Rochester Area Community Foundation Depository Inc

Nonprofit profile at a glance

EIN
223106737
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Rochester, NY, USA
Phone
5852714100
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community Foundations

Official website

Reported finances

Revenue
$3,775,811
Expenses
$3,914,356
Assets
$5,358,418
Liabilities
$53,911

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

30 people listed

Executive titles in this filing

  • SIMEON BANISTER (PRESIDENT AND CEO)

Highest reported compensation

  • SIMEON BANISTER (PRESIDENT AND CEO): $328,512 total reported compensation
  • AMY S VARS CPA (SENIOR VP AND CFO): $260,286 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

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.

What it reported doing in 2024

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. 828 organizations served during the fiscal year.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 64
  • Accountability: 100
  • Sustainability: 44
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.2%; rating input score 97
  • Program expense ratio: 93.7%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 10th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 78%; rating input score 78; 21st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -3.7%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 1.37; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 85; 85th percentile among comparable filings
  • Officer compensation ratio: 0.7%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -3.6% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: 2.3% per year; rating input score 100; 22nd percentile among comparable filings
  • Asset growth: -4.6% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 97.2% of revenue deployed · 93.7% of spending went to programs
  • Governance: 28 of 28 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.7M in reported program spending
  • Leadership: top reported pay $329K · 30 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 130 filed money-flow records
  • Related organizations: 133 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 23/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.