Rochester Industries Educational Fund Inc
- Assets
- $2.8m
- Revenue
- $609.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Rochester, NY
- Founding
- 09/1978
- Data as of
- 12/2021
- EIN
- 16-1104636
Organization Overview
Rochester Industries Educational Fund Inc is located in Rochester, NY. The organization was established in 1978. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rochester Industries Educational Fund 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, Rochester Industries Educational Fund Inc generated $609.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.6% each year . All expenses for the organization totaled $1.3m 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
ROCHESTER INDUSTRIES EDUCATIONAL FUND, INC. PROMOTES, SUPPLEMENTS AND ENRICHES THE EDUCATION AND WELFARE OF YOUNG PEOPLE IN THE ROCHESTER, NEW YORK AREA BY HELPING INDIVIDUALS DISCOVER THE CAREER OPPORTUNITIES OPEN TO THEM IN A TECHNOLOGY-ORIENTED WORLD AND TO HELP PROVIDE THE STEPS NECESSARY TO BECOME A PRODUCTIVE PART OF THAT WORLD THROUGH BOTH DIRECT TRAINING AND SUPPORT OF OTHER ORGANIZATIONS IN THE REGION CONDUCTING SIMILAR ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRAINING: PROMOTE, SUPPLEMENT AND ENRICH WORKFORCE TRAINING OF REGIONAL EMPLOYEES. (118 INDIVIDUALS, 61 COMPANIES SERVED)
COORDINATION AND CONVENING: ESTABLISH RELATIONSHIPS WITH CHARITABLE, EDUCATIONAL, AND BUSINESS ORGANIZATIONS IN THE GREATER ROCHESTER & FINGER LAKES REGION TO STRATEGICALLY COORDINATE EFFORTS IN FURTHERANCE OF ECONOMIC VITALITY AND OPPORTUNITY FOR THE REGION'S WORKFORCE. THIS INCLUDES PROVIDING ADMINISTRATIVE SUPPORT FOR THE ROC2025 INITIATIVE, A POWERFUL ALLIANCE OF ECONOMIC DEVELOPMENT ORGANIZATIONS DEDICATED TO MAKING GREATER ROCHESTER, NEW YORK ONE OF THE MOST DYNAMIC AND RAPIDLY GROWING REGIONAL ECONOMIES IN THE UNITED STATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert S Sands Chairman | OfficerTrustee | 1 | $0 |
Eric Johnson Vice Chair | OfficerTrustee | 1 | $0 |
Lauren Dixon 2nd Vice Chair | OfficerTrustee | 1 | $0 |
Robert Lemen Chief Financial Officer (thru 2/2022) | Officer | 1 | $0 |
Robert Duffy President & CEO | Officer | 1 | $0 |
David Beinetti 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 | $518,202 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $518,202 |
| Total Program Service Revenue | $91,666 |
| 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 | $609,868 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $442,519 |
| Pension plan accruals and contributions | $11,319 |
| Other employee benefits | $16,533 |
| Payroll taxes | $25,631 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $666,088 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $38,858 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,716 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,280,889 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,455,731 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,265,589 |
| Accounts receivable, net | $4,949 |
| 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 | $13,744 |
| Net Land, buildings, and equipment | $67,691 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,807,704 |
| Accounts payable and accrued expenses | $17,305 |
| Grants payable | $0 |
| Deferred revenue | $22,569 |
| 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 | $454,861 |
| Total liabilities | $494,735 |
| Net assets without donor restrictions | $183,281 |
| Net assets with donor restrictions | $2,129,688 |
| 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 | $2,807,704 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Rochester Industries Educational Fund Inc has recieved totaling $910,000.
| Awarding Organization | Amount |
|---|---|
Sands Family Foundation Inc Victor, NY PURPOSE: UNRESTRICTED PROGRAM USE | $410,000 |
Paychex Charitable Foundation Inc Rochester, NY PURPOSE: OPERATING SUPPORT | $200,000 |
The Wegman Family Charitable Foundation Rochester, NY PURPOSE: TO BE USED TO SUPPORT THE | $200,000 |
The Wegman Family Charitable Foundation Rochester, NY PURPOSE: PROGRAM SUPPORT | $50,000 |
United Way Of Greater Rochester And The Finger Lakes Inc Rochester, NY PURPOSE: SPECIAL GRANT | $25,000 |
Max And Marian Farash Charitable Foundation Rochester, NY PURPOSE: DESIGNATED TO ROC2025 FOR CHARITABLE PURPOSES | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Executive Education Academy Charter School Allentown, PA | $63,584,076 | $23,169,797 |
Foundation Academy Charter School Trenton, NJ | $16,120,573 | $21,345,321 |
Albany Academy Albany, NY | $58,726,077 | $27,181,105 |
Elisabeth Morrow School Englewood, NJ | $43,835,854 | $20,290,882 |
Yeshiva Ktana Of Passaic Passaic, NJ | $33,764,196 | $20,538,079 |
Cambridge School Of Weston Inc Weston, MA | $57,046,494 | $20,616,161 |
Franklintown Charter High School Philadelphia, PA | $47,616,708 | $24,090,071 |
Nichols School Of Buffalo Buffalo, NY | $102,003,479 | $42,213,694 |
Yeshiva Shaare Torah Inc Brooklyn, NY | $32,363,623 | $20,724,747 |
Yeshivat Heatid Inc Teaneck, NJ | $17,160,980 | $19,921,065 |
Ideal School Of Manhattan New York, NY | $22,538,816 | $19,239,739 |
Peck School Morristown, NJ | $71,516,691 | $18,101,005 |