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BUFFALO & ERIE COUNTY REGIONAL DEVELOPMENT CORPORATION
BUFFALO, NY · EIN 222255223 · Form 990 · FY2024 · NTEE S400 · Community Improvement · Small ($100K-$1M)
revenue
$781K
expenses
$520K
net assets
$22.9M
employees
0
volunteers
18
program ratio
82%
mission · from form 990

BUFFALO AND ERIE COUNTY REGIONAL DEVELOPMENT CORPORATION WAS INCORPORATED FOR THE PURPOSE OF ENCOURAGING THE EXPANSION OF EXISTING COMPANIES IN THE TARGET AREAS OF ERIE COUNTY BY ESTABLISHING A REVOLVING LOAN FUND FROM WHICH THE CORPORATION MAKES LOANS TO INDIVIDUAL COMPANIES.

profile · synthesized from sources

BUFFALO & ERIE COUNTY REGIONAL DEVELOPMENT CORPORATION supports economic growth in Erie County, NY by providing loans to existing businesses through a revolving loan fund. The organization focuses on expanding local companies to strengthen the regional economy. It operates as a nonprofit community development finance entity serving Western New York.

named programs · 1 · from sources

What they call their work

Revolving Loan Fund
Provides financing to existing companies in Erie County to support expansion and growth, using a self-replenishing fund structure
activities · 1 group

What they do

  • Local Business Financing and Incentives 1 activity
    • Operating a revolving loan fund for business expansion
      Establishes and manages a revolving loan fund to provide financing to existing companies in Erie County for expansion purposes.
financials · form 990 · fy2024
revenue
Total revenue$781K
Contributions & grants$13K2%
Program service revenue$581K74%
Investment income$187K24%
Other revenue$0
expenses
Total expenses$520K
Program expenses82%
Admin / overhead18%
Fundraising0%
Salaries & benefits$0
Grants paid out$0
Largest expense lineProfessional Fees
balance sheet
Total assets$23.27M
Cash$8.79M
Investments$0
Liabilities$324K
Net assets$22.94M
Liquid reserves202.6 mo
5 years on record · 2020–2024 · YoY revenue -6.2%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 5
NameTitleHours/wkCompensation
JOHN CAPPELLINO PRESIDENT/CEO 1 $251K
MOLLIE PROFIC TREASURER 1 $160K
ELIZABETH O'KEEFE VICE PRESIDENT AND SECRETARY 0 $150K
GRANT LESSWING DIRECTOR OF BUSINESS DEVELOPMENT 1 $145K
GERALD MANHARD CHIEF LENDING OFFICER 36 $123K
board members · 18
  • BRENDA MCDUFFIE — CHAIRWOMAN
  • BRIAN KULPA — DIRECTOR
  • BRIAN NOWAK — DIRECTOR
  • CHRISTOPHER SCANLON — DIRECTOR
  • DENISE ABBOTT — DIRECTOR
  • DOTTIE GALLAGHER — DIRECTOR
  • GLENN NELLIS — DIRECTOR
  • JAMES DOHERTY — DIRECTOR
  • JOHN GILMOUR — DIRECTOR
  • JOSEPH EMMINGER — DIRECTOR
  • KENNETH SCHOETZ — DIRECTOR
  • MARK BLUE — DIRECTOR
  • MARK POLONCARZ — DIRECTOR
  • MICHAEL HUGHES — DIRECTOR
  • PATRICK BOYLE — DIRECTOR
  • RICHARD LIPSITZ — VICE CHAIR
  • THOMAS EMMERLING — DIRECTOR
  • TYRA JOHNSON — DIRECTOR
strategies · 1

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Revolving Loan Fund for Local Business Expansion
    methodology: revolving_loan_fund
    By providing loans to existing local companies and reinvesting repayments, we sustain our lending capacity and grow regional economic impact, because continuous capital circulation amplifies long-term development.