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Nonprofiteer
← ROCHESTER AREA COMMUNITY FOUNDATION

Form 990 for tax year 2023

Filed by ROCHESTER AREA COMMUNITY FOUNDATION.

Totals

Total revenue
$47,939,929
Total expenses
$36,020,652
Contributions and grants received
$24,259,168
Grants paid
$29,333,381
Program service revenue
$0
Investment income
$22,888,976
Other revenue
$791,785
Total assets, end of year
$490,582,295
Total liabilities, end of year
$1,511,100
Net assets or fund balances, end of year
$489,071,195
Program services expenses (Part IX)
$31,280,080
Management and general expenses
$3,048,362
Fundraising expenses
$1,692,210
Program service expenses (Part III)
$31,280,080

Program services were 86.8% 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.

  • 1c · Fundraising events

    $32,396

  • 1f · All other contributions, gifts and grants

    $24,226,772

  • 1g · Noncash contributions included above

    $5,519,616

  • 3 · Investment income

    total $7,182,773 · excluded $7,182,773

  • 7a · Gross sales of assets other than inventory

    securities $99,686,134

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

    securities $83,979,931

  • 7c · Gain or loss

    securities $15,706,203

  • 7d · Net gain or loss

    total $15,706,203 · related or exempt $15,706,203

  • 8a · Fundraising events: gross income

    $19,260

  • 8a · Fundraising events: contributions included on line 1c

    $32,396

  • 8b · Fundraising events: direct expenses

    $32,632

  • 8c · Net income from fundraising events

    total -$13,372 · excluded -$13,372

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $805,157 · excluded $805,157

  • 11e · Other revenue, total

    $805,157

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $28,617,146 · program services $28,617,146

  • 2 · Grants to domestic individuals

    total $716,235 · program services $716,235

  • 5 · Compensation of officers, directors and key employees

    total $579,762 · program services $174,508 · management and general $254,110 · fundraising $151,144

  • 7 · Other salaries and wages

    total $2,584,756 · program services $774,456 · management and general $1,185,145 · fundraising $625,155

  • 8 · Pension plan contributions

    total $104,573 · program services $31,476 · management and general $45,834 · fundraising $27,263

  • 9 · Other employee benefits

    total $403,849 · program services $121,558 · management and general $177,008 · fundraising $105,283

  • 10 · Payroll taxes

    total $202,368 · program services $60,913 · management and general $88,698 · fundraising $52,757

  • 11b · Fees: legal

    total $114,925 · management and general $37,274 · fundraising $77,651

  • 11c · Fees: accounting

    total $88,225 · management and general $88,225

  • 11f · Fees: investment management

    total $265,572 · management and general $265,572

  • 11g · Fees: other

    total $484,508 · program services $51,360 · management and general $253,946 · fundraising $179,202

  • 12 · Advertising and promotion

    total $229,179 · fundraising $229,179

  • 13 · Office expenses

    total $134,159 · program services $45,405 · management and general $52,384 · fundraising $36,370

  • 16 · Occupancy

    total $269,967 · program services $83,096 · management and general $70,461 · fundraising $116,410

  • 17 · Travel

    total $5,085 · program services $1,503 · management and general $808 · fundraising $2,774

  • 19 · Conferences, conventions and meetings

    total $73,493 · program services $2,790 · management and general $65,831 · fundraising $4,872

  • 22 · Depreciation, depletion and amortization

    total $30,958 · management and general $30,958

  • 23 · Insurance

    total $48,606 · management and general $48,606

  • 24a · Other expenses: EQUIPMENT RENTAL

    total $282,473 · program services $86,832 · management and general $113,470 · fundraising $82,171

  • 24b · Other expenses: PROPERTY EXPENSE

    total $249,967 · management and general $249,967

  • 24c · Other expenses: PROFESSIONAL DUES

    total $28,074 · program services $6,030 · management and general $20,065 · fundraising $1,979

  • 24d · Other expenses: CONVENOR & HOSPITALITY

    total $6,772 · program services $6,772

  • 24e · All other expenses

    total $500,000 · program services $500,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $200 · end of year $200

  • 2 · Savings and temporary cash investments

    beginning of year $5,689,503 · end of year $6,025,864

  • 3 · Pledges and grants receivable

    beginning of year $3,127,408 · end of year $2,577,948

  • 4 · Accounts receivable

    beginning of year $106 · end of year $1,938

  • 7 · Other notes and loans receivable

    beginning of year $279,590 · end of year $262,463

  • 9 · Prepaid expenses and deferred charges

    beginning of year $207,883 · end of year $353,357

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

    $821,772

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

    $738,825

  • 10c · Land, buildings and equipment, net

    beginning of year $90,338 · end of year $82,947

  • 11 · Investments: publicly traded securities

    beginning of year $256,449,730 · end of year $267,331,862

  • 12 · Investments: other securities

    beginning of year $170,278,666 · end of year $205,649,720

  • 13 · Investments: program-related

    beginning of year $112,972 · end of year $119,201

  • 15 · Other assets

    beginning of year $7,883,021 · end of year $8,176,795

  • 17 · Accounts payable and accrued expenses

    beginning of year $275,912 · end of year $350,468

  • 18 · Grants payable

    beginning of year $613,118 · end of year $426,605

  • 19 · Deferred revenue

    beginning of year $217 · end of year $92

  • 25 · Other liabilities

    beginning of year $1,029,502 · end of year $733,935

  • 27 · Net assets without donor restrictions

    beginning of year $424,319,246 · end of year $474,902,859

  • 28 · Net assets with donor restrictions

    beginning of year $17,881,422 · end of year $14,168,336

Mission and programs · 2023

Mission

TO BUILD A PERMANENT COMMUNITY ENDOWMENT THAT MEETS THE CURRENT AND CHANGING NEEDS OF THIS REGION THROUGH CREATIVE AND EFFECTIVE PHILANTHROPY.

