Civic Intelligence

Beverly Gray Business Exchange Center Inc.

EIN 85-3125463 • 501(c)3 • Buffalo, NY

Pub. 78 EligibleNTEE S41

View Organization Page

Profile

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.

334 E Utica StreetBuffalo, NY 14208

www.theexchangeatbeverlygray.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

94th percentile

0.78x

Higher debt load relative to assets than 94% of similar nonprofits.

NTEE S41 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

96th percentile

1.21x

Higher debt load relative to revenue than 96% of similar nonprofits.

NTEE S41 • $500k-$1M nonprofits • Source year 2024

Net Margin

17th percentile

-11%

Higher net margin than 17% of similar nonprofits.

NTEE S41 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

70th percentile

$96,003

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 16.0% of source-year revenue.

NTEE S41 • $500k-$1M nonprofits • Source year 2024

Asset Growth

95th percentile

124%

Faster asset growth than 95% of similar nonprofits.

NTEE S41 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

61st percentile

8.3%

Faster revenue growth than 61% of similar nonprofits.

NTEE S41 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$934,831

Up $517,010 (+124%) from 2023

Liabilities

Up

$727,868

Up $585,840 (+412%) from 2023

Net Assets

Down

$206,963

Down $68,830 (-25%) from 2023

Operations
Liabilities / Revenue96th percentileNet Margin17th percentile

Revenue

Up

$599,926

Up $46,164 (+8.3%) from 2023

Expenses

Up

$668,756

Up $174,318 (+35%) from 2023

Net Income

Down

-$68,830

Down $128,154 (-216%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth95th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.0M$500K$0Assets 2022: $308,169Liabilities 2022: $91,700Net Assets 2022: $216,4692022Assets 2023: $417,821Liabilities 2023: $142,028Net Assets 2023: $275,7932023Assets 2024: $934,831Liabilities 2024: $727,868Net Assets 2024: $206,9632024

Highlighted filing

2024

Assets$934,831
Liabilities$727,868
Net Assets$206,963
Open 2024 Filing

Operations Trend

Revenue Growth61st percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$800K$600K$400K$200K$0-$200KRevenue 2022: $463,121Expenses 2022: $246,652Net Income 2022: $216,4692022Revenue 2023: $553,762Expenses 2023: $494,438Net Income 2023: $59,3242023Revenue 2024: $599,926Expenses 2024: $668,756Net Income 2024: -$68,8302024

Highlighted filing

2024

Revenue$599,926
Expenses$668,756
Net Income-$68,830
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$934,831
Liabilities
$727,868
Net assets
$206,963
Revenue
$599,926
Expenses
$668,756
Net income
-$68,830
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$9.35$7.28$2.07$6.00$6.69$0.69
2023Detailed filing. Detailed filing data is available for this year.$4.18$1.42$2.76$5.54$4.94$0.59
2022Detailed filing. Detailed filing data is available for this year.$3.08$0.92$2.16$4.63$2.47$2.16
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 13, 2025
Return Version
2023v6.0
Gross Receipts
$599,926
Mission and Program Overview

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.

Entrepreneur service organization serving the underrepresented in buffalo, ny.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$117,081$634,756▲ $517,675
Pledges and Grants Receivable$300,000$300,075▲ $75
Accounts Receivable$740--
Total Assets$417,821$934,831▲ $517,010
Liabilities
Deferred Revenue$65,000$600,304▲ $535,304
Accounts Payable and Accrued Expenses$77,028$127,564▲ $50,536
Total Liabilities$142,028$727,868▲ $585,840
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$260,793$176,963▼ $83,830
Net Assets With Donor Restrictions$15,000$30,000▲ $15,000
Total Net Assets Fund Balance$275,793$206,963▼ $68,830
Total Liabilities and Net Assets / Fund Balance$417,821$934,831▲ $517,010
Compensation and Service Providers
Top Officer Pay70th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Derrick ParsonExecutive DirectorFT$92,839$3,164$96,003

Board Members and Trustees

NameTitle
Lisa HicksChair
Darren SaxonDirector
Hollis Deabreu DavisDirector
Kimberly LavareDirector
Matt DavisonDirector
Shana RichardsonDirector
Thomas MurdockDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$567,613
Program Service Revenue
$28,993
Investment Income
$3,320
Other Revenue
$0
All Other Contributions
$267,613
Change in Net Assets
$-68,830
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$350,024
Salaries, Compensation, and Employee Benefits$318,732
Total Fundraising Expense$79,711
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$134,315$25,184$8,395$167,894
Other Salaries and Wages$100,869$53,235-$154,104
Current Officers, Directors, Trustees, and Key Employees$53,392$20,408$62,256$136,056
Office Expenses$7,333$38,055-$45,388
Other Expenses$42,927$970-$43,897
Advertising$35,873$2,178$5,025$43,076
Fees for Services Other$12,845$20,564-$33,409
Payroll Taxes$12,400$6,635$4,035$23,070
Insurance-$8,714-$8,714
Conferences and Meetings$762$6,884-$7,646
Other Employee Benefits$4,397$1,105-$5,502
Total Functional Expenses$405,113$183,932$79,711$668,756
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The executive director reviews the 990 and provides a copy to the board of directors prior to filing.”

