Buffalo Niagara Convention Center Management Corporation

Analysis

Buffalo Niagara Convention Center Management Corporation is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in January 1980, 46 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Buffalo Niagara Convention Center Management Corporation reported income of $4.9m and spending of $5.5m, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $5.0m to $4.9m (-0.9%), an average of -0.2% a year. The sharpest change came in the year to December 2022, when income rose by 81%. Over the whole period it spent 104% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Buffalo Niagara Convention Center Management Corporation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include Denverworks ($4.9m), Reserve Elder Service Inc ($5.0m) and Center for Economic Democracy ($4.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 40% and program service revenue 24% of the total. Compensation of current officers, directors and key employees was $146k (2.7% of expenses). Other salaries and wages came to $2.8m. At year end it held assets of $1.0m against liabilities of $598k, net assets of $407k. It reported 220 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.