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Nonprofiteer
← BUFFALO NEIGHBORHOOD STABILIZATION COMPANY INC

Form 990 for tax year 2023

Filed by BUFFALO NEIGHBORHOOD STABILIZATION COMPANY INC.

Totals

Total revenue
$2,243,540
Total expenses
$1,706,563
Contributions and grants received
$2,055,363
Grants paid
$0
Program service revenue
$187,248
Investment income
$26
Other revenue
$903
Total assets, end of year
$4,653,546
Total liabilities, end of year
$1,390,689
Net assets or fund balances, end of year
$3,262,857
Program services expenses (Part IX)
$1,672,421
Management and general expenses
$34,142
Fundraising expenses
$0
Program service expenses (Part III)
$1,672,421

Program services were 98.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $1,196,434

  • 1e · Government grants (contributions)

    $525,142

  • 1f · All other contributions, gifts and grants

    $333,787

  • 2a · Program service revenue: RENTAL INCOME

    total $133,334 · related or exempt $133,334

  • 2b · Program service revenue: MAINTENANCE FEES

    total $53,914 · related or exempt $53,914

  • 3 · Investment income

    total $26 · excluded $26

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $903 · related or exempt $903

  • 11e · Other revenue, total

    $903

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $244,977 · program services $229,054 · management and general $15,923

  • 9 · Other employee benefits

    total $24,771 · program services $23,161 · management and general $1,610

  • 10 · Payroll taxes

    total $22,531 · program services $21,067 · management and general $1,464

  • 11b · Fees: legal

    total $25,118 · program services $23,407 · management and general $1,711

  • 11c · Fees: accounting

    total $12,075 · management and general $12,075

  • 13 · Office expenses

    total $3,390 · program services $3,390

  • 16 · Occupancy

    total $78,703 · program services $78,703

  • 17 · Travel

    total $18,439 · program services $18,439

  • 19 · Conferences, conventions and meetings

    total $2,862 · program services $2,858 · management and general $4

  • 22 · Depreciation, depletion and amortization

    total $70,208 · program services $70,208

  • 23 · Insurance

    total $26,274 · program services $26,274

  • 24a · Other expenses: DEVELOPMENT EXPENSE

    total $863,000 · program services $863,000

  • 24b · Other expenses: CONSULTING

    total $213,824 · program services $213,824

  • 24c · Other expenses: PROPERTY STABILIZATION

    total $40,059 · program services $40,059

  • 24d · Other expenses: PROPERTY TAXES

    total $18,350 · program services $18,350

  • 24e · All other expenses

    total $41,982 · program services $40,627 · management and general $1,355

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $173,327 · end of year $427,724

  • 3 · Pledges and grants receivable

    beginning of year $270,000 · end of year $192,477

  • 4 · Accounts receivable

    beginning of year $143,594 · end of year $126,371

  • 7 · Other notes and loans receivable

    beginning of year $245,154 · end of year $245,154

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,698 · end of year $12,218

  • 10a · Land, buildings and equipment: cost or other basis

    $1,109,178

  • 10b · Land, buildings and equipment: accumulated depreciation

    $631,626

  • 10c · Land, buildings and equipment, net

    beginning of year $377,517 · end of year $477,552

  • 13 · Investments: program-related

    beginning of year $652,486 · end of year $652,460

  • 15 · Other assets

    beginning of year $1,900,281 · end of year $2,519,590

  • 17 · Accounts payable and accrued expenses

    beginning of year $21,985 · end of year $454,986

  • 19 · Deferred revenue

    beginning of year $362,342 · end of year $313,272

  • 25 · Other liabilities

    beginning of year $660,850 · end of year $622,431

  • 27 · Net assets without donor restrictions

    beginning of year $2,725,880 · end of year $3,262,857

Mission and programs · 2023

Mission

TO DRIVE THE DEVELOPMENT THAT IS TRANSFORMING OLDER HOUSES AND APARTMENTS INTO GREEN, PERMANENTLY AFFORDABLE RENTAL HOUSING FOR BUFFALO'S WEST SIDE RESIDENTS. TO INCREASE ACCESS TO QUALITY AFFORDABLE HOUSING BY SUBSTANTIALLY INCREASING THE NUMBER OF UNITS BEING RENOVATED AND CONSTRUCTED EVERY YEAR, ENHANCE NEIGHBORHOOD FABRIC BY COORDINATING INVESTMENTS IN INFRASTRUCTURE AND REHABILITATE VACANT LOTS, PREVENT GENTRIFICATION AND DISPLACEMENT OF RESIDENTS BY ENSURING AFFORDABILITY OF BOTH RENTAL AND HOMEOWNER HOUSING UNITS, AND TO ACT AS A LAND BANK TO ACQUIRE VACANT HOUSING AND LOTS AND STABILIZE THEM IN PREPARATION FOR DEVELOPMENT.

