Kingston City Land Bank
- Assets
- $1.9m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Kingston, NY
- Founding
- Data as of
- 12/2021
- EIN
- 83-0542587
Organization Overview
Kingston City Land Bank is located in Kingston, NY. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kingston City Land Bank 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 12/2021, Kingston City Land Bank generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 41.7% each year . All expenses for the organization totaled $408.0k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
WE BELIEVE EVERYONE HAS THE RIGHT TO A SAFE, AFFORDABLE, AND HIGH-QUALITY PLACE TO LIVE. THEREFORE, THE MISSION OF THE KINGSTON CITY LAND BANK IS TO FOSTER AN EQUITABLE COMMUNITY WHERE VACANT OR DISTRESSED PROPERTIES ARE TRANSFORMED INTO COMMUNITY ASSETS THAT IMPROVE THE QUALITY OF LIFE FOR KINGSTON RESIDENTS, STABILIZE AND ENHANCE NEIGHBORHOODS, AND CREATE NEW PATHWAYS FOR SOCIAL AND ECONOMIC DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO COMBAT THE PROBLEM OF VACANT/ABANDONED PROPERTIES AND NEED FOR AFFORDABLE HOUSING IN KINGSTON, NEW YORK. TO FACILITATE THE RETURN OF VACANT, ABANDONED AND TAX-DELINQUENT PROPERTIES TO PRODUCTIVE USE THROUGH THE USE OF FUNDS AND POWERS GRANTED UNDER THE NEW YORK STATE (NYS) COMMUNITY REVITALIZATION INITIATIVE PROGRAM (CRI). THIS IS ADMINISTERED BY THE NEW YORK STATE OFFICE OF THE ATTORNEY GENERAL AND PRIVATE FOUNDATION DOLLARS FROM THE NOVO FOUNDATION AND ENTERPRISE COMMUNITY PARTNERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Gilliard Executive Director | Officer | 20 | $150,403 |
Erica Lane CFO | Officer | 20 | $77,083 |
Nate Hennagin Treasurer | OfficerTrustee | 5 | $0 |
Bob Dennison Vice-Chairperson | OfficerTrustee | 5 | $0 |
Daniel Kanter Chairperson | OfficerTrustee | 5 | $0 |
Bartek Starodaj Secretary | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Meyer Contracting Corp Contracting | 12/30/21 | $524,190 |
New York Development Advisory Group Llc- Management Services | 12/30/21 | $150,403 |
Maeda Construction Inc Contracting | 12/30/21 | $259,403 |
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 | $2,240,621 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,240,621 |
| Total Program Service Revenue | $0 |
| Investment income | $273 |
| 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 | -$587,336 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,653,558 |
| 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. | $227,486 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $49,417 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,000 |
| 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 | $9,113 |
| Advertising and promotion | $5,183 |
| Office expenses | $12,587 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,649 |
| Travel | $45 |
| 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 | $247 |
| Insurance | $45,723 |
| All other expenses | $14 |
| Total functional expenses | $407,950 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,366,747 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $231,350 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $319,637 |
| Prepaid expenses and deferred charges | $6,167 |
| Net Land, buildings, and equipment | $864 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,924,765 |
| Accounts payable and accrued expenses | $135,838 |
| Grants payable | $0 |
| Deferred revenue | $291,315 |
| 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 | $427,153 |
| Net assets without donor restrictions | $473,706 |
| Net assets with donor restrictions | $1,023,906 |
| 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 | $1,924,765 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Kingston City Land Bank has recieved totaling $1,755,833.
| Awarding Organization | Amount |
|---|---|
Novo Foundation Kingston, NY PURPOSE: GENERAL SUPPORT | $708,500 |
Novo Foundation Kingston, NY PURPOSE: PROJECT SUPPORT: HOUSING PILOT PROGRAM | $442,333 |
Enterprise Community Partners Inc Columbia, MD PURPOSE: CAPACITY BUILDING | $325,000 |
Novo Foundation Kingston, NY PURPOSE: PROJECT SUPPORT: LAND BANK ACQUISITIONS | $275,000 |
Ulster Savings Charitable Foundation Kingston, NY PURPOSE: EXEMPT PURPOSE | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Aspire Of Western New York Inc Getzville, NY | $37,144,710 | $73,972,719 |
Allegheny Council To Improve Our Neighborhoods-Housing Incorporated Pittsburgh, PA | $58,739,057 | $67,049,805 |
Commission On Economic Opportunity Of Luzerne County Wilkesbarre, PA | $24,684,280 | $41,061,242 |
Community First Fund Lancaster, PA | $129,035,730 | $44,963,943 |
Neighborhood Assistance Corporation Of America Boston, MA | $267,784,866 | $49,655,624 |
Womens Housing And Economic Development Corporation Bronx, NY | $29,527,353 | $27,859,543 |
Joint Ownership Entity New York City Corp New York, NY | $155,995,039 | $17,434,025 |
Breaking Ground Housing Development Fund Corporation New York, NY | $193,138,085 | $25,961,669 |
Highland Park Community Development Corporation Brooklyn, NY | $3,265,910 | $15,414,103 |
Centerboard Inc Lynn, MA | $21,186,335 | $15,673,773 |
Beyond Owners Group Inc Willow Street, PA | $131,731,512 | $8,827,345 |
Springpoint Senior Living Inc Cherry Hill, NJ | $72,542,176 | $10,591,630 |