Rochester Area Community Foundation
- Assets
- $325.7m
- Revenue
- $38.0m
- Investments
- $118.2m
- Employees
- 37
- Location
- Rochester, NY
- Founding
- 09/1972
- Data as of
- 03/2020
- EIN
- 23-7250641
Organization Overview
Rochester Area Community Foundation is located in Rochester, NY. The organization was established in 1972. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 03/2021, Rochester Area Community Foundation employed 37 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 03/2020, Rochester Area Community Foundation generated $38.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.3%) each year. All expenses for the organization totaled $30.6m during the year ending 03/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Rochester Area Community Foundation has awarded 1,492 individual grants totaling $42,273,851. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD A PERMANENT COMMUNITY ENDOWMENT THAT MEETS THE CURRENT AND CHANGING NEEDS OF THIS REGION THROUGH CREATIVE AND EFFECTIVE PHILANTHROPY.
Describe the Organization's Program Activity:
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 1804 AGENCIES AND INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Leonard President And CEO | Officer | 34 | $322,174 |
Amy Vars CPA Senior VP And CFO | Officer | 34 | $171,545 |
Mary Holleran Senior VP Of Communication | 34 | $118,419 | |
Karen Koons Sr. Director Of Finance | 38 | $107,294 | |
Michelle A Hutchinson ESQ Secretary | OfficerTrustee | 2 | $0 |
Kim Vangelder Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,895,423 |
| Investment income | $3,410,216 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,933,442 |
| Net Income from Fundraising Events | -$16,223 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $37,972,503 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $882,063 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $604,122 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,982,440 |
| Pension plan accruals and contributions | $75,971 |
| Other employee benefits | $301,531 |
| Payroll taxes | $148,436 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $258,645 |
| Fees for services: Accounting | $47,140 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $285,772 |
| Fees for services: Other | $290,868 |
| Advertising and promotion | $126,370 |
| Office expenses | $124,539 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $182,105 |
| Travel | $7,827 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $66,076 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,048 |
| Insurance | $69,706 |
| All other expenses | $0 |
| Total functional expenses | $30,649,438 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $7,429,964 |
| Pledges and grants receivable | $5,079,929 |
| Accounts receivable, net | $1,275 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $392,622 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $150,883 |
| Investments—publicly traded securities | $185,395,666 |
| Investments—other securities | $118,220,857 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,892,864 |
| Total assets | $325,660,276 |
| Accounts payable and accrued expenses | $423,287 |
| Grants payable | $391,307 |
| Deferred revenue | $63,960 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $876,913 |
| Total liabilities | $1,755,467 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $323,904,809 |
Grants Awarded
Over the last fiscal year, Rochester Area Community Foundation has awarded $20,922,941 in support to 694 organizations.
| Grant Recipient | Amount |
|---|---|
New Bedford, MA PURPOSE: SUPPORT THE GOALS AND OBJECTIVES OF BBC | $900,000 |
Rochester, NY PURPOSE: RECONSTRUCTION OF THE CHILDREN'S PAVILION | $609,666 |
Geneseo, NY PURPOSE: FOR GENERAL SUPPORT | $584,000 |
Rochester, NY PURPOSE: FOR GENERAL SUPPORT, FACULTY SUPPORT CAMPAIGN | $552,410 |
Rochester, NY PURPOSE: FOR GENERAL SUPPORT | $487,610 |
Rochester, NY PURPOSE: RESEARCH PROJECTS RELATING TO MENTAL HEALTH OR ILLNESS | $441,886 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Rochester Area Community Foundation has recieved totaling $2,571,801.
| Awarding Organization | Amount |
|---|---|
Gannett Foundations Inc Mclean, VA PURPOSE: CHARITABLE PURPOSE | $1,676,000 |
Strivetogether Inc Cincinnati, OH PURPOSE: Challenge Fund | $399,252 |
Esl Charitable Foundation Inc Rochester, NY PURPOSE: EDUCATION | $350,000 |
Avangrid Foundation Inc Orange, CT PURPOSE: COMMUNITY PROGRAMS | $100,000 |
Van Der Stricht Foundation Wilmington, DE PURPOSE: ORGANIZATION'S GENERAL | $15,049 |
Joan & Harold Feinbloom Supporting Foundation Inc Rochester, NY PURPOSE: TO SUPPORT RACIAL EQUITY PROGRAMMING | $15,000 |
Endowment Analysis
| Beg. Balance | $307,133,430 |
| Earnings | -$33,772,529 |
| Admin Expense | $4,491,849 |
| Net Contributions | $10,193,364 |
| Other Expense | $2,143,944 |
| Grants | $12,293,863 |
| Ending Balance | $264,624,609 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fund For The City Of New York Inc New York, NY | $150,667,930 | $97,537,375 |
Pittsburgh Foundation Pittsburgh, PA | $1,226,779,411 | $88,473,154 |
Community Foundation Of New Jersey Morristown, NJ | $530,172,076 | $121,914,293 |
Hartford Foundation For Public Giving Hartford, CT | $1,063,228,767 | $86,652,679 |
Community Foundation For Greater New Haven New Haven, CT | $645,643,145 | $61,621,081 |
Community Foundation For Greater Buffalo Inc Buffalo, NY | $567,602,647 | $60,605,250 |
Philadelphia Foundation Philadelphia, PA | $414,429,037 | $79,448,283 |
Federation Of Jewish Communities Of The C I S Inc New York, NY | $26,629,624 | $39,688,864 |
Jewish Community Foundation Of Greater Metrowest Nj Whippany, NJ | $359,660,040 | $29,115,427 |
Catholic Charities Of Buffalo Buffalo, NY | $40,602,638 | $30,165,350 |
Rochester Area Community Foundation Rochester, NY | $325,660,276 | $37,972,503 |
Vermont Community Foundation Middlebury, VT | $290,175,712 | $31,495,825 |