Rochesterworks Inc

Analysis

Rochesterworks Inc is a registered charity in United States, based in Rochester, NY. It received its IRS tax-exemption ruling in June 2004, 22 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Rochesterworks Inc reported income of $8.3m and spending of $8.2m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $8.6m to $8.3m (-4.4%), an average of -1.1% a year. The sharpest change came in the year to June 2021, when income dropped by 17%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Rochesterworks Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include The Center for Kentucky Rural Economic Development Inc ($8.3m), Employment Development Services Inc ($8.3m) and Willamette Workforce Partnership ($8.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $283k (3.4% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $1.7m against liabilities of $1.1m, net assets of $547k. It reported 62 employees.