43north Bpc Inc
- Assets
- $13.4m
- Revenue
- $3.0m
- Investments
- $11.0m
- Employees
- 16
- Location
- Buffalo, NY
- Founding
- 04/2015
- Data as of
- 12/2021
- EIN
- 47-2878159
Organization Overview
43north Bpc Inc is located in Buffalo, NY. The organization was established in 2015. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, 43north Bpc Inc employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 43north Bpc 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 12/2021, 43north Bpc Inc generated $3.0m 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 (6.7%) each year. All expenses for the organization totaled $48.7m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, 43north Bpc Inc has awarded 1,545 individual grants totaling $139,034,822. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CONDUCT A GLOBAL BUSINESS PLAN COPMETITION PROMOTING THE BUFFALO/NIAGARA REGION AND WESTERN NEW YORK AS AN EMERGING ENTREPRENEURIAL CENTER OF ACTIVITY FOR START UP COMPANIES. TO ATTRACT NEW BUSINESSES AND NEW BUSINESS IDEAS TO WESTERN NEW YORK, AND TO PROVIDE FINANCIAL AND ENTREPRENEURIAL SUPPORT TO CONTEST WINNERS AND OTHER STARTUPS LOCATING THEIR COMPANIES IN WESTERN NEW YORK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GLOBAL BUSINESS PLAN COMPETITION
GLOBAL BUSINESS PLAN COMPETITION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Colleen Heidinger President | OfficerTrustee | 40 | $152,500 |
Maura Devlin Vice President | OfficerTrustee | 40 | $122,100 |
Eric Riech Chair | OfficerTrustee | 2 | $0 |
Norma Nowak Treasurer | OfficerTrustee | 2 | $0 |
Lauren Rivett Vice President | OfficerTrustee | 40 | $0 |
Bill Maggio Immediate Past Chair | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jemal's Seneca One Llc Co Ciminelli Rea Real Estate | 12/30/21 | $456,600 |
15 Fingers Llc Marketing And Advertising | 12/30/21 | $156,505 |
Jemal's Seneca One Llc Co Ciminelli Rea Real Estate | 12/30/21 | $456,600 |
15 Fingers Llc Marketing And Advertising | 12/30/21 | $156,505 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,310,115 |
| All other contributions, gifts, grants, and similar amounts not included above | $563,422 |
| Noncash contributions included in lines 1a–1f | $13,422 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,873,537 |
| Total Program Service Revenue | $0 |
| Investment income | $87 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $127,840 |
| 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 | $3,001,464 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $45,138,661 |
| 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. | $274,600 |
| Compensation of current officers, directors, key employees. | $54,920 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $504,797 |
| Pension plan accruals and contributions | $14,567 |
| Other employee benefits | $88,372 |
| Payroll taxes | $76,669 |
| Fees for services: Management | $53,869 |
| Fees for services: Legal | $30,364 |
| Fees for services: Accounting | $33,195 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,338,224 |
| Office expenses | $34,726 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $514,871 |
| Travel | $151,594 |
| 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 | $439,155 |
| Insurance | $7,162 |
| All other expenses | $759 |
| Total functional expenses | $48,748,593 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $957,859 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $130,053 |
| 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 | $9,186 |
| Net Land, buildings, and equipment | $1,343,605 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $10,985,097 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,425,800 |
| Accounts payable and accrued expenses | $189,514 |
| Grants payable | $0 |
| Deferred revenue | $527,054 |
| 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 | $716,568 |
| Net assets without donor restrictions | $12,709,232 |
| 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 | $13,425,800 |
Grants Awarded
Over the last fiscal year, 43north Bpc Inc has awarded $90,277,322 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
Buffalo, NY PURPOSE: GROWTH AND WORKING CAPITAL | $44,138,661 |
Buffalo, NY PURPOSE: GROWTH AND WORKING CAPITAL | $44,138,661 |
KANGAROOTIME INC PURPOSE: GROWTH AND WORKING CAPITAL | $300,000 |
AIRZAAR INC PURPOSE: GROWTH AND WORKING CAPITAL | $300,000 |
AIRZAAR INC PURPOSE: GROWTH AND WORKING CAPITAL | $300,000 |
KANGAROOTIME INC PURPOSE: GROWTH AND WORKING CAPITAL | $300,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that 43north Bpc Inc has recieved totaling $525,000.
| Awarding Organization | Amount |
|---|---|
The Ralph C Wilson Jr Foundation Detroit, MI PURPOSE: TO SUPPORT HIGH-GROWTH ENTREPRENEURSHIP AND INCREASE ACCESS TO VENTURE CAPITAL IN WNY. | $525,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
43north Bpc Inc Buffalo, NY | $13,425,800 | $3,001,464 |
Grameen America Inc Jackson Heights, NY | $237,127,552 | $50,248,348 |
Harristown Development Corporation Harrisburg, PA | $29,766,695 | $19,028,512 |
Homestart Inc Boston, MA | $5,713,584 | $14,864,192 |
The Community Action Agency Of Western Connecticut Inc Danbury, CT | $3,614,776 | $12,103,732 |
Massachusetts Manufacturing Extension Partnership Inc Auburn, MA | $5,456,400 | $10,807,956 |
Greater Jamaica Development Corp Jamaica, NY | $43,416,674 | $8,397,998 |
South Bronx Overall Economic Development Corporation Bronx, NY | $11,273,834 | $9,485,057 |
Dorchester Bay Economic Development Corporation Dorchester, MA | $50,118,730 | $16,286,134 |
National Basketball Association Foundation New York, NY | $26,984,536 | $31,000,000 |
Newark Downtown District Management Corporation Newark, NJ | $7,203,712 | $5,205,083 |
Rdc Commercial Center Inc Brooklyn, NY | $15,313,985 | $4,091,889 |