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Nonprofiteer
← ALBANY MEDICAL COLLEGE ALUMNI ASSOCIATION INC

Form 990 for tax year 2023

Filed by ALBANY MEDICAL COLLEGE ALUMNI ASSOCIATION INC.

Totals

Total revenue
$517,646
Total expenses
$537,309
Contributions and grants received
$187,962
Grants paid
$134,931
Program service revenue
$0
Investment income
$381,078
Other revenue
-$51,394
Total assets, end of year
$6,698,252
Total liabilities, end of year
$12,036
Net assets or fund balances, end of year
$6,686,216
Program services expenses (Part IX)
$352,069
Management and general expenses
$185,240
Fundraising expenses
$0
Program service expenses (Part III)
$352,069

Program services were 65.5% 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.

  • 1c · Fundraising events

    $20,630

  • 1d · Related organizations

    $140,000

  • 1f · All other contributions, gifts and grants

    $27,332

  • 3 · Investment income

    total $300,814 · excluded $300,814

  • 7a · Gross sales of assets other than inventory

    securities $2,263,432

  • 7b · Less cost or other basis and sales expenses

    securities $2,183,168

  • 7c · Gain or loss

    securities $80,264

  • 7d · Net gain or loss

    total $80,264 · excluded $80,264

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $20,630

  • 8b · Fundraising events: direct expenses

    $52,535

  • 8c · Net income from fundraising events

    total -$52,535 · excluded -$52,535

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $1,141 · excluded $1,141

  • 11e · Other revenue, total

    $1,141

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $26,937 · program services $26,937

  • 2 · Grants to domestic individuals

    total $107,994 · program services $107,994

  • 7 · Other salaries and wages

    total $211,701 · program services $126,165 · management and general $85,536

  • 9 · Other employee benefits

    total $1,000 · program services $600 · management and general $400

  • 11c · Fees: accounting

    total $22,063 · management and general $22,063

  • 11f · Fees: investment management

    total $49,764 · management and general $49,764

  • 11g · Fees: other

    total $6,470 · program services $6,470

  • 12 · Advertising and promotion

    total $37,074 · program services $37,074

  • 13 · Office expenses

    total $10,534 · program services $6,997 · management and general $3,537

  • 16 · Occupancy

    total $50,248 · program services $32,661 · management and general $17,587

  • 17 · Travel

    total $3,724 · program services $2,793 · management and general $931

  • 19 · Conferences, conventions and meetings

    total $1,887 · management and general $1,887

  • 22 · Depreciation, depletion and amortization

    total $1,337 · program services $1,337

  • 24a · Other expenses: MISCELLANEOUS

    total $3,461 · program services $3,041 · management and general $420

  • 24b · Other expenses: MINOR EQUIPMENT

    total $2,473 · management and general $2,473

  • 24c · Other expenses: BANK CHARGES

    total $642 · management and general $642

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $18,392 · end of year $4,166

  • 4 · Accounts receivable

    beginning of year $34,312 · end of year $7,192

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

    $19,566

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

    $15,829

  • 10c · Land, buildings and equipment, net

    beginning of year $5,072 · end of year $3,737

  • 11 · Investments: publicly traded securities

    beginning of year $4,879,204 · end of year $5,626,101

  • 12 · Investments: other securities

    beginning of year $1,111,991 · end of year $1,057,056

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,518 · end of year $12,036

  • 27 · Net assets without donor restrictions

    beginning of year $3,174,932 · end of year $3,489,570

  • 28 · Net assets with donor restrictions

    beginning of year $2,862,521 · end of year $3,196,646

Mission and programs · 2023

Mission

THE AMC ALUMNI ASSOCIATION IS AN INDEPENDENT NON-PROFIT ORGANIZATION ORGANIZED TO SUPPORT LIFELONG RELATIONSHIPS WITH AND AMONG CURRENT AND FUTURE ALBANY MEDICAL COLLEGE ALUMNI. AS A COMMITTED PARTNER OF AMC, THE ASSOCIATION SUPPORTS AND ADVANCES THE MISSION OF THE COLLEGE OFFERING PROGRAMS AND SERVICES FOR OUR ALUMNI, FACULTY, AND STUDENTS.

Activities or mission (Part I)

TO PROVIDE INFORMATION AND ASSISTANCE TO STUDENTS AND ALUMNI OF ALBANY MEDICAL COLLEGE.

  • SCHOLARSHIPS - TO PROVIDE SCHOLARSHIPS AND AWARDS TO MEDICAL STUDENTS TO SUPPORT THEM WITH THEIR MEDICAL EDUCATION.

    Expenses $107,994 · Grants $107,994

  • SPECIAL EVENTS - TO CONDUCT REGIONAL ALUMNI FUNCTIONS AND REUNION ACTIVITIES FOR ALUMNI ENGAGEMENT AND STUDENT RECOGNITION/DEVELOPMENT PROGRAMS AND ORIENTATION AND COMMENCEMENT EVENTS FOR MEDICAL STUDENTS.

    Expenses $52,535

  • STUDENT SUPPORT - TO PROVIDE MEDICAL STUDENTS WITH TRAVEL STIPENDS WHEN PRESENTING AT CLINICAL CONFERENCES AND FOR STUDENT CLUBS, MENTORSHIP ACTIVITIES, VISITING ALUMNI PROGRAMS AND STUDENT GROUP EVENTS AND EDUCATIONAL INITIATIVES.

    Expenses $191,540 · Grants $26,937

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Katherine E Halligan Ms

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David M Jones MD

    PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Jeffrey D Hubbard MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Clifford Erickson MD

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Anthony C Campagna MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nancy Sapio MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ursula Matulonis MD

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Thomas Helm MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Mueller Ms Pa-C

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kevin Roberts MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Peter Manes MD

    PRESIDENT-ELECT

    Total calculated
    $0
    Hours/week
    1

  • Michael T Mulligan MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Andrew Mak MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Alan S Nyquist MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Giovanna Mahar Crna Dnapms

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Aleena Paul MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Douglas A Tebor MD

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Joseph Garvey MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Thomas Snyder MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Lamar PhD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Arnold M Rosen MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mitchell Bamberger MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Janet Gargiulo MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gary L Sutter MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Evan Vosburgh MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sandra J Dinoto

    EXECUTIVE DIRECTOR

    Total calculated
    $101,629
    From this org
    $0
    From related orgs
    $101,629
    Other
    $0
    Hours/week
    40

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.

Schedule J

Answered yes

  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
4 September 2024
IRS schema version
2023v5.1
Source object
202402499349300120

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