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Nonprofit · EIN 85-3125463

BEVERLY GRAY BUSINESS EXCHANGE CENTER INC

Tax-exempt · BUFFALO, NY 14208

Financials

$554K$494K2022$600K$669K2023$1M$1.2M2024
Revenue Expenses · by fiscal year end
Financials of BEVERLY GRAY BUSINESS EXCHANGE CENTER INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$1,026,272$1,157,596-$131,324$928,665$804,894$123,771
June 30, 2024990$599,926$668,756-$68,830$934,831$727,868$206,963
June 30, 2023990$553,762$494,438$59,324$417,821$142,028$275,793
Financial details: 990 for the year ended June 30, 2025

Revenue

Contributions, gifts and grants
$984,227
of which government grants
$200,000
Program service revenue
$29,838
Investment income
$12,207
Other revenue
$0

Expenses

Grants and similar amounts paid
$100,581
Compensation of officers, directors and key employees
$144,356
Other salaries and wages
$182,688
Salaries, compensation and benefits (total)
$371,515
Professional fundraising fees
$0
Occupancy
$173,693
Program services (functional)
$854,857
Management and general (functional)
$207,383
Fundraising (functional)
$95,356

Balance sheet and other

Total assets, start of year
$934,831
Total assets, end of year
$928,665
Total liabilities, end of year
$804,894
Net assets, end of year
$123,771
Net assets without donor restrictions
$73,771
Net assets with donor restrictions
$50,000
Gross receipts
$1,026,272
Employees
4
Volunteers
13
Year formed
2021
State of legal domicile
NY

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended June 30, 2025, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
DERRICK PARSONEXECUTIVE DIRECTOR
Officer
40$92,839$6,765
LISA HICKSCHAIR
Trustee or director, Officer
1$0$0
THOMAS BAINESDIRECTOR
Trustee or director
1$0$0
MATT DAVISONDIRECTOR
Trustee or director
1$0$0
KIMBERLY LAVAREDIRECTOR
Trustee or director
1$0$0
THOMAS MURDOCKDIRECTOR
Trustee or director
1$0$0
SHANA RICHARDSONDIRECTOR
Trustee or director
1$0$0
DAVID RUSTDIRECTOR
Trustee or director
1$0$0
DARREN SAXONDIRECTOR
Trustee or director
1$0$0
990 for the year ended June 30, 2024: 8 people
NameTitleHours / weekCompensationOther / benefits
DERRICK PARSONEXECUTIVE DIRECTOR
Officer
40$92,839$3,164
LISA HICKSCHAIR
Trustee or director, Officer
1$0$0
HOLLIS DEABREU DAVISDIRECTOR
Trustee or director
1$0$0
DARREN SAXONDIRECTOR
Trustee or director
1$0$0
KIMBERLY LAVAREDIRECTOR
Trustee or director
1$0$0
THOMAS MURDOCKDIRECTOR
Trustee or director
1$0$0
MATT DAVISONDIRECTOR
Trustee or director
1$0$0
SHANA RICHARDSONDIRECTOR
Trustee or director
1$0$0
990 for the year ended June 30, 2023: 8 people
NameTitleHours / weekCompensationOther / benefits
DERRICK PARSONEXECUTIVE DIRECTOR
Officer
40$97,529$897
CHANTELE THOMPSONCHAIR
Trustee or director, Officer
1$0$0
HOLLIS DEABREU DAVISCO-CHAIR
Trustee or director, Officer
1$0$0
MATT DAVISONDIRECTOR
Trustee or director
1$0$0
LISA HICKSDIRECTOR
Trustee or director
1$0$0
KIMBERLY LAVAREDIRECTOR
Trustee or director
1$0$0
BRENDAN MEHAFFYDIRECTOR
Trustee or director
1$0$0
THOMAS MURDOCKDIRECTOR
Trustee or director
1$0$0

Address and contacts

Address (IRS master file)
334 E UTICA ST, BUFFALO, NY 14208-2129
Principal officer (990 for 2024)
DERRICK PARSON, 334 E UTICA STREET, BUFFALO, NY 14208
Signed the 990
DERRICK PARSON, EXECUTIVE DIRECTOR
Phone
(716) 800-2170
Return prepared by
LUMSDEN & MCCORMICK LLP

Mission

BY SERVING THE UNDERREPRESENTED AND BIPOC ENTREPRENEURIAL COMMUNITY IN BUFFALO, NY., WE AIM TO BE A CONDUIT FOR BUSINESS DEVELOPMENT AND GROWTH FOR NEW AND EXISTING ENTREPRENEURS. WE BELIEVE THAT THROUGH EQUITY, INCLUSION, AND INNOVATION, WE CAN INCREASE THE SUCCESS RATE OF MINORITY ENTREPRENEURS FROM HIGH POTENTIAL TO HIGH GROWTH.

990 for the year ended June 30, 2025

Program accomplishments

  • THE EXCHANGE AT BEVERLY GRAY BEGAN DEVELOPMENT OF ITS OPERATIONS IN FISCAL 2022 TO ESTABLISH A PREMIER ENTREPRENEUR SERVICE ORGANIZATION SPECIFICALLY SERVING THE UNDERREPRESENTED AND BIPOC ENTREPRENEURIAL COMMUNITY IN BUFFALO, NY. THE EXCHANGE AIMS TO BE A CONDUIT FOR BUSINESS DEVELOPMENT AND GROWTH FOR NEW AND EXISTING ENTREPRENEURS, CREATING A PATHWAY TO ATTAINING GENERATIONAL WEALTH WHILE BUILDING THE LOCAL COMMUNITY.
    Expenses $854,857 · grants $100,581 · revenue $29,838

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025990 on file
2023June 30, 2024November 15, 2024990 on file

IRS record

EIN
85-3125463
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2021
Accounting year ends
June
Files
Form 990 or 990-EZ
Assets (IRS master file)
$928,665
Income (IRS master file)
$1,026,272

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2025$1,026,272$1,157,596$928,665IRS
990June 2024$599,926$668,756$934,831IRS
990June 2023$553,762$494,438$417,821XML
990June 2022$463,121$246,652$308,169IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 85-3125463).

Questions about BEVERLY GRAY BUSINESS EXCHANGE CENTER INC

What is the EIN of BEVERLY GRAY BUSINESS EXCHANGE CENTER INC?
The employer identification number (EIN) of BEVERLY GRAY BUSINESS EXCHANGE CENTER INC is 85-3125463.
Is BEVERLY GRAY BUSINESS EXCHANGE CENTER INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2021.
Are donations to BEVERLY GRAY BUSINESS EXCHANGE CENTER INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does BEVERLY GRAY BUSINESS EXCHANGE CENTER INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of BEVERLY GRAY BUSINESS EXCHANGE CENTER INC due?
The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did BEVERLY GRAY BUSINESS EXCHANGE CENTER INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended June 2025.
Who is the principal officer of BEVERLY GRAY BUSINESS EXCHANGE CENTER INC?
The 990 for the year ended June 30, 2025 names DERRICK PARSON.
Who are the officers and directors of BEVERLY GRAY BUSINESS EXCHANGE CENTER INC?
The 990 for the year ended June 30, 2025 lists 9 people; 1 received compensation from the organization, the highest $92,839 (DERRICK PARSON, EXECUTIVE DIRECTOR).
How much revenue does BEVERLY GRAY BUSINESS EXCHANGE CENTER INC have?
On its 990 for the year ended June 30, 2025 it reported revenue of $1,026,272, expenses of $1,157,596 and total assets of $928,665 at year end.

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