Greater Rochester Enterprise Inc
- Assets
- $543.1k
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 10
- Location
- Rochester, NY
- Founding
- 07/2002
- Data as of
- 12/2021
- EIN
- 10-0000080
Organization Overview
Greater Rochester Enterprise Inc is located in Rochester, NY. The organization was established in 2002. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Greater Rochester Enterprise Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Rochester Enterprise Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Greater Rochester Enterprise Inc generated $1.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $1.6m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENCOURAGE THE EXPANSION OF EXISTING BUSINESS AND INDUSTRY, AS WELL AS ATTRACTING NEW BUSINESS AND INDUSTRY TO THE NINE-COUNTY GREATER ROCHESTER, NEW YORK AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT OF ECONOMIC DEVELOPMENT IN THE NINE-COUNTY ROCHESTER, NY REGION THROUGH A COLLABORATIVE AND PROFESSIONAL MARKETING EFFORT OF THE PUBLIC AND PRIVATE SECTORS. GRE SERVES AS A MARKETING RESOURCE TO ENCOURAGE THE EXPANSION OF EXISTING BUSINESS AND INDUSTRY, AS WELL AS ATTRACTING NEW BUSINESS AND INDUSTRY TO THE ROCHESTER, NY REGION. GRE ALSO WORKS TO EXPAND CAPITAL INVESTMENT IN THE REGION. IT IS GRE'S INTENT THAT BY ENCOURAGING ECONOMIC DEVELOPMENT, UNEMPLOYMENT AND UNDER-EMPLOYMENT IN THE REGION WILL BE RELIEVED AND REDUCED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Hurlbutt President & CEO | OfficerTrustee | 16 | $319,336 |
Staci Henning Executive VP And Chief Mar | 39 | $176,323 | |
Leah George Vanscott Vp, Business Development | 39 | $145,095 | |
David M Grome Managing Director, Business Development | 39 | $106,922 | |
David Dworkin Chair | OfficerTrustee | 1 | $0 |
Lori Green Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $50,000 |
| Fundraising events | $0 |
| Related organizations | $1,159,976 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $369,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,578,976 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,578,976 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $708,162 |
| Compensation of current officers, directors, key employees. | $118,993 |
| Compensation to disqualified persons | $227,712 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $139,064 |
| Payroll taxes | $64,830 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $27,028 |
| Advertising and promotion | $274,332 |
| Office expenses | $6,632 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $49,593 |
| Travel | $21,048 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,291 |
| Insurance | $7,127 |
| All other expenses | $1,054 |
| Total functional expenses | $1,649,872 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,170 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $54,828 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $20,740 |
| Net Land, buildings, and equipment | $14,137 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $414,223 |
| Total assets | $543,098 |
| Accounts payable and accrued expenses | $51,201 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $93,247 |
| Total liabilities | $144,448 |
| Net assets without donor restrictions | $77,674 |
| Net assets with donor restrictions | $320,976 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $543,098 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greater Rochester Enterprise Inc has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Rochester Institute Of Technology Rochester, NY PURPOSE: General Support | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Insitech Inc Warren, NJ | $450,270 | $14,466,949 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |
Delaware County Economic Development Oversight Board Media, PA | $2,255,958 | $10,697,300 |
Alleghenies Planning And Development Commission Altoona, PA | $25,721,818 | $9,986,298 |
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Greater Philadelphia Tourism Marketing Corporation Philadelphia, PA | $11,403,385 | $8,019,397 |
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,175,283 | $8,778,402 |
Choose New Jersey Inc Newark, NJ | $7,145,867 | $9,053,939 |
Dauphin County Economic Development Corporation Harrisburg, PA | $8,424,591 | $10,449,757 |
Ben Franklin Technology Partners Of Northeastern Pennsylvania Inc Bethlehem, PA | $58,069,128 | $6,233,285 |
Greater Pittsburgh Convention & Visitors Bureau Inc Pittsburgh, PA | $10,210,665 | $8,196,256 |