CENTRAL TERMINAL RESTORATION CORP
BUILDING MOMENTUM TOGETHER
CENTRAL TERMINAL RESTORATION CORP
EIN: 16-1536196
as of October 2024
as of October 15, 2024
Programs and results
Reports and documents
Download annual reports Download other documentsWhat we aim to solve
Our programs
What are the organization's current programs, how do they measure success, and who do the programs serve?
Community-driven Revitalization of the Buffalo Central Terminal
In 2020 we undertook a year-long, community engagement process to develop the Master Plan, the most in-depth framework for the future of the Buffalo Central Temrinal ever created. The Master Plan is the first step of many on a path to realizing the audacious inspirations for a fully reimagined Buffalo Central Terminal—a vibrant hub reborn in the heart of an already vital community.
In the fall of 2021 a Request for Expression of Interest (RFEI) was release to solicit development partner(s) for the reuse of the Buffalo Central Terminal. In early 2023 the CTRC will release a Request for Proposals (RFP) to make a final selection of private development partner(s).
In the summer of 2022, the Buffalo Central Terminal received $61M in public and philanthropic funding to kick start implementation of the Master Plan. This funding will be used to stabilize the building and begin activation of the Great Lawn.
Where we work
Affiliations & memberships
National Trust for Historic Preservation 2021
Photos
Videos
Our results
How does this organization measure their results? It's a hard question but an important one.
Number of convenings hosted by the organization
This metric is no longer tracked.Totals By Year
Related Program
Community-driven Revitalization of the Buffalo Central Terminal
Type of Metric
Context - describing the issue we work on
Direction of Success
Holding steady
Context Notes
Meetings of the Community Advisory Council and public workshops/meetings held relating to the reuse and rehabilitation of the Buffalo Central Terminal.
Number of community initiatives in which the organization participates
This metric is no longer tracked.Totals By Year
Related Program
Community-driven Revitalization of the Buffalo Central Terminal
Type of Metric
Output - describing our activities and reach
Direction of Success
Increasing
Context Notes
Community Events and Civic Experiences held at the Buffalo Central Terminal.
Number of new donors
This metric is no longer tracked.Totals By Year
Related Program
Community-driven Revitalization of the Buffalo Central Terminal
Type of Metric
Input - describing resources we use
Direction of Success
Increasing
Context Notes
Number of first-time donors and recaptured donors combined. New donor software was obtained in 2020 - making data from 2019 and prior unavailable.
Number of first-time donors
This metric is no longer tracked.Totals By Year
Related Program
Community-driven Revitalization of the Buffalo Central Terminal
Type of Metric
Input - describing resources we use
Direction of Success
Increasing
Context Notes
New donor software was obtained in 2020 - making data from 2019 and prior unavailable.
Our Sustainable Development Goals
Learn more about Sustainable Development Goals.
Goals & Strategy
Reports and documents
Download strategic planLearn about the organization's key goals, strategies, capabilities, and progress.
Charting impact
Four powerful questions that require reflection about what really matters - results.
What is the organization aiming to accomplish?
Our priorities:
- Stabilize, adapt, and sustainably reuse the Terminal and grounds
- Re-establish the Terminal as a hub of activity – a beacon and a destination that attracts people and investment
- Celebrate and foster community voice and connections that shape broader revitalization efforts
- Contribute to the strong future of the city and region
What are the organization's key strategies for making this happen?
Our holistic strategy for reuse:
- Create an ENGAGING CIVIC COMMONS as a year-round venue of events and activities centered around the Passenger Concourse – and a public plaza and adjacent grounds.
- Create WELCOMING OPEN SPACES with activated grounds and year-round use, recreational activities and events, to drive interest and support future building uses.
- Leverage a DYNAMIC MIX OF USES - Cultural Center, Nonprofit Anchor, Innovation Hub, Housing, Film Industry - so that early phases will support a range of complementary creative, entrepreneurial and civic enterprises.
- Support COMMUNITY QUALITY OF LIFE by tying our future to Broadway Fillmore and being an important part of racial and social equity through the Terminal’s reuse.
- Utilize SUSTAINABLE SYSTEMS AND PRACTICES while respecting the historic identity of the building and grounds.
What are the organization's capabilities for doing this?
The Buffalo Central Terminal is a living landmark, ready to become a new kind of connective force. The Central Terminal Restoration Corporation emerges as the organizational engine, changing the doubt of “this will never happen” to the firm belief that “this is already happening.”
In 2019 the CTRC received significant investment from the State of New York through Empire State Development and its East Side Avenues program that aims to reinvigorate key corridors throughout East Buffalo. This funding not only ignited momentum behind the revitalization of the Buffalo Central Terminal, but it also invested in organizational capacity building necessary to see these efforts through.
What have they accomplished so far and what's next?
Our progress:
- Received capital and capacity support (both public and philanthropic dollars) through the East Side Avenues initiative (2019).
- Hired an Executive Director (2019).
