43north Bpc INC FY2021 filing

Tax-deductible

Buffalo, NY501(c)(3)Since 2015Community DevelopmentEIN 47-2878159

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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.

501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
$275K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $8.3M a year · 67% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$275K
to officers and key staff · 0.6% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.2 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $4K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$717K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.0M
-91% vs prior year
Spent
$48.7M
To programs
99%
Net assets
$11.5M
By yearFY2020–FY2024
Revenue
$3.0M
FY2021▼ -91%
Revenue by fiscal year
FY2020$32.4M
FY2021$3.0M
FY2022$8.2M
FY2023$8.8M
FY2024$9.8M
Expenses
$48.7M
FY2021▲ +77%
Expenses by fiscal year
FY2020$27.5M
FY2021$48.7M
FY2022$8.5M
FY2023$9.0M
FY2024$10.0M
Net assets
$11.5M
FY2021▼ -78%
Net assets by fiscal year
FY2020$53.2M
FY2021$11.5M
FY2022$10.3M
FY2023$9.1M
FY2024$5.7M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2015.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $48.1M Management & general 1% · $660K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990; $275K paid to officers and key staff.

Part VII, Section A · reportable compensation
$152,500Pt VII · Sec A
Vice President
$122,100Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Immediate Past Chair
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Colleen Heidinger’s $227K as President is at the 74th percentile of top reported officer pay among 2832 $1–10M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Colleen Heidinger$227,088$215,000$188,218$152,500$135,958
Maura Devlin—$161,250$137,231$122,100$110,000
Dominic Costanzo$155,503$105,000———
Kevin Siskar——$126,266——
Christian Karrer$117,702$109,594———
Lauren Rivett————$113,187
Christian Gaddis$87,800————
Alex Gress————$12,692

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Hosts a global business plan competition that awards funding and support to startups that relocate to and grow the Western New York economy.

Provided by the organization

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1 program service account for $48.1M of program spending, described in the organization's own filed words · FY2021.
01

