Community Foundation For Greater Buffalo Inc in Buffalo, New York (NY)

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Community Foundation For Greater Buffalo Inc
Employer Identification Number (EIN)222743917
Name of OrganizationCommunity Foundation For Greater Buffalo Inc
Address726 Exchange St Ste 525, Buffalo, NY 14210-1469
ActivitiesGifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date02/1987
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$50,000,000 to greater
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$300,238,903
Amount of Income$47,716,966
Form 990 Revenue Amount$24,123,677
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Community Foundations


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Amount of income in 2013: $47,716,966
Community Foundation For Greater Buffalo Inc: 

 $47,716,966
Other organizations performing similar types of work: 

 $123,400

Assets in 2013: $300,238,903
This organization: 

 $300,238,903
Other organizations performing similar types of work: 

 $188,019

Expenses in 2012: $14,269,609
This organization: 

 $14,269,609
Other organizations performing similar types of work: 

 $82,376

Income to expenses ratio in 2012: 3.3
This organization: 

 3.3
Other organizations performing similar types of work: 

 5.6

Expenses allocated to program services in 2007: 85.0%
This organization: 

 85.0%
Other organizations performing similar types of work: 

 87.3%

Grants share in income in 2012: 73.3%
Community Foundation For Greater Buffalo Inc: 

 73.3%
Other organizations performing similar types of work: 

 20.2%

Financial snapshot ($)

