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← R A F PROPERTIES

Form 990 for tax year 2022

Filed by R A F PROPERTIES.

Totals

Total revenue
$407,620
Total expenses
$408,433
Contributions and grants received
$407,620
Grants paid
$399,881
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
-$413
Total liabilities, end of year
$400
Net assets or fund balances, end of year
-$813
Program services expenses (Part IX)
$406,833
Management and general expenses
$1,600
Fundraising expenses
$0
Program service expenses (Part III)
$406,833

Program services were 99.6% 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.

  • 1f · All other contributions, gifts and grants

    $407,620

  • 1g · Noncash contributions included above

    $407,620

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $399,881 · program services $399,881

  • 11b · Fees: legal

    total $6,202 · program services $6,202

  • 11c · Fees: accounting

    total $1,575 · management and general $1,575

  • 23 · Insurance

    total $350 · program services $350

  • 24a · Other expenses: CONSULTANT FEES - ENVIR

    total $400 · program services $400

  • 24b · Other expenses: MN REGISTRATION

    total $25 · management and general $25

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year -$413

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $400

  • 27 · Net assets without donor restrictions

    beginning of year $0 · end of year -$813

Mission and programs · 2022

Mission

TO RECEIVE, HOLD, ADMINISTER AND DISBURSE ANY REAL PROPERTY WHICH MAY BE TRANSFERRED TO IT BY GIFT, OR OTHERWISE, AND TO DISPOSE OF THE PROPERTY BY ANY MEANS WHATSOEVER FOR THE BENEFIT OF THE ROCHESTER AREA FOUNDATION.

  • TO RECEIVE, HOLD, ADMINISTER AND DISBURSE ANY REAL PROPERTY WHICH MAY BE TRANSFERRED TO IT BY GIFT, OR OTHERWISE, AND TO DISPOSE OF THE PROPERTY BY ANY MEANS WHATSOEVER FOR THE BENEFIT OF THE ROCHESTER AREA FOUNDATION.

    Expenses $406,833 · Grants $399,881 · Revenue $407,620

As filed on the 2022 return.

Listed in Part VII

  • Natalie Jones

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Kathy Lombardo

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 6 related

  • Craig Wendland

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 4 related

  • John Benike

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Mark Utz

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Dave Oeth

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5 + 4 related

  • Wendy Shannon

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • Jennifer Woodford

    EXECUTIVE DIRECTOR

    Total calculated
    $153,541
    From this org
    $0
    From related orgs
    $144,545
    Other
    $8,996
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $144,545 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,200 related
    Nontaxable benefits
    $0 + $1,796 related
    Filer's total
    $0 + $153,541 related

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

None.

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)

PART I, LINE 3
ROCHESTER AREA FOUNDATION, A RELATED ORGANIZATION, DETERMINES COMPENSATION OF RAF PROPERTIES' TOP MANAGEMENT OFFICIAL. ROCHESTER AREA FOUNDATION UTILIZES A COMPENSATION COMMITTEE, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD TO DETERMINE SUCH COMPENSATION.

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

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.

  • FIRST HOMES PROPERTIES

    501(C)(3) · TO PROVIDE OPPORTUNITIES FOR LOW AND MODERATE INCOME HOUSEHOLDS IN SE MN · MN · controlled entity

    Directly controlled by ROCHESTER AREA FOUNDATION

  • ROCHESTER AREA FOUNDATION

    501(C)(3) · STRENGTHEN COMMUNITY PHILANTHROPY · MN

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

  • CITY OF ROCHESTER MN

    $407,620

    Disposition · LAND · Dec 15, 2022 · MUNICIPALITY

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202323199349309602

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