Buffalo Urban Development Corporation
Buffalo Urban Development Corporation: Significant Revenue Growth and Asset Expansion
EIN: 222324226 · Buffalo, NY · NTEE: S99 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $38.3M |
| Total Expenses | $33.1M |
| Program Spending | 80% |
| Net Assets | $80.4M |
| Transparency Score | 75/100 |
Is Buffalo Urban Development Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Buffalo Urban Development Corporation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Buffalo Urban Development Corporation
Buffalo Urban Development Corporation (EIN: 222324226) is a nonprofit organization based in Buffalo, NY, classified under NTEE code S99. The organization reported total revenue of $38.3M and total assets of $171.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Buffalo Urban Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Buffalo Urban Development Corporation is a large nonprofit that has been operating for 12 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 27.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $32.5M |
| Total Expenses | $33.1M |
| Surplus / Deficit | $-525,371 |
| Total Assets | $185.7M |
| Total Liabilities | $105.3M |
| Net Assets | $80.4M |
| Operating Margin | -1.6% |
| Debt-to-Asset Ratio | 56.7% |
| Months of Reserves | 67.4 months |
Financial Health Grade: C
In 2023, Buffalo Urban Development Corporation reported a deficit of $525K with expenses exceeding revenue, holds 67.4 months of operating reserves (strong position), has a debt-to-asset ratio of 56.7% (high leverage).
Financial Trends
Over 14 years of filings (2010–2023), Buffalo Urban Development Corporation's revenue has grown at a compound annual growth rate (CAGR) of 27.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +285.5% | +226.1% | +37.2% |
| 2022 | +60.8% | +54.5% | +37.4% |
| 2021 | -46.3% | -18.4% | -1.7% |
| 2020 | -70.9% | +59.9% | +5.7% |
| 2019 | +24.4% | -17.0% | +19.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2014 |
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 Urban Development Corporation with a Mission Score of 75 out of 100 (Good). 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: 80%
- fundraising: 10%
According to IRS 990 filings, Buffalo Urban Development Corporation allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $525K, with expenses exceeding revenue.
- Debt-to-asset ratio: 56.7%.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided data, making a direct assessment difficult without further filings.
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 Urban Development Corporation's IRS 990 filings:
- Rapid increase in liabilities from $15.8M in 2021 to $105.2M in 2023 warrants further investigation into the nature of these obligations.
Strengths
The following positive indicators were identified for Buffalo Urban Development Corporation:
- Consistent revenue generation, with a significant jump to $32.5M in 2023.
- Substantial asset growth from $42.5M in 2016 to $185.6M in 2023, indicating successful development initiatives.
- Positive net assets maintained across all reported years.
Frequently Asked Questions about Buffalo Urban Development Corporation
Is Buffalo Urban Development Corporation a legitimate charity?
Buffalo Urban Development Corporation (EIN: 222324226) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 75/100. It has 14 years of IRS 990 filings on record. Total revenue: $38.3M. 1 red flag identified. 3 strengths noted. Financial health grade: C.
How does Buffalo Urban Development Corporation spend its money?
Buffalo Urban Development Corporation directs 80% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Buffalo Urban Development Corporation tax-deductible?
Buffalo Urban Development Corporation is registered as a tax-exempt nonprofit (EIN: 222324226). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Buffalo Urban Development Corporation's spending goes to programs?
Buffalo Urban Development Corporation directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Buffalo Urban Development Corporation compare to similar nonprofits?
With a transparency score of 75/100 (Good), Buffalo Urban Development Corporation is above average for NTEE category S99 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Buffalo Urban Development Corporation located?
Buffalo Urban Development Corporation is headquartered in Buffalo, New York and files with the IRS under EIN 222324226. It is classified under NTEE code S99.
How many years of IRS 990 filings does Buffalo Urban Development Corporation have?
Buffalo Urban Development Corporation has 14 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 $38.3M in total revenue.
What does Buffalo Urban Development Corporation do?
Buffalo Urban Development Corporation is a nonprofit organization in the Community Improvement sector, located in Buffalo, New York. It is classified under NTEE code S99.
How much revenue does Buffalo Urban Development Corporation have?
Buffalo Urban Development Corporation reported total revenue of $38,271,014. Based on 14 IRS 990 filings on record.
What are Buffalo Urban Development Corporation's total assets?
Buffalo Urban Development Corporation holds total assets of $171,915,585 as reported in IRS 990 filings.
Where is Buffalo Urban Development Corporation located?
Buffalo Urban Development Corporation is based in Buffalo, New York.
What is Buffalo Urban Development Corporation's EIN?
Buffalo Urban Development Corporation's Employer Identification Number (EIN) is 222324226. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Buffalo Urban Development Corporation?
Buffalo Urban Development Corporation is classified under NTEE code S99 (Community Improvement).
Is Buffalo Urban Development Corporation a registered 501(c)(3)?
Yes, Buffalo Urban Development Corporation is recognized as a tax-exempt organization by the IRS. EIN: 222324226.
Does Buffalo Urban Development Corporation file IRS Form 990?
Yes, Buffalo Urban Development Corporation has 14 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Buffalo Urban Development Corporation's revenue in 2023?
In the 202312 filing period, Buffalo Urban Development Corporation reported total revenue of $32,541,280, total expenses of $33,066,651, and net assets of $185,671,246.
Is Buffalo Urban Development Corporation's revenue growing or declining?
Buffalo Urban Development Corporation's revenue is growing. Revenue went from $8,441,091 (202212) to $32,541,280 (202312), a +285.5% change. Based on 14 filings on record.
