Albany Center Galleries Inc
- Assets
- $132.6k
- Revenue
- $311.6k
- Investments
- $23.4k
- Employees
- 5
- Location
- Albany, NY
- Founding
- 10/1989
- Data as of
- 03/2022
- EIN
- 14-1672333
Organization Overview
Albany Center Galleries Inc is located in Albany, NY. The organization was established in 1989. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 03/2022, Albany Center Galleries Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Albany Center Galleries 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 03/2022, Albany Center Galleries Inc generated $311.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.9% each year . All expenses for the organization totaled $289.3k during the year ending 03/2022. While expenses have increased by 18.2% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND EXHIBIT CONTEMPORARY VISUAL ART PRODUCED BY EMERGING AND ESTABLISHED ARTISTS LIVING PRIMARILY IN THE REGION AND TO INSPIRE INTEREST AND PROVIDE ENJOYMENT TO AN INCREASINGLY DIVERSE AUDIENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXHIBITIONS - IN HOUSE PROGRAM FEATURING APPROXIMATELY SEVEN TO NINE CURATED OR JURIED ART EXHIBITIONS OF REGIONAL ARTISTS.
CONSULTING/COLLABORATION - EXTERNAL PROGRAMS FEATURING COLLABORATIVE EVENTS WITH OTHER ORGANIZATIONS, EXTERNAL ART INSTALLATIONS BOTH PUBLIC AND PRIVATE, AND ART COMMISSIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony Iadicicco Executive Director | Officer | 40 | $61,616 |
James Carr Secretary | OfficerTrustee | 2 | $0 |
William O Pettit III Treasurer | OfficerTrustee | 2 | $0 |
David Phaff President | OfficerTrustee | 2 | $0 |
Kevin Dubner Immediate Past President | OfficerTrustee | 2 | $0 |
Lisa Brown Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $91,981 |
| All other contributions, gifts, grants, and similar amounts not included above | $132,002 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $223,983 |
| Total Program Service Revenue | $47,125 |
| Investment income | $1,016 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $39,447 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $311,571 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $67,600 |
| Compensation of current officers, directors, key employees. | $20,280 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $70,262 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,104 |
| Payroll taxes | $10,041 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,120 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,396 |
| Advertising and promotion | $2,590 |
| Office expenses | $13,103 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $26,312 |
| Travel | $211 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $944 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,247 |
| Insurance | $2,593 |
| All other expenses | $151 |
| Total functional expenses | $289,342 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $53,906 |
| Savings and temporary cash investments | $41,623 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $500 |
| 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 | $10,334 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $23,437 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,803 |
| Total assets | $132,603 |
| Accounts payable and accrued expenses | $6,496 |
| 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 | $6,496 |
| Net assets without donor restrictions | $57,899 |
| Net assets with donor restrictions | $68,208 |
| 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 | $132,603 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Albany Center Galleries Inc has recieved totaling $15,556.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $7,500 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $7,500 |
Kiwi Foundation Averill Park, NY PURPOSE: CHARITABLE CONTRIBUTION | $500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $56 |
Endowment Analysis
| Beg. Balance | $47,576 |
| Earnings | -$3,117 |
| Net Contributions | $40,000 |
| Other Expense | $16,250 |
| Ending Balance | $68,209 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Andy Warhol Foundation For The Visual Arts Inc New York, NY | $375,628,094 | $51,526,373 |
Production Industrial Tech Textile & Prof Employees Loc 124 Wlfr Fund Valhalla, NY | $838,103 | $5,998,825 |
Lily Auchincloss Foundation Inc New York, NY | $46,827,043 | $6,935,321 |
Solow Art And Architecture Foundation New York, NY | $241,786,081 | $29,285,009 |
Municipal Art Society Of New York New York, NY | $12,093,728 | $3,370,052 |
The Wildenstein Plattner Institute New York, NY | $1,898,409 | $4,064,152 |
Drawing Center Inc New York, NY | $11,094,197 | $3,697,448 |
Conservation Center For Art And Historic Artifacts Philadelphia, PA | $4,515,696 | $3,186,711 |
Clay Studio Philadelphia, PA | $16,944,971 | $9,873,164 |
Van Alen Institute Projects In Public Architecture Brooklyn, NY | $44,490,814 | $3,072,994 |
Urbanglass New York Contemporary Glass Center Inc Brooklyn, NY | $1,687,992 | $2,437,335 |
American Institute Of Architects New York, NY | $10,952,534 | $3,079,461 |