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Nonprofiteer
← ROCHESTER ECONOMIC DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by ROCHESTER ECONOMIC DEVELOPMENT CORPORATION.

Totals

Total revenue
$651,774
Total expenses
$1,214,479
Contributions and grants received
$227,531
Grants paid
$217,810
Program service revenue
$270,862
Investment income
$151,987
Other revenue
$1,394
Total assets, end of year
$12,244,297
Total liabilities, end of year
$1,478,459
Net assets or fund balances, end of year
$10,765,838
Program services expenses (Part IX)
$335,161
Management and general expenses
$879,318
Fundraising expenses
$0
Program service expenses (Part III)
$335,161

Program services were 27.6% 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.

  • 1e · Government grants (contributions)

    $184,549

  • 1f · All other contributions, gifts and grants

    $42,982

  • 2a · Program service revenue: INTEREST ON NOTE RECEI

    total $142,122 · related or exempt $142,122

  • 2b · Program service revenue: FISCAL SPONSOR REVENUE

    total $64,000 · related or exempt $64,000

  • 2c · Program service revenue: FEES ON LOANS & GRANTS

    total $48,594 · related or exempt $48,594

  • 2d · Program service revenue: RENTAL REVENUE

    total $16,146 · related or exempt $16,146

  • 3 · Investment income

    total $156,440 · excluded $156,440

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

    other assets $4,453

  • 7c · Gain or loss

    other assets -$4,453

  • 7d · Net gain or loss

    total -$4,453 · excluded -$4,453

  • 8a · Fundraising events: gross income

    $1,055

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $1,055 · excluded $1,055

  • 11a · Other revenue: MISCELLANEOUS

    total $339 · excluded $339

  • 11e · Other revenue, total

    $339

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $217,810 · program services $217,810

  • 7 · Other salaries and wages

    total $237,612 · program services $65,950 · management and general $171,662

  • 9 · Other employee benefits

    total $101,341 · program services $28,127 · management and general $73,214

  • 11a · Fees: management

    total $67,791 · program services $18,816 · management and general $48,975

  • 11b · Fees: legal

    total $50,989 · program services $4,458 · management and general $46,531

  • 11g · Fees: other

    total $359,679 · management and general $359,679

  • 12 · Advertising and promotion

    total $1,148 · management and general $1,148

  • 13 · Office expenses

    total $8,983 · management and general $8,983

  • 14 · Information technology

    total $24,797 · management and general $24,797

  • 16 · Occupancy

    total $42,639 · management and general $42,639

  • 17 · Travel

    total $5,184 · management and general $5,184

  • 19 · Conferences, conventions and meetings

    total $6,962 · management and general $6,962

  • 22 · Depreciation, depletion and amortization

    total $9,639 · management and general $9,639

  • 23 · Insurance

    total $10,380 · management and general $10,380

  • 24a · Other expenses: FISCAL SPONSOR EXPENSE

    total $62,000 · management and general $62,000

  • 24b · Other expenses: BANK CHARGES

    total $5,385 · management and general $5,385

  • 24c · Other expenses: REAL ESTATE EXPENSES

    total $2,140 · management and general $2,140

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $8,551,251 · end of year $6,955,393

  • 4 · Accounts receivable

    beginning of year $14,952 · end of year $31,001

  • 7 · Other notes and loans receivable

    beginning of year $4,457,902 · end of year $4,300,682

  • 9 · Prepaid expenses and deferred charges

    end of year $193,999

  • 10a · Land, buildings and equipment: cost or other basis

    $787,479

  • 10b · Land, buildings and equipment: accumulated depreciation

    $24,257

  • 10c · Land, buildings and equipment, net

    beginning of year $31,943 · end of year $763,222

  • 15 · Other assets

    beginning of year $250,532 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $253,100 · end of year $16,511

  • 19 · Deferred revenue

    beginning of year $1,474,405 · end of year $1,461,948

  • 25 · Other liabilities

    beginning of year $250,532 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $11,328,543 · end of year $10,765,838

Mission and programs · 2023

Mission

ROCHESTER ECONOMIC DEVELOPMENT CORPORATION (ROCEDC) IS A PRIVATE NOT-FOR-PROFIT ORGANIZATION THAT EXISTS TO STIMULATE EQUITABLE ECONOMIC GROWTH THAT IMPROVES THE QUALITY OF LIFE IN THE CITY OF ROCHESTER, NEW YORK.

  • TO REDUCE WEALTH DISPARITIES IN MIDDLE INCOME AND POOR ROCHESTER NEIGHBORHOODS BY CREATING AND SUPPORTING LOCALLY OWNED MICRO AND SMALL NEIGHBORHOOD BUSINESSES AND URBAN ENTREPRENEURS.

    Expenses $335,161 · Grants $217,810 · Revenue $270,862

As filed on the 2023 return.

Listed in Part VII

  • Dana Miller

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Dr Dt Ogilvie

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Keith Cleary

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Michael A Patterson

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Sergio Esteban

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Chenoa Maye

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Allie Sacks

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Gene Deprez

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kimberly Mitchell

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

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.

Grants on this return

  • MONROE COMMUNITY COLLEGE

    $27,986

    SBA GRANT - SPOKE FOR RPEP PROGRAM

  • MONROE COMMUNITY COLLEGE

    $26,641

    PATHSTONE GRANT - CLASSES FOR THE LOAN READINESS PROGRAM

  • MEN OF EUREKA DEVELOPMENT LLC

    $25,552

    SBA GRANT - COACH FOR RPEP PROGRAM

  • THIRD EYE NETWORK LLC

    $18,362

    SBA GRANT - RAN THE RPRP PROGRAM

  • LINDA'S NY PIZZERIA

    $15,998

    ESD GRANT RECEIPIENTS - BUILDING RENOVATIONS

  • UNIVERSITY OF MISSOURI

    $15,000

    ESD TECHNICAL SUPPORT GRANT - SOFTWARE PURCHASE

  • PLAN-IT EBONI LLC

    $13,209

    SBA GRANT - COACH FOR RPEP PROGRAM

  • CONSUMER CREDIT COUNSELING SERVICE OF ROCHESTER INC

    $13,209

    SBA GRANT - SPOKE FOR RPEP PROGRAM

  • JOHN RODRIGUEZ4CHANGE LLC

    $13,209

    SBA GRANT - COACH FOR RPEP PROGRAM

  • MARKET ACCESS COMPANY INC

    $13,209

    SBA GRANT - COACH FOR RPEP PROGRAM

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

Provenance

Return type
form_990
Tax year
2023
Filed
13 August 2025
IRS schema version
2023v6.0
Source object
202532269349302628

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

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