Albany Fund For Education Inc
- Assets
- $322.8k
- Revenue
- $224.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Albany, NY
- Founding
- 08/1999
- Data as of
- 12/2022
- EIN
- 14-1810885
Organization Overview
Albany Fund For Education Inc is located in Albany, NY. The organization was established in 1999. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Albany Fund For Education 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 12/2022, Albany Fund For Education Inc generated $224.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 19.5% each year . All expenses for the organization totaled $208.6k during the year ending 12/2022. While expenses have increased by 11.6% per year over the past 6 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION WAS FORMED TO SUPPORT PROGRAMS AND PROJECTS OF CITY OF ALBANY NY SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS PROGRAM - PROVIDING GRANTS FOR PROGRAMS IN SCHOOLS AND REIMBURSEMENT GRANTS TO TEACHERS FOR VIRTUAL LEARNING RELATED EXPENSES.
OTHER
FEED AND READ PROGRAM - PROVIDING WEEKEND FOOD BACKPACKS (AND A FREE BOOK EVERY WEEK) FOR STUDENTS WHO DEPEND ON SCHOOL MEALS AND COME TO SCHOOL HUNGRY ON MONDAYS).
"HUNGER DOESN'T TAKE A SUMMER VACATION" - THIS WAS A SUMMER BACKPACK PROGRAM, PROVIDING SUMMER WEEKEND FOOD BAGS FOR STUDENTS EXPERIENCING SEVERE FOOD INSECURITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathryn Bamberger President | OfficerTrustee | 2 | $0 |
Ashley Chapple Director | Trustee | 1 | $0 |
Paul Collins-Hackett Director | Trustee | 1 | $0 |
Anne Erling Director | Trustee | 1 | $0 |
Ginnie Farrell Immediate Past President | Trustee | 2 | $0 |
Laura Franz Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $1,159 |
| Membership dues | $0 |
| Fundraising events | $1,092 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $186,941 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $189,192 |
| Total Program Service Revenue | $34,814 |
| Investment income | $510 |
| 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 | $224,516 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $128,354 |
| 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. | $35,918 |
| Compensation of current officers, directors, key employees. | $1,796 |
| 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 | $4,360 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,000 |
| Advertising and promotion | $1,376 |
| Office expenses | $5,179 |
| Information technology | $367 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $470 |
| All other expenses | $435 |
| Total functional expenses | $208,620 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $133,705 |
| Savings and temporary cash investments | $159,725 |
| Pledges and grants receivable | $26,334 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,020 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $322,784 |
| Accounts payable and accrued expenses | $18,756 |
| 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 | $76,801 |
| Total liabilities | $95,557 |
| Net assets without donor restrictions | $174,512 |
| Net assets with donor restrictions | $52,715 |
| 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 | $322,784 |
Grants Awarded
Over the last fiscal year, Albany Fund For Education Inc has awarded $76,602 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
REGIONAL FOOD BANK NENY PURPOSE: FOOD FOR SUMMER FEEDING PROGRAM | $24,488 |
HOMELESS AND TRAVELERS AID SOCIETY PURPOSE: THE FEED AND READ PROGRAM ADMINISTERED BY HATAS | $46,814 |
CITY SCHOOL DISTRICT OF ALBANY PURPOSE: PROVIDED SUPPORT FOR SCHOOL FOOD PANTRIES | $5,300 |