716 Foundation Inc
- Assets
- $55.5k
- Revenue
- $3.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Buffalo, NY
- Founding
- Data as of
- 12/2023
- EIN
- 87-2553620
Organization Overview
716 Foundation Inc is located in Buffalo, NY. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 716 Foundation 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 12/2023, 716 Foundation Inc generated $3.4k in total revenue. All expenses for the organization totaled $148.4k during the year ending 12/2023.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE MINORITY, AT-RISK, UNDERPRIVELEGED OR SPECIAL NEEDS CHILDREN AND THEIR FAMILIES EDUCATIONAL OPPORTUNITIES AND EXPERIENCES AT WESTERN NY'S ART, CULTURAL, SCIENTIFIC, SPORTS AND ENTERTAINMENT INSTITUTIONS LOCATED WITHIN ERIE AND NIAGARA COUNTY, NEW YORK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANT FUNDS WERE USED TO PROVIDE FREE ADMISSION TICKETS TO MINORITY, AT-RISK, UNDERPRIVELEGED OR SPECIAL NEEDS CHILDREN, TO THE ZOO, MUSEUMS, AND CRADLE BEACH INC. FUTURE PLANS INCLUDE FUNDING CAPITAL IMPROVEMENTS TO THE ZOO'S BISON HABITAT.THE FOUNDATION ALSO FACILITATED THE DONATION TO CRADLE BEACH INC FOR RENOVATIONS TO THE CHILDREN'S BASKETBALL COURTS TO SUPPORT THE CAMPERS OF CRADLE BEACH WHO ARE OF MINORITY, AT RISK, UNDERPRIVILEGED OR SPECIAL NEEDS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aaron Stahura President | OfficerTrustee | 1 | $0 |
Edward Kresconko Vice President | OfficerTrustee | 1 | $0 |
Abigail Gregory Treasurer | OfficerTrustee | 1 | $0 |
Joshua Lippes Secretary | OfficerTrustee | 1 | $3,813 |
Martin Szymanski Director | Trustee | 1 | $0 |
Joshua Assad Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,350 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,350 |
| Total Program Service Revenue | $0 |
| 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 | $3,350 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $119,185 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,304 |
| Fees for services: Accounting | $2,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,500 |
| Advertising and promotion | $9,000 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $608 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $148,387 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,284 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $5,172 |
| Other assets | $42,000 |
| Total assets | $55,456 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $55,456 |
| Total liabilities and net assets/fund balances | $55,456 |
Grants Awarded
Over the last fiscal year, 716 Foundation Inc has awarded $117,685 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
ZOOLOGICAL SOCIETY OF BUFFALO INC PURPOSE: PROVIDE FREE ADMISSION TICKETS TO MINORITY, AT RISK, UNDERPRIVILEGED, OR SPECIAL NEEDS CHILDREN TO THE ZOO. ALSO SUPPORTED RENOVATION OF THE BISON EXHIBIT. | $51,265 |
EXPLORE AND MORE MUSEUM PURPOSE: PROVIDE 1,250 FREE ADMISSION TICKETS TO MINORITY, AT RISK, UNDERPRIVILEGED, OR SPECIAL NEEDS CHILDREN TO VISIT THE MUSEUM. | $10,920 |
BUFFALO FINE ARTS ACADEMY PURPOSE: PROVIDE SUPPLIES AND FUNDING TO HOLD THE ART ALIVES EVENT SO THAT MINORITY, AT RISK, UNDERPRIVILEGED, OR SPECIAL NEEDS CHILDREN FROM SCHOOLS CAN ATTEND THE EVENT. | $25,000 |
CRADLE BEACH INC PURPOSE: PROVIDE RENOVATIONS FOR CHILDREN'S BASKETBALL COURT TO SUPPORT THE CAMPERS OF CRADLE BEACH. THESE CAMPERS ARE OF MINORITY, AT RISK, UNDERPRIVILEGED OR SPECIAL NEEDS. | $30,500 |