Overview
What is Buffalo Erie Niagara Land Improvement Corporation?
Buffalo Erie Niagara Land Improvement Corporation (BENLIC) is a nonprofit organization situated in Buffalo, New York. Their primary mission is to improve and sell distressed, vacant, abandoned, and/or tax delinquent properties. They employ various programs, such as municipal transfers for demolitions and community-funded rehabilitations, property transfers for partners, including non-profit organizations, and the Vacant to Value program, which sells properties to qualified buyers capable of necessary repairs. BENLIC also sells properties undergoing significant repairs to the public or income-qualified buyers, utilizing a multi-programmatic approach tailored to each property and community's needs. In 2022, BENLIC acquired 6 properties and disposed of 19, demonstrating their ongoing commitment to revitalizing distressed communities in the region.
Official website here: www.benlic.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92%, Four-Star out of Four Star Rating.
The Buffalo Erie Niagara Land Improvement Corporation has demonstrated a strong performance in accountability and finance, as reflected in its impressive 92% score. This rating is significant as it indicates effective management and transparency in financial practices, which are essential for fostering trust among donors and stakeholders. The organization excels in maintaining an independent board, with 100% of its members being independent, ensuring unbiased governance.
In terms of financial health, the nonprofit shows a solid program expense ratio of 84.15%, meaning that a large portion of its funding is directed towards its programs rather than administrative costs. Additionally, the organization has no material diversion of assets, further underscoring its financial integrity. The presence of policies for conflict of interest and whistleblower protections enhances its commitment to ethical practices.
Despite these strengths, the summary does not provide information on the organization's overall impact or specific programs, which could offer a more comprehensive view of its effectiveness in achieving its mission. However, the ratings reflect a well-managed organization that prioritizes accountability and financial responsibility.
This AI summary has been generated from information found on Charity Navigator.
Is Buffalo Erie Niagara Land Improvement Corporation legitimate?
Buffalo Erie Niagara Land Improvement Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Buffalo Erie Niagara Land Improvement 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: $128,802
Professional Fundraising Fees: $0
Other Salaries and Wages: $174,673
For more financial information, click here
Official website here: www.benlic.org
What is the mission statement of Buffalo Erie Niagara Land Improvement Corporation?
The Buffalo Erie Niagara Land Improvement Corporation, often referred to as BENLIC, aims to address and alleviate issues caused by distressed properties in communities. This is achieved by supporting municipal and regional revitalization efforts and strategically acquiring, improving, assembling, and selling distressed, vacant, abandoned, and/or tax-delinquent properties. BENLIC utilizes various programs to transfer and sell properties, including municipal transfers for demolitions and community-funded rehabilitations, partnerships with not-for-profit organizations and contractors for property rehabilitation, and the Vacant to Value program that sells properties to qualified buyers capable of repairs and renovations. Properties undergoing significant repairs and renovations are then sold to the public or income-qualified buyers. This multi-programmatic approach allows BENLIC to apply the best method to each property based on the housing market and the needs of each community. In 2022, BENLIC acquired 6 and disposed of 19 properties.
Official website here: www.benlic.org
Who is the CEO of Buffalo Erie Niagara Land Improvement Corporation?
Jocelyn Gordon is the Chair of Buffalo Erie Niagara Land Improvement Corporation.
Official website here: www.benlic.org
What is the revenue of Buffalo Erie Niagara Land Improvement Corporation?
Buffalo Erie Niagara Land Improvement Corporation's revenue in 2022 was $1,643,388.
Official website here: www.benlic.org
Who are the executives of Buffalo Erie Niagara Land Improvement Corporation and what are their salaries?
The average compensation at Buffalo Erie Niagara Land Improvement Corporation during 2022 was $60,695. There are 5 employees and 11 volunteers at Buffalo Erie Niagara Land Improvement Corporation.
Here are 16 key members and their salaries:
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- Compensation: $104,708
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- Other: $24,094
Official website here: www.benlic.org
Where can I find the form 990 for Buffalo Erie Niagara Land Improvement Corporation?
Buffalo Erie Niagara Land Improvement Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.benlic.org
Learn more at the official website: www.benlic.org
Mission Statement of Buffalo Erie Niagara Land Improvement Corporation
Buffalo Erie Niagara Land Improvement Corporation, often abbreviated as BENLIC, is dedicated to addressing the challenges posed by distressed, vacant, abandoned, and tax-delinquent properties in communities. The organization's mission is to support municipal and regional revitalization efforts by strategically acquiring, improving, assembling, and selling such properties. By confronting and alleviating the issues these properties create, BENLIC aims to contribute to the betterment of communities.
BENLIC employs various programs to achieve its mission. For instance, municipal transfers are utilized for demolitions and community-funded rehabilitations. The corporation also facilitates property transfers to partners for rehabilitation, including not-for-profit organizations and programs promoting minority-owned contractors. BENLIC's Vacant to Value program sells properties to qualified buyers capable of making necessary repairs and renovations. Other properties undergo significant repairs and renovations before being sold to the public or income-qualified buyers. This multi-programmatic approach allows BENLIC to apply the best method to each property based on the housing market and the needs of each community. In 2022, BENLIC acquired 6 and disposed of 19 properties, demonstrating its active involvement in community revitalization efforts.
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Impact
July, 2024
Buffalo Erie Niagara Land Improvement Corporation's impact on the community is significant. By acquiring, improving, assembling, and selling distressed, vacant, abandoned, and tax-delinquent properties, BENLIC plays a crucial role in supporting municipal and regional revitalization efforts. The organization employs various programs to transfer and sell properties, including demolitions, community-funded rehabilitations, and partnerships with not-for-profit organizations and minority-owned contractors.
Through its Vacant to Value program, BENLIC enables qualified buyers to purchase properties capable of making necessary repairs and renovations. Additionally, the organization undertakes significant repairs and renovations on other properties before selling them to the public or income-qualified buyers. This multi-programmatic approach allows BENLIC to tailor its strategies to each property based on the housing market and the specific needs of each community.
In 2022 alone, BENLIC acquired 6 properties and disposed of 19, demonstrating its dedication to improving neighborhoods and fostering community development. The Buffalo Erie Niagara Land Improvement Corporation's efforts contribute to community improvement and help alleviate the challenges posed by distressed properties in Buffalo, NY, and the surrounding areas.
This information is meant to be a general summary of Buffalo Erie Niagara Land Improvement 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.
- Program Service Revenue: $1,441,755
- Gross Receipts: $1,643,388
Assets and Liabilities:
- Total Assets: $4,358,495
- Total Liabilities: $538,674
- Net Assets: $3,819,821
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROPERTY SALES
Revenue
$1,441,755
Organization Details
Founding Year
2012
Phone
(716) 243-3996Principal Officer
Jocelyn Gordon
Main Address
403 MAIN STREET 602, BUFFALO, NY, 14203
Website
www.benlic.orgNTEE Category
Code: S31 - Community improvement
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