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Nonprofiteer
← ROCHESTER AREA FOUNDATION

Form 990 for tax year 2024

Filed by ROCHESTER AREA FOUNDATION.

Totals

Total revenue
$173,000
Total expenses
$161,375
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$173,000
Investment income
$0
Other revenue
$0
Total assets, end of year
$420,127
Total liabilities, end of year
$260,270
Net assets or fund balances, end of year
$159,857
Program services expenses (Part IX)
$160,615
Management and general expenses
$760
Fundraising expenses
$0
Program service expenses (Part III)
$160,615

Program services were 99.5% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $173,000 · related or exempt $173,000

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $500 · management and general $500

  • 16 · Occupancy

    total $121,578 · program services $121,578

  • 20 · Interest

    total $5,854 · program services $5,854

  • 22 · Depreciation, depletion and amortization

    total $33,183 · program services $33,183

  • 24a · Other expenses: OTHER FEES

    total $260 · management and general $260

Balance sheet

Part X, book values.

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,300 · end of year $2,076

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

    $1,332,575

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

    $914,524

  • 10c · Land, buildings and equipment, net

    beginning of year $426,732 · end of year $418,051

  • 17 · Accounts payable and accrued expenses

    beginning of year $15,554 · end of year $15,331

  • 25 · Other liabilities

    beginning of year $262,463 · end of year $244,939

  • 27 · Net assets without donor restrictions

    beginning of year $151,015 · end of year $159,857

Mission and programs · 2024

Mission

PROVIDE RENTAL SPACE TO AFFILIATED AND EXEMPT ORGANIZATIONS AND TO RECEIVE AND HOLD REAL ESTATE THAT OTHERWISE WOULD HAVE BEEN RECEIVED BY ROCHESTER AREA COMMUNITY FOUNDATION.

  • PROVIDING RENTAL SPACE TO AFFILIATED AND EXEMPT ORGANIZATIONS. THE ENTIRE BUILDING, WHICH IS APPROXIMATELY 11,000 SQUARE FEET, IS LEASED TO 1 NON-PROFIT TENANT.

    Expenses $160,615 · Revenue $173,000

As filed on the 2024 return.

Listed in Part VII

  • Abigail A Reinhard

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Abigail J Bennett

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Adam P Anolik

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Ann H McMullen

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Arline L Bayo Santiago Esq

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Carolyn G Nussbaum Esq

    COUNSEL

    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
    1

  • Dr William M Valenti

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Flor M Colon

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Francis J Clement

    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
    1

  • Mollene B Benison CPA

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • R Scott Burdett

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Richard J Riedman

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Todd Butler

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Patrick Cunningham

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Amy S Vars CPA

    SENIOR VP AND CFO

    Total calculated
    $260,286
    From this org
    $0
    From related orgs
    $247,491
    Other
    $12,795
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $246,585 related
    Bonus
    $0
    Other
    $0 + $906 related
    Deferred
    $0 + $12,245 related
    Nontaxable benefits
    $0 + $550 related
    Filer's total
    $0 + $260,286 related

  • Simeon Banister

    VICE PRESIDENT AND CEO

    Total calculated
    $328,512
    From this org
    $0
    From related orgs
    $312,105
    Other
    $16,407
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $301,150 related
    Bonus
    $0
    Other
    $0 + $10,955 related
    Deferred
    $0 + $15,332 related
    Nontaxable benefits
    $0 + $1,075 related
    Filer's total
    $0 + $328,512 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

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses

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 1, PART I, LINE 3
ROCHESTER AREA COMMUNITY FOUNDATION (RACF), A RELATED ORGANIZATION, WAS RESPONSIBLE FOR PAYING THE COMPENSATION AND THE RESPECTIVE HEALTH AND SOCIAL CLUB DUES OF THE ORGANIZATION'S VICE PRESIDENT AND CEO AND SENIOR VICE PRESIDENT AND CFO. THE FOLLOWING WAS USED BY RACF WHEN DETERMINING THE VICE 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

No itemized grants to organizations 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
2024
Filed
16 January 2026
IRS schema version
2024v5.5
Source object
202610219349300531

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