EIN 22-2908723

Albany Community Land Trust

IRS 501(c) type
501(c)(3)
Num. employees
1
City
Year formed
1987
Most recent tax filings
2022-12-01
Description
The Albany Community Land Trust preserves and maintains affordable housing for low income and disadvantaged individuals and families in Albany, New York. Its homeownership program involves acquiring and renovating a home using financing and subsidies from various sources before selling it to the homebuyer. The Land is retained under Land Trust p. Aclt acquires and rehabilitates vacant buildings in the low-income neighborhoods of west hill, arbor hill, and the south end by using loans and grant resources to restore these properties to productive use while retaining ownership and management.
Related structure
Albany Community Land Trust is a subordinate organization under Affordable Housing Partnership of the Capital Region.
Total revenues
$1,054,157
2022
Total expenses
$1,189,348
2022
Total assets
$3,293,149
2022
Num. employees
1
2022

Program areas at Albany Community Land Trust

Aclt acquires and rehabilitates vacant buildings in the low-income Albany neighborhoods of west hill, arbor hill and the south end. Aclt uses loans and grant resources to bring the properties back to productive use and continues to own and manage these properties as affordable rental properties. In 2022, 60 families were helped from this program.
Aclt's homeownership program involves the acquisition and renovation of a home before selling it to the homebuyer. Aclt uses financing and subsidies from a variety of sources to complete the rehabilitation. Aclt retains title to the Land under Land Trust provisions. The Land is then leased to the homebuyer for a nominal amount. Any future sale of the residence must be to another qualified homeowner or aclt retains the right to re-acquire the building at a purchase price specified in the Land lease agreement. This ensures that the residence will be owned by an approved family that would have met the originally designated criteria for homeownership as designated under the program administered by aclt. As of december 31, 2022, 39 families have been helped by this program.

Who funds Albany Community Land Trust

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Carl E Touhey FoundationTo Develop Affordable Housing Opportunities for Low-Income People, Preserve Housing Affordability for Future Generatioms, Combat Community Deterioration By Promotion Economic Opportunities in Low-Income Neighborhoods, and Educate the General Public About Ongoing and Innovative Methods of Community Development.$50,000
Schwab Charitable FundHuman Services$25,000
Gideon Lodge #140 B'nai B'rith Housing FoundationRestricted Program Grant$10,000

Personnel at Albany Community Land Trust

NameTitleCompensation
Susan CotnerExecutive Director$8,000
Lisa PetruzzelliProgram Manager
Neil HannanTreasurer$0
Herb McLaughlinVice President$0
Valerie Alexander MoseleyPresident$0
...and 2 more key personnel

Financials for Albany Community Land Trust

RevenuesFYE 12/2022
Total grants, contributions, etc.$465,563
Program services$551,196
Investment income and dividends$0
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$36,321
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$1,077
Total revenues$1,054,157

Form 990s for Albany Community Land Trust

Fiscal year endingDate received by IRSFormPDF link
2022-122023-11-14990View PDF
2021-122022-08-01990View PDF
2020-122021-08-06990View PDF
2019-122021-01-21990View PDF
2018-122019-10-28990View PDF
...and 9 more Form 990s
Data update history
January 4, 2024
Posted financials
Added Form 990 for fiscal year 2022
January 4, 2024
Updated personnel
Identified 2 new personnel
December 25, 2023
Used new vendors
Identified 1 new vendor, including
November 28, 2023
Received grants
Identified 1 new grant, including a grant for $50,000 from Carl E Touhey Foundation
November 25, 2023
Posted financials
Added Form 990 for fiscal year 2021
Nonprofit Types
Social advocacy organizationsHousing and shelter organizationsChapter / child organizationsCharities
Issues
Human servicesHousing
Characteristics
State / local levelReceives government fundingTax deductible donationsNo full-time employees
General information
Address
255 Orange St
Albany, NY 12210
Metro area
Albany-Schenectady-Troy, NY
County
Albany County, NY
Website URL
albanyclt.com/index.html 
Phone
(518) 426-1296
IRS details
EIN
22-2908723
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1987
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
L20: Housing Development, Construction, Management
NAICS code, primary
813312: Environment, Conservation, and Wildlife Organizations
Parent/child status
Subordinate organization
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