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Nonprofiteer
← RCN FOUNDATION INC

Form 990 for tax year 2023

Filed by RCN FOUNDATION INC.

Totals

Total revenue
$309,410
Total expenses
$300,048
Contributions and grants received
$0
Grants paid
$240,344
Program service revenue
$0
Investment income
$94,866
Other revenue
$214,544
Total assets, end of year
$2,855,858
Total liabilities, end of year
$27,076
Net assets or fund balances, end of year
$2,828,782
Program services expenses (Part IX)
$285,908
Management and general expenses
$14,140
Fundraising expenses
$0
Program service expenses (Part III)
$285,908

Program services were 95.3% 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.

  • 3 · Investment income

    total $16,437 · excluded $16,437

  • 6a · Gross rents

    real property $214,544

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $214,544

  • 6d · Net rental income or loss

    total $214,544 · excluded $214,544

  • 7a · Gross sales of assets other than inventory

    securities $567,469

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

    securities $489,040

  • 7c · Gain or loss

    securities $78,429

  • 7d · Net gain or loss

    total $78,429 · excluded $78,429

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $240,344 · program services $240,344

  • 11f · Fees: investment management

    total $6,154 · management and general $6,154

  • 11g · Fees: other

    total $4,940 · management and general $4,940

  • 22 · Depreciation, depletion and amortization

    total $45,564 · program services $45,564

  • 23 · Insurance

    total $2,750 · management and general $2,750

  • 24a · Other expenses: NYS Filing Fee

    total $250 · management and general $250

  • 24e · All other expenses

    total $46 · management and general $46

Balance sheet

Part X, book values.

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

    $3,564,074

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

    $1,770,266

  • 10c · Land, buildings and equipment, net

    beginning of year $984,161 · end of year $1,793,808

  • 11 · Investments: publicly traded securities

    beginning of year $1,045,586 · end of year $762,050

  • 15 · Other assets

    beginning of year $0 · end of year $300,000

  • 25 · Other liabilities

    beginning of year $467,044 · end of year $27,076

  • 27 · Net assets without donor restrictions

    beginning of year $1,562,703 · end of year $2,828,782

Mission and programs · 2023

Mission

Solicit, accept, receive, hold, invest, reinvest, and administer any gifts or contributions of cash or property on behalf of Rochester Childfirst Network.

Activities or mission (Part I)

Solicit, accept, receive, and administer contributions on behalf of Rochester Childfirst Network.

  • The organization operates to raise funds and manage the assets of Rochester Childfirst Network, a related 501(c)(3) organization that provides childcare, special education, and preschool services to children in Rochester, NY.

    Expenses $285,908 · Grants $240,344

As filed on the 2023 return.

Listed in Part VII

  • Norene Green

    Member

    Total calculated
    $0
    Hours/week
    0.2 + 0.4 related

  • Peter Schermerhorn

    Secretary (through May 2024)

    Total calculated
    $0
    Hours/week
    0.4

  • Jeri Rombaut

    President/Treasurer

    Total calculated
    $0
    Hours/week
    0.5

  • Christian Gehlen

    Member

    Total calculated
    $0
    Hours/week
    0.2

  • Marsha Dumka

    Member

    Total calculated
    $0
    Hours/week
    0.2

  • Barry Wisset

    Vice President

    Total calculated
    $0
    Hours/week
    0.3 + 0.4 related

  • Stephan Howles

    Member (Beginning June 2024)

    Total calculated
    $0
    Hours/week
    0.1

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

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
16 January 2025
IRS schema version
2023v6.0
Source object
202540279349300234

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