Buffalo Fine Arts Academy
Buffalo Fine Arts Academy shows strong asset growth and variable revenue, with no reported officer compensation.
EIN: 166001555 · Buffalo, NY · NTEE: A510 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $81.1M |
| Total Expenses | $27.0M |
| Program Spending | 85% |
| Net Assets | $347.3M |
| Transparency Score | 88/100 |
Is Buffalo Fine Arts Academy Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Buffalo Fine Arts Academy directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Buffalo Fine Arts Academy
Buffalo Fine Arts Academy (EIN: 166001555) is a nonprofit organization based in Buffalo, NY, classified under NTEE code A510. The organization reported total revenue of $81.1M and total assets of $360.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Buffalo Fine Arts Academy's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Buffalo Fine Arts Academy is a major nonprofit that has been operating for 86 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 5.6%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $19.6M |
| Total Expenses | $27.0M |
| Surplus / Deficit | $-7,357,293 |
| Total Assets | $365.9M |
| Total Liabilities | $18.6M |
| Net Assets | $347.3M |
| Operating Margin | -37.5% |
| Debt-to-Asset Ratio | 5.1% |
| Months of Reserves | 162.7 months |
Financial Health Grade: B
In 2024, Buffalo Fine Arts Academy reported a deficit of $7.4M with expenses exceeding revenue, holds 162.7 months of operating reserves (strong position), has a debt-to-asset ratio of 5.1% (very low leverage).
Financial Trends
Over 13 years of filings (2012–2024), Buffalo Fine Arts Academy's revenue has grown at a compound annual growth rate (CAGR) of 5.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -69.6% | +34.6% | +4.5% |
| 2023 | +109.1% | +9.1% | +19.4% |
| 2022 | -52.2% | +40.0% | -7.1% |
| 2021 | +286.2% | +3.4% | +35.4% |
| 2020 | -16.2% | -20.9% | +1.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1940 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Buffalo Fine Arts Academy with a Mission Score of 88 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Buffalo Fine Arts Academy allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $7.4M, with expenses exceeding revenue.
- Debt-to-asset ratio: 5.1%.
Executive Compensation Analysis
The consistent reporting of 0% officer compensation across all available filings is highly unusual and suggests that either executive leadership is not compensated, or their compensation is reported under a different category, which could impact the transparency of executive pay relative to the organization's size and mission.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Buffalo Fine Arts Academy's IRS 990 filings:
- Unusually consistent 0% officer compensation reported, requiring further clarification.
- Significant year-over-year revenue volatility, indicating potential reliance on large, infrequent funding sources.
Strengths
The following positive indicators were identified for Buffalo Fine Arts Academy:
- Strong and consistent asset growth, from $138M in 2016 to over $365M in 2024.
- Healthy asset-to-liability ratio, indicating strong financial solvency.
- Implied high program efficiency due to 0% reported officer compensation, though this needs further investigation.
Frequently Asked Questions about Buffalo Fine Arts Academy
Is Buffalo Fine Arts Academy a legitimate charity?
Buffalo Fine Arts Academy (EIN: 166001555) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 88/100. It has 13 years of IRS 990 filings on record. Total revenue: $81.1M. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Buffalo Fine Arts Academy spend its money?
Buffalo Fine Arts Academy directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Buffalo Fine Arts Academy tax-deductible?
Buffalo Fine Arts Academy is registered as a tax-exempt nonprofit (EIN: 166001555). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Buffalo Fine Arts Academy's spending goes to programs?
Buffalo Fine Arts Academy directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Buffalo Fine Arts Academy compare to similar nonprofits?
With a transparency score of 88/100 (Excellent), Buffalo Fine Arts Academy is above average for NTEE category A510 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Buffalo Fine Arts Academy located?
Buffalo Fine Arts Academy is headquartered in Buffalo, New York and files with the IRS under EIN 166001555. It is classified under NTEE code A510.
How many years of IRS 990 filings does Buffalo Fine Arts Academy have?
Buffalo Fine Arts Academy has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $81.1M in total revenue.
Is Buffalo Fine Arts Academy a good charity?
Based on the available data, Buffalo Fine Arts Academy appears to be a financially sound organization with significant asset growth and a strong program focus, indicated by the 0% officer compensation and implied efficient use of funds. However, the lack of detailed executive compensation information could be a point for further inquiry.
