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Nonprofiteer
← ROCHESTER AREA COMMUNITY FOUNDATION INITIATIVES INC

Form 990 for tax year 2023

Filed by ROCHESTER AREA COMMUNITY FOUNDATION INITIATIVES INC.

Totals

Total revenue
$2,444,586
Total expenses
$2,413,800
Contributions and grants received
$2,396,465
Grants paid
$1,367,753
Program service revenue
$0
Investment income
$48,121
Other revenue
$0
Total assets, end of year
$2,048,465
Total liabilities, end of year
$467,883
Net assets or fund balances, end of year
$1,580,582
Program services expenses (Part IX)
$2,290,561
Management and general expenses
$105,239
Fundraising expenses
$18,000
Program service expenses (Part III)
$2,290,561

Program services were 94.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $5,457

  • 1d · Related organizations

    $979,845

  • 1e · Government grants (contributions)

    $147,482

  • 1f · All other contributions, gifts and grants

    $1,263,681

  • 1g · Noncash contributions included above

    $9,176

  • 3 · Investment income

    total $48,175 · excluded $48,175

  • 7a · Gross sales of assets other than inventory

    securities $10,943

  • 7b · Less cost or other basis and sales expenses

    securities $10,997

  • 7c · Gain or loss

    securities -$54

  • 7d · Net gain or loss

    total -$54 · excluded -$54

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,367,753 · program services $1,367,753

  • 7 · Other salaries and wages

    total $512,699 · program services $497,787 · management and general $7,405 · fundraising $7,507

  • 8 · Pension plan contributions

    total $14,985 · program services $14,550 · management and general $216 · fundraising $219

  • 9 · Other employee benefits

    total $56,339 · program services $54,705 · management and general $811 · fundraising $823

  • 10 · Payroll taxes

    total $46,262 · program services $44,921 · management and general $666 · fundraising $675

  • 11c · Fees: accounting

    total $500 · management and general $500

  • 11f · Fees: investment management

    total $6,612 · program services $6,612

  • 11g · Fees: other

    total $185,858 · program services $185,858

  • 12 · Advertising and promotion

    total $411 · fundraising $411

  • 13 · Office expenses

    total $6,636 · program services $6,443 · management and general $86 · fundraising $107

  • 16 · Occupancy

    total $29,157 · program services $8,975 · management and general $12,572 · fundraising $7,610

  • 17 · Travel

    total $203 · program services $203

  • 19 · Conferences, conventions and meetings

    total $22,171 · program services $22,171

  • 21 · Payments to affiliates

    total $82,468 · management and general $82,468

  • 24a · Other expenses: CONVENING & CONTR.SERVI

    total $40,446 · program services $40,446

  • 24b · Other expenses: OTHER FEES

    total $32,824 · program services $31,869 · management and general $423 · fundraising $532

  • 24c · Other expenses: EQUIPMENT RENTAL

    total $7,141 · program services $6,933 · management and general $92 · fundraising $116

  • 24d · Other expenses: PROFESSIONAL DUES

    total $1,335 · program services $1,335

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,749,030 · end of year $1,873,890

  • 4 · Accounts receivable

    beginning of year $5,122 · end of year $172,096

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,485 · end of year $2,479

  • 17 · Accounts payable and accrued expenses

    beginning of year $773 · end of year $15,379

  • 18 · Grants payable

    beginning of year $121,372 · end of year $61,256

  • 19 · Deferred revenue

    end of year $67,708

  • 25 · Other liabilities

    beginning of year $89,750 · end of year $323,540

  • 27 · Net assets without donor restrictions

    beginning of year $1,549,742 · end of year $1,580,582

Mission and programs · 2023

Mission

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.

  • 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 30 GRANTS PAID OUT TO AGENCIES HELPING PEOPLE IN THE GREATER ROCHESTER COMMUNITY.

    Expenses $2,290,561 · Grants $1,367,753

As filed on the 2023 return.

Listed in Part VII

  • ADAM P ANOLIK

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • ABIGAIL J BENNETT

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • R SCOTT BURDETT

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DAVID P VENISKEY CPA

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • THOMAS S RICHARDS

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MARK A EIDLIN

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ANN H MCMULLEN

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CAROLYN G NUSSBAUM ESQ

    COUNSEL

    Total calculated
    $0
    Hours/week
    1

  • RICHARD J RIEDMAN

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • FLOR M COLON

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • DAVID R FERRIS ESQ

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • MOLLENE B BENISON CPA

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • FRANCIS J CLEMENT

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ARLINE L BAYO SANTIAGO ESQ

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JAMES H NORMAN

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ABIGAIL A REINHARD

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DR WILLIAM VALENTI

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • AMY S VARS CPA

    SENIOR VP AND CFO

    Total calculated
    $231,218
    From this org
    $0
    From related orgs
    $219,851
    Other
    $11,367
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $219,023 related
    Bonus
    $0
    Other
    $0 + $828 related
    Deferred
    $0 + $10,843 related
    Nontaxable benefits
    $0 + $524 related
    Filer's total
    $0 + $231,218 related

  • SIMEON BANISTER

    PRESIDENT AND CEO

    Total calculated
    $303,683
    From this org
    $0
    From related orgs
    $288,482
    Other
    $15,201
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $277,652 related
    Bonus
    $0
    Other
    $0 + $10,830 related
    Deferred
    $0 + $14,141 related
    Nontaxable benefits
    $0 + $1,060 related
    Filer's total
    $0 + $303,683 related

  • MEGAN NORRIS

    EXECUTIVE DIRECTOR, ACT ROCHESTER

    Total calculated
    $116,698
    From this org
    $107,122
    From related orgs
    $0
    Other
    $9,576
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PAGE 3, PART III
ROCHESTER AREA COMMUNITY FOUNDATION (RACF), A RELATED ORGANIZATION, WAS RESPONSIBLE FOR PAYING THE COMPENSATION AND THE RESPECTIVE HEALTH AND SOCIAL CLUB DUES OF THE PRESIDENT AND CEO AND SENIOR VICE PRESIDENT AND CFO. THE FOLLOWING WAS USED BY RACF WHEN DETERMINING THE PRESIDENT AND CEO'S COMPENSATION - INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION STUDY, FORM 990 OF OTHER ORGANIZATIONS - AND APPROVAL BY THE BOARD OF DIRECTORS.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
15 January 2025
IRS schema version
2023v6.0
Source object
202520169349301907

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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