Civic Intelligence

Rochester Education Foundation Inc.

990 • Fiscal year 2016 • EIN 27-0132133

Jan 01, 2016 to Dec 31, 2016 • Filed on Jun 05, 2017

250 Mill StreetRochester, NY 14614

(585) 271-5790

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

79th percentile

0.33x

Higher debt load relative to assets than 79% of similar nonprofits.

2016 filings • NTEE B • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

83rd percentile

0.30x

Higher debt load relative to revenue than 83% of similar nonprofits.

2016 filings • NTEE B • $500k-$1M nonprofits • Source year 2016

Net Margin

31st percentile

-2.3%

Higher net margin than 31% of similar nonprofits.

2016 filings • NTEE B • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

72nd percentile

$45,120

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 10.0% of source-year revenue.

2016 filings • NTEE B • $500k-$1M nonprofits • Source year 2016

Asset Growth

60th percentile

7.3%

Faster asset growth than 60% of similar nonprofits.

2016 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

33rd percentile

-5.5%

Faster revenue growth than 33% of similar nonprofits.

2016 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2015 to 2016

Assets

Up

$414,516

Up $28,173 (+7.3%) from 2015

Net Assets

Down

$279,760

Down $5,800 (-2.0%) from 2015

Liabilities

Up

$134,756

Up $33,973 (+34%) from 2015

Revenue

Down

$453,195

Down $26,258 (-5.5%) from 2015

Expenses

Down

$463,841

Down $20,186 (-4.2%) from 2015

Net Income

Down

-$10,646

Down $6,072 (-133%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.0M$500K$0Assets 2013: $351,952Liabilities 2013: $108,715Net Assets 2013: $243,2372013Assets 2014: $418,529Liabilities 2014: $124,099Net Assets 2014: $294,4302014Assets 2015: $386,343Liabilities 2015: $100,783Net Assets 2015: $285,5602015Assets 2016: $414,516Liabilities 2016: $134,756Net Assets 2016: $279,7602016Assets 2017: $274,846Liabilities 2017: $6,773Net Assets 2017: $268,0732017Assets 2018: $300,632Liabilities 2018: $2,839Net Assets 2018: $297,7932018Assets 2019: $339,162Liabilities 2019: $7,990Net Assets 2019: $331,1722019Assets 2020: $434,334Liabilities 2020: $3,430Net Assets 2020: $430,9042020Assets 2021: $626,047Liabilities 2021: $5,931Net Assets 2021: $620,1162021Assets 2022: $647,078Liabilities 2022: $1,570Net Assets 2022: $645,5082022Assets 2023: $564,331Liabilities 2023: $5,117Net Assets 2023: $559,2142023Assets 2024: $844,419Liabilities 2024: $215,776Net Assets 2024: $628,6432024

Highlighted filing

2016

Assets$414,516
Liabilities$134,756
Net Assets$279,760

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2013: $451,543Expenses 2013: $288,443Net Income 2013: $163,1002013Revenue 2014: $486,094Expenses 2014: $437,668Net Income 2014: $48,4262014Revenue 2015: $479,453Expenses 2015: $484,027Net Income 2015: -$4,5742015Revenue 2016: $453,195Expenses 2016: $463,841Net Income 2016: -$10,6462016Revenue 2017: $438,776Expenses 2017: $461,143Net Income 2017: -$22,3672017Revenue 2018: $379,340Expenses 2018: $343,484Net Income 2018: $35,8562018Revenue 2019: $397,212Expenses 2019: $366,793Net Income 2019: $30,4192019Revenue 2020: $444,536Expenses 2020: $353,425Net Income 2020: $91,1112020Revenue 2021: $625,646Expenses 2021: $441,855Net Income 2021: $183,7912021Revenue 2022: $566,644Expenses 2022: $493,720Net Income 2022: $72,9242022Revenue 2023: $202,563Expenses 2023: $289,352Net Income 2023: -$86,7892023Revenue 2024: $865,440Expenses 2024: $796,011Net Income 2024: $69,4292024

Highlighted filing

2016

Revenue$453,195
Expenses$463,841
Net Income-$10,646
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Jun 5, 2017
Return Version
2016v3.0
Gross Receipts
$508,621
Mission and Program Overview

Mission

The rochester education foundation is an independent organization whose mission is to provide programs and resources to improve learning and success for all rochester city school students through partnerships with educators, businesses and the community.