Global business plan competition

$48.1Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$4K
Grants paid · 755 grants · $28.0M · 2020–2024
Zam Helmets INCFY2024$1,000,000
Stepwise Electric INCFY2024$900,000
Leaping Harts INC (dba Kredit Academy)FY2024$900,000
Guidesly INCFY2024$900,000
G Cards INCFY2024$900,000
Empirican Group INCFY2024$500,000
Ouiby INCFY2024$166,666
Taskunite INCFY2024$100,000
Otrafy INCFY2024$100,000
Mod Tech Labs INCFY2024$100,000
Taskunite INCFY2023$900,000
Otrafy INCFY2023$900,000
Mod Tech Labs INCFY2023$900,000
Twipes USA LimitedFY2023$685,000
Shearshare INCFY2023$400,000
Phood INCFY2023$333,333
Flox (us) INCFY2023$215,000
Big Wheelbarrow INCFY2023$100,000
See all 755 grants →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$3.0M
Ln 12
Gifts and grantsLn 1h$2.9M
Other incomeLn 4–11$128K
Investment incomeLn 3$87
Money outPt IX
$48.7M
Ln 25
Programscol B$48.1M
Managementcol C$660K
Owns and owesPt X
$11.5M
net assets · Ln 32
Cash and savingsLn 1–2$958K
Total assetsLn 16$12.2M
LiabilitiesLn 26$717K
PeoplePt VI, VII
11
listed · VII A
PaidVII A2
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.9M
Government grantsLn 1e$2.3M
Noncash giftsLn 1g$13K
Investment incomeLn 3$87
Other incomeLn 4–11$128K
Total revenueLn 12$3.0M
Assets in detailPt X, end of year
CashLn 1$958K
Cash and savings togetherLn 1–2$958K
InvestmentsLn 11–13$11.0M
Land, buildings, equipmentLn 10c$1.3M
Total assetsLn 16$12.2M
LiabilitiesLn 26$717K
Net assetsLn 32$11.5M
OperationsPt I, VI
EmployeesI 516
VolunteersI 6500
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$5.3M$958K
InvestmentsLn 11–13$46.4M$11.0M
Land, buildings, equipmentLn 10c$1.8M$1.3M
Total assetsLn 16$53.5M$13.4M
LiabilitiesLn 26$348K$717K
Net assetsLn 32$53.2M$12.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$45.1M$45.1M
Pay of current officers, directors and key staffLn 5$275K$220K$55K
Other salaries and wagesLn 7$505K$478K$27K
Pension plan contributionsLn 8$15K$13K$1K
Other employee benefitsLn 9$88K$86K$3K
Payroll taxesLn 10$77K$68K$8K
Management feesLn 11a$54K$23K$31K
Legal feesLn 11b$30K$30K
Accounting feesLn 11c$33K$33K
Advertising and promotionLn 12$1.3M$1.3M
Office expensesLn 13$35K$35K
OccupancyLn 16$515K$514K$956
TravelLn 17$152K$123K$28K
Depreciation, depletion and amortizationLn 22$439K$439K
InsuranceLn 23$7K$7K
Other expenses (24a–d)Ln 24$47K$22K$25K
All other expensesLn 24e$759$759
Total functional expensesLn 25$48.7M$48.1M$660K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $9.8M$10.0M−$226K$5.7M 990 PDF
FY2023 $8.8M$9.0M−$154K$9.1M 990 PDF
FY2022 $8.2M$8.5M−$296K$10.3M 990 PDF
FY2021 Viewing $3.0M$48.7M−$45.7M$11.5M 990 PDF
FY2020 $32.4M$27.5M$4.9M$53.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $3,001,464 across 7 lines filed
VIII-1e Government grants$2,310,115
VIII-1f All other contributions, gifts and grants$563,422
VIII-1g Noncash contributions (included above)$13,422
VIII-1h Total contributions, gifts and grants$2,873,537
VIII-3 Investment incomeExcluded from tax $87$87
VIII-6 Net rental income or lossRelated to mission $127,840$127,840
VIII-12 Total revenueRelated to mission $127,840 · Unrelated business $0 · Excluded from tax $87$3,001,464
Part IX · Statement of functional expenses $48,748,593 across 17 lines filed
IX-1 Grants to domestic organizationsPrograms $45,138,661$45,138,661
IX-5 Pay of current officers, directors and key staffPrograms $219,680 · Management $54,920$274,600
IX-7 Other salaries and wagesPrograms $478,211 · Management $26,586$504,797
IX-8 Pension plan contributionsPrograms $13,347 · Management $1,220$14,567
IX-9 Other employee benefitsPrograms $85,824 · Management $2,548$88,372
IX-10 Payroll taxesPrograms $68,406 · Management $8,263$76,669
IX-11a Management feesPrograms $23,183 · Management $30,686$53,869
IX-11b Legal feesPrograms $30,364$30,364
IX-11c Accounting feesPrograms $33,195$33,195
IX-12 Advertising and promotionPrograms $1,338,224$1,338,224
IX-13 Office expensesManagement $34,726$34,726
IX-16 OccupancyPrograms $513,915 · Management $956$514,871
IX-17 TravelPrograms $123,123 · Management $28,471$151,594
IX-22 Depreciation, depletion and amortizationManagement $439,155$439,155
IX-23 InsuranceManagement $7,162$7,162
IX-24 Other expenses (24a–d)Programs $22,389 · Management $24,619$47,008
IX-24e All other expensesManagement $759$759
IX-25 Total functional expensesPrograms $48,088,522 · Management $660,071 · Fundraising $0$48,748,593
Part X · Balance sheet $13,425,800 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $5,306,439$957,859
X-3 Pledges and grants receivableStart of year $44,537$130,053
X-9 Prepaid expenses and deferred chargesStart of year $45,366$9,186
X-10c Land, buildings and equipment, netStart of year $1,782,760$1,343,605
X-12 Other securitiesStart of year $46,358,090$10,985,097
X-16 Total assetsStart of year $53,537,192$13,425,800
X-17 Accounts payable and accrued expensesStart of year $164,512$189,514
X-19 Deferred revenueStart of year $0$527,054
X-24 Unsecured notes and loans payableStart of year $183,100$0
X-26 Total liabilitiesStart of year $347,612$716,568
X-27 Net assets without donor restrictionsStart of year $52,189,580$12,709,232
X-28 Net assets with donor restrictionsStart of year $1,000,000$0
X-32 Total net assets or fund balancesStart of year $53,189,580$12,709,232
X-33 Total liabilities and net assetsStart of year $53,537,192$13,425,800
Part XI · Reconciliation of net assets $12,709,232 net assets at year end
XI-1 Total revenue$3,001,464
XI-2 Total expenses$48,748,593
XI-3 Revenue less expenses−$45,747,129
XI-4 Net assets at start of year$53,189,580
XI-5 Net unrealized gains (losses) on investments$5,266,781
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$12,709,232

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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