Invest Buffalo Niagara Inc
- Assets
- $2.1m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 12
- Location
- Buffalo, NY
- Founding
- 01/2001
- Data as of
- 06/2022
- EIN
- 16-1579523
Organization Overview
Invest Buffalo Niagara Inc is located in Buffalo, NY. The organization was established in 2001. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Invest Buffalo Niagara Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Invest Buffalo Niagara Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2022, Invest Buffalo Niagara Inc generated $2.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $2.0m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ATTRACT JOB AND INVESTMENT WEALTH TO THE 8 COUNTIES IN WESTERN NEW YORK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INVEST BUFFALO NIAGARA HELPS IMPROVE THE ECONOMIC AND COMMUNITY VITALITY OF THE BUFFALO-NIAGARA REGION THROUGH THE ATTRACTION OF THE NEW INVESTMENT AND JOB CREATION OPPORTUNITIES FROM OUTSIDE THE REGION, AS WELL AS THROUGH LOCAL JOB RETENTION AND GROWTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas A Kucharski President & CEO | OfficerTrustee | 40 | $310,373 |
Douglas Dimitroff Chair | OfficerTrustee | 1 | $0 |
Kenneth Kujawa Vice-Chair | OfficerTrustee | 1 | $0 |
Rebecca Gandour Secretary | OfficerTrustee | 1 | $0 |
Michael O'brien Treasurer | OfficerTrustee | 1 | $0 |
Richard Argentieri Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $50,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,180,321 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,230,321 |
| Total Program Service Revenue | $0 |
| Investment income | $151 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,231,687 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $369,548 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $664,228 |
| Pension plan accruals and contributions | $26,838 |
| Other employee benefits | $14,601 |
| Payroll taxes | $75,923 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $28,894 |
| Advertising and promotion | $230,897 |
| Office expenses | $21,480 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $109,154 |
| Travel | $15,291 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $51,530 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,596 |
| Insurance | $13,781 |
| All other expenses | $25,997 |
| Total functional expenses | $1,962,473 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,478,067 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $554,369 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $28,909 |
| Net Land, buildings, and equipment | $39,819 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,101,164 |
| Accounts payable and accrued expenses | $227,311 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $227,311 |
| Net assets without donor restrictions | $1,873,853 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,101,164 |