Overview
What is Buffalo Urban Development Corporation?
Buffalo Urban Development Corporation (BUDC) is a nonprofit organization situated in Buffalo, New York. Their primary mission is to bolster the urban economic development of the region. This is achieved by acquiring, remediating, and managing distressed properties. By doing so, BUDC aims to attract and retain businesses in the city, contributing positively to the region's growth. Additionally, BUDC serves as the lead management entity for Buffalo Building Reuse Project (BBRP) initiatives, collaborating with the City of Buffalo to coordinate financial assistance for downtown adaptive reuse projects and public right-of-way improvements. With a team of three dedicated individuals, BUDC plays a crucial role in revitalizing downtown Buffalo, thereby fostering a thriving urban environment.
Official website here: www.buffalourbandevelopment.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 91% (Four-Star out of Four Stars)
Buffalo Urban Development Corporation has received a strong Four-Star rating from Charity Navigator, reflecting its high performance in accountability and finance. The organization scored 91% overall, which is solely based on its accountability and finance metrics. This rating indicates a strong commitment to financial transparency and responsible management of resources.
The organization boasts 100% independent board members, with a total of 19 members ensuring diverse oversight. It has demonstrated excellent practices in governance, including a robust audit and oversight committee, and adheres to policies addressing conflicts of interest and whistleblower protections. Financially, the organization has shown impressive metrics, such as a program expense ratio of 97.28%, indicating that nearly all of its funds are allocated toward its programs.
While the rating highlights exceptional financial management, there are no noted limitations or concerns in the provided data. Overall, Buffalo Urban Development Corporation exemplifies sound practices in accountability, ensuring that donor contributions are utilized effectively to support its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Buffalo Urban Development Corporation legitimate?
Buffalo Urban Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Buffalo Urban Development Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $291,076
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.buffalourbandevelopment.com
What is the mission statement of Buffalo Urban Development Corporation?
The Buffalo Urban Development Corporation's mission is centered around supporting the economic development of a specific region. This is achieved through the acquisition, remediation, and management of distressed properties. The organization also engages in various real estate development activities, with the goal of attracting and retaining businesses in the city. Additionally, Buffalo Urban Development Corporation plays a significant role in revitalizing downtown areas by serving as the lead management entity for specific projects, collaborating with local authorities, and providing financial assistance for adaptive reuse projects and public right-of-way improvements.
Official website here: www.buffalourbandevelopment.com
Who is the CEO of Buffalo Urban Development Corporation?
Brandye Merriweather is the Chairman of Buffalo Urban Development Corporation.
Official website here: www.buffalourbandevelopment.com
What is the revenue of Buffalo Urban Development Corporation?
Buffalo Urban Development Corporation's revenue in 2022 was $8,441,091.
Official website here: www.buffalourbandevelopment.com
Who are the executives of Buffalo Urban Development Corporation and what are their salaries?
The average compensation at Buffalo Urban Development Corporation during 2022 was $97,025. There are 3 employees and 18 volunteers at Buffalo Urban Development Corporation.
Here are 22 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $118,647
- Related: $0
- Other: $23,101
- Compensation: $105,748
- Related: $0
- Other: $29,467
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.buffalourbandevelopment.com
Where can I find the form 990 for Buffalo Urban Development Corporation?
Buffalo Urban Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.buffalourbandevelopment.com
Learn more at the official website: www.buffalourbandevelopment.com
Mission Statement of Buffalo Urban Development Corporation
Buffalo Urban Development Corporation (BUDC) is dedicated to supporting the urban economic development efforts of its region. It achieves this mission by acquiring, remediating, and managing distressed properties. By engaging in related real estate development activities, BUDC aims to attract and retain new businesses, as well as support the existing ones, within the city.
In addition to its property management activities, BUDC also plays a significant role in the revitalization of downtown Buffalo. It serves as the lead management entity for Buffalo Building Reuse Project (BBRP) initiatives, working in collaboration with the city of Buffalo. This collaboration includes the coordination of financial assistance for downtown adaptive reuse projects and public right-of-way improvements.
In summary, Buffalo Urban Development Corporation's mission is to contribute to the urban economic development of its region through strategic property acquisition, remediation, and management. By supporting new and existing businesses and leading downtown revitalization efforts, BUDC plays a crucial role in boosting the local economy and improving the overall quality of life in the city.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
The Buffalo Urban Development Corporation (BUDC) plays a vital role in revitalizing the urban landscape of Buffalo, NY, by focusing on the acquisition, remediation, and management of distressed properties. This initiative not only addresses issues associated with vacant or underutilized sites but also fosters economic development by attracting and retaining businesses in the city. Through strategic involvement in real estate development activities, BUDC enhances local infrastructure, making it more conducive for new ventures.
One of BUDC's key impacts is its leadership in the Buffalo Building Reuse Project (BBRP), which aims to repurpose historic and abandoned buildings, breathing new life into downtown Buffalo. By coordinating financial assistance for adaptive reuse projects, BUDC promotes sustainable development while ensuring that the downtown area remains vibrant and economically viable. Public right-of-way improvements further enhance the overall aesthetic and functionality of urban spaces, contributing to a more connected and accessible city for residents and visitors alike.
Through these multifaceted efforts, the Buffalo Urban Development Corporation is instrumental in supporting the economic revitalization of the region, creating a more attractive environment for both businesses and the community.
This information is meant to be a general summary of Buffalo Urban Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $99,788
- Program Service Revenue: $132,847
- Gross Receipts: $11,059,195
Assets and Liabilities:
- Total Assets: $135,361,384
- Total Liabilities: $54,441,805
- Net Assets: $80,919,579
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST & COMMITMENT FEES
Revenue
$96,664
BROWNFIELD REDEVELOPMENT
Revenue
$36,183
Organization Details
Founding Year
1978
Phone
(716) 856-6525Principal Officer
Brandye Merriweather
Main Address
95 PERRY STREET 404, BUFFALO, NY, 14203
NTEE Category
Code: S99 - Community improvement
If you are a representative of Buffalo Urban Development Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.