BUFFALO MERCY HOUSING DEVELOPMENT FUND CO INC

EIN: 222810656 501(c)(3) Housing & Shelter

BUFFALO, NY

Total Revenue
$339,655
Total Expenses
$327,451
Total Assets
$1,976,995
Net Assets
$-519,172
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1987
Legal Domicile
NY
Principal Officer
MICHAEL D RIEGEL
Phone
7168847791
Tax Period
2023-01-01 to 2023-12-31

BUFFALO MERCY HOUSING DEVELOPMENT FUND CO INC, founded in 1987, is a small nonprofit in the Housing & Shelter sector that reported $340K in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $327K left a modest 4% surplus.

Mission

BUFFALO MERCY HOUSING DEVELOPMENT FUND COMPANY, INC. WAS FORMED TO DEVELOP ON A NONPROFIT BASIS A HOUSING PROJECT FOR PERSONS OF LOW INCOME WHERE NO ADEQUATE HOUSING EXISTS.

Program Service Accomplishments

Program 1
Expenses: $314,625 Revenue: $338,398

OPERATED AN APARTMENT COMPLEX OF 32 UNITS FOR ELDERLY OR HANDICAPPED RESIDENTS UNDER SECTION 202 OF THE HOUSING ACT OF 1959 ACCOUNTABLE TO THE U.S. DEPARTMENT OF HUD.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $329,673
Investment Income $1,257
Other Revenue $8,725
TOTAL REVENUE $339,655

Expense Breakdown

Grants Paid $0
Salaries & Benefits $49,128
Fundraising Expenses $0
Program Expenses $314,625
Other Expenses $278,323
TOTAL EXPENSES $327,451

Year-over-Year Comparison

2023 2022 Change
Revenue $339,655 $292,212 +0.2%
Expenses $327,451 $328,727 0.0%
Net Income $12,204 $-36,515 -1.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
4
Independent Members
N/A
Employees
N/A
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$684,885
Total Directors
4
$667,050
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL D RIEGEL BOARD MEMBER/BOARD PRESIDENT 0.50
Officer Director
$0 $25,080 $221,101
PAMELA BERGER BOARD MEMBER/BOARD VP/TREASURER 0.50
Officer Director
$0 $13,283 $148,806
BRAD PACKARD BOARD MEMBER/BOARD VP/SECRETARY 0.50
Officer Director
$0 $7,620 $159,441
JOYELLE TEDESCHI BOARD MEMBER 0.50
Director
$0 $16,520 $137,702
AARON HEJMOWSKI CFO 1.00
Officer
$0 $7,470 $155,537
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $339,655 $327,451 $1,976,995 $12,204
2022 $292,212 $328,727 $2,067,957 $-36,515
2021 $315,141 $343,239 $2,172,245 $-28,098
2020 $361,568 $268,698 $459,927 $92,870
2019 $338,909 $284,995 $435,610 $53,914
2018 $329,794 $281,213 $430,118 $48,581
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