43NORTH BPC INC

EIN: 472878159 501(c)(3) Community Improvement

BUFFALO, NY

Total Revenue
$8,839,623
Total Expenses
$8,993,147
Total Assets
$12,481,837
Net Assets
$9,121,373
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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
2015
Legal Domicile
NY
Principal Officer
COLLEEN HEIDINGER
Phone
7162071566
Tax Period
2023-01-01 to 2023-12-31

43NORTH BPC INC, founded in 2015, is a community nonprofit in the Community Improvement sector that reported $8.8M in total revenue in fiscal year 2023. Revenue grew 8% year-over-year, indicating healthy expansion.

Mission

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.

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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 $8,716,779
Program Service Revenue $0
Investment Income $0
Other Revenue $122,844
TOTAL REVENUE $8,839,623

Expense Breakdown

Grants Paid $4,433,333
Salaries & Benefits $1,633,496
Fundraising Expenses $0
Program Expenses $8,275,772
Other Expenses $2,926,318
TOTAL EXPENSES $8,993,147

Year-over-Year Comparison

2023 2022 Change
Revenue $8,839,623 $8,181,242 +0.1%
Expenses $8,993,147 $8,477,223 +0.1%
Net Income $-153,524 $-295,981 -0.5%
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
7
Independent Members
7
Employees
22
Volunteers
500

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
6
$651,191
Total Directors
9
$417,556
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
COLLEEN HEIDINGER PRESIDENT 40.00
Officer Director
$215,000 $17,083 $232,083
MAURA DEVLIN VICE PRESIDENT 40.00
Officer Director
$161,250 $24,223 $185,473
MIKE WISLER CHAIR 2.00
Officer Director
$0 $0 $0
ERIC REICH IMMEDIATE PAST CHAIR 2.00
Director
$0 $0 $0
NORMA NOWAK TREASURER 2.00
Officer Director
$0 $0 $0
CLETIS EARLE DIRECTOR 2.00
Director
$0 $0 $0
PETE GRUM DIRECTOR 2.00
Director
$0 $0 $0
JORDY LEVY DIRECTOR 2.00
Director
$0 $0 $0
BILL MAGGIO DIRECTOR 2.00
Director
$0 $0 $0
DOMINIC COSTANZO VP OF PORTFOLIO 40.00
Officer
$105,000 $17,241 $122,241
CHRISTIAN KARRER MANAGER 40.00
Officer
$109,594 $1,800 $111,394
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 $8,839,623 $8,993,147 $12,481,837 $-153,524
2022 $8,181,242 $8,477,223 $13,369,607 $-295,981
2021 $3,001,464 $48,748,593 $13,425,800 $-45,747,129
2021 $3,001,464 $48,748,593 $12,179,571 $-45,747,129
2020 $32,336,563 $27,487,626 $7,134,565 $4,848,937
2020 $32,381,100 $27,487,626 $53,537,192 $4,893,474
2019 $9,970,647 $8,262,103 $2,468,830 $1,708,544
2018 $8,636,346 $8,552,652 $2,714,463 $83,694
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