Rochester Area Community Foundation
- Assets
- $452.7m
- Revenue
- $59.6m
- Investments
- $144.8m
- Employees
- 41
- Location
- Rochester, NY
- Founding
- 09/1972
- Data as of
- 03/2021
- EIN
- 23-7250641
Organization Overview
Rochester Area Community Foundation is located in Rochester, NY. The organization was established in 1972. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 03/2023, Rochester Area Community Foundation employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rochester Area Community Foundation 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 03/2021, Rochester Area Community Foundation generated $59.6m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $32.8m during the year ending 03/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Rochester Area Community Foundation has awarded 3,352 individual grants totaling $108,578,654. 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
TO BUILD A PERMANENT COMMUNITY ENDOWMENT THAT MEETS THE CURRENT AND CHANGING NEEDS OF THIS REGION THROUGH CREATIVE AND EFFECTIVE PHILANTHROPY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS, SCHOLARSHIPS, AND PROGRAM SERVICES ARE DISTRIBUTED PRIMARILY IN THE NEW YORK COUNTIES OF MONROE, WAYNE, ONTARIO, LIVINGSTON, GENESEE, ORLEANS, SENECA AND YATES. ROCHESTER AREA COMMUNITY FOUNDATION ASSISTS LOCAL CITIZENS IN MEETING COMMUNITY NEEDS AND IMPROVING THE REGION'S QUALITY OF LIFE THROUGH A VOLUNTARY POOLING OF THEIR FINANCIAL RESOURCES, TIME, AND ENERGY. PRINCIPAL AREAS OF BENEFIT ARE EDUCATION, HUMAN SERVICES, ARTS AND CULTURE, AND CIVIC IMPROVEMENT. DISTRIBUTIONS WERE MADE TO 1,927 AGENCIES AND INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mollene B Benison CPA Treasurer | OfficerTrustee | 1 | $0 |
Dr William M Valenti Member | Trustee | 1 | $0 |
Abigail J Bennett Member | Trustee | 1 | $0 |
Sujatha Ramanujan MD Member | Trustee | 1 | $0 |
James H Norman Member | Trustee | 1 | $0 |
Mark A Eidlin Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $34,587,440 |
| Investment income | $2,765,844 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $21,580,437 |
| Net Income from Fundraising Events | -$4,270 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $59,557,190 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $784,467 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $618,948 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,085,927 |
| Pension plan accruals and contributions | $88,173 |
| Other employee benefits | $319,328 |
| Payroll taxes | $164,128 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $71,261 |
| Fees for services: Accounting | $62,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $256,662 |
| Fees for services: Other | $208,936 |
| Advertising and promotion | $80,174 |
| Office expenses | $104,227 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $178,060 |
| Travel | $2,183 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,290 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,943 |
| Insurance | $69,735 |
| All other expenses | $0 |
| Total functional expenses | $32,827,784 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $6,212,115 |
| Pledges and grants receivable | $4,212,839 |
| Accounts receivable, net | $2,614 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $312,684 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $122,993 |
| Investments—publicly traded securities | $287,358,066 |
| Investments—other securities | $144,763,450 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,546,685 |
| Total assets | $452,673,006 |
| Accounts payable and accrued expenses | $410,837 |
| Grants payable | $89,877 |
| Deferred revenue | $40,217 |
| 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 | $844,232 |
| Total liabilities | $1,385,163 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $451,287,843 |
Grants Awarded
Over the last fiscal year, Rochester Area Community Foundation has awarded $23,299,759 in support to 576 organizations.
| Grant Recipient | Amount |
|---|---|
13THIRTY CANCER CONNECT PURPOSE: FOR GENERAL SUPPORT | $34,500 |
350ORG PURPOSE: FOR GENERAL SUPPORT | $8,750 |
4THEVILLE PURPOSE: TO SUPPORT A NEW RESOURCE CENTER AND THE ORGANIZATION'S JUNETEENTH CELEBRATION | $10,000 |
540WMAIN PURPOSE: FOR GENERAL OPERATING SUPPORT | $66,000 |
A 2ND CUP PURPOSE: TO SUPPORT BRAZEN TABLE, A HOLISTIC CULINARY AND JOB SKILLS TRAINING PROGRAM | $11,000 |
A FATHER'S PLACE PURPOSE: FOR GENERAL SUPPORT | $7,000 |