Rochester Area Community Foundation Initiatives Inc
- Assets
- $1.8m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 15
- Location
- Rochester, NY
- Founding
- 06/2002
- Data as of
- 03/2023
- EIN
- 80-0024332
Organization Overview
Rochester Area Community Foundation Initiatives Inc is located in Rochester, NY. The organization was established in 2002. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 03/2023, Rochester Area Community Foundation Initiatives Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rochester Area Community Foundation Initiatives 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 03/2023, Rochester Area Community Foundation Initiatives Inc generated $1.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (9.2%) each year. All expenses for the organization totaled $1.8m during the year ending 03/2023. As we would expect to see with falling revenues, expenses have declined by (10.0%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Rochester Area Community Foundation Initiatives Inc has awarded 101 individual grants totaling $5,352,253. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SPONSORS PROGRAMS AND PROJECTS THAT ADDRESS THE NEEDS OF THE COMMUNITY. THE ORGANIZATION OPERATES EXCLUSIVELY FOR THE BENEFIT AND SUPPORT OF ROCHESTER AREA COMMUNITY FOUNDATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPONSORS PROGRAMS AND PROJECTS THAT ADDRESS THE NEEDS OF THE COMMUNITY. OPERATES EXCLUSIVELY FOR THE BENEFIT AND SUPPORT OF ROCHESTER AREA COMMUNITY FOUNDATION. THERE WERE 80 GRANTS PAID OUT TO AGENCIES HELPING PEOPLE IN THE GREATER ROCHESTER COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Abigail J Bennett Member | Trustee | 1 | $0 |
R Scott Burdett Member | Trustee | 1 | $0 |
David P Veniskey CPA Member | Trustee | 1 | $0 |
Thomas S Richards Chair | OfficerTrustee | 1 | $0 |
Mark A Eidlin Member | Trustee | 1 | $0 |
Michelle A Hutchinson ESQ Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $2,117 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $425,731 |
| Government grants | $322,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,152,388 |
| Noncash contributions included in lines 1a–1f | $1,135 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,902,736 |
| Total Program Service Revenue | $0 |
| Investment income | $33,840 |
| 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 | $1,936,576 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,140,250 |
| Grants and other assistance to domestic individuals. | $10,369 |
| 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 | $377,462 |
| Pension plan accruals and contributions | $15,773 |
| Other employee benefits | $33,978 |
| Payroll taxes | $36,231 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,039 |
| Fees for services: Other | $250 |
| Advertising and promotion | $6,226 |
| Office expenses | $35,917 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $29,585 |
| Travel | $114 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,008 |
| Interest | $0 |
| Payments to affiliates | $63,146 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,773,800 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,749,030 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,122 |
| 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 | $7,485 |
| 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 | $1,761,637 |
| Accounts payable and accrued expenses | $773 |
| Grants payable | $121,372 |
| 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 | $89,750 |
| Total liabilities | $211,895 |
| Net assets without donor restrictions | $1,549,742 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,761,637 |
Grants Awarded
Over the last fiscal year, Rochester Area Community Foundation Initiatives Inc has awarded $827,872 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
ACTION FOR A BETTER COMMUNITY PURPOSE: RENEW PROGRAM GRANTS | $9,100 |
CAMERON COMMUNITY MINISTRIES PURPOSE: R & R FOR GIRLS | $25,000 |
AGAPE HAVEN OF ABUNDANCE PURPOSE: URBAN YOUTH EMPOWERMENT PROGRAM | $15,000 |
CENTER FOR AN URBAN FUTURE PURPOSE: CREATIVE ECONOMY STUDY | $100,000 |
CENTER FOR GOVERNMENTAL RESEARCH PURPOSE: ACT ROCHESTER | $34,500 |
CENTER FOR TEEN EMPOWERMENT PURPOSE: YOUNG WOMEN'S LEADERSHIP AND EMPLOYMENT PROJECT | $25,000 |