Greater Rochester Chamber Of Commerce Foundation 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. Greater Rochester Chamber Of Commerce 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 12/2023, Greater Rochester Chamber Of Commerce Foundation Inc generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 72.2% each year . All expenses for the organization totaled $2.5m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
GREATER ROCHESTER CHAMBER OF COMMERCE FOUNDATION, INC. PROMOTES, SUPPLEMENTS AND ENRICHES THE EDUCATION AND WELFARE OF STUDENTS IN THE GREATER ROCHESTER, NEW YORK/FINGER LAKES REGION; WORKS TO STRENGTHEN ECONOMIC GROWTH AND EXPANSION THROUGHOUT THE GREATER ROCHESTER, NEW YORK/FINGER LAKES REGION; AND FURTHERS WORKFORCE DEVELOPMENT AND TALENT STRATEGY INITIATIVES THROUGHOUT THE GREATER ROCHESTER, NEW YORK/FINGER LAKES REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRAINING: PROMOTE, SUPPLEMENT AND ENRICH WORKFORCE TRAINING OF REGIONAL EMPLOYEES. (197 INDIVIDUALS, 117 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.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Robert S Sands Chairman | OfficerTrustee | 1 | $0 |
Eric Johnson Vice Chair | OfficerTrustee | 1 | $0 |
Faheem Masood Board Member | Trustee | 1 | $0 |
Martin Mucci Board Member | Trustee | 1 | $0 |
Susan Holliday Board Member | Trustee | 1 | $0 |
Kathy Richmond Sr. Director | Trustee | 1 | $0 |
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 | $1,323,517 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $1,323,517 |
Total Program Service Revenue | $143,900 |
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 | $1,467,417 |
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 | $451,872 |
Pension plan accruals and contributions | $11,281 |
Other employee benefits | $36,244 |
Payroll taxes | $27,159 |
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 | $1,695,975 |
Advertising and promotion | $0 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $23,249 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $169,954 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $18,925 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $2,525,938 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,320,296 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $503,110 |
Accounts receivable, net | $2,946 |
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 | $21,468 |
Net Land, buildings, and equipment | $26,388 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $4,879 |
Total assets | $1,879,087 |
Accounts payable and accrued expenses | $116,576 |
Grants payable | $0 |
Deferred revenue | $33,489 |
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 | $242,683 |
Total liabilities | $392,748 |
Net assets without donor restrictions | $41,711 |
Net assets with donor restrictions | $1,444,628 |
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 | $1,879,087 |