43north Foundation Inc
- Assets
- $47.2m
- Revenue
- $830.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Buffalo, NY
- Founding
- Data as of
- 12/2022
- EIN
- 86-1647131
Organization Overview
43north Foundation Inc is located in Buffalo, NY. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 43north Foundation 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, 43north Foundation Inc generated $830.9k in total revenue. All expenses for the organization totaled $155.9k during the year ending 12/2022.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE BUFFALO/NIAGARA REGION WITH OPPORTUNITIES BY INVESTING IN ORGANIZATIONS, IDEAS, AND INNOVATION AND IN MAKING BUFFALO THE BEST IT CAN BE. TO PROVIDE FINANCIAL AND ENTREPRENEURIAL SUPPORT TO MAKE BUFFALO A BEACON OF TECHNOLOGICAL INNOVATION AND ECONOMIC GROWTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAKE BUFFALO THE BEACON OF TECHNOLOGICAL INNOCATION AND ECONOMIC GROWTH.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Maggio Chairman | OfficerTrustee | 5 | $0 |
Adam Petrie Treasurer | OfficerTrustee | 5 | $0 |
Eric Reich Board Member | Trustee | 5 | $0 |
Ron Schreiber Board Member | Trustee | 5 | $0 |
Jordan Levy Board Member | Trustee | 5 | $0 |
Allen Pete Grum Board Member | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $830,910 |
| 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 | $830,910 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,500 |
| 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 | $40,828 |
| 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 | $102,621 |
| 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 | $0 |
| Total functional expenses | $155,949 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $859,260 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $46,386,562 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $47,245,822 |
| Accounts payable and accrued expenses | $18,000 |
| 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 | $18,000 |
| Net assets without donor restrictions | $47,227,822 |
| 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 | $47,245,822 |
Grants Awarded
Over the last fiscal year, 43north Foundation Inc has awarded $12,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BUFFALO PREP PURPOSE: HELP PROVIDE ACCESS AND PREPARATION FOR TALENTED UNDERREPRESENTED YOUTH TO ACHIEVE SUCCESS IN COLLEGE PREPARATORY HIGH SCHOOLS AND HIGHER EDUCATION. | $2,500 |
IMPELLENT VENTURES LLC PURPOSE: HELP FOCUS ON INVESTMENTS IN EARLY STAGE AND START-UP COMPANIES. | $10,000 |