Form 990, Part VI, Section B, Line 12

“The exchange maintains a conflict of interest policy as described in their by-laws; conflicts must be disclosed to the board of directors at the time a conflict is determined. The exchange is currently establishing a conflict of interest disclosure document to be completed by all board members and key employees annually.”

Form 990, Part VI, Section B, Line 15

“The exectuive director's compenstation was determined and approved by the board of directors.”

Form 990, Part VI, Section C, Line 19

“These documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Beverly Gray Business Exchange
EIN
85-3125463
Phone
7168002170
Address
334 E UTICA STREET, BUFFALO, NY 14208

Signing Officer

Name
Derrick Parson
Title
Executive Director
Phone
7168002170
Signed
2025-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Derrick Parson
Formed
2021
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
7
Employees
4
Volunteers
10

Preparer

Firm
Lumsden & Mccormick Llp
Address
369 FRANKLIN STREET, BUFFALO, NY 14202
Preparer
Robert S Torella
Phone
7168563300
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2

“The process has not changed from the prior year.”

Raw XML Appendix366 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0THE 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.
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IRS990/Form990PartVIISectionAGrp/PersonNm6MATT DAVISON
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IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
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IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE EXECUTIVE DIRECTOR REVIEWS THE 990 AND PROVIDES A COPY TO THE BOARD OF DIRECTORS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE EXCHANGE MAINTAINS A CONFLICT OF INTEREST POLICY AS DESCRIBED IN THEIR BY-LAWS; CONFLICTS MUST BE DISCLOSED TO THE BOARD OF DIRECTORS AT THE TIME A CONFLICT IS DETERMINED. THE EXCHANGE IS CURRENTLY ESTABLISHING A CONFLICT OF INTEREST DISCLOSURE DOCUMENT TO BE COMPLETED BY ALL BOARD MEMBERS AND KEY EMPLOYEES ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECTUIVE DIRECTOR'S COMPENSTATION WAS DETERMINED AND APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THESE DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0417821
IRS990/TotalAssetsEOYAmt0934831
IRS990/TotalAssetsGrp/BOYAmt0417821
IRS990/TotalAssetsGrp/EOYAmt0934831
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0567613
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt079711
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0183932
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0405113
IRS990/TotalFunctionalExpensesGrp/TotalAmt0668756
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0142028
IRS990/TotalLiabilitiesEOYAmt0727868
IRS990/TotalLiabilitiesGrp/BOYAmt0142028
IRS990/TotalLiabilitiesGrp/EOYAmt0727868
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0275793
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0206963
IRS990/TotalOtherCompensationAmt03164
IRS990/TotalProgramServiceExpensesAmt0405113
IRS990/TotalProgramServiceRevenueAmt028993
IRS990/TotalReportableCompFromOrgAmt092839
IRS990/TotalRevenueGrp/ExclusionAmt03320
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt028993
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0599926
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0417821
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0934831
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0334 E UTICA STREET
IRS990/USAddress/CityNm0BUFFALO
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd014208
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.THEEXCHANGEATBEVERLYGRAY.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DERRICK PARSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07168002170
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BEVERLY GRAY BUSINESS EXCHANGE
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CENTER INC
ReturnHeader/Filer/BusinessNameControlTxt0BEVE
ReturnHeader/Filer/EIN0853125463
ReturnHeader/Filer/PhoneNum07168002170
ReturnHeader/Filer/USAddress/AddressLine1Txt0334 E UTICA STREET
ReturnHeader/Filer/USAddress/CityNm0BUFFALO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd014208
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0160765486
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LUMSDEN & MCCORMICK LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0369 FRANKLIN STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BUFFALO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd014202
ReturnHeader/PreparerPersonGrp/PhoneNum07168563300
ReturnHeader/PreparerPersonGrp/PreparationDt02025-05-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROBERT S TORELLA
ReturnHeader/ReturnTs02025-05-15T10:51:39-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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