Civic Intelligence

First Homes Properties

990 • Fiscal year 2015 • EIN 41-2004557

Jan 01, 2015 to Dec 31, 2015 • Filed on Jun 22, 2016

12 Elton Hills Drive NWRochester, MN 55901

(507) 287-7117

Siviq Scores

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

Liabilities / Assets

27th percentile

0.06x

Higher debt load relative to assets than 27% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

69th percentile

0.57x

Higher debt load relative to revenue than 69% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

97th percentile

82%

Higher net margin than 97% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

50th percentile

$172,194

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 15.6% of source-year revenue.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

27th percentile

-2.9%

Faster asset growth than 27% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

97th percentile

161%

Faster revenue growth than 97% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Assets

Down

$10,579,354

Down $320,939 (-2.9%) from 2014

Net Assets

Up

$9,951,599

Up $910,098 (+10%) from 2014

Liabilities

Down

$627,755

Down $1,231,037 (-66%) from 2014

Revenue

Up

$1,104,880

Up $682,261 (+161%) from 2014

Expenses

Down

$194,782

Down $31,282 (-14%) from 2014

Net Income

Up

$910,098

Up $713,543 (+363%) from 2014

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2011: $15,083,974Liabilities 2011: $6,292,848Net Assets 2011: $8,791,1262011Assets 2012: $13,496,434Liabilities 2012: $4,827,129Net Assets 2012: $8,669,3052012Assets 2013: $11,363,335Liabilities 2013: $2,518,389Net Assets 2013: $8,844,9462013Assets 2014: $10,900,293Liabilities 2014: $1,858,792Net Assets 2014: $9,041,5012014Assets 2015: $10,579,354Liabilities 2015: $627,755Net Assets 2015: $9,951,5992015Assets 2016: $10,368,953Liabilities 2016: $322,187Net Assets 2016: $10,046,7662016Assets 2017: $10,125,923Liabilities 2017: $99,994Net Assets 2017: $10,025,9292017Assets 2018: $10,407,000Liabilities 2018: $327,983Net Assets 2018: $10,079,0172018Assets 2019: $10,391,411Liabilities 2019: $365,718Net Assets 2019: $10,025,6932019Assets 2020: $15,451,628Liabilities 2020: $3,215,771Net Assets 2020: $12,235,8572020Assets 2021: $16,429,710Liabilities 2021: $3,010,911Net Assets 2021: $13,418,7992021Assets 2022: $17,370,195Liabilities 2022: $3,661,788Net Assets 2022: $13,708,4072022Assets 2023: $20,946,653Liabilities 2023: $5,965,354Net Assets 2023: $14,981,2992023Assets 2024: $19,924,240Liabilities 2024: $3,926,951Net Assets 2024: $15,997,2892024

Highlighted filing

2015

Assets$10,579,354
Liabilities$627,755
Net Assets$9,951,599

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $811,5222011Expenses 2012: $793,5722012Revenue 2013: $587,054Expenses 2013: $411,413Net Income 2013: $175,6412013Revenue 2014: $422,619Expenses 2014: $226,064Net Income 2014: $196,5552014Revenue 2015: $1,104,880Expenses 2015: $194,782Net Income 2015: $910,0982015Revenue 2016: $365,206Expenses 2016: $270,039Net Income 2016: $95,1672016Revenue 2017: $512,810Expenses 2017: $533,647Net Income 2017: -$20,8372017Revenue 2018: $593,818Expenses 2018: $540,730Net Income 2018: $53,0882018Revenue 2019: $374,753Expenses 2019: $428,077Net Income 2019: -$53,3242019Revenue 2020: $2,160,519Expenses 2020: $1,217,281Net Income 2020: $943,2382020Revenue 2021: $2,175,189Expenses 2021: $992,247Net Income 2021: $1,182,9422021Revenue 2022: $1,361,871Expenses 2022: $1,072,263Net Income 2022: $289,6082022Revenue 2023: $1,865,211Expenses 2023: $992,319Net Income 2023: $872,8922023Revenue 2024: $2,969,106Expenses 2024: $1,953,116Net Income 2024: $1,015,9902024

Highlighted filing

2015

Revenue$1,104,880
Expenses$194,782
Net Income$910,098
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Jun 22, 2016
Return Version
2015v2.1
Gross Receipts
$1,104,880
Mission and Program Overview

