Greater Rochester Enterprise Foundation Inc

Analysis

Greater Rochester Enterprise Foundation Inc is a registered charity in United States, based in Rochester, NY. It received its IRS tax-exemption ruling in November 2002, 24 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Greater Rochester Enterprise Foundation Inc reported income of $1.9m and spending of $2.0m, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $1.9m (+25%), an average of +5.8% a year. The sharpest change came in the year to December 2022, when income rose by 17%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Greater Rochester Enterprise Foundation Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 82nd percentile within NY. Charities of a similar size with the same main cause include Shepherd University Foundation Supporting Organization ($1.9m), Jersey City Economic Development Corporation ($1.9m) and Hancock County Sheltered Workshop Inc ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $352k. At year end it held assets of $365k against liabilities of $100k, net assets of $265k.