Buffalo Prescott Foundation

Tax-deductible

Southfield, MI501(c)(3)Foundations & GrantmakersEIN 99-2147548

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Buffalo prescott's mission is to nurture the growth of detroit's contemporary art ecosystem by providing direct material support to artists, fostering multi-layered interactions, and offering accessible educational/cultural programming.

501(c)(3) charity; gifts are tax-deductible.
73¢ of each $1 spent went to programs.
$38K 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

FY2024 · 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
Spent on programs
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$38K
to officers and key staff · 16% of spending
Top officer’s pay lower than 66% of similar orgs
Fine: pay to officers and key staff is 16% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $160K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$59K
89% of total assets
Concern: liabilities are 89% of assets; over 80%.
Pt X · Ln 26
Independent board members
2
of 3 voting members
Looks good: 2 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$234K
Spent
$227K
To programs
73%
Net assets
$7K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2024.

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

Where the money goes

73 cents of each dollar spent went to programs.

Program services 73% · $165K Management & general 27% · $62K

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

4 people listed on the 990; $38K paid to officers and key staff.

Part VII, Section A · reportable compensation
Managing Director
$37,500Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Leto Rankine’s $38K as Managing Director is at the 34th percentile of top reported officer pay among 1265 $100K–1M philanthropy & grantmaking 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.

See Buffalo Prescott Foundation executive salaries →

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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 15aNo
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Supports Detroit artists with materials, connections, and accessible art education.

Provided by the organization

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1 program · $165K · in their own filed words · FY2024
01

Public programming is aimed at filling the gaps in the detroit art scene, collaborating with local institutions and creatives, and offering a platform and exposure for detroit's tremendous well of talent.

$165Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$160K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$234K
Ln 12
Gifts and grantsLn 1h$228K
Other incomeLn 4–11$6K
Money outPt IX
$227K
Ln 25
Programscol B$165K
Managementcol C$62K
Owns and owesPt X
$7K
net assets · Ln 32
Cash and savingsLn 1–2$24K
Total assetsLn 16$66K
LiabilitiesLn 26$59K
PeoplePt VI, VII
4
listed · VII A
PaidVII A1
Voting boardVI 1a3
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$228K
Other incomeLn 4–11$6K
Total revenueLn 12$234K
Assets in detailPt X, end of year
CashLn 1$24K
Cash and savings togetherLn 1–2$24K
Land, buildings, equipmentLn 10c$36K
Other assetsLn 15$5K
Total assetsLn 16$66K
LiabilitiesLn 26$59K
Net assetsLn 32$7K
OperationsPt I, VI
EmployeesI 51
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$0$24K
Land, buildings, equipmentLn 10c$0$36K
Total assetsLn 16$0$66K
LiabilitiesLn 26$0$59K
Net assetsLn 32$0$7K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$38K$38K
Other employee benefitsLn 9$5K$5K
Payroll taxesLn 10$3K$3K
Management feesLn 11a$7K$7K
Legal feesLn 11b$30K$10K$20K
Accounting feesLn 11c$12K$12K
Advertising and promotionLn 12$40K$30K$10K
Office expensesLn 13$11K$9K$3K
Information technologyLn 14$2K$2K
OccupancyLn 16$44K$33K$11K
TravelLn 17$2K$2K
Conferences, conventions and meetingsLn 19$195$195
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$23K$23K
All other expensesLn 24e$8K$8K
Total functional expensesLn 25$227K$165K$62K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $234K$227K$7K$7K 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $234,422 across 4 lines filed
VIII-1f All other contributions, gifts and grants$228,262
VIII-1h Total contributions, gifts and grants$228,262
VIII-8 Net income from fundraising eventsExcluded from tax $6,160$6,160
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $6,160$234,422
Part IX · Statement of functional expenses $227,410 across 15 lines filed
IX-7 Other salaries and wagesPrograms $37,500$37,500
IX-9 Other employee benefitsPrograms $5,238$5,238
IX-10 Payroll taxesPrograms $3,167$3,167
IX-11a Management feesManagement $6,894$6,894
IX-11b Legal feesPrograms $9,988 · Management $19,975$29,963
IX-11c Accounting feesManagement $11,625$11,625
IX-12 Advertising and promotionPrograms $29,916 · Management $9,972$39,888
IX-13 Office expensesPrograms $8,540 · Management $2,847$11,387
IX-14 Information technologyPrograms $1,647$1,647
IX-16 OccupancyPrograms $32,978 · Management $10,993$43,971
IX-17 TravelPrograms $2,117$2,117
IX-19 Conferences, conventions and meetingsPrograms $195$195
IX-23 InsurancePrograms $3,100$3,100
IX-24 Other expenses (24a–d)Programs $22,947$22,947
IX-24e All other expensesPrograms $7,771$7,771
IX-25 Total functional expensesPrograms $165,104 · Management $62,306 · Fundraising $0$227,410
Part X · Balance sheet $66,119 assets, 7 lines filed
Asset lines not itemized here account for $941; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $0$24,009
X-10c Land, buildings and equipment, netStart of year $0$36,169
X-15 Other assetsStart of year $0$5,000
X-16 Total assetsStart of year $0$66,119
X-26 Total liabilitiesStart of year $0$59,107
X-32 Total net assets or fund balancesStart of year $0$7,012
X-33 Total liabilities and net assetsStart of year $0$66,119
Part XI · Reconciliation of net assets $7,012 net assets at year end
XI-1 Total revenue$234,422
XI-2 Total expenses$227,410
XI-3 Revenue less expenses$7,012
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$7,012

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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