Albany Medical College Alumni Association Inc
- Assets
- $7.1m
- Revenue
- $658.6k
- Investments
- $1.3m
- Employees
- 0
- Location
- Albany, NY
- Founding
- 03/1965
- Data as of
- 12/2021
- EIN
- 14-1468380
Organization Overview
Albany Medical College Alumni Association Inc is located in Albany, NY. The organization was established in 1965. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Albany Medical College Alumni Association Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Albany Medical College Alumni Association Inc generated $658.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $579.5k during the year ending 12/2021. While expenses have increased by 6.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE INFORMATION AND ASSISTANCE TO STUDENTS AND ALUMNI OF ALBANY MEDICAL COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS - TO PROVIDE SCHOLARSHIPS AND AWARDS TO MEDICAL STUDENTS TO SUPPORT THEM WITH THEIR MEDICAL EDUCATION.
SPECIAL EVENTS - TO CONDUCT REGIONAL ALUMNI FUNCTIONS AND REUNION ACTIVITIES FOR ALUMNI ENGAGEMENT AND STUDENT RECOGNITION/DEVELOPMENT PROGRAMS AND ORIENTATION AND COMMENCEMENT EVENTS FOR MEDICAL STUDENTS.
STUDENT SUPPORT - TO PROVIDE MEDICAL STUDENTS WITH TRAVEL STIPENDS WHEN PRESENTING AT CLINICAL CONFERENCES AND FOR STUDENT CLUBS, MENTORSHIP ACTIVITIES, VISITING ALUMNI PROGRAMS AND STUDENT GROUP EVENTS AND EDUCATIONAL INITIATIVES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Sapio MD Secretary | OfficerTrustee | 1 | $0 |
Ursula Matulonis MD President-Elect | OfficerTrustee | 1 | $0 |
David M Jones MD President | OfficerTrustee | 1 | $0 |
Kevin Roberts MD Director | OfficerTrustee | 1 | $0 |
Peter Manes MD Treasurer | OfficerTrustee | 1 | $0 |
Evan Vosburgh MD Past President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $140,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $35,518 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $175,518 |
| Total Program Service Revenue | $0 |
| Investment income | $241,292 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $242,467 |
| Net Income from Fundraising Events | -$6,937 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $658,627 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $36,865 |
| Grants and other assistance to domestic individuals. | $117,229 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $239,351 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,487 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,686 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $52,530 |
| Fees for services: Other | $2,435 |
| Advertising and promotion | $30,597 |
| Office expenses | $9,214 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $47,753 |
| Travel | $1,088 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $982 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $467 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $579,547 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $22,319 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,487 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,335 |
| Investments—publicly traded securities | $5,758,735 |
| Investments—other securities | $1,307,528 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,000 |
| Total assets | $7,107,404 |
| Accounts payable and accrued expenses | $6,160 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $6,160 |
| Net assets without donor restrictions | $3,808,277 |
| Net assets with donor restrictions | $3,292,967 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,107,404 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Albany Medical College Alumni Association Inc has recieved totaling $511,985.
| Awarding Organization | Amount |
|---|---|
Albany Medical Center Group Organization Albany, NY PURPOSE: FUND SCHOLARSHIPS | $381,985 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $95,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $35,000 |
Endowment Analysis
| Beg. Balance | $4,686,675 |
| Earnings | $690,917 |
| Net Contributions | $29,619 |
| Grants | -$110,898 |
| Ending Balance | $5,298,314 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Physicians Of Brooklyn Inc Brooklyn, NY | $41,439,443 | $60,589,038 |
Associated Medical Schools Of New York New York, NY | $3,460,503 | $3,960,452 |
Pennsylvania Academy Of Family Physicians Foundation Harrisburg, PA | $496,377 | $1,343,074 |
The Elmezzi Graduate School Of Molecular Medicine Westbury, NY | $0 | $0 |
Albany Medical College Alumni Association Inc Albany, NY | $7,107,404 | $658,627 |
Academy Of Medicine Of Queens County Inc Forest Hills, NY | $1,732,761 | $433,362 |
State University Of New York Downstate Medical Center Tr Alu Pittsburgh, PA | $2,952,778 | $195,965 |
Rochester Academy Of Medicine Rochester, NY | $801,076 | $335,226 |
Nassau Academy Of Medicine Garden City, NY | $6,686,714 | $204,140 |
Westchester Academy Of Medicine Valhalla, NY | $1,876,340 | $109,445 |
Suffolk Academy Of Medicine Patchogue, NY | $24,375 | $0 |
Health Occupations Students Of America Wernersville, PA | $162,304 | $0 |