Capitalize Albany Corporation
Capitalize Albany Corporation is a public charity based in Albany, New York. Founded in 1979, it describes itself as the City of Albany’s economic development arm, working to facilitate strategic economic development and investment and to help businesses grow in the city.
Capitalize Albany Corporation at a glance
In short: Capitalize Albany Corporation gave $309K across 17 grants in 2025 (avg $18K), mostly in New York. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $308,768
- +123.3% vs 2024
- Grants made (2025)
- 17
- +88.9% vs 2024
- Average grant
- $18,163
- +18.2% vs 2024
- Median grant
- $22,719
- Total assets
- $24,717,063
- -1.2% vs 2024
- Primary geography
- New York (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated October 2026.
How to apply to Capitalize Albany Corporation
- Review Cycle
- October 22, 2026, at 3 p.m. for the eighth-round City of Albany Small Business Facade Improvement Program.
- Deadline
- October 22, 2026, at 3 p.m.
- Contact
Mailing address: 21 Lodge St, Albany, NY 12207-2104
Phone: (518) 434-2532
Website: https://capitalizealbany.com
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
4 open opportunities from Capitalize Albany Corporation
Amplify Albany Grant Program
Capitalize Albany Corporation
Amount
Varies
Deadline
Deadline not published
City of Albany Small Business Facade Improvement Program
Capitalize Albany Corporation
Amount
Varies
Deadline
Deadline not published
Downtown Albany Retail Grant Program
Capitalize Albany Corporation
Amount
Varies
Deadline
Deadline not published
Who Capitalize Albany Corporation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Crys-Style Beauty LLC DBA STUDIO23 ($31K). Together the top 10 received $247K.
Grant Size Distribution
45 grants across all recorded years
The most common grant size was under $50K: 45 grants of 45 (100%).
Geographic Focus
Where this funder awards grants
The organization’s stated economic development work and grant programs focus on the City of Albany. The 2025 grants reported in the filing went entirely to recipients in New York.
Grant Distribution by State
Share of 2025 grant dollars across all 17 itemized grants.
States
Cities
How Capitalize Albany Corporation gives
Estimate from itemized grant lists in IRS Form 990 filings (2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $22K (2022) to $309K (2025). In 2025 it made 17 grants totaling $309K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Crys-Style Beauty LLC DBA STUDIO23 Albany, NY | Downtown Retail Grant | $31,030 |
| Viva Empanadas Albany, NY | Downtown Retail Grant Reimbursement | $28,000 |
| Foodscraps 360 LLC Albany, NY | Big Reimb | $25,000 |
| Halo Wholesale Food Company LLC Albany, NY | Big Reimbursement | $25,000 |
| Hot Crispy Oil LLC Albany, NY | Neighborhood Retail Grant Program | $25,000 |
| Reconstruction Home Ventures LLC Albany, NY | Big Grant Reimbursement | $25,000 |
| Rector Place Partners Inc Albany, NY | Big Reimbursement | $25,000 |
| Hive of Hope Inc Albany, NY | Big Grant Reimbursement | $23,128 |
| Latin American Hospitality Albany, NY | Big Grant | $22,719 |
| Bombshell Midtown Albany, NY | Big Grant | $17,110 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $24,717,063 | $2,525,905 | $2,343,959 | $308,768 | 17 | $419,259 |
| 2024 | $25,025,974 | $3,228,308 | $1,803,481 | $138,278 | 9 | $512,027 |
| 2023 | $24,751,088 | $3,840,269 | $2,037,210 | $210,754 | 13 | $433,523 |
| 2022 | $22,590,414 | $4,760,117 | $2,103,302 | $22,348 | 3 | $70,048 |
| 2021 | $22,968,487 | $2,084,460 | $2,268,819 | $26,227 | 3 | $73,786 |
| 2020 | $23,969,863 | $1,970,612 | $2,239,965 | $79,284 | 9 | $155,181 |
| 2019 | $24,213,667 | $5,589,110 | $1,549,310 | $141,260 | 12 | $210,240 |
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
The organization’s stated mission is to facilitate strategic economic development and stimulate transformative investment throughout the City of Albany.
Its grant programs support several kinds of activity in Albany. These include exterior renovations by small businesses; promotional projects, events, and programming intended to engage residents and attract visitors to commercial districts; and retail-location establishment, expansion, or improvement in downtown Albany. Eligible applicants for the programs described include businesses, nonprofits, and other organizations, with eligibility varying by program.
Grantmaking
In filing year 2025, Capitalize Albany reported 17 grants totaling $308,768. Grants ranged from $5,687 to $31,030, with a median of $22,719. The largest reported grants included $31,030 to CRYS-STYLE BEAUTY LLC DBA STUDIO23 for a downtown retail grant; $28,000 to VIVA EMPANADAS for a downtown retail grant reimbursement; and $25,000 each to FOODSCRAPS 360 LLC, HALO WHOLESALE FOOD COMPANY LLC, HOT CRISPY OIL LLC, RECONSTRUCTION HOME VENTURES LLC, and RECTOR PLACE PARTNERS INC. The stated purposes for those grants were BIG or neighborhood retail reimbursements or grants. All reported 2025 grant dollars went to recipients in New York.