- Began a $5M+ capital repair project in the Main Terminal Building.
- Completed the year-long process to develop the community-driven Master Plan (2020 - 2021).
- Launched outdoor community events and activities after a long pause during the covid-19 pandemic (2021).
- Hired the Associate Director (2021).
- Issued a Request for Expression of Interest (RFEI) to solicit development partner(s) (2022).
- Received $61M in capital and capacity support (both public and philanthropic dollars) through the Regional Revitalization Partnership.
- Launched Seat at the Table, a new community gathering space on the Terminal Great Lawn leveraging a Community Placemaking Grant from Project for Public Spaces (2022).
- Received $1M through the Broadway-Fillmore Downtown Revitalization Initiative to activate the Great Lawn (2022).
- Issued Request for Proposals for next phase of capital improvements (2022)
Our next steps:
- Select Developer(s) through a two stage process, starting with a Request for Expression of Interest (RFEI) that was issued in August, 2022 and then a Request for Proposal (RFP) that will be issued to selected teams.
- Activate the Great Lawn with events and activities.
- Utilize funding to stabilize the Central Terminal and start the Civic Commons, by reopening the Concourse and making the outside spaces safe and useable.
How we listen
Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.
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How is your organization using feedback from the people you serve?
To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To identify where we are less inclusive or equitable across demographic groups, To strengthen relationships with the people we serve, To understand people's needs and how we can help them achieve their goals
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Which of the following feedback practices does your organization routinely carry out?
We collect feedback from the people we serve at least annually, We take steps to get feedback from marginalized or under-represented people, We aim to collect feedback from as many people we serve as possible, We take steps to ensure people feel comfortable being honest with us, We look for patterns in feedback based on demographics (e.g., race, age, gender, etc.), We look for patterns in feedback based on people’s interactions with us (e.g., site, frequency of service, etc.), We engage the people who provide feedback in looking for ways we can improve in response, We act on the feedback we receive, We share the feedback we received with the people we serve, We tell the people who gave us feedback how we acted on their feedback
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What challenges does the organization face when collecting feedback?
It is difficult to get the people we serve to respond to requests for feedback, The people we serve tell us they find data collection burdensome
Financials
Financial documents
Download audited financialsRevenue vs. expenses: breakdown
Liquidity in 2023 info
0.06
Months of cash in 2023 info
16.8
Fringe rate in 2023 info
19%
Funding sources info
Assets & liabilities info
Financial data
CENTRAL TERMINAL RESTORATION CORP
Revenue & expensesFiscal Year: Jan 01 - Dec 31
CENTRAL TERMINAL RESTORATION CORP
Balance sheetFiscal Year: Jan 01 - Dec 31
The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.
Fiscal Year: Jan 01 - Dec 31
This snapshot of CENTRAL TERMINAL RESTORATION CORP’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.
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Business model indicators
Profitability info | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|
Unrestricted surplus (deficit) before depreciation | $372,174 | $1,426,462 | $3,584,792 | $415,469 | $1,284,077 |
As % of expenses | 447.9% | 693.5% | 1312.9% | 110.3% | 272.6% |
Unrestricted surplus (deficit) after depreciation | $372,174 | $1,426,462 | $3,584,792 | $415,469 | $1,284,077 |
As % of expenses | 447.9% | 693.5% | 1312.9% | 110.3% | 272.6% |
Revenue composition info | |||||
---|---|---|---|---|---|
Total revenue (unrestricted & restricted) | $455,271 | $1,632,143 | $3,857,835 | $792,090 | $1,755,116 |
Total revenue, % change over prior year | 148.6% | 258.5% | 136.4% | -79.5% | 121.6% |
Program services revenue | 11.6% | 0.7% | 0.0% | 0.0% | 2.4% |
Membership dues | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Investment income | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Government grants | 71.0% | 89.1% | 85.6% | 56.1% | 73.3% |
All other grants and contributions | 13.8% | 10.2% | 14.4% | 43.9% | 24.2% |
Other revenue | 3.6% | 0.0% | 0.0% | 0.0% | 0.0% |
Expense composition info | |||||
---|---|---|---|---|---|
Total expenses before depreciation | $83,098 | $205,681 | $273,043 | $376,621 | $471,039 |
Total expenses, % change over prior year | 104.7% | 147.5% | 32.8% | 37.9% | 25.1% |
Personnel | 45.3% | 65.7% | 52.7% | 58.1% | 51.6% |
Professional fees | 4.2% | 4.0% | 5.7% | 4.6% | 4.7% |
Occupancy | 0.0% | 4.0% | 12.4% | 8.1% | 6.2% |
Interest | 0.0% | 0.0% | 0.0% | 0.0% | 1.3% |
Pass-through | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
All other expenses | 50.6% | 26.2% | 29.2% | 29.1% | 36.3% |
