Albany Fund For Education Inc
- Assets
- $291.6k
- Revenue
- $181.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Albany, NY
- Founding
- 08/1999
- Data as of
- 12/2021
- EIN
- 14-1810885
Organization Overview
Albany Fund For Education Inc is located in Albany, NY. The organization was established in 1999. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Albany Fund For Education 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 Fund For Education Inc generated $181.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.6% each year . All expenses for the organization totaled $237.3k during the year ending 12/2021. While expenses have increased by 25.5% 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
THE ORGANIZATION WAS FORMED TO SUPPORT PROGRAMS AND PROJECTS OF CITY OF ALBANY NY SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS PROGRAM - PROVIDING GRANTS FOR PROGRAMS IN SCHOOLS AND REIMBURSEMENT GRANTS TO TEACHERS FOR VIRTUAL LEARNING RELATED EXPENSES.
FEED AND READ PROGRAM - PROVIDING WEEKEND FOOD BACKPACKS (AND A FREE BOOK EVERY WEEK) FOR STUDENTS WHO DEPEND ON SCHOOL MEALS AND COME TO SCHOOL HUNGRY ON MONDAYS).
TECHNOLOGY PROGRAM - THIS WAS AN "AS-NEEDED" INITIATIVE IN RESPONSE TO A BACK-ORDER SITUATION WHICH LEFT MANY STUDENTS IN THE CITY SCHOOL DISTRICT OF ALBANY WITH MULTIPLE STUDENTS IN A HOME TRYING TO LEARN VIRTUALLY ON ONE DEVICE. AFE REHABBED DONATED COMPUTERS AND PURCHASED NEW COMPUTERS TO GIVE TO STUDENTS WHO NEEDED THEM IN ORDER TO ACCESS THEIR VIRTUAL SCHOOLING.
OTHER
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mari Shopsis Executive Director | Officer | 20 | $25,525 |
Kathryn Bamberger President | OfficerTrustee | 2 | $0 |
Anne Erling Secretary | OfficerTrustee | 2 | $0 |
Ginnie Farrell President | OfficerTrustee | 2 | $0 |
Theresa Swidorski Vice President | OfficerTrustee | 2 | $0 |
Natisha Alexander Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $955 |
| Membership dues | $0 |
| Fundraising events | $5,556 |
| Related organizations | $0 |
| Government grants | $4,851 |
| All other contributions, gifts, grants, and similar amounts not included above | $119,097 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $130,459 |
| Total Program Service Revenue | $50,308 |
| Investment income | $316 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $181,261 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $86,357 |
| Grants and other assistance to domestic individuals. | $77,574 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $25,413 |
| Compensation of current officers, directors, key employees. | $1,271 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,522 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,000 |
| Advertising and promotion | $3,266 |
| Office expenses | $5,944 |
| Information technology | $3,530 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $450 |
| All other expenses | $552 |
| Total functional expenses | $237,272 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $92,748 |
| Savings and temporary cash investments | $139,658 |
| Pledges and grants receivable | $59,172 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $291,578 |
| Accounts payable and accrued expenses | $19,976 |
| Grants payable | $0 |
| Deferred revenue | $4,851 |
| 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 | $55,420 |
| Total liabilities | $80,247 |
| Net assets without donor restrictions | $167,797 |
| Net assets with donor restrictions | $43,534 |
| 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 | $291,578 |
Grants Awarded
Over the last fiscal year, Albany Fund For Education Inc has awarded $79,432 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Albany, NY PURPOSE: THE FEED AND READ PROGRAM ADMINISTERED BY HATAS | $58,559 |
Latham, NY PURPOSE: FOOD FOR SUMMER FEEDING PROGRAM | $20,873 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Albany Fund For Education Inc has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Renaissance Corporation Of Albany Albany, NY PURPOSE: GENERAL | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Braverhood Ltd Brooklyn, NY | $56,044,966 | $113,467,057 |
Chevron Phillips Chemical Co Lp Health & Benefit Tr Veba Pittsburgh, PA | $15,880,618 | $77,964,861 |
Coordinated Behavioral Care Inc New York, NY | $25,699,878 | $79,934,258 |
Success Academy Charter Schools Inc New York, NY | $162,966,057 | $99,368,525 |
Inspirittec Inc Philadelphia, PA | $65,630,872 | $75,964,924 |
Baker Hall Lackawanna, NY | $43,415,308 | $53,649,609 |
Pennsylvania Virtual Charter School King Of Prussia, PA | $24,898,829 | $49,068,085 |
Tiegerman School Glen Cove, NY | $36,938,898 | $36,850,171 |
Proteus Fund Inc Amherst, MA | $47,115,132 | $46,264,432 |
Teach For All Inc New York, NY | $63,275,692 | $50,938,774 |
Pay It Forward Foundation Inc Pittsburgh, PA | $11,909,629 | $29,731,720 |
Lifesteps Inc Butler, PA | $25,871,848 | $32,536,752 |