  • PUSH GREEN AND PUSH BLUEBNSC LAUNCHED PUSH GREEN,A PROGRAM WITH THE GOAL OF WEATHERIZING HOMES ACROSS THE REGION. BNSC'S CENTRAL ACHIEVEMENT IN SCALING UP NEW ENERGY EFFICIENCY RETROFITS IS GREEN JOBS - GREEN NY (GJGNY), AN INNOVATIVE LAW DRAFTED IN PARTNERSHIP WITH THE CENTER FOR WORKING FAMILIES IN NYC. BNSC HAS MADE SIGNIFICANT PROGRESS IN IMPLEMENTING GJGNY TO SCALE-UP THE RETROFIT SECTOR AND TO EXPAND ACCESS TO GREEN JOBS FOR LOW-INCOME WORKERS AND HAS UNDERTAKEN A MAJOR INITIATIVE TO PROMOTE GREEN INFRASTRUCTURE, STORMWATER MANAGEMENT, AND GREEN JOBS. PUSH BLUE IS AN INTENSIVE EFFORT TO COMBAT BUFFALO'S COMBINED SEWER OVERFLOW (CSO) PROBLEM. PUSH HAS COMPLETED 34 GREEN INFRASTRUCTURE PROJECTS TO DATE INCLUDING RAIN GARDENS, A GREEN ROOF, BIOSWALES, AND RAINWATER CATCHMENT SYSTEMS.

    Expenses $180,740 · Revenue $53,914

  • COMMUNITY DEVELOPMENTBNSC CONDUCTS COMMUNITY DEVELOPMENT ACTIVITIES WHICH INCLUDE LAND BANKING, PROPERTY STABILIZATION, GREEN INFRASTRUCTURE, LANDSCAPE MANAGEMENT AND COMMUNITY PLANNING. FOR FUTURE DEVELOPMENT PROJECTS, BNSC ACQUIRES AND HOLDS PROPERTIES. BNSC ALSO ACQUIRES AND HOLDS VACANT LOTS FOR NEIGHBORHOOD STABILIZATION PURPOSES. MANY OF THESE VACANT LOTS SERVE AS DEMONSTRATION PROJECTS SUCH AS COMMUNITY GARDENS (BNSC MANAGES 70 COMMUNITY PLOTS IN FOUR GARDENS) AND RAIN GARDENS TO ADDRESS STORMWATER MANAGEMENT. BNSC'S LANDSCAPE MANAGEMENT DEPARTMENT INCLUDES A WORK YARD FOR EQUIPMENT, TOOLS AND SUPPLIES STORAGE, GREENHOUSE AND NURSERY GARDEN.

    Expenses $249,180

  • HOUSING DEVELOPMENTBNSC HAS DEVELOPED AN INNOVATIVE PROGRAM WITH DOCUMENTED EFFECTIVENESS TO ACQUIRE AND REHABILITATE RESIDENTIAL HOUSING AND VACANT LAND IN BUFFALO'S WEST SIDE. THE PROGRAM HAS ACCOMPLISHED RENOVATIONS OF MULTIPLE UNITS. BNSC ALSO INTEGRATES "GREEN" DEVELOPMENT INTO EACH OF ITS DEVELOPMENT PROJECTS INCLUDING A "NET ZERO" HOUSE ON WINTER STREET, INSTALLATION OF GREEN INFRASTRUCTURE SUCH AS ON-DEMAND WATER HEATERS, RADIANT FLOOR HEATING, SOLAR PANELS AND GEOTHERMAL HEATING SYSTEMS.

    Expenses $1,242,501 · Revenue $133,334

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Robert Jahnke

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Ramone Alexander

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Jim Anderson

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Rahwa Ghirmatzion

    VICE PRESIDENT

    Total calculated
    $103,452
    From this org
    $0
    From related orgs
    $103,452
    Other
    $0
    Hours/week
    1 + 40 related

  • Dawn Wells-Clyburn

    VICE PRESIDENT

    Total calculated
    $82,294
    From this org
    $0
    From related orgs
    $82,294
    Other
    $0
    Hours/week
    1 + 40 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • MASS AVE MANAGING MEMBER LLC

    RELATED · REAL ESTATE · NY · 49% owned · share of income -$26 · share of assets $423,444

    Directly controlled by BNSC HOLDING COMPANY LLC

  • S77 LLC

    RELATED · REAL ESTATE RENTAL · NY · 0.01% owned · share of income -$38 · share of assets $332,611 · general or managing partner

    Directly controlled by S77 MM LLC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • BNSC HOLDING COMPANY LLC

    C · REAL ESTATE · NY · 100% owned · share of income -$26 · share of assets $423,444 · controlled entity

    Directly controlled by BUFFALO NEIGHBORHOOD STABILIZATION COMPANY

  • PUSH GRO INC

    C · GREENHOUSE · NY

    Directly controlled by PEOPLE UNITED FOR SUSTAINABLE HOUSING INC

  • S77 MM LLC

    C · REAL ESTATE RENTAL · NY · 100% owned · share of income -$38 · share of assets $332,611 · controlled entity

    Directly controlled by BUFFALO NEIGHBORHOOD STABILIZATION COMPANY

Provenance

Return type
form_990
Tax year
2023
Filed
8 November 2024
IRS schema version
2023v5.1
Source object
202413139349301491

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