Full cost components (estimated) info | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|
Total expenses (after depreciation) | $83,098 | $205,681 | $273,043 | $376,621 | $471,039 |
One month of savings | $6,925 | $17,140 | $22,754 | $31,385 | $39,253 |
Debt principal payment | $0 | $0 | $0 | $235,608 | $0 |
Fixed asset additions | $216,165 | $11,550,966 | $2,627,286 | $450,459 | $1,278,143 |
Total full costs (estimated) | $306,188 | $11,773,787 | $2,923,083 | $1,094,073 | $1,788,435 |
Capital structure indicators
Liquidity info | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|
Months of cash | 29.9 | 9.9 | 6.4 | 8.5 | 16.8 |
Months of cash and investments | 29.9 | 9.9 | 6.4 | 8.5 | 16.8 |
Months of estimated liquid unrestricted net assets | 10.4 | -586.5 | -399.7 | -290.9 | -224.4 |
Balance sheet composition info | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|
Cash | $206,802 | $170,517 | $144,696 | $265,577 | $659,713 |
Investments | $0 | $0 | $0 | $0 | $0 |
Receivables | $152,895 | $1,163,692 | $2,310,891 | $187,155 | $617,753 |
Gross land, buildings, equipment (LBE) | $1,951,924 | $13,502,890 | $16,130,176 | $16,580,635 | $17,858,778 |
Accumulated depreciation (as a % of LBE) | 1.3% | 0.2% | 0.2% | 0.2% | 0.1% |
Liabilities (as a % of assets) | 12.7% | 76.9% | 62.2% | 56.4% | 54.5% |
Unrestricted net assets | $1,998,305 | $3,424,766 | $7,009,558 | $7,425,027 | $8,709,104 |
Temporarily restricted net assets | N/A | N/A | N/A | N/A | N/A |
Permanently restricted net assets | N/A | N/A | N/A | N/A | N/A |
Total restricted net assets | $0 | $0 | $0 | $0 | $0 |
Total net assets | $1,998,305 | $3,424,766 | $7,009,558 | $7,425,027 | $8,709,104 |
Key data checks
Key data checks info | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|
Material data errors | No | No | No | No | No |
Operations
The people, governance practices, and partners that make the organization tick.
Documents
Executive Director
Monica Pellegrino Faix
Number of employees
Source: IRS Form 990
CENTRAL TERMINAL RESTORATION CORP
Officers, directors, trustees, and key employeesSOURCE: IRS Form 990
Compensation data
There are no highest paid employees recorded for this organization.
CENTRAL TERMINAL RESTORATION CORP
Board of directorsas of 01/02/2024
Board of directors data
JAMES MORRELL
NFTA
Term: 2024 - 2021
ANNIE O'NEIL-WHITE
M&T BANK
Term: 2021 - 2024
THOMAS KUCHARSKI
INVEST BUFFALO NIAGARA
JOHN JILOTY
THE MARTIN GROUP
THOMAS BEAUFORD JR.
THE URBAN LEAGUE
ANGELA KLEIN
CATHOLIC MEDICAL PARTNERS
GUSTAVO A. LIMA, AIA
GUSTAVO A. LIMA ARCHITECTURE
MICHAEL NISENGARD
LIPPES MATHIUS LLP
CARL SKOMPINSKI
FILLMORE FORWARD
THOMAS BEAUFORD, JR.
BUFFALO URBAN LEAGUE
PAUL V. HARRIS, PMP
BUFFALO SEWER AUTHORITY
KIMBERLEY LAVARE, PMP
Managing Director CLEMENTINE GOLD GROUP
RISHAWN T. SONUBI, AIA
YOUNG + WRIGHT
CHRISTINA P. ORSI
THE JOHN R. OISHEI FOUNDATION
Board leadership practices
GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.
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Board orientation and education
Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes -
CEO oversight
Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes -
Ethics and transparency
Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes -
Board composition
Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes -
Board performance
Has the board conducted a formal, written self-assessment of its performance within the past three years? Yes
Organizational demographics
Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.
Leadership
The organization's leader identifies as:
Race & ethnicity
Gender identity
Transgender Identity
Sexual orientation
Disability
No data
Equity strategies
Last updated: 01/02/2024GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more
- We review compensation data across the organization (and by staff levels) to identify disparities by race.
- We ask team members to identify racial disparities in their programs and / or portfolios.
- We analyze disaggregated data and root causes of race disparities that impact the organization's programs, portfolios, and the populations served.
- We disaggregate data to adjust programming goals to keep pace with changing needs of the communities we support.
- We employ non-traditional ways of gathering feedback on programs and trainings, which may include interviews, roundtables, and external reviews with/by community stakeholders.
- We disaggregate data by demographics, including race, in every policy and program measured.
- We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.
- We use a vetting process to identify vendors and partners that share our commitment to race equity.
- We have a promotion process that anticipates and mitigates implicit and explicit biases about people of color serving in leadership positions.
- We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
- We have community representation at the board level, either on the board itself or through a community advisory board.
- We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.
- We measure and then disaggregate job satisfaction and retention data by race, function, level, and/or team.
- We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.