Buffalo State College Foundation Housing Corporation

Nonprofit profile at a glance

EIN
943462623
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Buffalo, NY, USA
Phone
7168785304
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$6,111,553
Expenses
$3,558,283
Assets
$36,246,982
Liabilities
$33,294,024

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

Leadership & pay

9 people listed

Executive titles in this filing

  • C TEO BALBACH (PRESIDENT)
  • MICHAEL BONITATIBUS (VICE PRESIDENT)
  • JIM FINNERTY (EXECUTIVE DIRECTOR)

People named in this filing

  • C TEO BALBACH (PRESIDENT)
  • MICHAEL BONITATIBUS (VICE PRESIDENT)
  • RICHARD TRIGILIO (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. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Established for the provision and maintenance of residential facilities for students and faculty at buffalo state university.

What it reported doing in 2024

Construct and operate residential student-housing. The housing consists of a 224,000 square foot, seven-story complex consisting of 507 beds, to serve the students of buffalo state university.

Operating model

Revenue model
Earned-program. 94% of the money available for current operations came from fees and other program revenue.
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 total spending goes to programs. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 81
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 51.7%; rating input score 52
  • Program expense ratio: 93.7%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 41.8%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 10.19; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.92; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: -2.4% per year; rating input score 0; 8th percentile among comparable filings
  • Revenue growth: 5.8% per year; rating input score 100; 47th percentile among comparable filings
  • Asset growth: 0.8% per year; rating input score 100; 15th percentile among comparable filings

Details

  • Where the money goes: 51.7% of revenue deployed · 93.7% of spending went to programs
  • Governance: 8 of 8 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $3.3M in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 filed related-organization links
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 52/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.