Westminster Foundation EIN 20-1405438

Westminster Foundation

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Improves a neighborhood's academics and living conditions through collaboration. For fiscal year 2025 it reported $716K in revenue, $1.0M in expenses, and $5.8M in net assets.Pt I

Type
Public foundation / grantmaker · Foundations & Grantmakers
Location
Buffalo, NY
Website
buffalopromiseneighborhood.org
Filings
5 on file (2021–2025)
Revenue
$716KFY2025
Expenses
$1.0M
Net assets
$5.8M
People
7
Filings
5
Updates
0
More identity details & actions ⌄
EIN  20-1405438 Public foundation / grantmaker Buffalo, NY
Form 990 (PDF)
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Size
$100K–1M
What they do
Improves a neighborhood's academics and living conditions through collaboration.
Leadership
Tracy S Woodrow · Chair
Money in and out
$716K revenue, $1.0M expenses
Bottom line
91% program efficiency
Grants paid & assets · FY2025
Total revenue
$716K
Pt VIII · Ln 12
Total expenses
$1.0M
Pt IX · Ln 25
Net assets
$5.8M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$324K
Where spending went · Part IX cols B–D
Program services $0.91 Management & general $0.08 Fundraising $0.01
Program efficiency
91%
of spending reaches programs▼ -4% vs prior filing year
Operating runway
44.9mo
months of highly liquid reserves at operating expense rate▲ +144% vs prior filing year
Surplus margin
-45%
revenue over expenses, this year▲ +94% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$716K
FY2025▲ +118%
Expenses
$1.0M
FY2025▼ -62%
Total assets
$6.0M
FY2025▼ -6%
Total liabilities
$110K
FY2025▼ -33%
Total revenue
$716K
Pt VIII · Ln 12
Total expenses
$1.0M
Pt IX · Ln 25
Net assets
$5.8M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$324K
Total assetsPt X · Ln 16$6.0M
Program-expense ratioPt IX · col B91%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 42
Mission & Programs · Part III

Where the work happens

3 program services account for $946K of program spending, described in the organization's own filed words · FY2024.
01

BPN manages the westminster community charter school within the buffalo promise neighborhood focusing on improving academic achievement and creating new opportunities for students.

$493Kprogram expense
02

BPN manages a children's academy to help prepare children for successful transition to kindergarten, elementary school, and beyond. The academy is operated by the community action organization of wny serving up to 62 children from infancy to age 5.

$357Kprogram expense
03

BPN focuses on community engagement and revitalization through community education and wellness. The two generation program offers a whole family approach by building on family strengths while supporting academic achievement, healthy child development, and overall family wellness.

$95Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CWestminster Foundation
EINHdr · item D20-1405438
Principal addressHdr · item CBuffalo, NY
WebsiteHdr · item Jbuffalopromiseneighborhood.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T21)
Ruling yearIRS BMFNov 2005

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a6
Independent voting membersPt VI · Ln 1b2
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Secretary (through 12/2024)
$0Pt VII · Sec A
Secretary (effective 1/2025)
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$548K · 77%
Investment income$168K · 23%
Contributions & grants77%$548K
Investment income23%$168K
Other revenue$462
Total revenueLn 12$716K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.91 Management & general $0.08 Fundraising $0.01
Program services91%$946K
Management & general8%$82K
Fundraising1%$13K
Total functional expensesLn 25$1.0M

Balance Sheet

Part X · end of year
CashLn 1$3.9M
Total assetsLn 16$6.0M
Total liabilitiesLn 26$110K
Total net assetsLn 32$5.8M
Months of cash on handcomputed44.9

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $3.9M · Operating expenses/yr $1.0M
44.9 months
Where the money goes
Program services
Program services $946K · Total expenses $1.0M
91%
Management & General
Management & general $82K · Total expenses $1.0M
8%
Fundraising
Fundraising $13K · Total expenses $1.0M
1%
Cost to raise $1
Fundraising expense (3-yr avg) $13K · Solicited contributions (3-yr avg) $273K
$0.05 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $548K · Total revenue $716K
77%
Government reliance
Government grants — · Total revenue $716K
Earned-income share
Program service revenue $0 · Total revenue $716K
0%
Investment reliance
Investment income $168K · Total revenue $716K
+23%
Program self-sufficiency
Program service revenue $0 · Total expenses $1.0M
0%
Growth & trend
Revenue growth (YoY)
This year $716K · Prior year $329K
+118%
Revenue CAGR
FY2020 $3.5M · FY2024 $716K
-33%
Net-asset trend (YoY)
End of year $5.8M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $716K · Expenses $1.0M
-45%
Liabilities-to-Assets
Total liabilities — · Total assets $6.0M
Net-asset ratio
Net assets $5.8M · Total assets $6.0M
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $6.0M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Tracy S Woodrow · Reported title CHAIR · Highest reported compensation $0 · Total expenses $1.0M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $1.0M
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 91%
Overhead ratio 8%
Fundraising cost ratio 2%
Revenue growth 118%
Legal fee ratio 0.3%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$24K
Grants paid · 4 grants · $620K · 2021–2024
Unitemized GrantFY2024$146,265
Unitemized GrantFY2023$123,595
Unitemized GrantFY2022$153,039
Unitemized GrantFY2021$197,463

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$716K revenue · viewing · ⤓ 990 PDF
FY2024$329K revenue · ⤓ 990 PDF
FY2023$160K revenue · ⤓ 990 PDF
FY2022$3.0M revenue · ⤓ 990 PDF
FY2021$3.5M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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