Buffalo & Erie County Regional Development Corp

Analysis

Buffalo & Erie County Regional Development Corp is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in August 1979, 47 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 & Erie County Regional Development Corp reported income of $832k and spending of $326k, leaving 61% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $543k to $832k (+53%), an average of +11% a year. The sharpest change came in the year to December 2021, when income rose by 943%. Over the whole period it spent 46% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Buffalo & Erie County Regional Development Corp sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 73rd percentile within NY. Charities of a similar size with the same main cause include Opelika Chamber Foundation ($832k), Commuter Link Incorporated ($832k) and Cleveland Citywide Development Corporation ($830k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 10% and program service revenue 81% of the total. At year end it held assets of $23.0m against liabilities of $315k, net assets of $22.7m.