Say Yes Buffalo Scholarship Inc
- Assets
- $26.9m
- Revenue
- $14.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Buffalo, NY
- Founding
- 08/2015
- Data as of
- 06/2021
- EIN
- 46-2867677
Organization Overview
Say Yes Buffalo Scholarship Inc is located in Buffalo, NY. The organization was established in 2015. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Say Yes Buffalo Scholarship 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 06/2021, Say Yes Buffalo Scholarship Inc generated $14.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 22.2% each year . All expenses for the organization totaled $13.5m during the year ending 06/2021. While expenses have increased by 18.6% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE SAY YES BUFFALO PARTNERSHIP IS TO REMOVE BARRIERS TO EDUCATIONAL ATTAINMENT, WORKFORCE PARTICIPATION AND ECONOMIC MOBILITY FOR STUDENTS IN PUBLIC AND CHARTER SCHOOLS IN BUFFALO, NY. OUR COLLECTIVE IMPACT PARTNERSHIP, CENTERED ON RACIAL EQUITY AND INCLUSION, PROVIDES A POSTSECONDARY TUITION PROMISE AND CRADLE TO CAREER COMPREHENSIVE SUPPORTS TO INCREASE THE RATES OF HIGH SCHOOL AND POSTSECONDARY COMPLETION AND THE ACHIEVEMENT OF FULFILLING PROFESSIONAL EMPLOYMENT. OUR VISION IS A MORE EQUITABLE AND THRIVING WESTERN NEW YORK ECONOMY IN WHICH ALL STUDENTS WILL HAVE THE OPPORTUNITY TO REACH THEIR FULL POTENTIAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SYBS RAISES FUNDS TO SUPPORT COLLEGE TUITION AND RELATED EDUCATIONAL EXPENDITURES THROUGH THE PROVISION OF SCHOLARSHIPS AND OPPORTUNITY GRANTS. FUNDS RAISED ARE TRANSFERRED TO A SCHOLARSHIP FUND AT A COMMUNITY FOUNDATION FOR ADMINISTRATION OF THE SCHOLARSHIP PROGRAMS. THE SCHOLARSHIP FUND PROVIDES SCHOLARSHIPS FOR ALL GRADUATES OF BUFFALO PUBLIC AND CHARTER SCHOOLS TO PURSUE A POST-SECONDARY EDUCATION. THIS SCHOLARSHIP PROGRAM SERVES TO ARTICULATE THE POSSIBILITY AND EXPECTATION OF POST-SECONDARY COMPLETION FOR ALL STUDENTS AND GIVES HOPE TO STUDENTS AND FAMILIES WHO MAY NOT OTHERWISE HAVE THOUGHT THAT COLLEGE IS AN OPTION. THE GRADUATION RATE FOR BUFFALO PUBLIC SCHOOL STUDENTS INCREASED TO 76% DURING THE 2020/2021 FISCAL YEAR. SAY YES BUFFALO SCHOLARSHIP, INC. HAS INITIATED A $100 MILLION ENDOWMENT FUND CAMPAIGN TO CONTINUE TO SUPPORT THE SCHOLARSHIP PROGRAM INTO THE FUTURE.
SAY YES BUFFALO SCHOLARSHIP, INC. HAS ENTERED INTO CONTRACTS AND GRANTS TO PROVIDE SCHOOL BASED WRAP AROUND SUPPORT SERVICES IN THE BUFFALO PUBLIC SCHOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Rust Chief Executive Officer | Officer | 40 | $0 |
Danis J Gehl Vice Chair | Officer | 2 | $0 |
Hugh M Russ III Secretary | Officer | 4 | $0 |
Stephen Swift Treasurer | Officer | 4 | $0 |
Laura Deluca Chief Financial Officer | Officer | 40 | $0 |
William L Joyce Chair | Officer | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Community Cares Program Buffalo Llc Programming Operations | 6/29/21 | $876,660 |
My Precious Angels Childcare Inc Programming Operations | 6/29/21 | $282,360 |
Child & Family Services Back Office Support | 6/29/21 | $347,885 |
Peace Of Mind Quality Daycare Inc Programming Operations | 6/29/21 | $241,395 |
Grow With Us Daycare Center Inc Programming Operations | 6/29/21 | $173,235 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,610,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,404,941 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,014,941 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $14,014,941 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,550,830 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| 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 | $0 |
| Fees for services: Other | $11,911,477 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $41,956 |
| Total functional expenses | $13,504,263 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,086,575 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $4,413,770 |
| Accounts receivable, net | $0 |
| 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 | $274,296 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,104,825 |
| Total assets | $26,879,466 |
| Accounts payable and accrued expenses | $1,482,169 |
| Grants payable | $0 |
| Deferred revenue | $14,145,870 |
| 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 | $15,628,039 |
| Net assets without donor restrictions | $2,863,955 |
| Net assets with donor restrictions | $8,387,472 |
| 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 | $26,879,466 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Say Yes Buffalo Scholarship Inc has recieved totaling $1,278,509.
| Awarding Organization | Amount |
|---|---|
Community Foundation For Greater Buffalo Inc Buffalo, NY PURPOSE: UNRESTRICTED USE; YARD SIGN PROJECT; ADMINISTRATIVE EXPENSES; SUMMER CAMP INITIATIVE | $299,608 |
Cullen Foundation Buffalo, NY PURPOSE: SAY YES BUFFALO SUMMER CAMP INITIATIVE | $250,000 |
John R Oishei Foundation Buffalo, NY PURPOSE: SAY YES BUFFALO BOYS AND MEN OF COLOR INITIATIVE | $200,000 |
Weiss Family Foundation Hartford, CT PURPOSE: TO SUPPORT PROGRAMS THAT PROMOTE POST-SECONDARY EDUCATION FOR AT-RISK CHILDREN. | $178,662 |
John R Oishei Foundation Buffalo, NY PURPOSE: SAY YES BUFFALO BOYS AND MEN OF COLOR INITIATIVE | $100,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $99,670 |
Endowment Analysis
| Beg. Balance | $14,388,310 |
| Earnings | $4,987,680 |
| Net Contributions | $728,835 |
| Ending Balance | $20,104,825 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fund For Public Schools Inc New York, NY | $69,123,846 | $27,701,638 |
National Collegiate Inventors & Innovators Alliance Hadley, MA | $19,763,432 | $45,805,073 |
Ernst & Young Foundation New York, NY | $39,971,970 | $27,635,064 |
Kipp New York Inc New York, NY | $134,718,837 | $36,118,873 |
Nellie Mae Education Foundation Inc Quincy, MA | $585,493,964 | $94,584,276 |
Say Yes Buffalo Scholarship Inc Buffalo, NY | $26,879,466 | $14,014,941 |
The Heckscher Foundation For Children New York, NY | $236,760,119 | $11,760,357 |
United Federation Of Teachers Educational Foundation Inc New York, NY | $18,651,586 | $11,866,585 |
Vista Foundation Hershey, PA | $12,658,681 | $12,905,128 |
Caroline & Joseph S Gruss Life Monument Funds Inc New York, NY | $48,124,527 | $2,679,769 |
Storehouse For Teachers Pittsburgh, PA | $4,365,823 | $11,202,988 |
Five Colleges Incorporated Amherst, MA | $34,378,872 | $10,361,692 |