Buffalo Urban Development Corporation

Organization Overview

Buffalo Urban Development Corporation is located in Buffalo, NY. The organization was established in 2014. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Buffalo Urban Development Corporation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Buffalo Urban Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2020, Buffalo Urban Development Corporation generated $9.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $8.0m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

SUPPORT THE URBAN ECONOMIC DEVELOPMENT EFFORTS OF THE REGION THROUGH THE ACQUISITION, REMEDIATION AND MANAGEMENT OF DISTRESSED PROPERTIES

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE MISSION OF BUFFALO URBAN DEVELOPMENT (BUDC) IS TO SUPPORT THE URBAN ECONOMIC DEVELOPMENT EFFORTS OF THE REGION THROUGH THE ACQUISITION, REMEDIATION AND MANAGEMENT OF DISTRESSED PROPERTIES, AND TO ENGAGE IN RELATED REAL ESTATE DEVELOPMENT ACTIVITIES FOR THE PURPOSE OF ATTRACTING AND/OR RETAINING NEW AND EXISTING BUSINESSES TO THE CITY AS PART OF THE REGION. THE MISSION OF BUDC ALSO INCLUDES SUPPORTING THE REVITALIZATION OF DOWNTOWN BUFFALO BY SERVING AS THE LEAD MANAGEMENT ENTITY FOR BUFFALO BUILDING REUSE PROJECT (BBRP) INITIATIVES, WORKING IN COLLABORATION WITH THE CITY OF BUFFALO, INCLUDING THE COORDINATION OF FINANCIAL ASSISTANCE FOR DOWNTOWN ADAPTIVE RE-USE PROJECTS AND PUBLIC RIGHT-OF-WAY IMPROVEMENTS.


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Board, Officers & Key Employees

Name (title)Compensation
Brandye Merriweather
President
$112,813
Rebecca Gandour
Executive Vice President
$107,619
Peter Cammarata
President - Thru 3/21
$63,293
Hon Byron Brown
Chairman
$0
Kevin Zanner
Secretary
$0
Mollie Profic
Treasurer
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Apollo Dismantlingservices Llc
Asbestos Abatement & Demolition
$198,757
Hurwitz & Fine Pc
Attorney Services
$166,647
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $3,924,033
All other contributions, gifts, grants, and similar amounts not included above$4,892,342
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$8,816,375
Total Program Service Revenue$324,500
Investment income $472,487
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $140,611
Net Gain/Loss on Asset Sales $7,377
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $9,769,050

Grants Recieved

Over the last fiscal year, we have identified 3 grants that Buffalo Urban Development Corporation has recieved totaling $1,310,000.

Awarding OrganizationAmount
Mlb-Mlbpa Youth Development Foundation

New York, NY

PURPOSE: GENERAL OPERATING SUPPORT

$960,000
Community Foundation For Southeast Michigan

Detroit, MI

PURPOSE: RALPH C. WILSON, JR. CENTENNIAL PARK IN BUFFALO

$300,000
Community Foundation For Greater Buffalo Inc

Buffalo, NY

PURPOSE: CAPACITY BUILDING FOR RALPH C. WILSON JR. CENTENNIAL PARK MANAGEMENT

$50,000
View Grant Recipient Profile

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