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Nonprofiteer
← ALBANY CENTER FOR ECONOMIC SUCCESS INC

Form 990 for tax year 2022

Filed by ALBANY CENTER FOR ECONOMIC SUCCESS INC.

Totals

Total revenue
$595,915
Total expenses
$145,309
Contributions and grants received
$500,100
Grants paid
$0
Program service revenue
$95,815
Investment income
$0
Other revenue
$0
Total assets, end of year
$509,777
Total liabilities, end of year
$55,006
Net assets or fund balances, end of year
$454,771
Program services expenses (Part IX)
$127,309
Management and general expenses
$18,000
Fundraising expenses
$0
Program service expenses (Part III)
$127,309

Program services were 87.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $19,000

  • 1f · All other contributions, gifts and grants

    $481,100

  • 2a · Program service revenue: RENTAL INCOME

    total $77,885 · related or exempt $77,885

  • 2b · Program service revenue: TRAINING/OTHER INCOME

    total $17,930 · related or exempt $17,930

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $18,000 · management and general $18,000

  • 11c · Fees: accounting

    total $2,310 · program services $2,310

  • 11g · Fees: other

    total $27,610 · program services $27,610

  • 13 · Office expenses

    total $590 · program services $590

  • 16 · Occupancy

    total $60,512 · program services $60,512

  • 19 · Conferences, conventions and meetings

    total $315 · program services $315

  • 22 · Depreciation, depletion and amortization

    total $21,100 · program services $21,100

  • 23 · Insurance

    total $10,971 · program services $10,971

  • 24a · Other expenses: EQUIPMENT RENTAL

    total $2,009 · program services $2,009

  • 24b · Other expenses: MISCELLANEOUS

    total $1,892 · program services $1,892

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $69,823 · end of year $75,012

  • 2 · Savings and temporary cash investments

    beginning of year $2,950 · end of year $3,525

  • 3 · Pledges and grants receivable

    beginning of year $26,894 · end of year $27,855

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,321 · end of year $11,350

  • 10a · Land, buildings and equipment: cost or other basis

    $867,796

  • 10b · Land, buildings and equipment: accumulated depreciation

    $475,761

  • 10c · Land, buildings and equipment, net

    beginning of year $393,099 · end of year $392,035

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,922 · end of year $55,006

  • 24 · Unsecured notes and loans payable

    beginning of year $470,000

  • 27 · Net assets without donor restrictions

    beginning of year $4,165 · end of year $454,771

Mission and programs · 2022

Mission

ACQUIRE, DEVELOP AND OPERATE A FACILITY WHICH FUNCTIONS AS A SMALL BUSINESS INCUBATOR AND PROVIDE OTHER TRAINING AND TECHNICAL ASSISTANCE FOR MINORITIES, WOMEN AND OTHER DISADVANTAGED SMALL BUSINESS OWNERS IN THE CAPITAL REGION OF NY STATE.

Activities or mission (Part I)

TO ACQUIRE, DEVELOP AND OPERATE FACILITIES WHICH WILL FUNCTION AS SMALL BUSINESS INCUBATORS FOR MINORITIES, WOMEN AND OTHER DISADVANTAGED SMALL BUSINESS OWNERS IN THE CAPITAL REGION OF NEW YORK STATE.

  • ACQUIRE, DEVELOP AND OPERATE A FACILITY WHICH FUNCTIONS AS A SMALL BUSINESS INCUBATOR AND PROVIDE OTHER TRAINING AND TECHNICAL ASSISTANCE FOR MINORITIES, WOMEN AND OTHER DISADVANTAGEDD SMALL BUSINESS OWNERS IN THE CAPITAL REGION OF NY STATE.

    Expenses $127,309

  • N/A

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Yolanda Caldwell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bryce Cutler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Milly Deane

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Bob Green

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    1

  • Kristina Kelly

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Linda MacFarlane

    EXECUTIVE DI

    Total calculated
    $0
    Hours/week
    2

  • Patrick Miller

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Ashley Mohl

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kasir Rasul

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
18 April 2023
IRS schema version
2022v5.0
Source object
202321109349300812

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