS | DIRECTOR Trustee or director | 1 | $0 |
| KATE FLEMING | DIRECTOR Trustee or director | 1 | $0 |
| AMY PAPANDREA | DIRECTOR Trustee or director | 1 | $0 |
| GREG BARCOMB | DIRECTOR Trustee or director | 1 | $0 |
| DAYONNA BOWLES | DIRECTOR Trustee or director | 1 | $0 |
| SARAH BURNS | DIRECTOR Trustee or director | 1 | $0 |
16 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TOYIN TOFADE | DIRECTOR Trustee or director | 1 | $0 |
| LEVAR HOLMES | DIRECTOR Trustee or director | 1 | $0 |
| MIKE WALSH | DIRECTOR Trustee or director | 1 | $0 |
| EMELIA CARLINO | DIRECTOR Trustee or director | 1 | $0 |
| F MICHAEL ZOVISTOSKI CPA CFP | DIRECTOR Trustee or director | 1 | $0 |
| KEVIN J BOTTINI CPA | DIRECTOR Trustee or director | 1 | $0 |
| ROSS GOODMAN ESQ | PROGRAM COMM Trustee or director | 1 | $0 |
| SEAN OGDEN | GOV COMMITTE Trustee or director | 1 | $0 |
| JENNIFER MILLER | FUND DEV CHA Trustee or director | 1 | $0 |
| ERIC SCARINGE | FINANCE COMM Trustee or director | 1 | $0 |
| DAN FOGARTY | MEMBER-AT-LA Trustee or director | 1 | $0 |
| ZULAIKA RODRIGUEZ | MEMBER-AT-LA Trustee or director | 1 | $0 |
| TAMMY THOMAS | MEMBER-AT-LA Trustee or director | 1 | $0 |
| MARK SPIERS | MEMBER-AT-LA Trustee or director | 1 | $0 |
| CASSI FORTNEY | MEMBER-AT-LA Trustee or director | 1 | $0 |
| SCOTT LED DUKE | MEMBER-AT-LA Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 32 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| LAURA MARX | EXECUTIVE DI Former | 40 | $64,858 |
| PETER LEWIS GABAK | EXECUTIVE DI Trustee or director | 40 | $0 |
| JEFFREY A COHN | CHAIR Trustee or director, Officer | 1 | $0 |
| TERRENCE KREMER | VICE CHAIR Trustee or director, Officer | 1 | $0 |
| FAREEZA ISLAM HANIF | TREASURER Trustee or director, Officer | 1 | $0 |
| ALEXANDRIA CARVER | SECRETARY Trustee or director, Officer | 1 | $0 |
| CHRYESSE WELLS | DIRECTOR Trustee or director | 1 | $0 |
| PAUL COLLINS-HACKET | DIRECTOR Trustee or director | 1 | $0 |
| JENYCE MOSES AONDONA | DIRECTOR Trustee or director | 1 | $0 |
| AMY GRABEK | DIRECTOR Trustee or director | 1 | $0 |
| DEAN SKARLIS | DIRECTOR Trustee or director | 1 | $0 |
| KAWEEDA G ADAMS | DIRECTOR Trustee or director | 1 | $0 |
| SEAN OGDEN | DIRECTOR Trustee or director | 1 | $0 |
| KATE FLEMING | DIRECTOR Trustee or director | 1 | $0 |
| AMY PAPANDREA | DIRECTOR Trustee or director | 1 | $0 |
| GREG BARCOMB | DIRECTOR Trustee or director | 1 | $0 |
| DAYONNA BOWLES | DIRECTOR Trustee or director | 1 | $0 |
| EMELIA CARLINO | DIRECTOR Trustee or director | 1 | $0 |
| ROSS GOODMAN ESQ | PROGRAM CHAI Trustee or director | 1 | $0 |
| JENNIFER MILLER | FUND DEV CHA Trustee or director | 1 | $0 |
| ERIC SCARINGE | FINANCE CHAI Trustee or director | 1 | $0 |
| STEPHEN QUICKENTON | MENTOR REP Trustee or director | 1 | $0 |
| KEVIN J BOTTINI CPA | EMERITUS DIR Trustee or director | 1 | $0 |
| F MICHAEL ZOVISTOSKI CPA CFP | EMERITUS DIR Trustee or director | 1 | $0 |
| GERALDINE GOLUB | EMERITUS DIR Trustee or director | 1 | $0 |
| KEVIN M REILLY | EMERITUS DIR Trustee or director | 1 | $0 |
| HON PATRICK MADDEN | ADVISORY DIR Trustee or director | 1 | $0 |
| HON GARY MCCARTHY | ADVISORY DIR Trustee or director | 1 | $0 |
| HON KATHY M SHEEHAN | ADVISORY DIR Trustee or director | 1 | $0 |
| RONALD G DUNN ESQ | ADVISORY DIR Trustee or director | 1 | $0 |
| JOHN HOCHREITER | ADVISORY DIR Trustee or director | 1 | $0 |
