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ROCHESTER AREA FOUNDATION
ROCHESTER, NY · EIN 161539889 · Form 990 · FY2024 · NTEE T11 · Philanthropy & Grantmaking · Small ($100K-$1M)
revenue
$173K
expenses
$161K
net assets
$160K
employees
0
volunteers
18
program ratio
100%
mission · from form 990

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.

profile · synthesized from sources

Rochester Area Foundation is a New York-based nonprofit that holds and manages real estate assets on behalf of affiliated organizations, particularly the Rochester Area Community Foundation. Its primary activity involves receiving, holding, and converting real estate gifts that would otherwise go to the community foundation. The organization generated $950,000 in program revenue in 2023 from the sale of a life estate.

irs program accomplishments · form 990 part iii · fy2023

What they reported doing

  1. #1 primary $0
    RECEIVE, HOLD AND CONVERT REAL ESTATE GIFTS THAT OTHERWISE WOULD HAVE BEEN RECIEVED BY ROCHESTER AREA COMMUNITY FOUNDATION. DURING THE YEAR, THE ORGANIZATION EXECUTED A SALES CONTRACT FOR THE LIFE ESTATE IT PREVIOUSLY MAINTAINED ON BEHALF OF THE ROCHESTER AREA COMMUNITY FOUNDATION.
named programs · 1 · from sources

What they call their work

Real Estate Stewardship
Receive, hold, and convert real estate gifts intended for the Rochester Area Community Foundation, including management and disposition of life estates and other real property interests.
activities · 1 group

What they do

  • Nonprofit Real Estate Holding 2 activities
    • Managing and liquidating real estate gifts for the Rochester Area Community Foundation
      Receives, holds, and converts real estate gifts on behalf of the Rochester Area Community Foundation, including executing sales contracts for life estates as part of its charitable asset management function.
    • Providing rental space to affiliated and exempt organizations
      Provides rental space to affiliated and other exempt organizations as part of its operational infrastructure support activities.
financials · form 990 · fy2024
revenue
Total revenue$173K
Contributions & grants$00%
Program service revenue$173K100%
Investment income$00%
Other revenue$0
expenses
Total expenses$161K
Program expenses100%
Admin / overhead0%
Fundraising0%
Salaries & benefits$0
Grants paid out$0
Largest expense lineFacilities
balance sheet
Total assets$420K
Cash$0
Investments$0
Liabilities$260K
Net assets$160K
Liquid reserves0.0 mo
5 years on record · 2020–2024 · YoY revenue -84.8%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 2
NameTitleHours/wkCompensation
SIMEON BANISTER VICE PRESIDENT AND CEO 1 $329K
AMY S VARS CPA SENIOR VP AND CFO 1 $260K
board members · 18
  • ABIGAIL A REINHARD — MEMBER
  • ABIGAIL J BENNETT — MEMBER
  • ADAM P ANOLIK — TREASURER
  • ANN H MCMULLEN — MEMBER
  • ARLINE L BAYO SANTIAGO ESQ — MEMBER
  • CAROLYN G NUSSBAUM ESQ — COUNSEL
  • DAVID P VENISKEY CPA — MEMBER
  • DAVID R FERRIS ESQ — CHAIR
  • DR WILLIAM M VALENTI — MEMBER
  • FLOR M COLON — SECRETARY
  • FRANCIS J CLEMENT — MEMBER
  • JAMES H NORMAN — MEMBER
  • MARK A EIDLIN — MEMBER
  • MOLLENE B BENISON CPA — MEMBER
  • PATRICK CUNNINGHAM — MEMBER
  • R SCOTT BURDETT — MEMBER
  • RICHARD J RIEDMAN — MEMBER
  • TODD BUTLER — MEMBER
relationships · 1

Who they work with

  • Rochester Area Community Foundation Partner — Holds and converts real estate gifts on behalf of this organization and maintains a life estate relationship.