Civic Intelligence

Downtown Albany Restoration Program Inc.

990 • Fiscal year 2015 • EIN 14-1790346

Jan 01, 2015 to Dec 31, 2015 • Filed on Dec 01, 2017

Organization Profilewww.downtownalbany.org

View Organization Page

21 Lodge Street 1st FloorAlbany, NY 12207

(518) 465-2143

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$897,530

Up $176,094 (+24%) from 2014

Net Assets

Up

$753,505

Up $175,391 (+30%) from 2014

Liabilities

Up

$144,025

Up $703 (+0.5%) from 2014

Revenue And Expenses

Revenue

Down

$813,453

Down $35,205 (-4.1%) from 2014

Expenses

Down

$638,062

Down $179,708 (-22%) from 2014

Net Income

Up

$175,391

Up $144,503 (+468%) from 2014

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2011: $964,871Liabilities 2011: $274,336Net Assets 2011: $690,5352011Assets 2012: $882,743Liabilities 2012: $206,359Net Assets 2012: $676,3842012Assets 2013: $792,410Liabilities 2013: $245,184Net Assets 2013: $547,2262013Assets 2014: $721,436Liabilities 2014: $143,322Net Assets 2014: $578,1142014Assets 2015: $942,026Liabilities 2015: $144,025Net Assets 2015: $798,0012015Assets 2015: $897,530Liabilities 2015: $144,025Net Assets 2015: $753,5052015Assets 2016: $883,354Liabilities 2016: $103,262Net Assets 2016: $780,0922016Assets 2017: $912,508Liabilities 2017: $144,907Net Assets 2017: $767,6012017Assets 2018: $979,904Liabilities 2018: $78,429Net Assets 2018: $901,4752018Assets 2019: $995,043Liabilities 2019: $92,877Net Assets 2019: $902,1662019Assets 2020: $1,148,662Liabilities 2020: $99,049Net Assets 2020: $1,049,6132020Assets 2021: $1,186,781Liabilities 2021: $107,111Net Assets 2021: $1,079,6702021Assets 2022: $1,112,914Liabilities 2022: $128,151Net Assets 2022: $984,7632022Assets 2023: $1,041,305Liabilities 2023: $91,334Net Assets 2023: $949,9712023Assets 2024: $1,200,049Liabilities 2024: $182,149Net Assets 2024: $1,017,9002024

Highlighted filing

2015

Assets$897,530
Liabilities$144,025
Net Assets$753,505
Open 2015 Filing

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2011: $956,800Expenses 2011: $957,358Net Income 2011: -$5582011Revenue 2012: $881,311Expenses 2012: $895,462Net Income 2012: -$14,1512012Revenue 2013: $749,168Expenses 2013: $878,326Net Income 2013: -$129,1582013Revenue 2014: $848,658Expenses 2014: $817,770Net Income 2014: $30,8882014Revenue 2015: $857,949Expenses 2015: $638,062Net Income 2015: $219,8872015Revenue 2015: $813,453Expenses 2015: $638,062Net Income 2015: $175,3912015Revenue 2016: $747,328Expenses 2016: $720,741Net Income 2016: $26,5872016Revenue 2017: $901,745Expenses 2017: $914,236Net Income 2017: -$12,4912017Revenue 2018: $1,084,961Expenses 2018: $951,087Net Income 2018: $133,8742018Revenue 2019: $1,057,846Expenses 2019: $1,057,155Net Income 2019: $6912019Revenue 2020: $1,132,046Expenses 2020: $984,599Net Income 2020: $147,4472020Revenue 2021: $1,193,036Expenses 2021: $1,162,979Net Income 2021: $30,0572021Revenue 2022: $969,875Expenses 2022: $1,064,782Net Income 2022: -$94,9072022Revenue 2023: $1,162,489Expenses 2023: $1,197,281Net Income 2023: -$34,7922023Revenue 2024: $1,832,481Expenses 2024: $1,763,580Net Income 2024: $68,9012024

Highlighted filing

2015

Revenue$813,453
Expenses$638,062
Net Income$175,391
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Dec 1, 2017
Return Version
2015v3.0
Gross Receipts
$813,453
Mission and Program Overview

Mission

To restore, promote, and maintain the character and viability of downtown Albany and to improve the quality of life and overall image for those who live, work and visit the Capital City

