Buffalo Funk Fest Foundation

Nonprofit profile at a glance

EIN
882102754
IRS 990-EZ coverage
2023–2024
Forms available
Form 990-EZ 2024, Form 990-N 2021
Location
Buffalo, NY, USA
Rating
92
Verdict
STRONG
Rating confidence
Moderate
Sector
Youth Development Programs

Reported finances

Revenue
$148,600
Expenses
$156,469
Assets
$22,747

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • Marnetta Malcolm (President)
  • Iris Boston (Vice President)

People named in this filing

  • Marnetta Malcolm (President)
  • Iris Boston (Vice President)
  • Joyce Stokes (Secretary)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Buffalo Funk Fest Foundation Inc. mission is to produce promote and provide sustainability for Buffalo Funk Fest Weekend and Jefferson Avenue Friday Night Live through partnerships that benefit the City of Buffalo residents. Buffalo Funk Fest and Jefferson Avenue Friday Night Live are free and open to the public events that enhance our arts and culture through live entertainment from national and local artists. We support community pride by providing information and resources that encourage engagement while fostering relationships with businesses to build economic growth and improve the quality of life in Buffalos disadvantaged neighborhoods

What it reported doing in 2024

Jefferson Avenue Friday Night Live is a summer series community-driven initiative providing a vibrant free and accessible space for families and individuals to gather celebrate and connect with their neighbors. This series aims to promote healing and joy following the May 14th Tops massacre offering critical social services cultural exchange entertainment and community solidarity. It is founded on the belief that community ownership and participation are essential for fostering healing boosting local economies and creating inclusive spaces for all to thrive. Since its start Friday Night Live has successfully united people of all ages and backgrounds offering social services entertainment music food and community support. It serves as a welcoming free event for Buffalos Black community and beyond emphasizing a safe and inclusive environment for healing and connection. The success of Friday Night Live is owed to its grassroots approach. Local artists musicians food vendors and organizations collaborate to showcase the diverse cultures and talents within our community. The series nurtures a sense of ownership and empowerment with those involved in organizing the event also benefiting from it. This event spans one city block with an estimated weekly attendance averaging 1500 people per week over 9 weeks in the summer.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 94
  • Transparency & Controls: 100
  • Sustainability: 22
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.2%; rating input score 96
  • Program expense ratio: 91.4%; rating input score 91

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -5.3%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 0.15; rating input score 15; 15th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings

Growth

  • Program expense growth: 38.3% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 25.5% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: -139.5% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 96.2% of revenue deployed · 91.4% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 3 filed program accomplishments · $143K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 22/100.
  • High — Sustainability: Total-asset coverage ratio scored 15/100.
  • High — Growth: Asset growth scored 0/100.