What is Buffalo Urban Development Corporation's most recent 990 filing?
The most recent IRS Form 990 filing for Buffalo Urban Development Corporation covers tax period 202312. It shows revenue of $32,541,280, expenses of $33,066,651, total assets of $185,671,246, and liabilities of $105,277,038.
How much does Buffalo Urban Development Corporation spend on programs vs administration?
Based on IRS 990 analysis, Buffalo Urban Development Corporation allocates approximately 80% of expenses to program services, 10% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Buffalo Urban Development Corporation a trustworthy charity?
Based on AI analysis of IRS 990 data, Buffalo Urban Development Corporation appears trustworthy. Mission Score: 75/100 (Good). 1 red flag identified. 3 strengths noted.
What are the red flags for Buffalo Urban Development Corporation?
The following concerns were identified: Rapid increase in liabilities from $15.8M in 2021 to $105.2M in 2023 warrants further investigation into the nature of these obligations.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Buffalo Urban Development Corporation's strengths?
Positive indicators for Buffalo Urban Development Corporation include: Consistent revenue generation, with a significant jump to $32.5M in 2023.. Substantial asset growth from $42.5M in 2016 to $185.6M in 2023, indicating successful development initiatives.. Positive net assets maintained across all reported years.. These findings are derived from AI analysis of the organization's financial filings.
How does Buffalo Urban Development Corporation compensate executives?
Executive compensation is not explicitly detailed in the provided data, making a direct assessment difficult without further filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What specific projects or initiatives contributed to the dramatic increase in revenue from $8.4M in 2022 to $32.5M in 2023?
The provided data indicates a substantial revenue increase, but the specific drivers (e.g., new grants, property sales, major development project completions) are not detailed in the summary. Further examination of the full financial statements would be necessary.
Filing History
IRS 990 filing history for Buffalo Urban Development Corporation showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Buffalo Urban Development Corporation's revenue has grown by 2136.8%, moving from $1.5M to $32.5M. Total assets increased by 1169.8% over the same period, from $14.6M to $185.7M. Total functional expenses rose by 1929.3%, from $1.6M to $33.1M. In its most recent filing year (2023), Buffalo Urban Development Corporation reported a deficit of $525K, with expenses exceeding revenue. The organization holds $105.3M in liabilities against $185.7M in assets (debt-to-asset ratio: 56.7%), resulting in net assets of $80.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $32.5M | $33.1M | $185.7M | $105.3M | — | — |
| 2022 | $8.4M | $10.1M | $135.4M | $54.4M | — | View 990 |
| 2021 | $5.3M | $6.6M | $98.5M | $15.9M | — | View 990 |
| 2020 | $9.8M | $8.0M | $100.2M | $16.3M | — | View 990 |
| 2019 | $33.6M | $5.0M | $94.8M | $12.6M | — | View 990 |
| 2018 | $27.0M | $6.1M | $79.6M | $26.0M | — | View 990 |
| 2017 | $18.3M | $2.3M | $65.8M | $33.1M | — | View 990 |
| 2016 | $3.3M | $1.4M | $42.6M | $25.9M | — | View 990 |
| 2015 | $5.8M | $1.7M | $16.6M | $1.9M | — | View 990 |
| 2014 | $2.0M | $2.6M | $17.7M | $7.0M | — | View 990 |
| 2013 | $1.4M | $1.4M | $12.2M | $994K | — | View 990 |
| 2012 | $1.3M | $1.1M | $13.0M | $1.7M | — | View 990 |
| 2011 | $3.6M | $3.9M | $16.4M | $5.3M | — | View 990 |
| 2010 | $1.5M | $1.6M | $14.6M | $3.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $32.5M, expenses of $33.1M, and assets of $185.7M (revenue +285.5% year-over-year).
- 2022: Revenue of $8.4M, expenses of $10.1M, and assets of $135.4M (revenue +60.8% year-over-year).
- 2021: Revenue of $5.3M, expenses of $6.6M, and assets of $98.5M (revenue -46.3% year-over-year).
- 2020: Revenue of $9.8M, expenses of $8.0M, and assets of $100.2M (revenue -70.9% year-over-year).
- 2019: Revenue of $33.6M, expenses of $5.0M, and assets of $94.8M (revenue +24.4% year-over-year).
- 2018: Revenue of $27.0M, expenses of $6.1M, and assets of $79.6M (revenue +47.2% year-over-year).
- 2017: Revenue of $18.3M, expenses of $2.3M, and assets of $65.8M (revenue +457.0% year-over-year).
- 2016: Revenue of $3.3M, expenses of $1.4M, and assets of $42.6M (revenue -43.5% year-over-year).
- 2015: Revenue of $5.8M, expenses of $1.7M, and assets of $16.6M (revenue +190.9% year-over-year).
- 2014: Revenue of $2.0M, expenses of $2.6M, and assets of $17.7M (revenue +46.6% year-over-year).
- 2013: Revenue of $1.4M, expenses of $1.4M, and assets of $12.2M (revenue +8.7% year-over-year).
- 2012: Revenue of $1.3M, expenses of $1.1M, and assets of $13.0M (revenue -65.0% year-over-year).
- 2011: Revenue of $3.6M, expenses of $3.9M, and assets of $16.4M (revenue +147.1% year-over-year).
- 2010: Revenue of $1.5M, expenses of $1.6M, and assets of $14.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Buffalo Urban Development Corporation:
Data Sources and Methodology
This transparency report for Buffalo Urban Development Corporation 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.