irs program accomplishments · form 990 part iii · fy2020
What they reported doing
- #1 primary $20.19MBACK TO BUSINESS GRANT PROGRAM
named programs · 2 · from sources
What they call their work
43North Global Business Plan Competition
Annual competition that selects five startups to receive $1 million investments, mentorship, free workspace, and support to relocate and grow in Buffalo, NY.
Back to Business Grant Program
Grant initiative providing financial support to startups participating in the 43North accelerator, with $19.2 million in grants awarded in 2020.
activities · 4 groups
What they do
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Startup Acceleration & Business Growth Support 3 activities
- Operates a startup accelerator program to establish Buffalo as a national startup hubHas operated for over a decade to grow Buffalo's startup ecosystem by providing funding, workspace, and support services, contributing to job creation and follow-on capital raising across 64 portfolio companies.
- Provides capacity building and support services to portfolio companiesProvides mentorship, recruiting and marketing support, and facilitates connections with venture capitalists and angel investors for startups in its accelerator program through dedicated staff and expert networks.
- Provides free workspace for accelerator participantsOffers free workspace at Seneca One Tower in downtown Buffalo to startups selected for its accelerator program.
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Organizational Newsletter Production and Distribution 1 activity
- Distributes a newsletter to share program updatesShares updates about 43North, portfolio companies, events, and announcements through a regular newsletter distribution.
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Women Entrepreneurs Grant Programs 1 activity
- Funds seed-stage startups through an annual accelerator programAwards $1 million in investment to five selected startups annually through an immersive accelerator program, in exchange for 5% equity, as part of a $5 million annual investment to grow Buffalo's startup ecosystem.
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Documentary Film Production 1 activity
- Produces media content to promote regional innovationProduced and presented an hour-long documentary, "For the Love of Buffalo," highlighting founders, talent, and innovation within Buffalo's growing private companies and entrepreneurial ecosystem.
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financials · form 990 · fy2024
revenue
Total revenue$9.81M
Contributions & grants$9.69M99%
Program service revenue$00%
Investment income$00%
Other revenue$111K
expenses
Total expenses$10.03M
Program expenses92%
Admin / overhead8%
Fundraising0%
Salaries & benefits$1.66M
Grants paid out$5.57M
Largest expense lineCompensation
balance sheet
Total assets$10.88M
Cash$236K
Investments$4.62M
Liabilities$5.21M
Net assets$5.67M
Liquid reserves5.8 mo
4 years on record · 2020–2024 · YoY revenue +10.9%
leadership · form 990 part vii · fy2024
Who runs it
paid leadership · 4
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| COLLEEN HEIDINGER | PRESIDENT | 40 | $245K |
| DOMINIC COSTANZO | VICE PRESIDENT | 40 | $172K |
| CHRISTIAN KARRER | MANAGER | 40 | $138K |
| CHRISTIAN GADDIS | MANAGER | 40 | $113K |
board members · 7
- BILL MAGGIO — DIRECTOR
- CLETIS EARLE — DIRECTOR
- ERIC REICH — DIRECTOR
- JORDY LEVY — DIRECTOR
- MIKE WISLER — IMMEDIATE PAST CHAIR
- NORMA NOWAK — TREASURER
- PETE GRUM — BOARD CHAIR
relationships · 22
Who they work with
- ACV Auctions Partner — Portfolio company supported through investment and accelerator program, which went public in 2021.
- ACV Auctions Partner — Portfolio company that completed an IPO in 2021 after participating in the 43North accelerator program.
- Aleron Partner — Programmatic sponsor of 43North
- Buffalo Network — Primary geographic focus for 43North's startup acceleration and community development efforts.
- Buffalo/ Niagara Region Partner — Collaborates with the Buffalo/Niagara region to promote the area as an entrepreneurial hub.
- Circuit Clinical Partner — Portfolio company that closed a $29M Series C financing.
- Circuit Clinical Partner — Portfolio company that raised $29 million in Series C funding after joining the 43North accelerator.
- Empire State Development Government — State agency that has supported 43North as part of a broader economic development initiative.
- Empire State Development Partner — Programmatic sponsor of 43North
- Governor's office Government — Office of the Governor of New York, involved in backing 43North as part of regional economic development efforts.
- GrowthX Partner — Engages leadership (Andrew Goldner) in podcast conversations on startup sales strategy.
- Inc. Magazine Partner — Featured in Inc. Magazine as a recognized accelerator program.
- KeyBank Partner — Quality of life program supporter for 43North
- M&T Bank Partner — Programmatic sponsor of 43North
- New York Power Authority Partner — Foundational supporter of 43North
- Ralph C. Wilson Jr Foundation Partner — Co-presented the world premiere television event of the documentary "For the Love of Buffalo".
- Ralph C. Wilson, Jr. Foundation Partner — Foundational supporter of 43North
- Seneca One Tower Partner — Hosts 43North's headquarters and provides workspace for portfolio companies in downtown Buffalo.
- Spacestation Investments Partner — Collaborates through podcast discussions on founder investment and non-traditional markets.
- Squire Partner — Portfolio company that tripled its valuation to $750 million in 2021 following participation in the 43North program.
- Squire Partner — Portfolio company that tripled its valuation to $750M in 2021.
- Top Seedz Partner — Portfolio company that expanded its manufacturing footprint in downtown Buffalo following support from 43North.
strategies · 3
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.
- Business Plan Competition as Talent Magnetmethodology: business-plan-competitionBy hosting a high-stakes global business plan competition, we attract high-potential startups to relocate to Western New York because significant prize funding and visibility incentivize entrepreneurial talent to embed in emerging ecosystems they might otherwise overlook.
- Immersive Accelerator Model with Comprehensive Supportmethodology: full-service startup accelerationBy combining substantial financial investment with intensive, full-service programming—including workspace, mentorship, network access, and operational support—we accelerate startup growth and success because integrated resources reduce time-to-market and increase survival rates for seed-stage companies.
- Network-Driven Ecosystem Growthmethodology: network-driven accelerationBy leveraging deep local business networks and strategic investor connections, we catalyze long-term regional startup ecosystem development because facilitating high-value partnerships, follow-on funding, and mentorship embeds innovation within the local economy and sustains post-accelerator growth.