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Nonprofiteer
← ROCHESTER AREA COMMUNITY FOUNDATION DEPOSITORY INC

Form 990 for tax year 2022

Filed by ROCHESTER AREA COMMUNITY FOUNDATION DEPOSITORY INC.

Totals

Total revenue
$3,128,482
Total expenses
$3,478,607
Contributions and grants received
$3,069,152
Grants paid
$3,397,590
Program service revenue
$0
Investment income
$59,330
Other revenue
$0
Total assets, end of year
$5,760,315
Total liabilities, end of year
$754
Net assets or fund balances, end of year
$5,759,561
Program services expenses (Part IX)
$3,397,590
Management and general expenses
$81,017
Fundraising expenses
$0
Program service expenses (Part III)
$3,397,590

Program services were 97.7% 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

    $3,069,152

  • 1g · Noncash contributions included above

    $1,404,100

  • 3 · Investment income

    total $66,544 · excluded $66,544

  • 7a · Gross sales of assets other than inventory

    securities $1,044,487

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

    securities $1,051,701

  • 7c · Gain or loss

    securities -$7,214

  • 7d · Net gain or loss

    total -$7,214 · excluded -$7,214

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,397,590 · program services $3,397,590

  • 11a · Fees: management

    total $55,644 · management and general $55,644

  • 11c · Fees: accounting

    total $2,000 · management and general $2,000

  • 11f · Fees: investment management

    total $23,098 · management and general $23,098

  • 24a · Other expenses: OTHER FEES

    total $275 · management and general $275

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $13,741 · end of year $0

  • 12 · Investments: other securities

    beginning of year $6,093,613 · end of year $5,737,098

  • 15 · Other assets

    beginning of year $2,865 · end of year $23,217

  • 17 · Accounts payable and accrued expenses

    beginning of year $533 · end of year $754

  • 28 · Net assets with donor restrictions

    beginning of year $6,109,686 · end of year $5,759,561

Mission and programs · 2022

Mission

TO PROVIDE GRANTS TO 501(C)(3) PUBLIC CHARITIES EXEMPT UNDER IRC SECTION 509(A)(1),(2) OR (3) WHEREBY DONORS CHOOSE ORGANIZATIONS BASED ON CHARITABLE, EDUCATIONAL OR COMMUNITY PURPOSES IN FURTHERANCE OF THEIR EXEMPT MISSIONS.

Activities or mission (Part I)

TO PROVIDE GRANTS TO 501(C)(3)PUBLIC CHARITIES, EXEMPT UNDER IRC 509(A)(1),(2) AND (3) WHEREBY DONORS CHOOSE ORGANIZATIONS BASED ON CHARITABLE, EDUCATIONAL, OR COMMUNITY PURPOSES IN FURTHERANCE OF THEIR EXEMPT MISSIONS.

  • TO PROVIDE GRANTS TO 501(C)(3) PUBLIC CHARITIES EXEMPT UNDER IRC SECTION 509(A)(1),(2) OR (3) WHEREBY DONORS CHOOSE ORGANIZATIONS BASED ON CHARITABLE, EDUCATIONAL OR COMMUNITY PURPOSES IN FURTHERANCE OF THEIR EXEMPT MISSIONS. 868 ORGANIZATIONS SERVED DURING THE FISCAL YEAR.

    Expenses $3,397,590 · Grants $3,397,590

As filed on the 2022 return.

Listed in Part VII

  • Patrick Cunningham

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Thomas C Mitchell

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Adam P Anolik

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Fred A Beer

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ann H Stevens

    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

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Carolyn G Nussbaum Esq

    COUNSEL

    Total calculated
    $0
    Hours/week
    1

  • Abigail A Reinhard

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Michelle A Hutchinson Esq

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mollene B Benison CPA

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Abigail J Bennett

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • R Scott Burdett

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Francis J Clement

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Arline L Bayo Santiago Esq

    MEMBER

    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

  • Ann H McMullen

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • James H Norman

    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

  • Gina A Cuyler MD

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mark A Eidlin

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sujatha Ramanujan

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Alyssa S Whitfield

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Thomas S Richards

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Leonard

    PRESIDENT AND CEO

    Total calculated
    $615,857
    From this org
    $0
    From related orgs
    $587,333
    Other
    $28,524
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $579,198 related
    Bonus
    $0
    Other
    $0 + $8,135 related
    Deferred
    $0 + $14,243 related
    Nontaxable benefits
    $0 + $14,281 related
    Filer's total
    $0 + $615,857 related

  • Amy S Vars CPA

    SENIOR VP AND CFO

    Total calculated
    $217,292
    From this org
    $0
    From related orgs
    $206,598
    Other
    $10,694
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $205,834 related
    Bonus
    $0
    Other
    $0 + $764 related
    Deferred
    $0 + $10,180 related
    Nontaxable benefits
    $0 + $514 related
    Filer's total
    $0 + $217,292 related

  • Simeon Banister

    PRESIDENT AND CEO

    Total calculated
    $247,344
    From this org
    $0
    From related orgs
    $235,144
    Other
    $12,200
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $219,444 related
    Bonus
    $0
    Other
    $0 + $15,700 related
    Deferred
    $0 + $11,228 related
    Nontaxable benefits
    $0 + $972 related
    Filer's total
    $0 + $247,344 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
  • 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

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PAGE 3, PART III
ROCHESTER AREA COMMUNITY FOUNDATION (RACF), A RELATED ORGANIZATION, WAS RESPONSIBLE FOR PAYING THE COMPENSATION FOR RACF DEPOSITORY, INC.'S FORMER PRESIDENT AND CEO, INCLUDING THE RESPECTIVE HEALTH OR SOCIAL CLUB DUES, AS WELL AS THE COMPENSATION OF THE PRESIDENT AND CEO AND SENIOR VICE PRESIDENT AND CFO. THE FOLLOWING WAS USED BY RACF WHEN DETERMINING THE 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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
18 January 2024
IRS schema version
2022v5.0
Source object
202410249349300631

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

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