Albion Reinvestment Corporation
- Assets
- $1.4m
- Revenue
- $69.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Saginaw, MI
- Founding
- 04/2016
- Data as of
- 12/2021
- EIN
- 81-0880143
Organization Overview
Albion Reinvestment Corporation is located in Saginaw, MI. The organization was established in 2016. According to its NTEE Classification (S30) the organization is classified as: Economic 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. Albion Reinvestment Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" 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 COMBAT COMMUNITY DETERIORATION IN THE DOWNTOWN BUSINESS DISTRICT OF THE CITY OF ALBION, MICHIGAN AND SURROUNDING AREAS BY USING ALL EFFECTIVE MEANS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PURCHASE, SELL, IMPROVE, SUBDIVIDE, CONDOMINIUMIZE, DEMOLISH, LEASE, BORROW, PLEDGE, MORTGAGE, MANAGE AND CONTROL ANY REAL OR PERSONAL PROPERTY WHICH MAY BE NECESSARY TO FULFILL THE FOREGOING CHARITABLE PURPOSES OR WHICH MAY BE TRANSFERRED TO THE CORPORATION BY GIFT, GRANT, DEVISE, BEQUEST, OR OTHERWISE FOR THE GENERAL PURPOSES OF THE CORPORATION.
TO PURCHASE, SELL, IMPROVE, SUBDIVIDE, CONDOMINIUMIZE, DEMOLISH, LEASE, BORROW, PLEDGE, MORTGAGE, MANAGE AND CONTROL ANY REAL OR PERSONAL PROPERTY WHICH MAY BE NECESSARY TO FULFILL THE FOREGOING CHARITABLE PURPOSES OR WHICH MAY BE TRANSFERRED TO THE CORPORATION BY GIFT, GRANT, DEVISE, BEQUEST, OR OTHERWISE FOR THE GENERAL PURPOSES OF THE CORPORATION.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey A Ott Secretary | OfficerTrustee | $0 | |
Samuel Shaheen President | OfficerTrustee | $0 | |
Jeff Petherick Treasurer-Di | OfficerTrustee | $0 | |
Mathew Johnson Director | Trustee | $0 | |
Pastor Albert Amos Director | Trustee | $0 | |
Mae Ola Dunklin Director | Trustee | $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 | $25,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,000 |
| Total Program Service Revenue | $42,685 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,472 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $69,157 |
| 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 | $0 |
| Fees for services: Legal | $54,204 |
| 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 | $14,040 |
| Advertising and promotion | $0 |
| Office expenses | $426 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $89,389 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $13,377 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,450 |
| Insurance | $3,307 |
| All other expenses | $124 |
| Total functional expenses | $238,393 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,821 |
| Savings and temporary cash investments | $6,473 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,089 |
| 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 | $1,363,342 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,819 |
| Total assets | $1,403,544 |
| Accounts payable and accrued expenses | $0 |
| 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 | $667,630 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $160,435 |
| Other liabilities | $235,691 |
| Total liabilities | $1,063,756 |
| Net assets without donor restrictions | $339,788 |
| 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 | $1,403,544 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Albion Reinvestment Corporation has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Dr Samuel Shaheen Family Foundation Saginaw, MI PURPOSE: CONTRIBUTION | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
16 Tech Community Corporation Indianapolis, IN | $90,414,871 | $43,820,376 |
Invest Detroit Foundation Detroit, MI | $154,389,743 | $12,808,930 |
Wright Brothers Institute Inc Dayton, OH | $23,307,656 | $22,085,089 |
Visit Indy Inc Indianapolis, IN | $20,981,890 | $14,589,218 |
The Convention And Visitors Bureau Of Greater Cleveland Inc Cleveland, OH | $25,296,918 | $17,425,666 |
Columbus Downtown Development Corporation Columbus, OH | $118,710,723 | $12,117,471 |
Wisconsin Dells Visitor & Convention Bureau Wisconsin Dells, WI | $26,952,168 | $17,110,395 |
Metropolitan Detroit Convention & Vistors Bureau Detroit, MI | $36,765,048 | $14,015,809 |
Detroit Economic Growth Corp Detroit, MI | $7,209,211 | $10,420,774 |
Lawrence Economic Development Corporation South Point, OH | $62,339,240 | $9,945,474 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Southwest Michigan First Corporation Kalamazoo, MI | $10,945,070 | $8,560,798 |