Albany Medical College Alumni Association Inc
- Assets
- $6.7m
- Revenue
- $517.6k
- Investments
- $1.1m
- Employees
- 0
- Location
- Albany, NY
- Founding
- 03/1965
- Data as of
- 12/2023
- 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 12/2023, Albany Medical College Alumni Association Inc generated $517.6k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $537.3k during the year ending 12/2023. While expenses have increased by 4.3% per year over the past 9 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
2023
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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katherine E Halligan Ms Director | Trustee | 1 | $0 |
David M Jones MD Past President | OfficerTrustee | 1 | $0 |
Jeffrey D Hubbard MD Director | OfficerTrustee | 1 | $0 |
Clifford Erickson MD Secretary | OfficerTrustee | 1 | $0 |
Anthony C Campagna MD Director | Trustee | 1 | $0 |
Nancy Sapio MD Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $20,630 |
| Related organizations | $140,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $27,332 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $187,962 |
| Total Program Service Revenue | $0 |
| Investment income | $300,814 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $80,264 |
| Net Income from Fundraising Events | -$52,535 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $517,646 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $26,937 |
| Grants and other assistance to domestic individuals. | $107,994 |
| 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 | $211,701 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,000 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,063 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $49,764 |
| Fees for services: Other | $6,470 |
| Advertising and promotion | $37,074 |
| Office expenses | $10,534 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $50,248 |
| Travel | $3,724 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,887 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,337 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $537,309 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,166 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,192 |
| 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 | $3,737 |
| Investments—publicly traded securities | $5,626,101 |
| Investments—other securities | $1,057,056 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,698,252 |
| Accounts payable and accrued expenses | $12,036 |
| 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 | $12,036 |
| Net assets without donor restrictions | $3,489,570 |
| Net assets with donor restrictions | $3,196,646 |
| 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 | $6,698,252 |