PLATINUM2023

CENTRAL TERMINAL RESTORATION CORP

BUILDING MOMENTUM TOGETHER

aka Buffalo Central Terminal   |   Buffalo, NY   |  buffalocentralterminal.org
GuideStar Charity Check

CENTRAL TERMINAL RESTORATION CORP

EIN: 16-1536196


Mission

To develop the Buffalo Central Terminal – a majestic historic landmark – as a lasting cultural and economic hub for the community.

Notes from the nonprofit

To view our full Master Plan (2021) please visit: https://buffalocentralterminal.org/our-master-plan/

Ruling year info

1998

Executive Director

Monica Pellegrino Faix

Main address

PO Box 51 495 Paderewski Drive

Buffalo, NY 14212 USA

Show more contact info

EIN

16-1536196

Subject area info

Community and economic development

Historic preservation

History

Public arts

Architecture

Population served info

Adults

Children and youth

Multiracial people

Economically disadvantaged people

Immigrants and migrants

NTEE code info

Arts, Cultural Organizations - Multipurpose (A20)

Museum & Museum Activities (A50)

Historical Societies and Related Activities (A80)

What we aim to solve

This profile needs more info.

If it is your nonprofit, add a problem overview.

Login and update

Our programs

SOURCE: Self-reported by organization

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.

Population(s) Served
Economically disadvantaged people
Ethnic and racial groups

Where we work

Affiliations & memberships

National Trust for Historic Preservation 2021

Our results

SOURCE: Self-reported by organization

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

SOURCE: Self-reported by organization

Learn more about Sustainable Development Goals.

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

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

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.

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.

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

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

done We shared information about our current feedback practices.
  • 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

  • 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

  • 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

CENTRAL TERMINAL RESTORATION CORP
Fiscal year: Jan 01 - Dec 31
Financial documents
2022 CTRC 2022 Audited Finacials 2021 CENTRAL TERMINAL RESTORATION CORP
done  Yes, financials were audited by an independent accountant. info

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2023 info

SOURCE: IRS Form 990

0.06

Average of 6.26 over 10 years

Months of cash in 2023 info

SOURCE: IRS Form 990

16.8

Average of 18.5 over 10 years

Fringe rate in 2023 info

SOURCE: IRS Form 990

19%

Average of 9% over 10 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

CENTRAL TERMINAL RESTORATION CORP

Revenue & expenses

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

CENTRAL TERMINAL RESTORATION CORP

Balance sheet

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

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 ending: cloud_download Download Data

CENTRAL TERMINAL RESTORATION CORP

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

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.

Created in partnership with

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
Form 1023/1024 is not available for this organization

Executive Director

Monica Pellegrino Faix

Number of employees

Source: IRS Form 990

CENTRAL TERMINAL RESTORATION CORP

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation
Other
Related
Show data for fiscal year
Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization

There are no highest paid employees recorded for this organization.

CENTRAL TERMINAL RESTORATION CORP

Board of directors
as of 01/02/2024
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board co-chair

JAMES MORRELL

NFTA

Term: 2024 - 2021


Board co-chair

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

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • 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

SOURCE: Self-reported; last updated 1/2/2024

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
White/Caucasian/European
Gender identity
Female, Not transgender
Disability status
Person without a disability

Race & ethnicity

Gender identity

Transgender Identity

Sexual orientation

Disability

No data

Equity strategies

Last updated: 01/02/2024

GuideStar 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

Data
  • 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.
Policies and processes
  • 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.

Contractors

Fiscal year ending
There are no fundraisers recorded for this organization.