Mission

To provide opportunities for low and moderate income households in southeastern minnesota counties to secure housing that is decent and affordable and to make loans to low and moderate income households for housing purposes.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$308,864$305,802▼ $3,062
Land, Buildings, and Equipment, Net$422,462$245,203▼ $177,259
Cash and Non-Interest-Bearing Accounts$124,089$141,425▲ $17,336
Accounts Receivable$4,900$4,810▼ $90
Total Assets$10,900,293$10,579,354▼ $320,939
Other Assets Total$10,039,978$9,882,114▼ $157,864
Liabilities
Mortgage Notes Payable Secured by Investment Property$848,266$567,686▼ $280,580
Accounts Payable and Accrued Expenses$10,030$34,873▲ $24,843
Other Liabilities$1,000,496$25,196▼ $975,300
Total Liabilities$1,858,792$627,755▼ $1,231,037
Net Assets / Fund Balance
Temporarily Rstr Net Assets$9,041,501$9,951,599▲ $910,098
Total Net Assets Fund Balance$9,041,501$9,951,599▲ $910,098
Total Liabilities and Net Assets / Fund Balance$10,900,293$10,579,354▼ $320,939

Asset Categories

AssetBook ValueDepreciationBasis
Land$245,038--
Equipment$165$36,658-
Other Assets Org$1,857,083--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joann Stormer-related Org CompExecutive DirectorFT$144,573$27,621$172,194

Board Members and Trustees

NameTitle
Jose RivasChair
Natalie JonesVice Chair
Karli McelroyTrustee
Lou OhlyTrustee
Jamie LedentSecretary
Umbelina CremerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$951,416
Program Service Revenue
$137,965
Investment Income
$15,499
Other Revenue
$0
All Other Contributions
$951,416
Change in Net Assets
$910,098

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,104,880
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$1,019,975
Total Revenue per Audited Statements
$2,124,855
Total Revenue per Form 990
$1,104,880
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$112,472
Other Expenses$82,310
Total Fundraising Expense$3,130
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$59,506$19,991$1,877$81,374
Current Officers, Directors, Trustees, and Key Employees$22,742$7,103$1,253$31,098
Interest-$12,632-$12,632
Occupancy$8,359$3,071-$11,430
Fees for Services Other-$11,372-$11,372
Office Expenses$7,812$2,871-$10,683
Advertising-$4,035-$4,035
Insurance-$3,962-$3,962
Conferences and Meetings-$2,298-$2,298
Travel-$1,761-$1,761
Other Expenses$16,651$763-$763
All Other Expenses$-300$784-$484
Depreciation Depletion$124$46-$170
Total Functional Expenses$114,894$76,758$3,130$194,782

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,559,282
Expenses Not Reported on Form 990$2,364,500
Expenses per Audited Statements$194,782
Total Expenses per Form 990$194,782
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Rochester Area Foundation$25,196
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

The board reviews and discusses form 990 at its monthly meeting before filing.

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

Officers, directors, trustees, and key employees are annually required to fill out and sign disclosure form. They must also verbally indicate whether a conflict exists and abstain from voting at board meeting.

Form 990, Part VI, Section B, Line 15

The compensation of the executive director of the rochester area foundation is determined by the executive committee of the board of directors using comparability data from the council of foundations. The compensation of the organization's officers and key employees is determined by the executive director of the rochester area foundation using comparability data from the council of foundations and increases are based on merit.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of interest policy and/or financial statements may be obtained by the public upon request.

Filing and Contact Details

Filer

Filer Name
First Homes Properties
EIN
41-2004557
Phone
5072877117
Address
12 ELTON HILLS DRIVE NW, ROCHESTER, MN 55901

Signing Officer

Name
Joann Stormer
Title
Executive Director
Phone
5072877117
Signed
2016-06-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joann Stormer
Formed
2001
Legal Domicile
Mn
Voting Board Members
7
Independent Board Members
6
Employees
0
Volunteers
6

Preparer

Firm
Rsm US Llp
Address
310 BROADWAY AVENUE S SUITE 300, ROCHESTER, MN 55904
Preparer
Daniel W Edwards
Phone
5072886476
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 2C:

The finance committee has the responsibility for oversight of the audit and selection of an independent accountant. The process has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

