Civic Intelligence

Downtown Albany Restoration Program Inc.

990 • Fiscal year 2021 • EIN 14-1790346

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 07, 2022

Organization Profilewww.downtownalbany.org

View Organization Page

21 Lodge Street 1st FloorAlbany, NY 12207

(518) 465-2143

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

40th percentile

0.09x

Higher debt load relative to assets than 40% of similar nonprofits.

2021 filings • NTEE S • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

36th percentile

0.09x

Higher debt load relative to revenue than 36% of similar nonprofits.

2021 filings • NTEE S • $1M-$5M nonprofits • Source year 2021

Net Margin

33rd percentile

2.5%

Higher net margin than 33% of similar nonprofits.

2021 filings • NTEE S • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

71st percentile

$154,932

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 13.0% of source-year revenue.

2021 filings • NTEE S • $1M-$5M nonprofits • Source year 2021

Asset Growth

39th percentile

3.3%

Faster asset growth than 39% of similar nonprofits.

2021 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

45th percentile

5.4%

Faster revenue growth than 45% of similar nonprofits.

2021 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets40th percentile

Assets

Up

$1,186,781

Up $38,119 (+3.3%) from 2020

Net Assets

Up

$1,079,670

Up $30,057 (+2.9%) from 2020

Liabilities

Up

$107,111

Up $8,062 (+8.1%) from 2020

Revenue And Expenses
Liabilities / Revenue36th percentileNet Margin33rd percentile

Revenue

Up

$1,193,036

Up $60,990 (+5.4%) from 2020

Expenses

Up

$1,162,979

Up $178,380 (+18%) from 2020

Net Income

Down

$30,057

Down $117,390 (-80%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth39th percentile

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 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

2021

Assets$1,186,781
Liabilities$107,111
Net Assets$1,079,670
Open 2021 Filing

Operations Trend

Revenue Growth45th percentile

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 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

2021

Revenue$1,193,036
Expenses$1,162,979
Net Income$30,057
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 7, 2022
Return Version
2021v4.0
Gross Receipts
$1,193,036
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$506,726$378,595▼ $128,131
Savings and Temporary Cash Investments$314,029$314,709▲ $680
Pledges and Grants Receivable$126,772$250,000▲ $123,228
Accounts Receivable$75,611$138,219▲ $62,608
Other Notes and Loans Receivable, Net$98,046$49,204▼ $48,842
Prepaid Expenses and Deferred Charges$22,179$40,869▲ $18,690
Land, Buildings, and Equipment, Net$9,799$15,185▲ $5,386
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$1,153,162$1,186,781▲ $33,619
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$53,549$57,111▲ $3,562
Other Liabilities$50,000$50,000→ $0
Total Liabilities$103,549$107,111▲ $3,562
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$999,613$1,079,670▲ $80,057
Net Assets With Donor Restrictions$50,000--
Total Net Assets Fund Balance$1,049,613$1,079,670▲ $30,057
Total Liabilities and Net Assets / Fund Balance$1,153,162$1,186,781▲ $33,619

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$15,185$76,460$91,645
Compensation and Service Providers
Top Officer Pay71st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Georgette SteffensExecutive DirecFT$124,342$30,590$154,932

Board Members and Trustees

NameTitle
FRANK O'CONNORPresident
Elizabeth Young JojoVice President
Angelo MaddoxDirector
Frank ZeoliDirector
Hon Daniel P MccoyDirector
Hon Darius ShahinferDirector
Hon Kathy M SheehanDirector
Kenneth CountermineDirector
Lena HartDirector
Leola EdelinDirector
Leyla KiosseDirector
Lucas RogersDirector
Mohamed HemmidDirector
Neil Mc GreevyDirector
Pamela NicholsDirector
Riley AckleyDirector
Tracy MetzgerDirector
David SarrafSecretary
Lisa Reddy FarrellTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Abm Janitorial-northeast INCStreet CleaningPO BOX 1534, New York, NY 10008$161,610
Revenue and Support

Revenue Composition

Contributions and Grants
$1,192,460
Program Service Revenue
$0
Investment Income
$576
Other Revenue
$0
All Other Contributions
$1,123,477
Change in Net Assets
$30,057

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,193,036
Revenue Not Reported on Form 990
$101,300
Total Revenue per Audited Statements
$1,294,336
Total Revenue per Form 990
$1,193,036
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$595,294
Salaries, Compensation, and Employee Benefits$448,019
Grants and Similar Amounts Paid$119,666
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$178,124$56,744-$234,868
Current Officers, Directors, Trustees, and Key Employees$93,257$31,085-$124,342
Grants to Domestic Orgs$119,666--$119,666
Advertising$75,379--$75,379
Other Employee Benefits$36,874$11,934-$48,808
All Other Expenses$22,710$16,023-$38,733
Payroll Taxes$22,604$7,315-$29,919
Fees for Services Other-$26,844-$26,844
Occupancy$16,647$5,387-$22,034
Insurance$9,218$2,983-$12,201
Other Expenses$10,217$648-$10,865
Pension Plan Contributions$7,617$2,465-$10,082
Depreciation Depletion$2,723$881-$3,604
Total Functional Expenses$999,665$163,314$0$1,162,979

