Rochester Area Foundation

Analysis

Rochester Area Foundation is a registered charity in United States, based in Rochester, MN. It received its IRS tax-exemption ruling in July 1949, 77 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 December 2023, Rochester Area Foundation reported income of $15.9m and spending of $6.4m, leaving 60% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $8.8m to $15.9m (+80%), an average of +16% a year. The sharpest change came in the year to December 2023, when income rose by 98%. Over the whole period it spent 57% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Rochester Area Foundation sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MN. Charities of a similar size with the same main cause include Brothers Communities and Ministries Investment Trust ($15.9m), Harrison County Community Foundation Support Organ Inc ($15.9m) and Community Foundation for Mississippi ($15.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 2.8% of the total. Compensation of current officers, directors and key employees was $122k (1.9% of expenses). Other salaries and wages came to $548k. At year end it held assets of $61.1m against liabilities of $3.3m, net assets of $57.8m. It reported 12 employees.