KINGSTON CITY LAND BANK INC

EIN: 830542587 501(c)(3) Housing & Shelter

KINGSTON, NY

Total Revenue
$3,379,746
Total Expenses
$1,229,647
Total Assets
$5,800,080
Net Assets
$5,104,886
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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
2018
Legal Domicile
NY
Principal Officer
NATE HENNAGIN
Phone
8453343951
Tax Period
2024-01-01 to 2024-12-31

KINGSTON CITY LAND BANK INC, founded in 2018, is a community nonprofit in the Housing & Shelter sector that reported $3.4M in total revenue in fiscal year 2024. Revenue surged 196% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.2M, a strong 64% operating margin.

Mission

WE BELIEVE EVERYONE HAS THE RIGHT TO A SAFE, AFFORDABLE, AND HIGH-QUALITY PLACE TO LIVE. THEREFORE, THE MISSION OF THE KINGSTON CITY LAND BANK IS TO FOSTER AN EQUITABLE COMMUNITY WHERE VACANT OR DISTRESSED PROPERTIES ARE TRANSFORMED INTO COMMUNITY ASSETS THAT IMPROVE THE QUALITY OF LIFE FOR KINGSTON RESIDENTS, STABILIZE AND ENHANCE NEIGHBORHOODS, AND CREATE NEW PATHWAYS FOR SOCIAL AND ECONOMIC DEVELOPMENT.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $3,452,085
Program Service Revenue $48,410
Investment Income $64,941
Other Revenue $-185,690
TOTAL REVENUE $3,379,746

Expense Breakdown

Grants Paid $4,737
Salaries & Benefits $503,526
Fundraising Expenses $0
Program Expenses $1,018,385
Other Expenses $721,384
TOTAL EXPENSES $1,229,647

Year-over-Year Comparison

2024 2023 Change
Revenue $3,379,746 $1,142,198 +2.0%
Expenses $1,229,647 $645,629 +0.9%
Net Income $2,150,099 $496,569 +3.3%
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

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Governance

Voting Members
7
Independent Members
7
Employees
4
Volunteers
N/A

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
5
$195,968
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
NATE HENNAGIN CHAIR 5.00
Officer Director
$0 $0 $0
AARON CHILEWICH VICE CHAIR 5.00
Officer Director
$0 $0 $0
BARBARA LOANNIDIS SECRETARY 5.00
Officer Director
$0 $0 $0
REBECCA HOLDERNESS TREASURER 5.00
Officer Director
$0 $0 $0
ETHEL KNOX MEMBER 5.00
Director
$0 $0 $0
JOANNA DORMAN MEMBER 5.00
Director
$0 $0 $0
STEVE NOBLE MEMBER 5.00
Director
$0 $0 $0
PAUL HEINTZ MEMBER 5.00
Director
$0 $0 $0
SARAH DELLORTO MEMBER 5.00
Director
$0 $0 $0
MICHAEL GILLIARD EXECUTIVE DIRECTOR 40.00
Officer
$190,260 $5,708 $195,968
KYLE COHEN REAL ESTATE PROJECT MANAGER 40.00
Highest
$105,783 $3,188 $108,971
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 $3,379,746 $1,229,647 $5,800,080 $2,150,099
2023 $1,142,198 $645,629 $2,983,452 $496,569
2022 $1,455,506 $494,900 $2,478,908 $960,606
2021 $1,653,558 $407,950 $1,924,765 $1,245,608
2020 $823,599 $571,858 $793,790 $251,741
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