BUFFALO PLACE INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1985

Legal Domicile

Principal Officer

KEITH M BELANGER

Phone

7168563150

Tax Period

2024-01-01 to 2024-12-31

BUFFALO PLACE INC, founded in 1985, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2024. Revenue surged 41% from the prior year, signaling strong growth momentum. The organization ran a surplus of $213K, a strong 17% operating margin.

Mission

DOWNTOWN REVITALIZATION OF BUFFALO, NEW YORK

Program Service Accomplishments

Program 1

Expenses: $815,065 Revenue: $646,956

MAINTENANCE AND PROMOTION OF THE SPECIAL CHARGE DISTRICT IN DOWNTOWN BUFFALO, NEW YORK, AND PARTICIPATION IN OTHER DOWNTOWN DEVELOPMENT PROJECTS.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $574,299

Program Service Revenue $646,956

Investment Income $8,882

Other Revenue $1,744

TOTAL REVENUE $1,231,881

Expense Breakdown

Grants Paid $0

Salaries & Benefits $433,225

Fundraising Expenses $0

Program Expenses $815,065

Other Expenses $585,606

TOTAL EXPENSES $1,018,831

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,231,881	$874,155	+0.4%
Expenses	$1,018,831	$820,671	+0.2%
Net Income	$213,050	$53,484	+3.0%

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

Governance

Voting Members

Independent Members

Employees

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

$167,411

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANTHONY J BAYNES	DIRECTOR	2.00	Director	$0	$0	$0
KEITH M BELANGER	CHAIRPERSON	5.00	Officer Director	$0	$0	$0
STEVEN J CARMINA	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
DANIEL CASTLE	DIRECTOR	2.00	Director	$0	$0	$0
PAUL F CIMINELLI	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
ANTHONY J COLUCCI III	PRESIDENT & VICE CHAIRMAN	5.00	Officer Director	$0	$0	$0
HON CHRISTOPHER L JACOBS	SECRETARY	2.00	Officer Director	$0	$0	$0
STAN MAKOWSKI JR	DIRECTOR	2.00	Director	$0	$0	$0
WILLIAM PALADINO	DIRECTOR	2.00	Director	$0	$0	$0
ROCCO TERMINI	DIRECTOR	2.00	Director	$0	$0	$0
BARBARA A DANNER	TREASURER	2.00	Officer Director	$0	$0	$0
HON LAWRENCE DUPRE	DIRECTOR	2.00	Director	$0	$0	$0
BRIAN GOULD	DIRECTOR	2.00	Director	$0	$0	$0
HON BRIAN M HIGGINS	DIRECTOR	2.00	Director	$0	$0	$0
SANDRA BARNES	COUNSEL (NON-VOTING)	2.00	Officer	$0	$0	$0
MICHAEL T SCHMAND	EXEC. DIR/V.P.(NON-VOTING)	40.00	Officer	$161,974	$5,437	$167,411

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
2025	No data	No data	No data	No data
2024	$1,231,881	$1,018,831	$774,405	$213,050
2023	$874,155	$820,671	$657,304	$53,484
2022	$759,178	$1,195,626	$443,053	$-436,448
2021	$714,511	$1,053,423	$767,256	$-338,912
2020	$622,845	$933,770	$597,570	$-310,925
2019	$767,454	$1,100,785	$72,951	$-333,331
2018	$722,002	$991,358	$196,407	$-269,356