Why is officer compensation consistently reported as 0%?
The consistent reporting of 0% for officer compensation is highly unusual for an organization of this size and asset base. It could mean that officers are uncompensated, compensated through a related entity, or their compensation is categorized differently on the 990, which would require further investigation to fully understand.
What caused the significant revenue spikes in 2017, 2021, and 2023?
The large revenue spikes (e.g., $83.5M in 2017, $64.5M in 2021, $64.4M in 2023) suggest the organization may receive substantial, infrequent donations, grants, or significant investment gains. Understanding the nature of these revenue sources would provide more insight into financial stability.
Filing History
IRS 990 filing history for Buffalo Fine Arts Academy showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Buffalo Fine Arts Academy's revenue has grown by 92.8%, moving from $10.2M to $19.6M. Total assets increased by 178.7% over the same period, from $131.3M to $365.9M. Total functional expenses rose by 104.9%, from $13.2M to $27.0M. In its most recent filing year (2024), Buffalo Fine Arts Academy reported a deficit of $7.4M, with expenses exceeding revenue. The organization holds $18.6M in liabilities against $365.9M in assets (debt-to-asset ratio: 5.1%), resulting in net assets of $347.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $19.6M | $27.0M | $365.9M | $18.6M | — | View 990 |
| 2023 | $64.5M | $20.1M | $350.1M | $8.5M | — | View 990 |
| 2022 | $30.8M | $18.4M | $293.1M | $7.8M | — | View 990 |
| 2021 | $64.5M | $13.1M | $315.5M | $7.8M | — | — |
| 2020 | $16.7M | $12.7M | $233.0M | $4.9M | — | View 990 |
| 2019 | $19.9M | $16.0M | $228.9M | $6.0M | — | View 990 |
| 2018 | $21.5M | $18.6M | $222.8M | $5.1M | — | View 990 |
| 2017 | $83.6M | $15.5M | $212.9M | $4.9M | — | View 990 |
| 2016 | $10.8M | $16.3M | $138.5M | $6.5M | — | View 990 |
| 2015 | $23.5M | $13.3M | $148.4M | $4.4M | — | View 990 |
| 2014 | $16.7M | $11.5M | $151.5M | $4.2M | — | View 990 |
| 2013 | $18.5M | $11.5M | $141.4M | $5.4M | — | View 990 |
| 2012 | $10.2M | $13.2M | $131.3M | $7.5M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $19.6M, expenses of $27.0M, and assets of $365.9M (revenue -69.6% year-over-year).
- 2023: Revenue of $64.5M, expenses of $20.1M, and assets of $350.1M (revenue +109.1% year-over-year).
- 2022: Revenue of $30.8M, expenses of $18.4M, and assets of $293.1M (revenue -52.2% year-over-year).
- 2021: Revenue of $64.5M, expenses of $13.1M, and assets of $315.5M (revenue +286.2% year-over-year).
- 2020: Revenue of $16.7M, expenses of $12.7M, and assets of $233.0M (revenue -16.2% year-over-year).
- 2019: Revenue of $19.9M, expenses of $16.0M, and assets of $228.9M (revenue -7.3% year-over-year).
- 2018: Revenue of $21.5M, expenses of $18.6M, and assets of $222.8M (revenue -74.3% year-over-year).
- 2017: Revenue of $83.6M, expenses of $15.5M, and assets of $212.9M (revenue +671.0% year-over-year).
- 2016: Revenue of $10.8M, expenses of $16.3M, and assets of $138.5M (revenue -53.9% year-over-year).
- 2015: Revenue of $23.5M, expenses of $13.3M, and assets of $148.4M (revenue +40.6% year-over-year).
- 2014: Revenue of $16.7M, expenses of $11.5M, and assets of $151.5M (revenue -9.6% year-over-year).
- 2013: Revenue of $18.5M, expenses of $11.5M, and assets of $141.4M (revenue +81.8% year-over-year).
- 2012: Revenue of $10.2M, expenses of $13.2M, and assets of $131.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Buffalo Fine Arts Academy:
Data Sources and Methodology
This transparency report for Buffalo Fine Arts Academy is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.