Land Reutilization Corporation Of The Capital Region
- Assets
- $2.2m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Schenectady, NY
- Founding
- 05/2014
- Data as of
- 12/2023
- EIN
- 46-0775590
Organization Overview
Land Reutilization Corporation Of The Capital Region is located in Schenectady, NY. The organization was established in 2014. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Land Reutilization Corporation Of The Capital Region 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 12/2023, Land Reutilization Corporation Of The Capital Region generated $1.4m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO STRENGTHEN NEIGHBORHOODS BY MITIGATING BLIGHT THROUGH THE IMPROVEMENT OF EXISTING STRUCTURES AND BY RETURNING VACANT AND ABANDONED PROPERTY TO PRODUCTIVE USE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IDENTIFY AND REMOVE ENVIRONMENTAL FACTORS THAT ARE CONSIDERED BLIGHTING INFLUENCES ON A NEIGHBORHOOD SUCH AS CONDEMNED, BURNED, AND OTHERWISE UNSALVAGABLE BUILDINGS, ABANDONED CARS, TRASH, AND DEBRIS. WORK WITH CROSS-REGIONAL AND LOCAL MUNICIPAL GOVERNMENTS TO ASSURE ENFORCEMENT OF PROPERTY MAINTENANCE STANDARDS AND THE DEVELOPMENT OF AFFORDABLE HOUSING AND COMMERCIAL ACTIVITY WHICH WILL FOSTER ENHANCED ECONOMIC DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Ruzzo Board Chair | OfficerTrustee | 1 | $0 |
Robert Dicaprio Vice Chair | OfficerTrustee | 1 | $0 |
Joseph Berlant Treasurer | OfficerTrustee | 1 | $0 |
Richard Patierne Secretary | OfficerTrustee | 1 | $0 |
Bob Martin Director | Trustee | 1 | $0 |
Kristin Diotte Assistant Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gorick Construction Co Inc Construction Contractor | 12/30/20 | $534,623 |
Better Community Neighborhoods Home Rehabilitation | 12/30/20 | $200,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $612,379 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,384 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $623,763 |
| Total Program Service Revenue | $774,233 |
| Investment income | $33,106 |
| 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 | $1,431,102 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $90,910 |
| Fees for services: Legal | $29,573 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,412 |
| Advertising and promotion | $3,672 |
| Office expenses | $100 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $366 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,432 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,488 |
| All other expenses | $0 |
| Total functional expenses | $1,280,817 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,170,733 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| 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 | $2,170,733 |
| Accounts payable and accrued expenses | $72,385 |
| 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 | $0 |
| Total liabilities | $72,385 |
| Net assets without donor restrictions | $2,098,348 |
| 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 | $2,170,733 |
Grants Awarded
Over the last fiscal year, Land Reutilization Corporation Of The Capital Region has awarded $111,100 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
THE COMMUNITY BUILDERS INC PURPOSE: HOUSING RENOVATION AND DEVELOPMENT | $71,600 |
HOA RENAISSANCE PROPERTY LLC PURPOSE: HOUSING RENOVATION AND DEVELOPMENT | $39,500 |