Westminster Economic Developmentinitiative Inc
Only null% goes to programs Strong reserves Declining revenue
Westminster Economic Developmentinitiative Inc is a 501(c)(3) organization based in Buffalo, New York, registered in 2007, with $2,171,800 in FY2024 revenue. CharityIndex grades it B.
1432 Niagara St, Buffalo, NY, 14213 EIN 20-4230463 Since 2007
Revenue (FY2024)
$2.2M
▼ 68.6% vs prior year
Community median: $184K
Expenses (FY2024)
$2.2M
Net assets
$10.0M
Employees
—
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B
★★★★
Rated on 2 of 4 criteria — the rest aren't reported in this filing type.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Westminster Economic Developmentinitiative Inc— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating55 mo reserves · -1% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Westminster Economic Developmentinitiative Inc: 55 mo reserves · -1% margin earns a A on this criterion. See the exact thresholds →
—Governance25% of the ratingNot reported in this filing type
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. Not scored for Westminster Economic Developmentinitiative Inc— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
CTransparency10% of the rating2 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Westminster Economic Developmentinitiative Inc: 2 of 5 disclosure signals earns a C on this criterion. See the exact thresholds →
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Contact & location
- Address
- 1432 Niagara St, Buffalo, NY, 14213
- City
- Buffalo
- State
- New York
- Subcategory
- Economic Development
- Website
- …
Financial trends
Revenue grew from $59K (FY2010) to $2.2M (FY2024) across 14 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $1.7MNet assets $10.0M
Operating margin
-0.5%
Spent more than it raised in the latest fiscal year.
Total assets
$11.7M
Total liabilities
$1.7M
Net assets
$10.0M
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $2,171,800▼68.6% | $2,183,617▼11.7% | $10,037,234▼0.1% | $11,712,530▼7.1% | 990 |
| 2023 | $6,918,706▲113% | $2,473,537▲7.7% | $10,049,051▲79.2% | $12,601,013▲21.1% | 990 |
| 2022 | $3,247,167▼32.7% | $2,295,731▲10.9% | $5,608,882▲27.2% | $10,403,298▲96.7% | 990 |
| 2021 | $4,824,412▲128% | $2,069,904▲17.4% | $4,408,137▲167% | $5,287,806▲103% | 990 |
| 2020 | $2,118,673▲23.5% | $1,763,082▲10.2% | $1,653,629▲27.4% | $2,609,168▲9.6% | 990 |
| 2019 | $1,715,793▲30.7% | $1,600,557▲61.6% | $1,298,038▲9.7% | $2,379,628▲17.6% | 990 |
| 2018 | $1,313,235▲19.9% | $990,167▲31.4% | $1,182,802▲37.6% | $2,024,093▲16.1% | 990 |
| 2017 | $1,095,067▲66.1% | $753,665▲39.8% | $859,734▲65.9% | $1,744,123▲67.6% | 990 |
| 2016 | $659,391▲96.6% | $538,980▲16.0% | $518,332▲30.3% | $1,040,821▲120% | 990 |
| 2015 | $335,318▼37.7% | $464,606▲40.4% | $397,921▼24.0% | $472,754▼18.0% | 990 |
| 2014 | $538,487▲283% | $330,825▲109% | $523,665▲68.4% | $576,375▲84.8% | 990 |
| 2013 | $140,767▲63.7% | $158,123▲63.9% | $310,879▲13.5% | $311,889▲11.7% | 990EZ |
| 2011 | $86,003▲44.6% | $96,478▲48.6% | $273,802▼3.7% | $279,102▼3.1% | 990EZ |
| 2010 | $59,456 | $64,907 | $284,277 | $287,977 | 990EZ |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Grants received · $2.6M total
29 grants to Westminster Economic Developmentinitiative Inc totaling $2.6M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Community Foundation For Greater Buffalo Inc | Charitable support. any restrictions have been communicated to the grantee. | 2024 | $125,200 |
| Community Foundation For Greater Buffalo Inc | Charitable support. any restrictions have been communicated to the grantee. | 2023 | $195,811 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2023 | $60,200 |
| National Philanthropic Tr | Culture & arts | 2023 | $40,000 |
| Charities Aid Foundation America | Charitable donation | 2023 | $20,000 |
| Independent Health Association Inc | Sponsorship | 2023 | $6,497 |
| Community Foundation For Greater Buffalo Inc | Unrestricted use; education and economic development programs; capital campaign for the west side bazaar; support for girls' club program; wedifest 2023; fire fund; | 2022 | $696,500 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2022 | $67,650 |
| National Philanthropic Tr | Public, societal benefit | 2022 | $40,000 |
| President and Fellows of Harvard College | Daf distribution/charitable contributions | 2022 | $25,000 |
| Community Foundation For Greater Buffalo Inc | Unrestricted use; winterfest; west side bazaar expansion project; transportation to field trips for the energy, fly and launch programs; education programs; capital campaign; open4 initiative; girls club program; development and production costs for capital campaign materials; general operations | 2021 | $583,000 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2021 | $86,500 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2021 | $86,500 |
| President and Fellows of Harvard College | Daf distribution/charitable contributions | 2021 | $25,000 |
| Donor Advised Charitable Giving | Public, societal benefit | 2021 | $12,765 |
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Frequently asked questions
- Is Westminster Economic Developmentinitiative Inc a legitimate nonprofit?
- Yes. Westminster Economic Developmentinitiative Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 20-4230463, based in Buffalo, New York. Donations are tax-deductible.
- What is Westminster Economic Developmentinitiative Inc's EIN?
- Westminster Economic Developmentinitiative Inc's Employer Identification Number (EIN) is 20-4230463.
- How much revenue does Westminster Economic Developmentinitiative Inc report?
- Westminster Economic Developmentinitiative Inc reported $2,171,800 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Westminster Economic Developmentinitiative Inc have?
- CharityIndex grades Westminster Economic Developmentinitiative Inc B, based on financial health (reserves and operating margin).
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Data for Westminster Economic Developmentinitiative Inc (EIN 20-4230463) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.