Buffalo Neighborhood Stabilization Company Inc
- Assets
- $3.8m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 18
- Location
- Buffalo, NY
- Founding
- 01/2010
- Data as of
- 12/2022
- EIN
- 27-0580274
Organization Overview
Buffalo Neighborhood Stabilization Company Inc is located in Buffalo, NY. The organization was established in 2010. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Buffalo Neighborhood Stabilization Company Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Buffalo Neighborhood Stabilization Company Inc 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 12/2022, Buffalo Neighborhood Stabilization Company Inc generated $2.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $889.5k during the year ending 12/2022. 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
TO DRIVE THE DEVELOPMENT THAT IS TRANSFORMING OLDER HOUSES AND APARTMENTS INTO GREEN, PERMANENTLY AFFORDABLE RENTAL HOUSING FOR BUFFALO'S WEST SIDE RESIDENTS. TO INCREASE ACCESS TO QUALITY AFFORDABLE HOUSING BY SUBSTANTIALLY INCREASING THE NUMBER OF UNITS BEING RENOVATED AND CONSTRUCTED EVERY YEAR, ENHANCE NEIGHBORHOOD FABRIC BY COORDINATING INVESTMENTS IN INFRASTRUCTURE AND REHABILITATE VACANT LOTS, PREVENT GENTRIFICATION AND DISPLACEMENT OF RESIDENTS BY ENSURING AFFORDABILITY OF BOTH RENTAL AND HOMEOWNER HOUSING UNITS, AND TO ACT AS A LAND BANK TO ACQUIRE VACANT HOUSING AND LOTS AND STABILIZE THEM IN PREPARATION FOR DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUSH GREEN AND PUSH BLUEBNSC LAUNCHED PUSH GREEN,A PROGRAM WITH THE GOAL OF WEATHERIZING HOMES ACROSS THE REGION. BNSC'S CENTRAL ACHIEVEMENT IN SCALING UP NEW ENERGY EFFICIENCY RETROFITS IS GREEN JOBS - GREEN NY (GJGNY), AN INNOVATIVE LAW DRAFTED IN PARTNERSHIP WITH THE CENTER FOR WORKING FAMILIES IN NYC. BNSC HAS MADE SIGNIFICANT PROGRESS IN IMPLEMENTING GJGNY TO SCALE-UP THE RETROFIT SECTOR AND TO EXPAND ACCESS TO GREEN JOBS FOR LOW-INCOME WORKERS AND HAS UNDERTAKEN A MAJOR INITIATIVE TO PROMOTE GREEN INFRASTRUCTURE, STORMWATER MANAGEMENT, AND GREEN JOBS. PUSH BLUE IS AN INTENSIVE EFFORT TO COMBAT BUFFALO'S COMBINED SEWER OVERFLOW (CSO) PROBLEM. PUSH HAS COMPLETED 34 GREEN INFRASTRUCTURE PROJECTS TO DATE INCLUDING RAIN GARDENS, A GREEN ROOF, BIOSWALES, AND RAINWATER CATCHMENT SYSTEMS.
COMMUNITY DEVELOPMENTBNSC CONDUCTS COMMUNITY DEVELOPMENT ACTIVITIES WHICH INCLUDE LAND BANKING, PROPERTY STABILIZATION, GREEN INFRASTRUCTURE, LANDSCAPE MANAGEMENT AND COMMUNITY PLANNING. FOR FUTURE DEVELOPMENT PROJECTS, BNSC ACQUIRES AND HOLDS PROPERTIES. BNSC ALSO ACQUIRES AND HOLDS VACANT LOTS FOR NEIGHBORHOOD STABILIZATION PURPOSES. MANY OF THESE VACANT LOTS SERVE AS DEMONSTRATION PROJECTS SUCH AS COMMUNITY GARDENS (BNSC MANAGES 70 COMMUNITY PLOTS IN FOUR GARDENS) AND RAIN GARDENS TO ADDRESS STORMWATER MANAGEMENT. BNSC'S LANDSCAPE MANAGEMENT DEPARTMENT INCLUDES A WORK YARD FOR EQUIPMENT, TOOLS AND SUPPLIES STORAGE, GREENHOUSE AND NURSERY GARDEN.
HOUSING DEVELOPMENTBNSC HAS DEVELOPED AN INNOVATIVE PROGRAM WITH DOCUMENTED EFFECTIVENESS TO ACQUIRE AND REHABILITATE RESIDENTIAL HOUSING AND VACANT LAND IN BUFFALO'S WEST SIDE. THE PROGRAM HAS ACCOMPLISHED RENOVATIONS OF MULTIPLE UNITS. BNSC ALSO INTEGRATES "GREEN" DEVELOPMENT INTO EACH OF ITS DEVELOPMENT PROJECTS INCLUDING A "NET ZERO" HOUSE ON WINTER STREET, INSTALLATION OF GREEN INFRASTRUCTURE SUCH AS ON-DEMAND WATER HEATERS, RADIANT FLOOR HEATING, SOLAR PANELS AND GEOTHERMAL HEATING SYSTEMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Jahnke President | OfficerTrustee | 1 | $0 |
Ramone Alexander Secretary | OfficerTrustee | 1 | $0 |
Jim Anderson Treasurer | OfficerTrustee | 1 | $0 |
Rahwa Ghirmatzion Vice President | Officer | 1 | $0 |
Dawn Wells-Clyburn Vice President | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Housing Visions Construction | 12/30/16 | $341,811 |
Savarino Companies Llc Construction | 12/30/16 | $248,837 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,248,870 |
| Government grants | $52,778 |
| All other contributions, gifts, grants, and similar amounts not included above | $273,179 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,574,827 |
| Total Program Service Revenue | $556,312 |
| Investment income | $17 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,195,855 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $349,866 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $49,063 |
| Payroll taxes | $32,749 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,277 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $100,707 |
| Advertising and promotion | $0 |
| Office expenses | $6,677 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $88,623 |
| Travel | $13,070 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,737 |
| Interest | $4,413 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $62,509 |
| Insurance | $31,871 |
| All other expenses | $31,820 |
| Total functional expenses | $889,462 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $173,327 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $270,000 |
| Accounts receivable, net | $143,594 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $245,154 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $8,698 |
| Net Land, buildings, and equipment | $377,517 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $652,486 |
| Intangible assets | $0 |
| Other assets | $1,900,281 |
| Total assets | $3,771,057 |
| Accounts payable and accrued expenses | $21,985 |
| Grants payable | $0 |
| Deferred revenue | $362,342 |
| 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 | $660,850 |
| Total liabilities | $1,045,177 |
| Net assets without donor restrictions | $2,725,880 |
| 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 | $3,771,057 |
Grants Awarded
Over the last fiscal year, Buffalo Neighborhood Stabilization Company Inc has awarded $328,016 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
WADKIN LLC PURPOSE: BMSI - BEAUTIFICATION GRANT - RENOVATION OF GRANT STREET BUILDING | $131,942 |
JANE JAPADJIEF PURPOSE: BMSI - BEAUTIFICATION GRANT - RENOVATION OF FERRY BUILDING | $32,066 |
WADKIN LLC PURPOSE: BMSI - BEAUTIFICATION GRANT - RENOVATION OF GRANT STREET BUILDING | $131,942 |
JANE JAPADJIEF PURPOSE: BMSI - BEAUTIFICATION GRANT - RENOVATION OF FERRY BUILDING | $32,066 |