Greater Rochester Enterprise Foundation Inc
- Assets
- $321.0k
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Rochester, NY
- Founding
- 11/2002
- Data as of
- 12/2021
- EIN
- 10-0000085
Organization Overview
Greater Rochester Enterprise Foundation Inc is located in Rochester, NY. The organization was established in 2002. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Rochester Enterprise Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Greater Rochester Enterprise Foundation Inc generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.0%) each year. All expenses for the organization totaled $1.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Greater Rochester Enterprise Foundation Inc has awarded 36 individual grants totaling $9,824,197. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
GENERATE CONTRIBUTIONS TO HELP SUPPORT THE ACTIVITIES OF GREATER ROCHESTER ENTERPRISE, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERATE CONTRIBUTIONS TO HELP SUPPORT THE COMPANY'S MISSION OF ASSISTING GREATER ROCHESTER ENTERPRISE, INC.
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Dworkin Chairperson | OfficerTrustee | 1 | $0 |
David C Munson Jr Vice Chair | OfficerTrustee | 1 | $0 |
Lori Green Secretary | OfficerTrustee | 1 | $0 |
Matthew Hurlbutt President & CEO | OfficerTrustee | 24 | $0 |
Theresa Mazzullo Treasurer | OfficerTrustee | 1 | $0 |
Aaron Hilger Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,565,850 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,565,850 |
| Total Program Service Revenue | $0 |
| Investment income | $1 |
| 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 | $1,565,851 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,159,976 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $246,242 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $39,154 |
| Advertising and promotion | $0 |
| Office expenses | $4,749 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $26,200 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,546 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,539 |
| All other expenses | $0 |
| Total functional expenses | $1,485,224 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $269,965 |
| Savings and temporary cash investments | $15,911 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $35,100 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $320,976 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $320,976 |
Grants Awarded
Over the last fiscal year, Greater Rochester Enterprise Foundation Inc has awarded $2,231,246 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
Rochester, NY PURPOSE: TO SUPPORT PROGRAM SERVICES. | $1,115,623 |
Rochester, NY PURPOSE: TO SUPPORT PROGRAM SERVICES. | $1,115,623 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Greater Rochester Enterprise Foundation Inc has recieved totaling $240,000.
| Awarding Organization | Amount |
|---|---|
Esl Charitable Foundation Inc Rochester, NY PURPOSE: GRE ECONOMIC GARDENING PROGRAM | $100,000 |
Rochester General Hospital Rochester, NY PURPOSE: SPONSORSHIP | $50,000 |
William & Sheila Konar Foundation W Henrietta, NY PURPOSE: PROGRAM SUPPORT | $50,000 |
Rochester Area Community Foundation Rochester, NY PURPOSE: GRE ECONOMIC GARDENING | $40,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harristown Development Corporation Harrisburg, PA | $29,766,695 | $19,028,512 |
Homestart Inc Boston, MA | $5,713,584 | $14,864,192 |
The Community Action Agency Of Western Connecticut Inc Danbury, CT | $3,614,776 | $12,103,732 |
Massachusetts Manufacturing Extension Partnership Inc Auburn, MA | $5,456,400 | $10,807,956 |
Greater Jamaica Development Corp Jamaica, NY | $43,416,674 | $8,397,998 |
South Bronx Overall Economic Development Corporation Bronx, NY | $11,273,834 | $9,485,057 |
Dorchester Bay Economic Development Corporation Dorchester, MA | $50,118,730 | $16,286,134 |
National Basketball Association Foundation New York, NY | $26,984,536 | $31,000,000 |
Newark Downtown District Management Corporation Newark, NJ | $7,203,712 | $5,205,083 |
Rdc Commercial Center Inc Brooklyn, NY | $15,313,985 | $4,091,889 |
Pittsburgh Downtown Partnership Pittsburgh, PA | $5,197,454 | $6,457,703 |
Grow America Fund Inc Brooklyn, NY | $143,748,091 | $12,181,976 |