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$259,382$503,911▲ $244,529
Savings and Temporary Cash Investments$426,909$205,299▼ $221,610
Accounts Receivable$6,714$158,918▲ $152,204
Land, Buildings, and Equipment, Net$19,982$18,509▼ $1,473
Prepaid Expenses and Deferred Charges$8,449$10,893▲ $2,444
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$721,436$897,530▲ $176,094
Other Assets Total-$0-
Liabilities
Other Liabilities$128,000$128,000→ $0
Accounts Payable and Accrued Expenses$15,322$16,025▲ $703
Total Liabilities$143,322$144,025▲ $703
Net Assets / Fund Balance
Unrestricted Net Assets$578,114$753,505▲ $175,391
Total Net Assets Fund Balance$578,114$753,505▲ $175,391
Total Liabilities and Net Assets / Fund Balance$721,436$897,530▲ $176,094

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$18,509$39,495$58,004
Compensation and Service Providers

Board Members and Trustees

NameTitle
Brad RosensteinChairman
Richard a RosenVice Chairman
Brendan CoxDirector
Daniel FarielloDirector
Dominick PurnomoDirector
Felton Mc LaughlinDirector
Holly BrownDirector
Hon Carolyn Mc LaughlinDirector
Hon Daniel P MccoyDirector
Hon Darius ShahinferDirector
Hon Kathy M SheehanDirector
James LinnanDirector
Jeffrey GordonDirector
John EversDirector
Karen LabergeDirector
Louis BannisterDirector
Mark AronowitzDirector
Mark YonallyDirector
Stephen M ClearyDirector
Georgette SteffensExecutive Direc
James P HartSecretary
Michael GulottyTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Abm Janitorial-northeast INCStreet CleaningPO BOX 1534, New York, NY 10008$120,000
Revenue and Support

Revenue Composition

Contributions and Grants
$812,693
Program Service Revenue
$0
Investment Income
$760
Other Revenue
$0
All Other Contributions
$812,693
Change in Net Assets
$175,391

Audited Revenue Reconciliation

Revenue per Audited Statements
$813,453
Revenue Not Reported on Form 990
$35,510
Total Revenue per Audited Statements
$848,963
Total Revenue per Form 990
$813,453
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$347,382
Salaries, Compensation, and Employee Benefits$290,680
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$161,553$34,484-$196,037
Current Officers, Directors, Trustees, and Key Employees$70,982$23,661-$94,643
All Other Expenses$23,256$6,880-$30,136
Occupancy$17,138$4,285-$21,423
Insurance$12,992$3,249-$16,241
Fees for Services Accounting$10,112$2,528-$12,640
Advertising$8,874--$8,874
Other Expenses$5,537$1,385-$6,922
Depreciation Depletion$3,913$979-$4,892
Total Functional Expenses$559,117$78,945$0$638,062

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$673,572
Expenses per Audited Statements$638,062
Total Expenses per Form 990$638,062
Expenses Not Reported on Form 990$35,510
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Reserve for Assessment Reductions$128,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“The organization's members consist of owners of properties within the district's boundaries and tenants leasing/renting property with the district's boundaries”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Form 990 is reviewed by the treasurer and presented and approved, for filing, by the board of directors”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The board of directors are required to annually confirm that there are no conflicts of interest.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The executive committee discusses, reviews, and obtains comparable data before voting on and setting the executive director's compensation”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“After review and recommendations by the executive committee, the board of directors approves the executive director's compensation. There are no other compensated officers or key employees(within the definition used in part vii)”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The organization makes its governing documents, conflict of interests policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Downtown Albany Restoration Program Inc
EIN
14-1790346
Phone
5184652143
Address
21 LODGE STREET 1ST FLOOR, ALBANY, NY 12207

Signing Officer

Name
Georgette Steffens
Title
Executive Direc
Signed
2017-12-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brad Rosenstein
Formed
1996
Legal Domicile
Ny
Voting Board Members
21
Independent Board Members
21
Employees
4
Volunteers
12

Preparer

Firm
Robert J Palmerino CPA
Address
79 NORTH PEARL ST, ALBANY, NY 12207-2294
Preparer
Robert J Palmerino CPA
Phone
5184324930
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D: Other Program Services Description

“Other program services 4: business development:cultivate business development activities through partnerships with property owners, real estate community, and city, state and county representatives for recruitment and attraction.”

