Troy Community Land Bank Corporation
- Assets
- $1.1m
- Revenue
- $167.8k
- Investments
- $0.0
- Employees
- 1
- Location
- Troy, NY
- Founding
- 04/2016
- Data as of
- 12/2020
- EIN
- 47-2386710
Organization Overview
Troy Community Land Bank Corporation is located in Troy, NY. The organization was established in 2016. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Troy Community Land Bank Corporation 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 12/2020, Troy Community Land Bank Corporation generated $167.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.6%) each year. All expenses for the organization totaled $385.4k during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE TROY COMMUNITY LAND BANK ACQUIRES, REHABILITATES AND RESELLS VACANT AND ABANDONED BUILDINGS THROUGHOUT THE CITY OF TROY, NEW YORK
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORE PURPOSE OF THE TROY COMMUNITY LAND BANK IS TO REDEVELOP VACANT, ABANDONED, AND UNDER-UTILIZED PROPERTIES THROUGH COMMUNITY PARTNERSHIPS AND STRATEGIC PLANNING. OUR GOAL IS TO ENCOURAGE ECONOMIC GROWTH, LONG-TERM SUSTAINABILITY AND NEW OPPORTUNITIES FOR ALL OF TROY'S RESIDENTS AND BUSINESSES SO THAT WE CAN BUILD STRONGER NEIGHBORHOODS AND ENJOY A GREATER QUALITY OF LIFE.DURING 2020, 0 PARCELS OF PROPERTY WERE ACQUIRED AND 4 PROPERTIES WERE SOLD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony Tozzi Executive Director | OfficerTrustee | 50 | $77,885 |
Heather King Board Chair | OfficerTrustee | 4.1 | $0 |
Suzanne Spellen Board Vice Chair | OfficerTrustee | 3 | $0 |
Brian Barker Board Secretary | OfficerTrustee | 3 | $0 |
Sharon Nichols Former Treasurer | OfficerTrustee | 3 | $0 |
Jeannette Nicholson Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Duncan & Cahill Inc Property Repairs, Maint., & Renovations | 12/30/17 | $134,710 |
Habitat For Humanity Property Repairs, Maint., & Renovations | 12/30/17 | $120,800 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $393,540 |
| 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 | $393,540 |
| Total Program Service Revenue | $740 |
| Investment income | $76 |
| 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 | -$226,577 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $167,779 |
| 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 | $0 |
| Pension plan accruals and contributions | $75,513 |
| Other employee benefits | $1,039 |
| Payroll taxes | $15,504 |
| Fees for services: Management | $56,271 |
| Fees for services: Legal | $41,425 |
| Fees for services: Accounting | $31,420 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $13,604 |
| Information technology | $0 |
| 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 | $384 |
| Insurance | $60,120 |
| All other expenses | $3,324 |
| Total functional expenses | $385,409 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,902 |
| Savings and temporary cash investments | $3 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $535,526 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $568,400 |
| Prepaid expenses and deferred charges | $10,552 |
| Net Land, buildings, and equipment | $385 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,119,768 |
| Accounts payable and accrued expenses | $156,503 |
| Grants payable | $0 |
| Deferred revenue | $495,515 |
| 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 | $107,000 |
| Other liabilities | $0 |
| Total liabilities | $759,018 |
| Net assets without donor restrictions | $360,750 |
| 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 | $1,119,768 |