Oswego County Land Bank Corporation
- Assets
- $2.6m
- Revenue
- $763.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Oswego, NY
- Founding
- 01/2017
- Data as of
- 12/2021
- EIN
- 81-2549668
Organization Overview
Oswego County Land Bank Corporation, operating under the name Oswego Land Bank, is located in Oswego, NY. The organization was established in 2017. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oswego Land Bank 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, Oswego Land Bank generated $763.4k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.8% each year . All expenses for the organization totaled $173.1k during the year ending 12/2021. 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
STRATEGICALLY TRANSFORM BLIGHTED OR VACANT PROPERTIES INTO APPEALING RESIDENTIAL PROPERTIES, IN ORDER TO STIMULATE THE LOCAL PLANNING, ECONOMIC DEVELOPMENT, AND NEIGHBORHOOD REVITALIZATION AND TO IMPROVE THE QUALITY OF LIFE IN LOCAL COMMUNITIES THROUGHOUT THE COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OSWEGO COUNTY LAND BANK TRANSFORMS BLIGHTED OR VACANT PROPERTIES THAT ARE DETERIORATING SURROUNDING TAXPAYERS' PROPERTY VALUES AND INVITING NEGATIVE IMPACTS INTO A COMMUNITY. THROUGH REHABILITATION OR, OCCASSIONALLY, DEMOLITION, OSWEGO COUNTY LAND BANK RETURNS THE NEGLECTED PROPERTIES TO THE MOST PRODUCTIVE AND ECONOMICAL USE FOR THE RESPECTIVE COMMUNITIES AND GET THEM BACK ON THE TAX ROLLS.IN 2021, 8 COMPLETE REHABILITATIONS, 2 PARTIAL REHABILITATIONS, AND 0 DEMOLITIONS WERE COMPLETED. 10 PROPERTIES AND 1 LOT WERE SOLD DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shane Broadwell President | OfficerTrustee | 2 | $0 |
James Dowd Treasurer | OfficerTrustee | 1 | $0 |
Philip Church Secretary | OfficerTrustee | 1 | $0 |
Paul Stewart Director | Trustee | 1 | $0 |
Jake Mulcahey Director | Trustee | 1 | $0 |
Richard Kaulfuss Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Towne Contracting Contracting | 12/30/21 | $109,239 |
Traditional Contracting Contracting | 12/30/21 | $181,878 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,214 |
| All other contributions, gifts, grants, and similar amounts not included above | $632,949 |
| Noncash contributions included in lines 1a–1f | $211,667 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $643,163 |
| Total Program Service Revenue | $0 |
| Investment income | $646 |
| 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 | $119,594 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $763,403 |
| 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 | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $37,095 |
| 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 | $8,752 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,900 |
| Travel | $1,695 |
| 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 | $254 |
| Insurance | $0 |
| All other expenses | $40 |
| Total functional expenses | $173,051 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $57,718 |
| Savings and temporary cash investments | $1,386,236 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $219,895 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $947,219 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $378 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,611,446 |
| Accounts payable and accrued expenses | $98,133 |
| 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 | $98,133 |
| Net assets without donor restrictions | $2,513,313 |
| 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 | $2,611,446 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Oswego County Land Bank Corporation has recieved totaling $45,000.
| Awarding Organization | Amount |
|---|---|
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $45,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Keystone Florida Property Holding Corp Harrisburg, PA | $157,175,881 | $17,315,641 |
156 West 106th Street Holding Corp New York, NY | $627,698 | $10,000,000 |
University At Albany Bioscience Development Corporation Albany, NY | $44,515,468 | $7,817,426 |
Tgm Realty Corp 20 New York, NY | $499,485,449 | $22,200,197 |
121 W Chestnut Associates Inc Boston, MA | $88,401,570 | $6,440,632 |
Greater Boston Real Estate Board Boston, MA | $10,089,510 | $6,801,550 |
Realty Advisory Board On Labor Relations Incorporated New York, NY | $24,561,185 | $8,236,641 |
Cil Realty Inc Hartford, CT | $204,453,350 | $9,350,874 |
Dhu Realty Corp New York, NY | $1,097,719 | $3,124,620 |
330 North Brand Inc Hartford, CT | $104,479,705 | $8,295,726 |
Massachusetts Association Of Realtors Inc Foxborough, MA | $16,699,943 | $5,237,756 |
Carmel Mountain Apartments Inc Princeton, NJ | $126,463,068 | $7,869,627 |