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Nonprofit · EIN 22-2908723

ALBANY COMMUNITY LAND TRUST

Tax-exempt · ALBANY, NY 12210

Financials

$1.2M$1M2023$1.5M$1.4M2024
Revenue Expenses · by fiscal year end
Financials of ALBANY COMMUNITY LAND TRUST by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$1,526,993$1,401,165$125,828$3,745,849$1,870,603$1,875,246
December 31, 2023990$1,155,550$1,022,424$133,126$3,586,111$1,836,693$1,749,418
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$984,911
of which government grants
$705,543
Program service revenue
$584,325
Investment income
-$44,351
Net gain from sales of assets
-$44,351
Other revenue
$2,108

Expenses

Grants and similar amounts paid
$402,560
Compensation of officers, directors and key employees
$8,000
Salaries, compensation and benefits (total)
$9,092
Professional fundraising fees
$0
Accounting fees
$19,630
Occupancy
$7,517
Depreciation
$177,925
Program services (functional)
$1,314,717
Management and general (functional)
$86,448

Balance sheet and other

Total assets, start of year
$3,586,111
Total assets, end of year
$3,745,849
Total liabilities, end of year
$1,870,603
Net assets, end of year
$1,875,246
Land, buildings and equipment
$3,332,312
Net assets without donor restrictions
$1,442,579
Net assets with donor restrictions
$432,667
Gross receipts
$1,791,170
Employees
1
Volunteers
2
Year formed
1987
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 December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
SUSAN COTNEREXECUTIVE DIRECTOR
Officer
20$8,000
METORCERY WILSONBOARD MEMBER
Trustee or director
1$0
JAMES WAUGAMANBOARD MEMBER
Trustee or director
1$0
MARTHA CODIOBOARD MEMBER
Trustee or director
1$0
STACEY ROLANDBOARD MEMBER
Trustee or director
1$0
HERB MCLAUGHLINPRESIDENT
Trustee or director, Officer
2$0
NISHAEA RICHARDSONVICE PRESIDENT
Trustee or director, Officer
1$0
NEIL HANNANTREASURER
Trustee or director, Officer
2$0
ROGER MARKOVICSSECRETARY
Trustee or director, Officer
10$0
990 for the year ended December 31, 2023: 10 people
NameTitleHours / weekCompensation
SUSAN COTNEREXECUTIVE DIRECTOR
Officer
20$8,000
METORCERY WILSONBOARD MEMBER
Trustee or director
1$0
JAMES WAUGAMANBOARD MEMBER
Trustee or director
1$0
MARTHA CODIOBOARD MEMBER
Trustee or director
1$0
NISHAEA RICHARDSONBOARD MEMBER
Trustee or director
1$0
PATRICIA BLUNT-BEYBOARD MEMBER
Trustee or director
1$0
APRECIA CABEYPRESIDENT
Trustee or director, Officer
2$0
HERB MCLAUGHLINVICE PRESIDENT
Trustee or director, Officer
1$0
NEIL HANNANTREASURER
Trustee or director, Officer
2$0
ROGER MARKOVICSSECRETARY
Trustee or director, Officer
10$0

Address and contacts

Address (IRS master file)
255 ORANGE ST, ALBANY, NY 12210-2404
Principal officer (990 for 2024)
SUSAN COTNER, 255 ORANGE STREET, ALBANY, NY 12210
Signed the 990
SUSAN COTNER, EXECUTIVE DIRECTOR
Phone
(518) 426-1296
Return prepared by
MENGEL METZGER BARR & CO LLP

Mission

PRESERVE AND MAINTAIN AFFORDABLE HOUSING FOR LOW INCOME AND DISADVANTAGED INDIVIDUALS AND FAMILIES IN ALBANY, NEW YORK.

990 for the year ended December 31, 2024

Program accomplishments

  • 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 2024, 57 FAMILIES WERE HELPED FROM THIS PROGRAM.
    Expenses $298,042 · revenue $584,325
  • 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, 2024, 48 FAMILIES HAVE BEEN HELPED BY THIS PROGRAM.
    Expenses $576,433
  • 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 12 MONTH CONTRACT (STARTING JULY 2024) 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.
    Expenses $440,242 · grants $402,560

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 December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
22-2908723
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
1989
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$3,745,849
Income (IRS master file)
$1,791,170

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$1,526,993$1,401,165$3,745,849IRS
990December 2023$1,155,550$1,022,424$3,586,111XML
990December 2022$1,054,157$1,189,348$3,293,149IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––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 22-2908723).

Questions about ALBANY COMMUNITY LAND TRUST

What is the EIN of ALBANY COMMUNITY LAND TRUST?
The employer identification number (EIN) of ALBANY COMMUNITY LAND TRUST is 22-2908723.
Is ALBANY COMMUNITY LAND TRUST tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1989.
Are donations to ALBANY COMMUNITY LAND TRUST tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does ALBANY COMMUNITY LAND TRUST 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 ALBANY COMMUNITY LAND TRUST due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did ALBANY COMMUNITY LAND TRUST last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of ALBANY COMMUNITY LAND TRUST?
The 990 for the year ended December 31, 2024 names SUSAN COTNER.
Who are the officers and directors of ALBANY COMMUNITY LAND TRUST?
The 990 for the year ended December 31, 2024 lists 9 people; 1 received compensation from the organization, the highest $8,000 (SUSAN COTNER, EXECUTIVE DIRECTOR).
How much revenue does ALBANY COMMUNITY LAND TRUST have?
On its 990 for the year ended December 31, 2024 it reported revenue of $1,526,993, expenses of $1,401,165 and total assets of $3,745,849 at year end.

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