NORTHEASTERN ASSOCIATION OF THE BL… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1913

Legal Domicile

Principal Officer

GLENN THOMPSON MD

Phone

5184631211

Tax Period

2024-01-01 to 2024-12-31

NORTHEASTERN ASSOCIATION OF THE BLIND AT ALBANY INC, founded in 1913, is a mid-sized nonprofit that reported $10.8M in total revenue in fiscal year 2024. Revenue surged 42% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.2M, a strong 39% operating margin.

Mission

TO ASSIST INDIVIDUALS WHO ARE BLIND OR VISUALLY IMPAIRED ACHIEVE INDEPENDENCE AND GROWTH.

Program Service Accomplishments

Program 1

Expenses: $1,065,532 Revenue: $848,021

COMMUNITY SERVICES PROVIDES ORIENTATION AND MOBILITY INSTRUCTION, LOW VISION EXAMINATIONS, REHABILITATION TEACHING AND SOCIAL WORK TO INDIVIDUALS WITH VISUAL IMPAIRMENT OR BLINDNESS. REHABILIATION...

COMMUNITY SERVICES PROVIDES ORIENTATION AND MOBILITY INSTRUCTION, LOW VISION EXAMINATIONS, REHABILITATION TEACHING AND SOCIAL WORK TO INDIVIDUALS WITH VISUAL IMPAIRMENT OR BLINDNESS. REHABILIATION SERVICES PROVIDES INDIVIDUAL INSTRUCTION ON PERSONAL, HOME, MANAGEMENT AND COMMUNICATION TASKS WITH THE USE OF ADAPTIVE TECHNIQUES AND EQUIPMENT. LOW VISION SERVICES PROVIDES OPPORTUNITY FOR AN INDIVIDUAL'S VISUAL AND PERSONAL NEEDS TO BE ASSESSED, AND FOR LOW VISION AIDS AND/OR TRAINING TO BE PRESCRIBED.

Program 2

Expenses: $4,608,627 Revenue: $5,686,520

TO PROVIDE EMPLOYMENT OPPORTUNITIES FOR BLIND AND VISUALLY IMPAIRED INDIVIDUALS. MANUFACTURING JOBS INCLUDE SEWING, QUALITY CONTROL, SHIPPING AND RECEIVING. THE ORGANIZATION FOCUSES ON APPLYING THE...

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $4,258,337

Program Service Revenue $6,535,048

Investment Income $34,054

Other Revenue $-9,238

TOTAL REVENUE $10,818,201

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,499,280

Fundraising Expenses $164,020

Program Expenses $5,674,159

Other Expenses $4,121,381

TOTAL EXPENSES $6,620,661

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,818,201	$7,637,918	+0.4%
Expenses	$6,620,661	$6,982,687	-0.1%
Net Income	$4,197,540	$655,231	+5.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$176,507

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVEN A SMITH JR	PRESIDENT	1.00	Officer Director	$0	$0	$0
GLENN THOMPSON MD	VICE CHAIR	0.50	Officer Director	$0	$0	$0
BRIAN P HENCHY	TREASURER	0.50	Officer Director	$0	$0	$0
KENYA JAMES	SECRETARY	0.50	Officer Director	$0	$0	$0
CARL V BENEVENTO	DIRECTOR	0.50	Director	$0	$0	$0
JACK CASTLE	DIRECTOR	0.50	Director	$0	$0	$0
SHAWN LEMIEUX	DIRECTOR	0.50	Director	$0	$0	$0
AREN PASTER	DIRECTOR	0.50	Director	$0	$0	$0
JONATHAN SCHERZER	DIRECTOR	0.50	Director	$0	$0	$0
JITKA ZOBAL-RATNER MD	DIRECTOR	0.50	Director	$0	$0	$0
LAURA E ZELIGER	EXECUTIVE DIRECTOR	35.00	Officer	$172,190	$4,317	$176,507

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$10,818,201	$6,620,661	$5,808,106	$4,197,540
2023	$7,637,918	$6,982,687	$6,560,519	$655,231
2022	$5,720,575	$6,013,242	$5,990,474	$-292,667
2021	$6,313,158	$5,839,134	$6,246,704	$474,024
2020	$5,518,196	$5,507,968	$6,103,881	$10,228
2019	$6,288,253	$6,784,225	$6,041,104	$-495,972
2019	$6,300,634	$6,784,225	$6,041,104	$-483,591
2018	$6,680,043	$7,262,579	$6,613,242	$-582,536
2018	$6,680,043	$7,262,579	$6,613,242	$-582,536

NORTHEASTERN ASSOCIATION OF THE BLIND AT ALBANY INC