BUFFALO MARITIME CENTER 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

2010

Legal Domicile

Principal Officer

DAVE RODGERS

Phone

7168810111

Tax Period

2024-01-01 to 2024-12-31

BUFFALO MARITIME CENTER INC, founded in 2010, is a small nonprofit in the Recreation & Sports sector that reported $588K in total revenue in fiscal year 2024. Revenue fell 37% from the prior year — a significant decline worth monitoring. Expenses of $545K left a modest 7% surplus.

Mission

THE BUFFALO MARITIME CENTER'S MISSION IS TO PROVIDE EVERYONE THE OPPORTUNITY TO EXPERIENCE THE HOY OF BEING ON THE WATER, TO LEARN MARITIME HISTORY, AND TO ACHIEVE HIGHER LEVELS OF CRAFTMANSHIP.

Program Service Accomplishments

Program 1

Expenses: $245,028

THE BUFFALO MARITIME CENTER (BMC) PROVIDES AN ARRAY OF UNIQUE PROGRAMS AND ACTIVITIES: BMC'S MUSEUM, EXHIBITS, AND ARCHIVES BRING TO LIFE THE COMPELLING STORY OF BUFFALO'S MARITIME HISTORY. THE BOAT SHOP PROVIDES SPACE AND EQUIPMENT FOR PERSONAL AND COMMUNITY BOATBUILDING PROJECTS, WORKSHOPS, AND HISTORICA CONSERVATION AND RESTORATION PROJECTS. BMC'S EDUCATIONAL PROGRAMMING USES WOODEN BOATBUILDING AS A TOOL FOR STUDENTS TO LEARN AND PRACTICE STEM PRINIPLES AND LIFE SKILLS. THE BMC ALSO MAINTAINS A FLEET OF ITS OWN BOATS THAT THE PUBLIC IS ABLE TO USE TO SHARE IN THE EXPERIENCE OF BEING ON THE WATER.

Program 2

THE CENTER PROVIDES CLASSES AND WORKSHOPS ON BOAT BUILDING AND OTHER RELATED 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 $502,372

Program Service Revenue $99,404

Investment Income $-22,672

Other Revenue $9,377

TOTAL REVENUE $588,481

Expense Breakdown

Grants Paid $0

Salaries & Benefits $296,245

Fundraising Expenses $123,092

Program Expenses $245,028

Other Expenses $248,431

TOTAL EXPENSES $544,676

Year-over-Year Comparison

	2024	2023	Change
Revenue	$588,481	$938,205	-0.4%
Expenses	$544,676	$505,791	+0.1%
Net Income	$43,805	$432,414	-0.9%

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

150

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DOUGLAS BEAN	TRUSTEE	2.00	Director	$0	$0	$0
PENNY J BECKWITH	TRUSTEE	2.00	Director	$0	$0	$0
NEIL FARRELL	TRUSTEE	2.00	Director	$0	$0	$0
BILL FRIEDEMAN	TRUSTEE	2.00	Director	$0	$0	$0
KAREN J GREGORY	TRUSTEE	2.00	Director	$0	$0	$0
HOWARD HAIN	TRUSTEE	2.00	Director	$0	$0	$0
GERALD KELLY	TRUSTEE	2.00	Director	$0	$0	$0
JOE KOESSLER	PRESIDENT EM	2.00	Director	$0	$0	$0
STEVE KRZESINSKI	TRUSTEE	2.00	Director	$0	$0	$0
CATHERINE CARR LINCOLN	TRUSTEE	2.00	Director	$0	$0	$0
OLIVIA MCCARTHY	TRUSTEE	2.00	Director	$0	$0	$0
DR JOHN MONTAGUE	PRESIDENT EM	2.00	Director	$0	$0	$0
CARL NAGEL	TRUSTEE	2.00	Director	$0	$0	$0
KATHERINE PESSECOW	TRUSTEE	2.00	Director	$0	$0	$0
JAMES SMYTON	TRUSTEE	2.00	Director	$0	$0	$0
JOHN TRACY	TRUSTEE	2.00	Director	$0	$0	$0
ANNE CONABLE	PRESIDENT	2.00	Officer	$0	$0	$0
JOANNE HUDECKI	VICE PRESIDE	2.00	Officer	$0	$0	$0
DR CANDALENE MCCOMBS	SECRETARY	2.00	Officer	$0	$0	$0
DAVE RODGERS	TREASURER	2.00	Officer	$0	$0	$0

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	$630,988	$544,676	$1,824,764	$86,312
2024	$588,481	$544,676	$1,824,764	$43,805
2023	$938,205	$505,791	$1,676,583	$432,414
2022	$618,105	$503,689	$1,301,527	$114,416
2021	$460,593	$336,287	$1,258,296	$124,306
2020	$525,448	$283,415	$1,070,330	$242,033
2019	$333,127	$308,069	$864,640	$25,058
2018	$626,375	$282,864	$707,240	$343,511