Galvan Asset Management Inc
- Assets
- $4.2m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 9
- Location
- Hudson, NY
- Founding
- 03/2000
- Data as of
- 06/2022
- EIN
- 22-3695479
Organization Overview
Galvan Asset Management Inc is located in Hudson, NY. The organization was established in 2000. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Galvan Asset Management Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Galvan Asset Management Inc is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LOW-COST, AFFORDABLE RENTAL HOUSING TO LOW-INCOME FAMILIES (AS DETERMINED BY GOVERNMENT GUIDELINES) AND PROVIDE LOW-COST RENTAL SPACE AS ADMINISTRATIVE OFFICES FOR OTHER NOT-FOR-PROFIT AND CHARITABLE CORPORATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE LOW-COST, AFFORDABLE RENTAL HOUSING TO LOW-INCOME FAMILIES (AS DETERMINED BY GOVERNMENT GUIDELINES) AND PROVIDE LOW-COST RENTAL SPACE AS ADMINISTRATIVE OFFICES FOR OTHER NOT-FOR-PROFIT AND CHARITABLE CORPORATIONS.
TO PROVIDE LOW-COST, AFFORDABLE RENTAL HOUSING TO LOW-INCOME FAMILIES (AS DETERMINED BY GOVERNMENT GUIDELINES) AND PROVIDE LOW-COST RENTAL SPACE AS ADMINISTRATIVE OFFICES FOR OTHER NOT-FOR-PROFIT AND CHARITABLE CORPORATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
T Eric Galloway President | OfficerTrustee | 5 | $0 |
Dan Kent Treasurer | OfficerTrustee | 10 | $0 |
Rafal Markwat Secretary | OfficerTrustee | 1 | $0 |
Rodney Russo Trustee | Trustee | 1 | $0 |
Richard Scalera Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,035,776 |
| Investment income | $19 |
| 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 | $1,035,795 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $113,474 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $42,336 |
| Fees for services: Legal | $13,120 |
| Fees for services: Accounting | $9,782 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,000 |
| Advertising and promotion | $0 |
| Office expenses | $45,605 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $159,275 |
| Travel | $13,746 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $101,141 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $202,568 |
| Insurance | $58,901 |
| All other expenses | $180,878 |
| Total functional expenses | $1,111,553 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $179,317 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,614 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $65,917 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $10,810 |
| Net Land, buildings, and equipment | $3,550,173 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $95,120 |
| Intangible assets | $0 |
| Other assets | $304,005 |
| Total assets | $4,235,956 |
| Accounts payable and accrued expenses | $136,582 |
| 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 | $3,528,068 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,626,927 |
| Total liabilities | $5,291,577 |
| Net assets without donor restrictions | -$1,055,621 |
| Net assets with donor restrictions | $0 |
| 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 | $4,235,956 |