Amended Explanation

“The 2015 form 990 is amended to correct a $44,496 error in accounts receivable as of december 31, 2015.”

Financial Statement Notes

Part X : FIN48 Footnote

“The BID adopted the authoritative guidance on accounting for and disclosure of uncertainty in tax positions on January 1, 2010, as required by generally accepted accounting principles with no cumulative adjustment required. Income tax benefits are recognized for income tax positions taken or expected to be taken on a tax return, only when it is deemed that the income tax position will be more likely than not sustained upon examination by taxing authorities. The BID believes that its income tax positions would be sustained under examination by taxing authorities. There are currently no examinations in progress, and the BID believes it is no longer subject to income tax examinations for the tax years prior to 2012.”

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IRS990/Form990PartVIISectionAGrp/PersonNm19RICHARD A ROSEN
IRS990/Form990PartVIISectionAGrp/PersonNm20MARK YONALLY
IRS990/Form990PartVIISectionAGrp/PersonNm21GEORGETTE STEFFENS
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IRS990/Form990PartVIISectionAGrp/TitleTxt1Director
IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
IRS990/Form990PartVIISectionAGrp/TitleTxt17Director
IRS990/Form990PartVIISectionAGrp/TitleTxt18Director
IRS990/Form990PartVIISectionAGrp/TitleTxt19VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt20Director
IRS990/Form990PartVIISectionAGrp/TitleTxt21Executive Direc
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IRS990/GamingActivitiesInd0false
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IRS990/GrantsToDomesticIndividualsGrp/TotalAmt00
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IRS990/GrantsToOrganizationsInd0false
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IRS990/InsuranceGrp/ProgramServicesAmt012992
IRS990/InsuranceGrp/TotalAmt016241
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IRS990/InterestGrp/TotalAmt00
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
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IRS990/LandBldgEquipCostOrOtherBssAmt058004
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IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
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IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0true
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IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
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IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/OtherExpensesGrp/ProgramServicesAmt140955
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt010893
IRS990/PrincipalOfficerNm0BRAD ROSENSTEIN
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgSrvcAccomActy3Grp/Desc0VISUAL IMPROVEMENTS:COLLABORATE WITH PROPERTY OWNERS AND CITY OFFICIALS TO RESEARCH, DEVELOP AND IMPLEMENT STREETSCAPE IMPROVEMENT STRATEGIES
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Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$897,530
Liabilities
$144,025
Net assets
$753,505
Revenue
$813,453
Expenses
$638,062
Net income
$175,391
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.20$0.18$1.02$1.83$1.76$0.07
2023Detailed filing. Detailed filing data is available for this year.$1.04$0.09$0.95$1.16$1.20$0.03
2022Detailed filing. Detailed filing data is available for this year.$1.11$0.13$0.98$0.97$1.06$0.09
2021Detailed filing. Detailed filing data is available for this year.$1.19$0.11$1.08$1.19$1.16$0.03
2020Detailed filing. Detailed filing data is available for this year.$1.15$0.10$1.05$1.13$0.98$0.15
2019Detailed filing. Detailed filing data is available for this year.$1.00$0.09$0.90$1.06$1.06$0.00
2018Detailed filing. Detailed filing data is available for this year.$0.98$0.08$0.90$1.08$0.95$0.13
2017Detailed filing. Detailed filing data is available for this year.$0.91$0.14$0.77$0.90$0.91$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.88$0.10$0.78$0.75$0.72$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.94$0.14$0.80$0.86$0.64$0.22
2015Detailed filing. Detailed filing data is available for this year.$0.90$0.14$0.75$0.81$0.64$0.18
2014Detailed filing. Detailed filing data is available for this year.$0.72$0.14$0.58$0.85$0.82$0.03
2013Detailed filing. Detailed filing data is available for this year.$0.79$0.25$0.55$0.75$0.88$0.13
2012Summary only. Only limited summary data is available for this year.$0.88$0.21$0.68$0.88$0.90$0.01
2011Summary only. Only limited summary data is available for this year.$0.96$0.27$0.69$0.96$0.96$0.00