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,214,279
Expenses per Audited Statements$1,162,979
Total Expenses per Form 990$1,162,979
Expenses Not Reported on Form 990$51,300
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Dawns Victory Sports CafeAlbany, NY-Covid Related Assistance$5,500
Emmanuel Thai RestaurantAlbany, NY-Covid Related Assistance$5,500
Mc Gearys Irish PubAlbany, NY-Covid Related Assistance$5,500
Pearl Street PubAlbany, NY-Covid Related Assistance$5,500
Wine and Dine Group LLCAlbany, NY-Covid Related Assistance$5,500
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$50,000
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 35% controlled entity
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
2022-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
FRANK O'CONNOR
Formed
1996
Legal Domicile
Ny
Voting Board Members
18
Independent Board Members
18
Employees
5
Volunteers
28

Preparer

Firm
Robert J Palmerino CPA
Address
79 NORTH PEARL ST, ALBANY, NY 12207
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.”

Financial Statement Notes

Part X : FIN48 Footnote

“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 2018.”

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

“Assessement reductions $36150 net assets released from restrictions $50000”

Part XII, Line 2D: Other expenses and losses per audited F/S

“Assessment reductions $36150”

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IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12President
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
IRS990/Form990PartVIISectionAGrp/TitleTxt17Director
IRS990/Form990PartVIISectionAGrp/TitleTxt18Director
IRS990/Form990PartVIISectionAGrp/TitleTxt19Secretary
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IRS990/FormationYr01996
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IRS990/FSAuditedInd0true
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IRS990/GamingActivitiesInd0false
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IRS990/GovernmentGrantsAmt068983
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IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
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IRS990/InsuranceGrp/ManagementAndGeneralAmt02983
IRS990/InsuranceGrp/ProgramServicesAmt09218
IRS990/InsuranceGrp/TotalAmt012201
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IRS990/InterestGrp/TotalAmt00
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IRS990/LandBldgEquipCostOrOtherBssAmt091645
IRS990/LegalDomicileStateCd0NY
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IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0To 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
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/OccupancyGrp/ProgramServicesAmt016647
IRS990/OccupancyGrp/TotalAmt022034
IRS990/OfficeExpensesGrp/TotalAmt00
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IRS990/OperateHospitalInd0false
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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt036874
IRS990/OtherEmployeeBenefitsGrp/TotalAmt048808
IRS990/OtherExpensesGrp/Desc0SUBCONTRACTS
IRS990/OtherExpensesGrp/Desc1SPECIAL EVENTS
IRS990/OtherExpensesGrp/Desc2SUPPLIES AND MATERIALS
IRS990/OtherExpensesGrp/Desc3MISCELLANEOUS
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1648
IRS990/OtherExpensesGrp/ProgramServicesAmt0292463
IRS990/OtherExpensesGrp/ProgramServicesAmt194580
IRS990/OtherExpensesGrp/ProgramServicesAmt217586
IRS990/OtherExpensesGrp/ProgramServicesAmt310217
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IRS990/OtherExpensesGrp/TotalAmt194580
IRS990/OtherExpensesGrp/TotalAmt218591
IRS990/OtherExpensesGrp/TotalAmt310865
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IRS990/PensionPlanContributionsGrp/TotalAmt010082
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0250000
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IRS990/PrincipalOfficerNm0FRANK O'CONNOR
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IRS990/ProgSrvcAccomActy2Grp/Desc0BUSINESS DEVELOPMENT:CULTIVATE BUSINESS DEVELOPMENT ACTIVITIES THROUGH PARTNERSHIPS WITH PROPERTY OWNERS, REAL ESTATE COMMUNITY, AND CITY, STATE AND COUNTY REPRESENTATIVES FOR RECRUITMENT AND ATTRACTION.
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IRS990/ProgSrvcAccomActy2Grp/GrantAmt0119666
IRS990/ProgSrvcAccomActy3Grp/Desc0CLEAN AND SAFE:PROVIDE ASSISTANCE IN MAINTAINING AND AUGMENTING CLEAN STREET/CURBS, TRASH PICK UP AND CLEANING OF SNOW AND ICE.
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IRS990/PYInvestmentIncomeAmt01981
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IRS990/PYSalariesCompEmpBnftPaidAmt0424055
IRS990/PYTotalExpensesAmt0984599
IRS990/PYTotalRevenueAmt01132046
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IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,186,781
Liabilities
$107,111
Net assets
$1,079,670
Revenue
$1,193,036
Expenses
$1,162,979
Net income
$30,057
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
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