Grhs Foundation Inc
- Assets
- $147.5m
- Revenue
- $43.5m
- Investments
- $0.0
- Employees
- 132
- Location
- Rochester, NY
- Founding
- 11/1995
- Data as of
- 12/2022
- EIN
- 22-3378111
Organization Overview
Grhs Foundation Inc is located in Rochester, NY. The organization was established in 1995. According to its NTEE Classification (S50) the organization is classified as: Nonprofit Management, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Grhs Foundation Inc employed 132 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grhs Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Grhs Foundation Inc generated $43.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $42.6m during the year ending 12/2022. While expenses have increased by 11.6% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY TO BENEFIT THE AFFILIATES OF ROCHESTER REGIONAL HEALTH.
Describe the Organization's Program Activity:
OPERATING REAL PROPERTY INVESTMENTS, INCLUDING MEDICAL/OFFICE BUILDINGS, A PARKING GARAGE, APARTMENTS, AND PARCELS OF LAND, AS WELL AS MAINTAINING FINANCIAL INVESTMENTS ON BEHALF OF AFFILIATES.
AMBULATORY SURGERY CENTER
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Riedman Board Chair | OfficerTrustee | 1 | $0 |
Richard Davis PHD CEO | OfficerTrustee | 1 | $23,527 |
Michael Nuccitelli Director | Trustee | 1 | $0 |
Thomas Crilly CFO | Officer | 1 | $24,236 |
Hugh Thomas Cao | Officer | 1 | $26,619 |
Jeffrey Peacock Sr. Director, Ambulatory Surgery | 40 | $263,755 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $43,826,976 |
| Investment income | $7,979 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $43,547,365 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $67,700 |
| Compensation of current officers, directors, key employees. | $9,945 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,891,865 |
| Pension plan accruals and contributions | $66,024 |
| Other employee benefits | $739,834 |
| Payroll taxes | $310,455 |
| Fees for services: Management | $1,256,444 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,131 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,802,002 |
| Advertising and promotion | $4 |
| Office expenses | $293,683 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,632,611 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,000 |
| Interest | $4,314,659 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,310,474 |
| Insurance | $172 |
| All other expenses | $20,730 |
| Total functional expenses | $42,579,855 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,205,048 |
| Savings and temporary cash investments | $45,515 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,765,922 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $811,073 |
| Prepaid expenses and deferred charges | $629,525 |
| Net Land, buildings, and equipment | $128,878,693 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $23,929 |
| Other assets | $14,143,434 |
| Total assets | $147,503,139 |
| Accounts payable and accrued expenses | $3,106,670 |
| Grants payable | $0 |
| Deferred revenue | -$79,606 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $31,847 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $87,974,246 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $25,121,522 |
| Total liabilities | $116,154,679 |
| Net assets without donor restrictions | $31,348,460 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $147,503,139 |