Friends of Silo City Inc

Nonprofit profile at a glance

EIN
822584517
IRS 990-EZ coverage
2017–2024
Forms available
Form 990-EZ 2024, Form 990-N 2016
Location
Buffalo, NY, USA
Phone
7168494760
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Reported finances

Revenue
$175,467
Expenses
$90,169
Assets
$170,272
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • JOSHUA SMITH (VICE PRESIDENT)
  • MARIS GRUNDY (PRESIDENT)

People named in this filing

  • JOSHUA SMITH (VICE PRESIDENT)
  • MARIS GRUNDY (PRESIDENT)
  • RICHARD SMITH (CHAIR)

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 exempt purpose of the organization is to receive and administer funds for educational and charitable purposes to promote the creative regeneration of a historic buffalo site through the use of educational and environmental workshops, speakers, poetry readings, art openings, music events and other various events. These events will help to maintain and revitalize a historical site while providing additional educational and cultural experiences to the surrounding community.

What it reported doing in 2024

Creative regeneration of a historic buffalo site through the use of educational and environmental workshops, speakers, poetry readings, art openings, music events and other various events.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - 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 reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 100
  • Sustainability: 76
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 47.1%; rating input score 47
  • Program expense ratio: 91.6%; rating input score 92

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: 48.6%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 1.89; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 76; 76th percentile among comparable filings
  • Officer compensation ratio: 54%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: 29.4% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: 31.4% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 34.3% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: 47.1% of revenue deployed · 91.6% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $83K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 47/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.