Buffalo String Works Inc
- Assets
- $681.1k
- Revenue
- $832.5k
- Investments
- $0.0
- Employees
- 25
- Location
- Buffalo, NY
- Founding
- 12/2015
- Data as of
- 08/2022
- EIN
- 81-0718400
Organization Overview
Buffalo String Works Inc is located in Buffalo, NY. The organization was established in 2015. According to its NTEE Classification (A25) the organization is classified as: Arts Education, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 08/2022, Buffalo String Works Inc employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Buffalo String Works Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2022, Buffalo String Works Inc generated $832.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 56.2% each year . All expenses for the organization totaled $671.4k during the year ending 08/2022. While expenses have increased by 59.9% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
BUFFALO STRING WORKS PROVIDES RIGOROUS MUSIC INSTRUCTION AND A CREATIVE HOME FOR 100 REFUGEE, IMMIGRANT, AND HISTORICALLY MARGINALIZED YOUTH IN THE CITY OF BUFFALO, NY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE PROVIDE UP TO 6 HOURS OF HIGH QUALITY MUSIC INSTRUCTION EACH WEEK AND MULTIPLE PERFORMANCE OPPORTUNITIES EACH YEAR TO STUDENTS. WHILE PRIORITIZING MUSICAL EXCELLENCE, WE ALSO AIM TO CULTIVATE A POSITIVE SPACE THAT SUPPORTS OUR STUDENTS' DEVELOPMENT INTO CURIOUS, CONFIDENT, COMMITTED INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yuki Numata Resnick Executive Di | OfficerTrustee | 40 | $60,000 |
Barry Heneghan Treasurer | Officer | $0 | |
Brian Moseley Vice Preside | Officer | $0 | |
James Sampson President | Officer | $0 | |
Melissa Weiksnar Secretary | Officer | $0 | |
Crystal Selk Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $517,104 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $109,855 |
| All other contributions, gifts, grants, and similar amounts not included above | $178,256 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $805,215 |
| Total Program Service Revenue | $27,263 |
| Investment income | $0 |
| 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 | $832,478 |
| 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. | $60,000 |
| Compensation of current officers, directors, key employees. | $21,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $342,517 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,300 |
| Payroll taxes | $40,602 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,495 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30,760 |
| Advertising and promotion | $0 |
| Office expenses | $12,058 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $62,800 |
| Travel | $10,206 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,079 |
| All other expenses | $0 |
| Total functional expenses | $671,382 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $617,003 |
| Savings and temporary cash investments | $27,040 |
| Pledges and grants receivable | $28,438 |
| Accounts receivable, net | $0 |
| 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 | $8,637 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $681,118 |
| Accounts payable and accrued expenses | $9,609 |
| Grants payable | $0 |
| Deferred revenue | $116,054 |
| 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 | $125,663 |
| Net assets without donor restrictions | $317,344 |
| Net assets with donor restrictions | $238,111 |
| 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 | $681,118 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Buffalo String Works Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
The Frank G Raichle Foundation Buffalo, NY PURPOSE: GENERAL PURPOSE | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Manhattan School Of Music New York, NY | $110,734,113 | $63,876,459 |
Franklin Institute Philadelphia, PA | $191,202,786 | $32,040,912 |
Art Students League Of New York New York, NY | $112,886,191 | $14,274,262 |
Saul Steinberg Foundation New York, NY | $2,326,445 | $165,696 |
Studio In A School Association New York, NY | $26,491,871 | $6,228,421 |
Global Disciples Lancaster, PA | $4,481,434 | $6,431,035 |
Harlem School Of The Arts Inc New York, NY | $16,306,795 | $5,380,840 |
Dreamyard Project Inc Bronx, NY | $4,474,380 | $5,509,637 |
Grounds For Sculpture Inc Hamilton, NJ | $36,793,406 | $11,597,062 |
Powerhouse Arts Inc Brooklyn, NY | $187,718,007 | $2,438,930 |
Artists For Humanity Inc Boston, MA | $38,813,967 | $6,181,666 |
American Academy Of Arts And Letters New York, NY | $101,076,393 | $10,417,737 |