Rental Assistance Corporation Of Buffalo
- Assets
- $7.0m
- Revenue
- $4.0m
- Investments
- $0.0
- Employees
- 40
- Location
- Buffalo, NY
- Founding
- 10/1993
- Data as of
- 06/2022
- EIN
- 16-1337423
Organization Overview
Rental Assistance Corporation Of Buffalo is located in Buffalo, NY. The organization was established in 1993. According to its NTEE Classification (L82) the organization is classified as: Housing Expense Reduction Support, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Rental Assistance Corporation Of Buffalo employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rental Assistance Corporation Of Buffalo 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 06/2022, Rental Assistance Corporation Of Buffalo generated $4.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (24.0%) each year. All expenses for the organization totaled $3.3m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (26.0%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
RACB ADMINISTERS THE HOUSING VOUCHER AND MODERATE REHABILITATION PROGRAMS. THROUGH THESE SECTION 8 PROGRAMS, RACB SEEKS TO PROVIDE RENTAL ASSISTANCE ON BEHALF OF LOW-INCOME FAMILIES AND ELDERLY, OR HANDICAPPED, OR DISABLED INDIVIDUALS WHO COULD NOT OTHERWISE AFFORD DECENT, SAFE AND SANITARY HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ADMINISTER THE ANNUAL CONTRIBUTIONS CONTRACT NY-409 SECTION 8 HOUSING ASSISTANCE PAYMENTS PROGRAMS FOR THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) UNDER CONTRACT WITH THE CITY OF BUFFALO, NEW YORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Mcmahon Executive Director | Officer | 35 | $117,306 |
Diane Pozorski Controller | Officer | 35 | $91,785 |
Stephen Karnath President | OfficerTrustee | 5 | $0 |
Catherine Braniecki Vice President | OfficerTrustee | 5 | $0 |
Dr Robert Davis Treasurer | OfficerTrustee | 5 | $0 |
Fred Heinle Secretary | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,893,342 |
| All other contributions, gifts, grants, and similar amounts not included above | $534 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,893,876 |
| Total Program Service Revenue | $0 |
| Investment income | $57,047 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,291 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,957,549 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $290,023 |
| Compensation of current officers, directors, key employees. | $290,023 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,281,667 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $852,107 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $22,583 |
| Fees for services: Other | $431,424 |
| Advertising and promotion | $0 |
| Office expenses | $71,923 |
| Information technology | $72,662 |
| Royalties | $0 |
| Occupancy | $36,641 |
| Travel | $23,652 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $80,780 |
| Insurance | $53,194 |
| All other expenses | $0 |
| Total functional expenses | $3,302,723 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,015,361 |
| Savings and temporary cash investments | $893,471 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25,755 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $89,491 |
| Net Land, buildings, and equipment | $2,543,859 |
| Investments—publicly traded securities | $2,453,440 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,021,377 |
| Accounts payable and accrued expenses | $729,188 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $729,188 |
| Net assets without donor restrictions | $6,292,189 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,021,377 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Rental Assistance Corporation Of Buffalo has recieved totaling $524.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $24 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Energy Coordinating Agency Of Philadelphia Inc Philadelhia, PA | $4,156,870 | $17,660,591 |
Green Energy Consumers Alliance Inc Jamaica Plain, MA | $5,258,503 | $8,625,489 |
Capital For Change Inc Wallingford, CT | $69,646,827 | $10,335,539 |
Operation Fuel Inc Hartford, CT | $2,801,976 | $6,597,042 |
Bclf Ventures Inc Boston, MA | $107,589,450 | $9,107,552 |
Webster Apartments Congers, NY | $14,551,827 | $6,588,397 |
Utility Emergency Services Fund Philadelphia, PA | $5,623,500 | $5,804,088 |
Rental Assistance Corporation Of Buffalo Buffalo, NY | $7,021,377 | $3,957,549 |
Westside Ministries Inc Buffalo, NY | $1,861,315 | $3,049,976 |
Niagara Falls Neighborhood Housing Services Inc Niagara Falls, NY | $3,221,959 | $1,818,977 |
Neighborhood Housing Service Of New Britain Inc New Britain, CT | $9,799,451 | $3,488,244 |
Northfield Community Ldc Of Staten Island Inc Staten Island, NY | $972,612 | $2,043,555 |