Buffalo Prescott Foundation
Nonprofit profile at a glance
- EIN
- 992147548
- IRS 990 coverage
- 2024–2024
- Forms available
- Form 990 2024
- Location
- Birmingham, MI, USA
- Phone
- 4104919560
- Rating
- 64
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Private Grantmaking Foundations
Reported finances
- Revenue
- $234,422
- Expenses
- $227,410
- Assets
- $66,119
- Liabilities
- $59,107
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
4 people listed
Highest reported compensation
- LETO RANKINE (MANAGING DIRECTOR): $37,500 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
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.
What it reported doing in 2024
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.
Operating model
- Revenue model
- Donor-supported. 97% 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
SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 63
- Transparency & Controls: 92
- Accountability: 50
- Sustainability: 30
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 70.4%; rating input score 70
- Program expense ratio: 72.6%; rating input score 73
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 66.7%; rating input score 67; 18th percentile among comparable filings
- Governance controls: 2 of 8 controls in place; rating input score 25
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 3%; rating input score 46; 46th percentile among comparable filings
- Total-asset coverage ratio: 0.29; rating input score 16; 16th percentile among comparable filings
- Liabilities to assets ratio: 0.89; rating input score 6; 6th percentile among comparable filings
- Officer compensation ratio: 16.5%; rating input score 23; 23rd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 70.4% of revenue deployed · 72.6% of spending went to programs
- Governance: 2 of 3 board members independent · 2 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $165K in reported program spending
- Leadership: top reported pay $38K · 4 people listed
- Consistency: 26 of 26 current checks pass
- Schedules: 5 filed schedules · includes major donors
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- 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 — Accountability: Governance controls: 5 of 7 not reported.
- Moderate — Sustainability: Operating margin scored 46/100.
- High — Sustainability: Total-asset coverage ratio scored 16/100.
- High — Sustainability: Liabilities to assets ratio scored 6/100.
- High — Sustainability: Officer compensation ratio scored 23/100.