Albany Community Trust Inc
- Assets
- $877.7k
- Revenue
- $320.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Albany, VT
- Founding
- 02/2019
- Data as of
- 12/2021
- EIN
- 82-4708126
Organization Overview
Albany Community Trust Inc is located in Albany, VT. The organization was established in 2019. According to its NTEE Classification (S30) the organization is classified as: Economic 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. Albany Community Trust 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 Community Trust Inc generated $320.7k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 37.0% each year . All expenses for the organization totaled $61.4k during the year ending 12/2021. While expenses have increased by 3.1% per year over the past 3 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
DEDICATED TO SUPPORTING POSITIVE GROWTH AND INCREASED VIBRANCY IN THE TOWN OF ALBANY, VT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS AWARDED TO THE ALBANY NEIGHBORS TASK FORCE FOR REPAYMENT OF EXPENDITURES RELATED TO PROVIDING COMMUNITY MEALS AND LAUNCHING A LOCAL FOOD SHELF DURING THE CORONAVIRUS PUBLIC HEALTH EMERGENCY. AN AVERAGE OF 220 COMMUNITY MEALS ARE SERVED WEEKLY. FOOD SHARE DELIVERY IS MADE TO 40 HOUSEHOLDS WITH 20 ADDITIONAL HOUSEHOLDS PICKING UP AT THE LOCAL FOOD SHELF.
STORE RENOVATION PROJECT. ALBANY GENERAL STORE RENOVATION WAS COMPLETED IN 2021.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hannah Pearce President | OfficerTrustee | 1 | $0 |
Kristen Fountain Treasurer | OfficerTrustee | 4 | $0 |
Kristin Urie Vice President | OfficerTrustee | 1 | $0 |
Sonya Kittredge Secretary | OfficerTrustee | 1 | $0 |
Larry Bohen Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $208,653 |
| All other contributions, gifts, grants, and similar amounts not included above | $95,237 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $303,890 |
| Total Program Service Revenue | $16,800 |
| Investment income | $0 |
| 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 | $320,690 |
| 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 | $800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,002 |
| Advertising and promotion | $918 |
| Office expenses | $1,121 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,978 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,660 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,665 |
| Insurance | $2,266 |
| All other expenses | $0 |
| Total functional expenses | $61,410 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,085 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $844,626 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $877,711 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $5,000 |
| 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 | $2,100 |
| Total liabilities | $7,100 |
| Net assets without donor restrictions | $0 |
| 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 | $870,611 |
| Total liabilities and net assets/fund balances | $877,711 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Albany Community Trust Inc has recieved totaling $484.
| Awarding Organization | Amount |
|---|---|
Concrete Foundation Inc Craftsbury Common, VT PURPOSE: GENERAL SUPPORT | $484 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,175,283 | $8,778,402 |
Granite State Economic Development Corp Portsmouth, NH | $20,832,618 | $9,324,758 |
Structured Employment Economic Development Corporation New York, NY | $3,440,081 | $6,983,803 |
Nybdc Local Development Corporation Albany, NY | $39,799,179 | $11,401,541 |
Venture For America Inc New York, NY | $3,605,973 | $6,866,605 |
Trufund Financial Services Inc New York, NY | $14,181,328 | $2,317,905 |
Griffiss Local Development Corporation Rome, NY | $28,823,478 | $3,861,279 |
Metrotech Area District Management Association Inc Brooklyn, NY | $3,270,355 | $4,991,826 |
Kiryas Joel Municipal Local Development Corporation Monroe, NY | $2,561,042 | $4,665,324 |
Greater New Bedford Workforce Investment Board Inc New Bedford, MA | $1,194,439 | $3,887,016 |
West Harlem Development Corporation New York, NY | $61,321,755 | $1,156,663 |