Explore Buffalo Inc

Analysis

Explore Buffalo Inc is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in June 2017, 9 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Explore Buffalo Inc reported income of $497k and spending of $500k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $392k to $497k (+27%), an average of +6.1% a year. The sharpest change came in the year to December 2021, when income rose by 36%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Explore Buffalo Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 66th percentile within NY. Charities of a similar size with the same main cause include Community Media Access Partnership ($497k), Intersect Arts Center ($497k) and Local Reporting Lab Initiative Inc ($497k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 57% and program service revenue 43% of the total. Compensation of current officers, directors and key employees was $81k (16% of expenses). Other salaries and wages came to $190k. At year end it held assets of $85k against liabilities of $85k, net assets of -$775. It reported 7 employees.