  • GRANTS, SCHOLARSHIPS, AND PROGRAM SERVICES ARE DISTRIBUTED PRIMARILY IN THE NEW YORK COUNTIES OF MONROE, WAYNE, ONTARIO, LIVINGSTON, GENESEE, ORLEANS, SENECA AND YATES. ROCHESTER AREA COMMUNITY FOUNDATION ASSISTS LOCAL CITIZENS IN MEETING COMMUNITY NEEDS AND IMPROVING THE REGION'S QUALITY OF LIFE THROUGH A VOLUNTARY POOLING OF THEIR FINANCIAL RESOURCES, TIME, AND ENERGY. PRINCIPAL AREAS OF BENEFIT ARE EDUCATION, HUMAN SERVICES, ARTS AND CULTURE, AND CIVIC IMPROVEMENT. DISTRIBUTIONS WERE MADE TO 1,745 AGENCIES AND INDIVIDUALS.

    Expenses $31,280,080 · Grants $29,333,381

As filed on the 2023 return.

Listed in Part VII

  • Mollene Benison CPA

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dr William M Valenti

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Abigail J Bennett

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sujatha Ramanujan MD

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • James H Norman

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mark A Eidlin

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Thomas C Mitchell

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ann Stevens

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • R Scott Burdett

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Francis J Clement

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Adam P Anolik

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Fred A Beer

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Richard J Riedman

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • David P Veniskey CPA

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • David R Ferris Esq

    CHAIR

    Total calculated
    $0
    Hours/week
    4

  • Carolyn G Nussbaum Esq

    COUNSEL

    Total calculated
    $0
    Hours/week
    1.5

  • Arline L Bayo Santiago Esq

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Rob Gallina

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Gina Cuyler MD

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Flor M Colon

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Ann H McMullen

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Patrick Cunningham

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Alyssa S Whitfield

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Todd Butler

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Denishea R Ortiz

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Abigail A Reinhard

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Thomas S Richards

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Amy Vars CPA

    SENIOR VP AND CFO

    Total calculated
    $231,218
    From this org
    $219,851
    From related orgs
    $0
    Other
    $11,367
    Hours/week
    34 + 6 related

    Schedule J breakdown matched by us

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

  • Simeon Banister

    PRESIDENT AND CEO

    Total calculated
    $303,683
    From this org
    $288,482
    From related orgs
    $0
    Other
    $15,201
    Hours/week
    34 + 6 related

    Schedule J breakdown matched by us

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

  • Karen Koons

    SR. DIRECTOR OF FINANCE

    Total calculated
    $145,545
    From this org
    $126,616
    From related orgs
    $0
    Other
    $18,929
    Hours/week
    38 + 2 related

  • Mary Holleran

    SENIOR VP OF COMMUNICATION

    Total calculated
    $168,110
    From this org
    $139,476
    From related orgs
    $0
    Other
    $28,634
    Hours/week
    34 + 6 related

    Schedule J breakdown matched by us

    Base
    $138,745
    Bonus
    $0
    Other
    $731
    Deferred
    $7,353
    Nontaxable benefits
    $21,281
    Filer's total
    $168,110

  • Andrew Muldoon

    VP OF PHILANTHROPIC ENGAGE

    Total calculated
    $175,439
    From this org
    $154,790
    From related orgs
    $0
    Other
    $20,649
    Hours/week
    34 + 6 related

    Schedule J breakdown matched by us

    Base
    $154,657
    Bonus
    $0
    Other
    $133
    Deferred
    $8,158
    Nontaxable benefits
    $12,491
    Filer's total
    $175,439

  • Berta Rivera

    DIRECTOR OF COMMUNITY PROGRAMS

    Total calculated
    $155,179
    From this org
    $132,482
    From related orgs
    $0
    Other
    $22,697
    Hours/week
    34 + 6 related

    Schedule J breakdown matched by us

    Base
    $132,392
    Bonus
    $0
    Other
    $90
    Deferred
    $2,112
    Nontaxable benefits
    $20,585
    Filer's total
    $155,179

  • Erin Barry

    VICE PRESIDENT, COMMUNITY PROGRAMS

    Total calculated
    $157,455
    From this org
    $145,189
    From related orgs
    $0
    Other
    $12,266
    Hours/week
    34 + 6 related

    Schedule J breakdown matched by us

    Base
    $144,481
    Bonus
    $0
    Other
    $708
    Deferred
    $2,689
    Nontaxable benefits
    $9,577
    Filer's total
    $157,455

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

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Provenance

Return type
form_990
Tax year
2023
Filed
16 January 2025
IRS schema version
2023v6.0
Source object
202510179349300731

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