The organization is exempt from federal income taxes under section 501(c)(3) of the internal revenue code. The organization believes that no significant uncertain tax positions have been taken in its tax returns. At december 31, 2015 generally, the federal and minnesota tax returns for the organization are open for examination by taxing authorities for the years 2012 to 2014. At december 31, 2015, the organization did not record any liabilities for uncertain tax positions.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Reported by affiliates 1,019,675.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Reported by affiliates 2,364,200.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3800
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt4-16000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt094300
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt155625
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt23240
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3800
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt4-16000
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0135005
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt017093
IRS990/PYOtherExpensesAmt0128141
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0270521
IRS990/PYRevenuesLessExpensesAmt0196555
IRS990/PYSalariesCompEmpBnftPaidAmt097923
IRS990/PYTotalExpensesAmt0226064
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0422619
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0910098
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0137965
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0416017740
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd07
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0ROCHESTER AREA FOUNDATION
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt0300
IRS990ScheduleD/DonatedServicesUseFcltsAmt0300
IRS990ScheduleD/EquipmentGrp/BookValueAmt0165
IRS990ScheduleD/EquipmentGrp/DepreciationAmt036658
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt036823
IRS990ScheduleD/ExpensesNotReportedAmt02364500
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0194782
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0245038
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0245038
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt07953584
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt171447
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt21857083
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LAND HELD IN TRUST
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1OTHER ASSETS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DUE FROM AFFILIATES
IRS990ScheduleD/OtherExpensesIncludedAmt02364200
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt025196
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO ROCHESTER AREA FOUNDATION
IRS990ScheduleD/OtherRevenueAmt01019675
IRS990ScheduleD/RevenueNotReportedAmt01019975
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01104880
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION BELIEVES THAT NO SIGNIFICANT UNCERTAIN TAX POSITIONS HAVE BEEN TAKEN IN ITS TAX RETURNS. AT DECEMBER 31, 2015 GENERALLY, THE FEDERAL AND MINNESOTA TAX RETURNS FOR THE ORGANIZATION ARE OPEN FOR EXAMINATION BY TAXING AUTHORITIES FOR THE YEARS 2012 TO 2014. AT DECEMBER 31, 2015, THE ORGANIZATION DID NOT RECORD ANY LIABILITIES FOR UNCERTAIN TAX POSITIONS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1REPORTED BY AFFILIATES 1,019,675.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2REPORTED BY AFFILIATES 2,364,200.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0245203
IRS990ScheduleD/TotalBookValueOtherAssetsAmt09882114
IRS990ScheduleD/TotalExpensesPerForm990Amt0194782
IRS990ScheduleD/TotalLiabilityAmt025196
IRS990ScheduleD/TotalRevenuePerForm990Amt01104880
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02124855
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02559282
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0144573
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt07957
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt019664
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JOANN STORMER-RELATED ORG COMP
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0172194
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD REVIEWS AND DISCUSSES FORM 990 AT ITS MONTHLY MEETING BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OFFICERS, DIRECTORS, TRUSTEES, AND KEY EMPLOYEES ARE ANNUALLY REQUIRED TO FILL OUT AND SIGN DISCLOSURE FORM. THEY MUST ALSO VERBALLY INDICATE WHETHER A CONFLICT EXISTS AND ABSTAIN FROM VOTING AT BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE COMPENSATION OF THE EXECUTIVE DIRECTOR OF THE ROCHESTER AREA FOUNDATION IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS USING COMPARABILITY DATA FROM THE COUNCIL OF FOUNDATIONS. THE COMPENSATION OF THE ORGANIZATION'S OFFICERS AND KEY EMPLOYEES IS DETERMINED BY THE EXECUTIVE DIRECTOR OF THE ROCHESTER AREA FOUNDATION USING COMPARABILITY DATA FROM THE COUNCIL OF FOUNDATIONS AND INCREASES ARE BASED ON MERIT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND/OR FINANCIAL STATEMENTS MAY BE OBTAINED BY THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FINANCE COMMITTEE HAS THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd01
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0ROCHESTER AREA FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0ROCHESTER AREA FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1RAF PROPERTIES
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0416017740
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1411891463
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(C)3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0STRENGTHEN COMMUNITY PHILANTHROPY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1TO RECEIVE, HOLD & DISBURSE ANY REAL PROPERTY FOR ROCHESTER AREA FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt07
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt111A TYPE I

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.9$3.93$16.0$2.97$1.95$1.02
2023Summary only. Only limited summary data is available for this year.$20.9$5.97$15.0$1.87$0.99$0.87
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.4$3.66$13.7$1.36$1.07$0.29
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.4$3.01$13.4$2.18$0.99$1.18
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.5$3.22$12.2$2.16$1.22$0.94
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.4$0.37$10.0$0.37$0.43$0.05
2018Summary only. Only limited summary data is available for this year.$10.4$0.33$10.1$0.59$0.54$0.05
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.1$0.10$10.0$0.51$0.53$0.02
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.4$0.32$10.0$0.37$0.27$0.10
2015Detailed filing. Detailed filing data is available for this year.$10.6$0.63$9.95$1.10$0.19$0.91
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.9$1.86$9.04$0.42$0.23$0.20
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.4$2.52$8.84$0.59$0.41$0.18
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.5$4.83$8.67$0.79
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.1$6.29$8.79$0.81