43north Bpc INC FY2022 filing

Tax-deductible

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

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.
91¢ of each $1 spent went to programs.
$452K 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

FY2022 · 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
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$452K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Looks good: 3.2 months of spending in cash; 3 or more.
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
$3.1M
23% of total assets
Looks good: liabilities are 23% 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
$8.2M
+173% vs prior year
Spent
$8.5M
To programs
91%
Net assets
$10.3M
By yearFY2020–FY2024
Revenue
$8.2M
FY2022▲ +173%
Revenue by fiscal year
FY2020$32.4M
FY2021$3.0M
FY2022$8.2M
FY2023$8.8M
FY2024$9.8M
Expenses
$8.5M
FY2022▼ -83%
Expenses by fiscal year
FY2020$27.5M
FY2021$48.7M
FY2022$8.5M
FY2023$9.0M
FY2024$10.0M
Net assets
$10.3M
FY2022▼ -10%
Net assets by fiscal year
FY2020$53.2M
FY2021$11.5M
FY2022$10.3M
FY2023$9.1M
FY2024$5.7M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 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

91 cents of each dollar spent went to programs.

Program services 91% · $7.7M Management & general 9% · $759K

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

Who runs it and what they're paid

10 people listed on the 990; $452K paid to officers and key staff.

Part VII, Section A · reportable compensation
$188,218Pt VII · Sec A
Vice President
$137,231Pt VII · Sec A
Vice President
$126,266Pt 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

This section is blank until 43north Bpc INC claims this page.

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1 program service account for $7.7M of program spending, described in the organization's own filed words · FY2022.
01

Global business plan competition

$7.7Mprogram 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 FY2022 990, line by line.

1The main four
Money inPt VIII
$8.2M
Ln 12
Gifts and grantsLn 1h$8.1M
Other incomeLn 4–11$114K
Money outPt IX
$8.5M
Ln 25
Programscol B$7.7M
Managementcol C$759K
Owns and owesPt X
$10.3M
net assets · Ln 32
Cash and savingsLn 1–2$2.3M
Total assetsLn 16$13.4M
LiabilitiesLn 26$3.1M
PeoplePt VI, VII
10
listed · VII A
PaidVII A3
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$8.1M
Government grantsLn 1e$6.8M
Noncash giftsLn 1g$18K
Other incomeLn 4–11$114K
Total revenueLn 12$8.2M
Assets in detailPt X, end of year
CashLn 1$2.3M
Cash and savings togetherLn 1–2$2.3M
InvestmentsLn 11–13$8.9M
Land, buildings, equipmentLn 10c$907K
Other assetsLn 15$1.0M
Total assetsLn 16$13.4M
LiabilitiesLn 26$3.1M
Net assetsLn 32$10.3M
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 FY22End FY22
Cash and savingsLn 1–2$958K$2.3M
InvestmentsLn 11–13$11.0M$8.9M
Land, buildings, equipmentLn 10c$1.3M$907K
Total assetsLn 16$13.4M$13.4M
LiabilitiesLn 26$717K$3.1M
Net assetsLn 32$12.7M$10.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$4.3M$4.3M
Pay of current officers, directors and key staffLn 5$449K$406K$44K
Other salaries and wagesLn 7$634K$573K$61K
Other employee benefitsLn 9$148K$143K$5K
Payroll taxesLn 10$99K$90K$9K
Management feesLn 11a$65K$22K$43K
Legal feesLn 11b$64K$64K
Accounting feesLn 11c$51K$51K
Advertising and promotionLn 12$1.4M$1.4M
Office expensesLn 13$79K$79K
OccupancyLn 16$530K$530K
TravelLn 17$167K$144K$22K
InterestLn 20$17K$17K
Depreciation, depletion and amortizationLn 22$437K$437K
InsuranceLn 23$5K$5K
Other expenses (24a–d)Ln 24$89K$42K$48K
All other expensesLn 24e$6K$6K
Total functional expensesLn 25$8.5M$7.7M$759K$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 Viewing $8.2M$8.5M−$296K$10.3M 990 PDF
FY2021 $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 FY2022 990 (4 parts)
Part VIII · Statement of revenue $8,181,242 across 6 lines filed
VIII-1e Government grants$6,803,423
VIII-1f All other contributions, gifts and grants$1,263,513
VIII-1g Noncash contributions (included above)$17,886
VIII-1h Total contributions, gifts and grants$8,066,936
VIII-6 Net rental income or lossRelated to mission $114,306$114,306
VIII-12 Total revenueRelated to mission $114,306 · Unrelated business $0 · Excluded from tax $0$8,181,242
Part IX · Statement of functional expenses $8,477,223 across 17 lines filed
IX-1 Grants to domestic organizationsPrograms $4,285,000$4,285,000
IX-5 Pay of current officers, directors and key staffPrograms $405,922 · Management $43,529$449,451
IX-7 Other salaries and wagesPrograms $572,551 · Management $61,397$633,948
IX-9 Other employee benefitsPrograms $143,054 · Management $4,768$147,822
IX-10 Payroll taxesPrograms $89,539 · Management $9,128$98,667
IX-11a Management feesPrograms $21,777 · Management $43,395$65,172
IX-11b Legal feesPrograms $63,583$63,583
IX-11c Accounting feesPrograms $50,562$50,562
IX-12 Advertising and promotionPrograms $1,352,991$1,352,991
IX-13 Office expensesManagement $78,517$78,517
IX-16 OccupancyPrograms $529,654$529,654
IX-17 TravelPrograms $144,313 · Management $22,485$166,798
IX-20 InterestPrograms $17,220$17,220
IX-22 Depreciation, depletion and amortizationManagement $436,881$436,881
IX-23 InsuranceManagement $5,329$5,329
IX-24 Other expenses (24a–d)Programs $41,650 · Management $47,613$89,263
IX-24e All other expensesManagement $6,365$6,365
IX-25 Total functional expensesPrograms $7,717,816 · Management $759,407 · Fundraising $0$8,477,223
Part X · Balance sheet $13,369,607 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $957,859$2,256,169
X-3 Pledges and grants receivableStart of year $130,053$278,108
X-9 Prepaid expenses and deferred chargesStart of year $9,186$64,260
X-10c Land, buildings and equipment, netStart of year $1,343,605$906,725
X-12 Other securitiesStart of year $10,985,097$8,855,889
X-15 Other assetsStart of year $0$1,008,456
X-16 Total assetsStart of year $13,425,800$13,369,607
X-17 Accounts payable and accrued expensesStart of year $189,514$198,423
X-19 Deferred revenueStart of year $527,054$1,878,684
X-25 Other liabilitiesStart of year $0$1,008,456
X-26 Total liabilitiesStart of year $716,568$3,085,563
X-27 Net assets without donor restrictionsStart of year $12,709,232$10,284,044
X-32 Total net assets or fund balancesStart of year $12,709,232$10,284,044
X-33 Total liabilities and net assetsStart of year $13,425,800$13,369,607
Part XI · Reconciliation of net assets $10,284,044 net assets at year end
XI-1 Total revenue$8,181,242
XI-2 Total expenses$8,477,223
XI-3 Revenue less expenses−$295,981
XI-4 Net assets at start of year$12,709,232
XI-5 Net unrealized gains (losses) on investments−$2,129,207
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$10,284,044

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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