The organization’s website describes active programs for Albany small-business facade improvements, Amplify Albany projects and events, and downtown retail. The facade program is a matching-grant program for exterior renovations. Its eighth-round application window opened September 8, 2026, and is scheduled to close October 22, 2026, at 3 p.m. The Small Business Building Improvement Grant program is no longer accepting applications. The filing says grants are paid after project completion and subject to evaluation and a compliance checklist.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Anders Tomson as chair. Directors listed are Kaweeda Adams, Michael Castellana, Michael Fancher, Anthony Gaddy, David Parente, Sonya Del Peral, Richard Sleasman, Dr. Toyin Tofade, and Karen Torrejon.
Capitalize Albany Corporation is led by Ashley Mohl, President since 2024 (on filings since 2021); 2 of 15 officers listed in 2025 are compensated.
Officers on the 2025 filing
Ashley Mohl
President
Director of Economic Development → Interim President & Director Econ Development, 2023
Interim President & Director Econ Development → President, 2024
On filings since 2021
37.5 hrs/week
$106K (2021) → $223K (2025)
Anders Tomson
Chair
Vice Chair → Chair, 2024
On filings since 2019
1 hr/week
No compensation reported
Andrew Corcione
Director Real Estate Development
Director of Real Estate Development → Director Real Estate Development, 2024
On filings since 2023
37.5 hrs/week
$118K (2023) → $155K (2025)
David Parente
Director
On filings since 2019
1 hr/week
No compensation reported
Karen Torrejon
Director
On filings since 2019
1 hr/week
No compensation reported
Kaweeda Adams
Director
On filings since 2019
1 hr/week
No compensation reported
Michael Castellana
Director
Chairman → Chair, 2020
Chair → Director, 2024
On filings since 2019
1 hr/week
No compensation reported
Michael Fancher
Director
On filings since 2019
1 hr/week
No compensation reported
Sonya Del Peral
Director
On filings since 2019
1 hr/week
No compensation reported
Anthony Gaddy
Director
On filings since 2021
1 hr/week
No compensation reported
Richard Sleasman
Director
On filings since 2024
1 hr/week
No compensation reported
Toyin Tofade
Director
On filings since 2024
1 hr/week
No compensation reported
John Harris Esq.
Treasurer
On filings since 2019
1 hr/week
No compensation reported
John Vero Esq.
Secretary
On filings since 2019
1 hr/week
No compensation reported
Heather Mulligan Esq.
Vice Chair
Director → Vice Chair, 2024
On filings since 2022
1 hr/week
No compensation reported
Former officers (10)
- Former: Havidan Rodriguez (2019–2023) — Director
- Former: Matthew Peter (2019–2023) — Director
- Former: Sarah Reginelli (2019–2023) — President
- Former: Thomas Conoscenti (2020–2023) — Vice President
- Former: Heather Briccetti Esq. (2019–2021) — Director
- Former: Jeffrey Sperry (2019–2021) — Director
- Former: Michele Vennard (2019–2021) — Director
- Former: Robert Curley (2019–2021) — Director
- Former: Susan Pedo (2019–2021) — Director
- Former: Thomas Owens Esq. (2019) — General Counsel & Secretary
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $223K, to Ashley Mohl (President). 2 officers or directors reported compensation on that filing.
Frequently asked questions about Capitalize Albany Corporation
How much does Capitalize Albany Corporation give each year?
Capitalize Albany Corporation gave $309K across 17 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $138K across 9 grants.
What is Capitalize Albany Corporation's typical grant size?
Capitalize Albany Corporation's median grant in 2025 was $22,719, and its average grant was $18,163, across 17 grants on its 2025 IRS Form 990.
Where does Capitalize Albany Corporation give grants?
Capitalize Albany Corporation gives mostly in New York: 100% of the grant dollars itemized on its 2025 IRS Form 990 went to recipients there. The most frequent recipient cities were Albany, NY (17 grants).
Does Capitalize Albany Corporation give general operating support?
Not in 2025: none of the 17 grants with a stated purpose on Capitalize Albany Corporation's 2025 IRS Form 990 were described as general or operating support. Recurring purposes include "Big Grant" (3 grants).
Who are Capitalize Albany Corporation's largest grantees?
Capitalize Albany Corporation's largest 2025 grantees include Crys-Style Beauty LLC DBA STUDIO23 ($31,030), Viva Empanadas ($28,000) and Foodscraps 360 LLC ($25,000), according to its 2025 IRS Form 990. Together they received 27% of its itemized 2025 grant dollars.
How large is Capitalize Albany Corporation?
Capitalize Albany Corporation reported $24.7M in total assets on its 2025 IRS Form 990. Its revenue that year was $2.5M.
What does Capitalize Albany Corporation fund?
The organization’s stated mission is to facilitate strategic economic development and stimulate transformative investment throughout the City of Albany. See mission & focus areas ↑
How do I apply for a grant from Capitalize Albany Corporation?
Capitalize Albany Corporation has no public application process in the sources Grantable reviewed. Check capitalizealbany.com for current guidelines, or contact the foundation directly before submitting a request.
What is Capitalize Albany Corporation's EIN?
Capitalize Albany Corporation's EIN (Employer Identification Number) is 22-2353905. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated October 2026. Sourced from IRS Form 990 filings. Research dossier generated October 2026.
Data update history
(8)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS May 12, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS May 16, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS May 15, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS July 16, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS May 14, 2025)
- Added Form 990 for fiscal year 2019 (received by the IRS June 18, 2020)
- Added Form 990 for fiscal year 2025 (received by the IRS May 14, 2026)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in Capitalize Albany Corporation's focus areas in our free grants database
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