| RYAN MEIKLE | ADVISORY DIR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 1218 CENTRAL AVENUE, ALBANY, NY 12205-5313
- Principal officer (990 for 2024)
- PETER LEWIS GABAK, 1218 CENTRAL AVENUE SUITE 203, ALBANY, NY 12205
- Signed the 990
- PETER LEWIS GABAK, EXECUTIVE DIRECTOR
- Phone
- (518) 935-1045
- Website
- WWW.518ELEVATED.ORG
- Return prepared by
- CUSACK & COMPANY CPAS LLC
Mission
TO PROVIDE SPECIALIZED PROGRAMS, MENTORING, PROFESSIONAL GUIDANCE, AND ACADEMIC AND FINANCIAL SUPPORT FOR QUALIFYING HIGH SCHOOL STUDENTS IN THE CAPITAL REGION. BY ASSEMBLING A NETWORK OF BUSINESS LEADERS, EDUCATIONAL ADVOCATES, AND DEDICATED VOLUNTEERS, PROMISING YOUTH ARE PROVIDED OPPORTUNITY AND ACCESS TO HIGHER EDUCATION THAT MAY BE OTHERWISE UNAVAILABLE.
Program accomplishments
- EXPENSES INCURRED FOR: RECRUITING, TRAINING, MATCHING, AND SUPPORTING MENTORS; WORKSHOPS AND COLLEGE PREPARATION ACTIVITIES FOR HIGH SCHOOL SCHOLARS; AND ASSISTANCE PROVIDED TO SCHOLARS THROUGHOUT HIGH SCHOOL, INCLUDING STIPEND DISTRIBUTION. THE ORGANIZATION SERVES ANYWHERE FROM 80-90 STUDENTS IN THE ALBANY, SCHENECTADY, AND TROY CITY SCHOOL DISCTRICTS AND APPROXIMATELY 160 COLLEGE STUDENTS.Expenses $436,617 · grants $122,614 · revenue $8,329
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 14-1823014
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2001
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B82)
- Assets (IRS master file)
- $2,073,997
- Income (IRS master file)
- $1,184,806
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $584,505 | $587,391 | $2,073,997 | IRS |
| 990 | June 2024 | $454,437 | $512,894 | $1,986,292 | XML |
| 990 | June 2023 | $264,882 | $546,951 | $1,897,555 | IRS |
| 990 | June 2022 | $619,941 | $504,117 | $1,904,262 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 14-1823014).
Questions about 518 ELEVATED INC
- What is the EIN of 518 ELEVATED INC?
- The employer identification number (EIN) of 518 ELEVATED INC is 14-1823014.
- Is 518 ELEVATED INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2001.
- Are donations to 518 ELEVATED INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does 518 ELEVATED INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of 518 ELEVATED INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did 518 ELEVATED INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of 518 ELEVATED INC?
- The 990 for the year ended June 30, 2025 names PETER LEWIS GABAK.
- Who are the officers and directors of 518 ELEVATED INC?
- The 990 for the year ended June 30, 2025 lists 31 people; 2 received compensation from the organization, the highest $47,011 (PETER LEWIS GABAK, EXECUTIVE DI).
- How much revenue does 518 ELEVATED INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $584,505, expenses of $587,391 and total assets of $2,073,997 at year end.
Other nonprofits in ALBANY
- RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NEW YORK EIN 14-1368361 · last filed 990 for 2025
- EXCELSIOR UNIVERSITY EIN 16-1532850 · last filed 990 for 2025
- ALBANY COLLEGE OF PHARMACY AND HEALTH SCIENCES EIN 14-1423161 · last filed 990 for 2025
- KIPP TECH VALLEY CHARTER SCHOOL EIN 20-1347748 · last filed 990 for 2025
- ALBANY LAW SCHOOL EIN 14-1338309 · last filed 990 for 2025
- UNIVERSITY AT ALBANY FOUNDATION EIN 14-1503972 · last filed 990 for 2025
- FORT SCHUYLER MANAGEMENT CORPORATION EIN 27-1459023 · last filed 990 for 2025
- EMPIRE COMMONS STUDENT HOUSING INC EIN 14-1832659 · last filed 990 for 2025