Capitalize Albany Corporation
Capitalize Albany Corporation
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About this organization
Mission
PRESERVATION AND EXPANSION OF EMPLOYMENT AND COMMERCIAL/INDUSTRIAL TAX BASE IN THE CITY OF ALBANY
About
CAPITALIZE ALBANY CORPORATION (THE "CORPORATION") ADMINISTERS AND PROVIDES STAFFING, OFFICE EQUIPMENT, PHONE AND COMPUTER NETWORK SUPPORT TO THE CITY OF ALBANY INDUSTRIAL DEVELOPMENT AGENCY (CAIDA) AND THE CITY OF ALBANY CAPITAL RESOURCE CORPORATION (CACRC). DURING 2019, SEVERAL ORGANIZATIONS UTILIZED THE PROGRAMS AND INCENTIVES OF CAIDA. THE APPROVAL OF THE PROJECTS WILL RESULT IN OVER $185 MILLION OF INVESTMENT WITHIN THE CITY OF ALBANY. THESE PROJECTS ARE ANTICIPATED TO CREATE OR RETAIN NEARLY 1,000 TEMPORARY AND PERMANENT JOBS WITHIN THE CITY AND CREATE MORE THAN 625 UNITS OF BOTH AFFORDABLE AND MARKET-RATE HOUSING.THE REVITALIZATION OF DOWNTOWN ALBANY IS A STRATEGIC PRIORITY OF THE CORPORATION. IN RESPONSE TO THE RECOGNIZED NEED FOR A COMMON VISION, STRATEGIC DIRECTION, AND TACTICAL SOLUTIONS TO ISSUES FACING THE DOWNTOWN NEIGHBORHOOD, THE CORPORATION WORKED WITH A CONSULTANT TEAM IN 2013 TO PREPARE A TACTICAL REVITALIZATION PLAN FOR DOWNTOWN ALBANY. THIS TACTICAL REVITALIZATION PLAN, THE "IMPACT DOWNTOWN ALBANY STRATEGY," WAS LAUNCHED IN 2014 AND CONTINUES TO BE A DRIVING FORCE BEHIND MUCH OF THE GROWTH SEEN IN THE CITY OF ALBANY. THROUGH DECEMBER 31, 2019, IMPACT DOWNTOWN ALBANY HAS LED TO MORE THAN $400 MILLION OF PROJECT INVESTMENT RECENTLY COMPLETED AND UNDERWAY WITHIN THE CITY OF ALBANY. FACILITATING THE CREATION OF DOWNTOWN RESIDENTIAL UNITS CONTINUES TO BE A PRIORITY AND WILL ACT AS A DRIVING MARKET FORCE FOR ECONOMIC DEVELOPMENT. UNDER IMPACT DOWNTOWN ALBANY THE CORPORATION HAS ASSISTED IN THE CREATION OF MORE THAN 1,000 UNITS TO DATE.DURING 2019, THE CORPORATION ALSO PROVIDED APPROXIMATELY $187,000 FUNDED UNDER THE "AMPLIFY ALBANY", "DOWNTOWN RETAIL", AND "FACADE" GRANT PROGRAMS TO VARIOUS RECIPIENTS FOR THE FUNDING OF EVENTS AND OTHER INITIATIVES AND TO ASSIST WITH COSTS ASSOCIATED WITH RENOVATING OR PREPARING COMMERCIAL SPACE FOR AN ELIGIBLE RETAIL USE.
Interesting data from their 2020 990 filing
According to the filing documents, the non-profit's mission is defined as “Facilitating the creation of new employment opportunities, retaining existing jobs and encouraging investment that will expand the commercial and industrial tax base within the city of albany.”.
When referring to its tasks, they were referred to as: “Preservation and expansion of employment and commercial/industrial tax base in the city of albany”.
- The non-profit's state of operation has been legally reported as NY.
- According to the latest filing, the non-profit's address in 2020 is 21 LODGE ST, ALBANY, NY, 122072104.
- The total number of employees reported by the non-profit on their form for 2020 is 9.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $4,039,800.
- The organization has 16 independent voting members.
- The organization was formed in 1979.
- The organization pays $895,439 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.