Revenue for 2012

Functional expenses for 2012

Support schedule

Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?Yes
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2012)
Total revenue$27,683,518
Contributions, Gifts, Grants and Other Similar Amounts$20,288,442
Program Service Revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$1,748,606
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$5,018,589
Gross amount from sales of assets other than inventory (Securities / Other)$39,552,557 / $0
Less: cost or other basis and sales expenses (Securities / Other)$34,533,968 / $0
Gain or (loss) (Securities / Other)$5,018,589 / $0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$627,881
Statement of Functional Expenses (for 2012)
Total functional expenses$14,269,609
Compensation of current officers, directors, trustees, and key employees$351,065
Other salaries and wages$992,197
Payroll taxes$113,127
Professional fundraising services$0
Other$12,813,220
Balance Sheet (for 2012)
Total assets$258,705,854
Total liabilities$35,631,422
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$35,631,422
Total net assets or fund balances$223,074,432
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2012)
The organization is not a private foundation because it is:A community trust described in section 170(b)(1)(A)(vi)
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2012)
2008 - 2012 Total
Total Support$67,987,666
Gifts, grants, contributions, and membership fees received$57,887,630
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$10,100,036
Gross receipts from related activities, etc.$0
Revenue, Expenses, and Changes in Net Assets or Fund Balances
2001200520062007
Total revenue$5,632,747$7,133,252$29,349,628$34,515,815
Contributions, gifts, grants, and similar amounts received$4,902,550$5,601,178$13,839,615$20,426,868
Contributions to donor advised funds$0$5,003,014
Direct public support$4,887,550$5,601,178$13,839,615$15,423,854
Indirect public support$0$0$0$0
Government contributions (grants)$15,000$0$0$0
Program service revenue including government fees and contracts$0$0$0$0
Membership dues and assessments$0$0$0$0
Interest on savings and temporary cash investments$243,758$63,074$280,006$366,826
Dividends and interest from securities$547,070$724,133$3,351,359$2,941,434
Net rental income or (loss)$0$0$0$0
Gross rents$0$0$0$0
Less: rental expenses$0$0$0$0
Other investment income$0$0$0$0
Gain or (loss) from sales of assets other than inventory$-72,770$733,039$11,814,441$10,697,959
Gross amount from sales of assets other than inventory$1,402,891$2,323,500$37,666,254$31,249,788
Less: cost or other basis and sales expenses$1,475,661$1,590,461$25,851,813$20,551,829
Net income or (loss) from special events and activities$0$0$0$0
Gross revenue$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0
Less: cost of goods sold$0$0$0$0
Other revenue$12,139$11,828$64,207$82,728
Total expenses$2,405,816$4,622,052$9,295,638$11,304,292
Program services$1,934,713$4,115,623$7,551,813$9,607,401
Management and general$471,103$506,429$1,687,368$1,638,541
Fundraising$0$0$56,457$58,350
Payments to affiliates$0$0$0$0
Net assets or fund balances at end of year$28,225,564$132,426,523$154,384,806$178,597,933
Excess or (deficit) for the year$3,226,931$2,511,200$20,053,990$23,211,523
Net assets or fund balances at beginning of year$26,198,731$37,596,516$132,426,523$154,384,806
Other changes in net assets or fund balances$-1,200,098$92,318,807$1,904,293$1,001,604
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$11,304,292$9,607,401$1,638,541$58,350
Grants paid from donor advised funds$5,421,253
Other grants and allocations$4,017,230
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$493,350$0$493,350$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$319,149$0$319,149$0
Pension plan contributions not included above$16,220$0$16,220$0
Employee benefits not included above$36,659$0$36,659$0
Payroll taxes$69,027$0$69,027$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$20,811$0$20,811$0
Supplies$0$0$0$0
Telephone$9,663$0$9,663$0
Postage and shipping$13,567$0$13,567$0
Occupancy$72,325$0$72,325$0
Equipment rental and maintenance$37,249$0$37,249$0
Printing and publications$16,421$0$16,421$0
Travel$1,014$0$1,014$0
Conferences, conventions, and meetings$19,763$0$19,763$0
Interest$0$0$0$0
Depreciation, depletion, etc.$6,051$0$6,051$0
Other expenses not covered above$734,540$168,918$507,272$58,350
Balance Sheets
2001200520062007
Total assets$30,235,607$135,045,965$158,872,257$184,727,891
Cash - non-interest-bearing$0$0$0$0
Savings and temporary cash investments$7,650,301$6,677,895$10,274,089$10,048,758
Accounts receivable less allowance for doubtful accounts$0$0$0$0
Pledges receivable less allowance for doubtful accounts$1,216,535$1,053,006$1,022,956$1,316,221
Grants receivable$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0
Inventories for sale or use$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$0
Investments - publicly-traded securities$143,247,457$147,298,194
Investments - other securities$0$124,899,685$0$10,994,815
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$61,321
Investments - other$21,328,761$0$3,834,364$9,738,035
Land, buildings, and equipment less accumulated depreciation$0$25,402$16,153$13,679
Other assets, including program-related investments$40,010$2,389,977$477,238$5,256,868
Total liabilities$2,010,043$2,619,442$4,487,451$6,129,958
Accounts payable and accrued expenses$0$0$0$0
Grants payable$25,581$595,806$653,087$1,444,398
Deferred revenue$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0
Mortgages and other notes payable$0$0$0$0
Other liabilities$1,984,462$2,023,636$3,834,364$4,685,560
Total liabilities and net assets/fund balances$30,235,607$135,045,965$158,872,257$184,727,891
Total net assets or fund balances$28,225,564$132,426,523$154,384,806$178,597,933
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2001200520062007
Total revenue$5,632,747$7,133,252$29,349,628$34,515,815
Total revenue, gains, and other support per audited financial statements$2,369,725$14,934,346$30,962,052$35,179,816
Other expenses$-3,263,022$8,079,157$1,904,293$1,001,604
Net unrealized gains on investments$-875,586$737,641$1,904,293$1,001,604
Donated services and use of facilities$0$0$0$0
Recoveries of prior year grants$0$0$0$0
Other$-2,387,436$7,341,516$0$0
Other revenue$0$278,063$291,869$337,603
Investment expenses$0$0$0$0
Other$0$278,063$291,869$337,603
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2001200520062007
Total expenses$2,405,816$4,622,052$9,295,638$11,304,292
Total expenses and losses per audited financial statements$7,245,672$8,786,411$9,003,769$10,966,689
Other revenue$4,916,438$4,442,422$0$0
Donated services and use of facilities$0$0$0$0
Prior year adjustments$0$0$0$0
Losses$0$0$0$0
Other$4,916,438$4,442,422$0$0
Other expenses$76,582$278,063$291,869$337,603
Investment expenses$0$0$0$0
Other$76,582$278,063$291,869$337,603
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$130,118$12,466$0
40$95,333$6,757$0
40$88,255$6,879$0
40$80,101$6,400$0
40$62,372$4,669$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings13
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 200615
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$14,006,219$82,728
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$366,826$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$2,941,434$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$10,697,959$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$82,728
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$58,811$4,459$0
$56,147$4,460$0
$51,036$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?Yes
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$295
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$40,548,345
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isCommunity Trust
Support Schedule
2000200420052006
Total$7,332,774$5,604,366$6,388,385$17,470,980
Gifts, grants, and contributions received$5,856,017$5,142,284$5,601,178$13,839,615
Membership fees received$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$1,476,757$462,082$787,207$3,631,365
Net income from unrelated business activities not included above$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0
Other income$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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2The Community Foundation For The Greater Capital Region Inc6 Tower Place, Albany, NY 12203-3725NY1968-12$71,687,086
3Westchester Community College Foundation Inc75 Grasslands Rd, Valhalla, NY 10595-1550NY1970-06$33,951,916
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8The Bronx Community College Foundation Inc2155 University Ave, Bronx, NY 10453-2804NY1990-10$659,667
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Number of organizations performing similar types of work
Alaska10
Alabama42
Arkansas20
Arizona50
California335
Colorado77
Connecticut51
District of Columbia21
Delaware7
Florida144
Georgia79
Hawaii16
Iowa86
Idaho15
Illinois129
Indiana75
Kansas52
Kentucky26
Louisiana25
Massachusetts83
Maryland76
Maine16
Michigan126
Minnesota62
Missouri48
Mississippi28
Montana45
North Carolina78
North Dakota10
Nebraska44
New Hampshire13
New Jersey99
New Mexico20
Nevada22
New York174
Ohio132
Oklahoma33
Oregon58
Pennsylvania123
Rhode Island20
South Carolina36
South Dakota9
Tennessee37
Texas194
Utah27
Virginia70
Vermont13
Washington71
Wisconsin83
West Virginia22
Wyoming12
International7
Total3,151

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