Nonprofit · EIN 22-2353905
CAPITALIZE ALBANY CORPORATION
Tax-exempt · ALBANY, NY 12207
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $2,525,905 | $2,343,959 | $181,946 | $24,717,063 | $3,287,593 | $21,429,470 |
| December 31, 2024 | 990 | $3,228,308 | $1,803,481 | $1,424,827 | $25,025,974 | $3,791,876 | $21,234,098 |
| December 31, 2023 | 990 | $3,840,269 | $2,037,210 | $1,803,059 | $24,751,088 | $5,756,280 | $18,994,808 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $954,095
- of which government grants
- $878,395
- Membership dues
- $24,000
- Program service revenue
- $685,656
- Investment income
- $419,259
- Net rental income
- $367,210
- Net gain from sales of assets
- $87,502
- Other revenue
- $466,895
Expenses
- Grants and similar amounts paid
- $351,712
- Compensation of officers, directors and key employees
- $428,558
- Other salaries and wages
- $473,838
- Salaries, compensation and benefits (total)
- $1,096,753
- Professional fundraising fees
- $0
- Legal fees
- $62,880
- Accounting fees
- $206,242
- Occupancy
- $231,464
- Travel
- $5,186
- Depreciation
- $34,655
- Program services (functional)
- $1,330,532
- Management and general (functional)
- $1,013,427
Balance sheet and other
- Total assets, start of year
- $25,025,974
- Total assets, end of year
- $24,717,063
- Total liabilities, end of year
- $3,287,593
- Net assets, end of year
- $21,429,470
- Land, buildings and equipment
- $6,114,782
- Publicly traded securities
- $5,813,502
- Net assets without donor restrictions
- $21,310,623
- Net assets with donor restrictions
- $118,847
- Gross receipts
- $13,911,211
- Employees
- 8
- Volunteers
- 13
- Year formed
- 1979
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ASHLEY MOHL | PRESIDENT Officer | 37.5 | $223,296 | $35,854 |
| ANDREW CORCIONE | DIRECTOR REAL ESTATE DEVEL Officer | 37.5 | $155,317 | $14,090 |
| KAWEEDA ADAMS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL CASTELLANA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL FANCHER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANTHONY GADDY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID PARENTE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SONYA DEL PERAL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RICHARD SLEASMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DR TOYIN TOFADE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KAREN TORREJON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANDERS TOMSON | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| HEATHER MULLIGAN ESQ | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| JOHN HARRIS ESQ | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| JOHN VERO ESQ | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
990 for the year ended December 31, 2024: 15 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ASHLEY MOHL | PRESIDENT Officer | 37.5 | $190,069 | $53,665 |
| ANDREW CORCIONE | DIRECTOR REAL ESTATE DEVELOPMENT Officer | 37.5 | $126,700 | $14,281 |
| KAWEEDA ADAMS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL CASTELLANA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL FANCHER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANTHONY GADDY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID PARENTE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SONYA DEL PERAL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RICHARD SLEASMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DR TOYIN TOFADE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KAREN TORREJON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANDERS TOMSON | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| HEATHER MULLIGAN ESQ | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| JOHN HARRIS ESQ | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| JOHN VERO ESQ | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 17 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SARAH REGINELLI | PRESIDENT (UNTIL 11/17/23) Officer | 37.5 | $199,667 | $52,411 |
| ASHLEY MOHL | INTERIM PRES/DIR ECON DEVEL Officer | 37.5 | $147,165 | $46,649 |
| ANDREW CORCIONE | DIRECTOR OF REAL ESTATE DEV Officer | 37.5 | $117,954 | $13,295 |
| THOMAS CONOSCENTI | VICE PRESIDENT (UNTIL 6/30/23) Officer | 37.5 | $85,538 | $24,833 |
| KAWEEDA ADAMS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL FANCHER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANTHONY GADDY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| HEATHER MULLIGAN ESQ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID PARENTE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SONYA DEL PERAL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MATTHEW PETER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DR HAVIDAN RODRIGUEZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KAREN TORREJON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL CASTELLANA | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| ANDERS TOMSON | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| JOHN HARRIS ESQ | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| JOHN VERO ESQ | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 21 LODGE ST, ALBANY, NY 12207-2104
- Principal officer (990 for 2025)
- ANDERS TOMSON, 21 LODGE ST, ALBANY, NY 122072104
- Signed the 990
- ANDERS TOMSON, CHAIRMAN
- Phone
- (518) 434-2532
- Website
- WWW.CAPITALIZEALBANY.COM
- Return prepared by
- UHY ADVISORS NORTHEAST INC
Mission
THE MISSION OF CAPITALIZE ALBANY CORPORATION IS TO FACILITATE STRATEGIC ECONOMIC DEVELOPMENT AND STIMULATE TRANSFORMATIVE INVESTMENT THROUGHOUT THE CITY OF ALBANY, MAKING NEW YORK'S CAPITAL A VIBRANT PLACE TO THRIVE.
Program accomplishments
- CAPITALIZE ALBANY CORPORATION (CAC) PROVIDES ECONOMIC DEVELOPMENT SERVICES IN THE CITY OF ALBANY, WHICH INCLUDE AMONG OTHER THINGS: (1) THE MANAGEMENT OF THE CITY OF ALBANY INDUSTRIAL DEVELOPMENT AGENCY AND CITY OF ALBANY CAPITAL RESOURCES CORPORATION (2) THE ADMINISTRATION OF SMALL BUSINESS GRANT PROGRAMS ON BEHALF OF THE CITY OF ALBANY AND (3) THE DEVELOPMENT AND IMPLEMENTATION OF STRATEGIC ECONOMIC DEVELOPMENT INITIATIVES SUCH AS IMPACT DOWNTOWN AND THE LIBERTY PARK DEVELOPMENT AND CLINTON MARKET COLLECTIVE.Expenses $1,330,532 · grants $351,712 · revenue $1,152,551
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 22-2353905
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1981
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S31Z)
- Assets (IRS master file)
- $24,717,063
- Income (IRS master file)
- $13,911,211
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $2,525,905 | $2,343,959 | $24,717,063 | IRS |
| 990 | December 2024 | $3,228,308 | $1,803,481 | $25,025,974 | IRS |
| 990 | December 2023 | $3,840,269 | $2,037,210 | $24,751,088 | XML |
| 990 | December 2022 | $4,760,117 | $2,103,302 | $22,590,414 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 22-2353905).
Questions about CAPITALIZE ALBANY CORPORATION
- What is the EIN of CAPITALIZE ALBANY CORPORATION?
- The employer identification number (EIN) of CAPITALIZE ALBANY CORPORATION is 22-2353905.
- Is CAPITALIZE ALBANY CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1981.
- Are donations to CAPITALIZE ALBANY CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does CAPITALIZE ALBANY CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of CAPITALIZE ALBANY CORPORATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CAPITALIZE ALBANY CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of CAPITALIZE ALBANY CORPORATION?
- The 990 for the year ended December 31, 2025 names ANDERS TOMSON.
- Who are the officers and directors of CAPITALIZE ALBANY CORPORATION?
- The 990 for the year ended December 31, 2025 lists 15 people; 2 received compensation from the organization, the highest $223,296 (ASHLEY MOHL, PRESIDENT).
- How much revenue does CAPITALIZE ALBANY CORPORATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $2,525,905, expenses of $2,343,959 and total assets of $24,717,063 at year end.
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