To provide programs and resources to support the success of Rochester city students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$43,209$203,860▲ $160,651
Investments in Publicly Traded Securities$94,480$103,731▲ $9,251
Cash and Non-Interest-Bearing Accounts$216,258$52,136▼ $164,122
Pledges and Grants Receivable-$42,305-
Inventories for Sale or Use$22,127$7,879▼ $14,248
Accounts Receivable$6,783--
Prepaid Expenses and Deferred Charges$1,570$3,230▲ $1,660
Land, Buildings, and Equipment, Net$1,041$500▼ $541
Total Assets$386,343$414,516▲ $28,173
Other Assets Total$875$875→ $0
Liabilities
Deferred Revenue$94,819$121,435▲ $26,616
Accounts Payable and Accrued Expenses$5,964$11,165▲ $5,201
Escrow Account Liability-$2,156-
Total Liabilities$100,783$134,756▲ $33,973
Net Assets / Fund Balance
Temporarily Rstr Net Assets$191,770$191,577▼ $193
Unrestricted Net Assets$93,790$88,183▼ $5,607
Total Net Assets Fund Balance$285,560$279,760▼ $5,800
Total Liabilities and Net Assets / Fund Balance$386,343$414,516▲ $28,173

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$500$749$1,249

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$25,295$180▲ $2,295$563$27,207
2015$26,013$821▼ $343$1,196$25,295
2014$25,000$150▲ $1,217$354$26,013
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Patricia BrausExecutive DirectorFT$45,120$45,120

Board Members and Trustees

NameTitle
George TsanisChair
Susan KaufmannVice Chair/Director
Diane MillerDirector
Elizabeth KonarDirector
Joseph LevyDirector
Laurie HaelenDirector
Lori FlorackDirector
Marshee LoveDirector
Patrice LancelotDirector
Ray Mitchell BulleneDirector
Kimberley CollinsDirector (1/16)
Karen BeckerDirector (1/16-6/16)
Julie CookDirector (9/16-12/16)
Sara M Kelly PHDDirector (9/16-12/16)
Kimberly McKinsey-MabryDean
Robert NealeSecretary
Anthony GreenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$296,693
Program Service Revenue
$150,655
Investment Income
$5,847
Other Revenue
$0
All Other Contributions
$252,292
Change in Net Assets
$-10,646

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table168$34,390
Books and Publications-$1,750
Total Noncash Contributions168$36,140

Audited Revenue Reconciliation

Revenue per Audited Statements
$453,195
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$8,946
Total Revenue per Audited Statements
$462,141
Total Revenue per Form 990
$453,195
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$323,060
Salaries, Compensation, and Employee Benefits$137,581
Total Fundraising Expense$27,243
Grants and Similar Amounts Paid$3,200
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$140,940$8,768$611$150,319
Other Salaries and Wages$53,437$10,335$11,469$75,241
Current Officers, Directors, Trustees, and Key Employees$29,328$6,768$9,024$45,120
Occupancy$8,081$1,273$1,857$11,211
Payroll Taxes$6,331$1,308$1,568$9,207
Other Employee Benefits$6,254$724$1,035$8,013
Office Expenses$3,285$537$784$4,606
Information Technology$2,706$1,398-$4,104
Fees for Services Accounting-$3,804-$3,804
All Other Expenses$2,534$469$659$3,662
Grants to Domestic Individuals$3,000--$3,000
Other Expenses$2,715--$2,715
Insurance$949$812$236$1,997
Fees for Service Investment Mgmnt Fees-$763-$763
Depreciation Depletion-$541-$541
Grants to Domestic Orgs$200--$200
Total Functional Expenses$399,098$37,500$27,243$463,841

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$467,941
Expenses per Audited Statements$463,841
Total Expenses per Form 990$463,841
Expenses Not Reported on Form 990$4,100
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$11,286
Fundraising Gross Income$11,286
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Recognition Event$49,863$11,286$257$11,029
Total Events$49,863$11,286$11,286$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

A complete copy of the 990 will be emailed to all board members. All board members will have an opportunity to comment and pose questions before the 990 is filed.

Form 990, Part VI, Section B, line 12C

The organization provides each officer and director with the conflict of interest policy when they are elected or appointed. The policy is also reviewed annually. If a potential conflict with any officer or director arises, the organization follows the conflict of interest policy and documents that in the meeting minutes.

Form 990, Part VI, Section B, line 15

The process for determining the compensation of the organization's Executive Director included a packet presented by the Treasurer which included proposed salary increases and documented comparative salaries at similar organizations. The salary increase was approved by the full board. There were no other compensated key employees.

