Galvan Asset Management Inc
- Assets
- $4.3m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 11
- Location
- Hudson, NY
- Founding
- 03/2000
- Data as of
- 06/2021
- EIN
- 22-3695479
Organization Overview
Galvan Asset Management Inc is located in Hudson, NY. The organization was established in 2000. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Galvan Asset Management Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Galvan Asset Management Inc is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LOW-COST, AFFORDABLE RENTAL HOUSING TO LOW-INCOME FAMILIES (AS DETERMINED BY GOVERNMENT GUIDELINES) AND PROVIDE LOW-COST RENTAL SPACE AS ADMINISTRATIVE OFFICES FOR OTHER NOT-FOR-PROFIT AND CHARITABLE CORPORATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE LOW-COST, AFFORDABLE RENTAL HOUSING TO LOW-INCOME FAMILIES (AS DETERMINED BY GOVERNMENT GUIDELINES) AND PROVIDE LOW-COST RENTAL SPACE AS ADMINISTRATIVE OFFICES FOR OTHER NOT-FOR-PROFIT AND CHARITABLE CORPORATIONS.
TO PROVIDE LOW-COST, AFFORDABLE RENTAL HOUSING TO LOW-INCOME FAMILIES (AS DETERMINED BY GOVERNMENT GUIDELINES) AND PROVIDE LOW-COST RENTAL SPACE AS ADMINISTRATIVE OFFICES FOR OTHER NOT-FOR-PROFIT AND CHARITABLE CORPORATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Kent Treasurer | OfficerTrustee | 10 | $42,307 |
Rafal Markwat Secretary | OfficerTrustee | 1 | $0 |
T Eric Galloway President | OfficerTrustee | 5 | $0 |
Richard Scalera Trustee | Trustee | 1 | $0 |
Rodney Russo Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,092,062 |
| Investment income | $13 |
| 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 | $1,092,075 |
| 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 | $129,689 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $107,336 |
| Fees for services: Legal | $10,316 |
| Fees for services: Accounting | $11,376 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $37,599 |
| Advertising and promotion | $0 |
| Office expenses | $60,423 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $104,571 |
| Travel | $11,605 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $111,239 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $195,107 |
| Insurance | $103,147 |
| All other expenses | $210,019 |
| Total functional expenses | $1,274,531 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $198,789 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,679 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $31,832 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,785 |
| Net Land, buildings, and equipment | $3,763,437 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $286,464 |
| Total assets | $4,305,986 |
| Accounts payable and accrued expenses | $107,623 |
| 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 | $3,612,586 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,565,640 |
| Total liabilities | $5,285,849 |
| Net assets without donor restrictions | -$979,863 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $4,305,986 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Galvan Asset Management Inc has recieved totaling $73,532.
| Awarding Organization | Amount |
|---|---|
Galvan Foundation Charitable Trust New York, NY PURPOSE: PROGRAM SUPPORT | $73,532 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Keystone Florida Property Holding Corp Harrisburg, PA | $157,175,881 | $17,315,641 |
156 West 106th Street Holding Corp New York, NY | $627,698 | $10,000,000 |
University At Albany Bioscience Development Corporation Albany, NY | $44,515,468 | $7,817,426 |
Tgm Realty Corp 20 New York, NY | $499,485,449 | $22,200,197 |
121 W Chestnut Associates Inc Boston, MA | $88,401,570 | $6,440,632 |
Greater Boston Real Estate Board Boston, MA | $10,089,510 | $6,801,550 |
Realty Advisory Board On Labor Relations Incorporated New York, NY | $24,561,185 | $8,236,641 |
Cil Realty Inc Hartford, CT | $204,453,350 | $9,350,874 |
Dhu Realty Corp New York, NY | $1,097,719 | $3,124,620 |
330 North Brand Inc Hartford, CT | $104,479,705 | $8,295,726 |
Massachusetts Association Of Realtors Inc Foxborough, MA | $16,699,943 | $5,237,756 |
Carmel Mountain Apartments Inc Princeton, NJ | $126,463,068 | $7,869,627 |