Form 990, Part VI, Section C, line 19

The Organization makes its governing documents, conflict of interest policy and financial statements available upon request.

Filing and Contact Details

Filer

Filer Name
Rochester Education Foundation Inc
EIN
27-0132133
Phone
5852715790
Address
250 Mill Street, Rochester, NY 14614

Signing Officer

Name
Patricia Braus
Title
Executive Director
Phone
5852715790
Signed
2017-06-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Patricia Braus
Formed
2005
Legal Domicile
Ny
Voting Board Members
15
Independent Board Members
15
Employees
5
Volunteers
181

Preparer

Firm
Heveron & Company CPAs PLLC
Address
260 Plymouth Avenue South, Rochester, NY 14608
Preparer
Stephanie Annunziata
Phone
5852322956
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

Project Coordinators: Program service expenses 135,069. Management and general expenses 0. Fundraising expenses 0. Total expenses 135,069. Other Professional Services: Program service expenses 5,871. Management and general expenses 8,768. Fundraising expenses 611. Total expenses 15,250.

Financial Statement Notes

Part IV, Line 2B:

The organization has funds held for others, specifically for the World of Work Conference.

Part V, Line 4:

To support the organization's mission

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IRS990/Form990PartVIISectionAGrp/PersonNm2Joseph Levy
IRS990/Form990PartVIISectionAGrp/PersonNm3Elizabeth Konar
IRS990/Form990PartVIISectionAGrp/PersonNm4Marshee Love
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IRS990/Form990PartVIISectionAGrp/PersonNm7Diane Miller
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IRS990/Form990PartVIISectionAGrp/PersonNm10George Tsanis
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IRS990/Form990PartVIISectionAGrp/PersonNm12Anthony Green
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IRS990/Form990PartVIISectionAGrp/PersonNm14Julie Cook
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IRS990/Form990PartVIISectionAGrp/PersonNm17Patricia Braus
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IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director (9/16-12/16)
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director (9/16-12/16)
IRS990/Form990PartVIISectionAGrp/TitleTxt16Dean
IRS990/Form990PartVIISectionAGrp/TitleTxt17Executive Director
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IRS990/MissionDesc0The Rochester Education Foundation is an independent organization whose mission is to provide programs and resources to improve learning and success for all Rochester city public school students through partnerships with educators, businesses and the community.
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IRS990/OtherExpensesGrp/Desc2Instruments
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IRS990/PrincipalOfficerNm0Patricia Braus
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IRS990/ProgSrvcAccomActy2Grp/Desc0Give Back, Give Books: The Organization supports student book clubs, parent-student reading events and a wide range of literacy projects for city students through Teachers' Choice, a program within Give Back, Give Books. The organization has given more than 39,000 new books to city students for reading activities in class and to enjoy at home since 2006. In 2016 REF provided up to 200 new books to 48 educators at 21 city schools. Books are then given to students for their home libraries.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt064224
IRS990/ProgSrvcAccomActy3Grp/Desc0Spring for Music Opportunities. This program provides city students with opportunities to play, perform and excel in the field of music. The Organization collected and donated 168 musical instruments for city students in 2016, bringing the total of musical instruments donated since the program launch in 2005 to 1,468. The Organization also supported opportunities for students to perform in the All City Concert and the Holiday Chorale Concert at the Eastman Theatre. In addition, the Organization supported music scholarships for summer music lessons, and the purchase of instruments so college-bound students can audition and receive scholarships. Lastly, the Organization supported student attendance at professional music concerts in the Eastman School of Music series.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt011333
IRS990/ProgSrvcAccomActyOtherGrp/Desc0College Access: Through the Organization's college access collaborative, Rochester College Access Network (RCAN), the Organization has worked with colleges and universities, community organizations, businesses and individuals to provide information, guidance and activities so that more Rochester city students can go to college - and reach their full potential. In 2015 the Organization launched FAFSA Fest, a series of community events where students and a parent receive free help filling out and submitting the Free Application for Federal Student Aid. The Organization also supported 10th grade college visits for city students, and the development of a special website to help students apply to college (RochesterCAN.org).Other Programs: The Organization provides valuable summer reading and other resources to students at Dr. Walter Cooper Academy School No. 10, helps students discover the great outdoors with clubs at Wilson High School and the World of Inquiry School, and supports student internships.These programs are primarily supported through contributions.
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IRS990ScheduleA/PublicSupportPY170Pct00.91490

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