Grhs Foundation INC FY2021 filing

Tax-deductible

Rochester, NY501(c)(3)Since 1995Community DevelopmentEIN 22-3378111

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The Foundation is organized and operated exclusively to benefit the affiliates of rochester regional health.

501(c)(3) charity; gifts are tax-deductible.
95¢ of each $1 spent went to programs.
$117K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $3.3M a year · 8% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$117K
to officers and key staff · 0.3% of spending
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.4 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $315K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$120.3M
80% of total assets
Worth a look: liabilities are 80% of assets; over 65%.
Pt X · Ln 26
Independent board members
1
of 3 voting members
Worth a look: 1 of 3 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$43.3M
+14% vs prior year
Spent
$40.1M
To programs
95%
Net assets
$30.4M
By yearFY2020–FY2024
Revenue
$43.3M
FY2021▲ +14%
Revenue by fiscal year
FY2020$37.8M
FY2021$43.3M
FY2022$43.5M
FY2023$46.0M
FY2024$44.3M
Expenses
$40.1M
FY2021▲ +16%
Expenses by fiscal year
FY2020$34.5M
FY2021$40.1M
FY2022$42.6M
FY2023$41.5M
FY2024$40.0M
Net assets
$30.4M
FY2021▲ +12%
Net assets by fiscal year
FY2020$27.2M
FY2021$30.4M
FY2022$31.3M
FY2023$35.8M
FY2024$40.2M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1995.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $38.2M Management & general 5% · $1.8M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990; $117K paid to officers and key staff.

Part VII, Section A · reportable compensation
$77,697Pt VII · Sec A
$20,937Pt VII · Sec A
$18,545Pt VII · Sec A
Chair of the Board
$0Pt VII · Sec A
$0Pt VII · Sec A

Jeffrey Peacock’s $276K as Executive Director is at the 49th percentile of top reported officer pay among 572 $10–100M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Jeffrey Peacock$275,652$250,824$263,755——
Theresa Tornatore$139,901$131,152———
David Nasta$139,822$131,233———
Melissa Delaney$139,055$132,008$121,385——
Marti Denoto—$135,582$109,575——
Rachel Weber——$132,814——
Arjun Sharma$131,114—$115,694——
Robert Nesselbush————$80,557

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides financial support to Rochester Regional Health affiliates.

Provided by the organization

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2 programs · $38.2M · in their own filed words · FY2021
01

Operating real property investments, including MEDICAL/OFFICE buildings, a parking garage, apartments, an adult daycare facility, and parcels of land, as well as maintaining financial investments on behalf of affiliates.

$22.5Mprogram expense
02

Ambulatory surgery center

$15.8Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2020
Total grants receivedfrom 1 funder$315K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$43.3M
Ln 12
Fees for servicesLn 2g$43.2M
Other incomeLn 4–11$98K
Investment incomeLn 3$2K
Money outPt IX
$40.1M
Ln 25
Programscol B$38.2M
Managementcol C$1.8M
Owns and owesPt X
$30.4M
net assets · Ln 32
Cash and savingsLn 1–2$1.4M
Total assetsLn 16$150.7M
LiabilitiesLn 26$120.3M
PeoplePt VI, VII
5
listed · VII A
PaidVII A3
Voting boardVI 1a3
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$43.2M
Investment incomeLn 3$2K
Other incomeLn 4–11$98K
Total revenueLn 12$43.3M
Assets in detailPt X, end of year
CashLn 1$1.4M
SavingsLn 2$43K
Cash and savings togetherLn 1–2$1.4M
Land, buildings, equipmentLn 10c$131.8M
Other assetsLn 15$14.5M
Total assetsLn 16$150.7M
LiabilitiesLn 26$120.3M
Net assetsLn 32$30.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$2.3M$1.4M
Land, buildings, equipmentLn 10c$126.9M$131.8M
Total assetsLn 16$152.5M$150.7M
LiabilitiesLn 26$125.3M$120.3M
Net assetsLn 32$27.2M$30.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$90K$71K$19K
Management feesLn 11a$1.4M$1.3M$127K
Legal feesLn 11b$580$524$56
Accounting feesLn 11c$15K$14K$1K
Other fees for servicesLn 11g$3.9M$3.5M$373K
Office expensesLn 13$593K$576K$17K
OccupancyLn 16$6.1M$5.9M$185K
TravelLn 17$127$123$4
Conferences, conventions and meetingsLn 19$3K$3K$99
InterestLn 20$4.0M$4.0M
Depreciation, depletion and amortizationLn 22$7.0M$7.0M$13K
InsuranceLn 23$252$219$33
Other expenses (24a–d)Ln 24$16.8M$15.7M$1.1M
All other expensesLn 24e$276K$268K$8K
Total functional expensesLn 25$40.1M$38.2M$1.8M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $44.3M$40.0M$4.4M$40.2M 990 PDF
FY2023 $46.0M$41.5M$4.5M$35.8M 990 PDF
FY2022 $43.5M$42.6M$968K$31.3M 990 PDF
FY2021 Viewing $43.3M$40.1M$3.2M$30.4M 990 PDF
FY2020 $37.8M$34.5M$3.4M$27.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $43,275,253 across 4 lines filed
Lines not itemized here account for $64,957 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $43,174,822$43,174,822
VIII-3 Investment incomeExcluded from tax $2,470$2,470
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $33,004$33,004
VIII-12 Total revenueRelated to mission $43,239,779 · Unrelated business $33,004 · Excluded from tax $2,470$43,275,253
Part IX · Statement of functional expenses $40,064,284 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $70,975 · Management $18,624$89,599
IX-11a Management feesPrograms $1,288,144 · Management $127,073$1,415,217
IX-11b Legal feesPrograms $524 · Management $56$580
IX-11c Accounting feesPrograms $13,633 · Management $1,461$15,094
IX-11g Other fees for servicesPrograms $3,479,142 · Management $372,961$3,852,103
IX-13 Office expensesPrograms $575,594 · Management $17,197$592,791
IX-16 OccupancyPrograms $5,910,704 · Management $185,237$6,095,941
IX-17 TravelPrograms $123 · Management $4$127
IX-19 Conferences, conventions and meetingsPrograms $3,312 · Management $99$3,411
IX-20 InterestPrograms $3,955,377$3,955,377
IX-22 Depreciation, depletion and amortizationPrograms $6,959,236 · Management $13,053$6,972,289
IX-23 InsurancePrograms $219 · Management $33$252
IX-24 Other expenses (24a–d)Programs $15,724,518 · Management $1,071,216$16,795,734
IX-24e All other expensesPrograms $268,039 · Management $7,730$275,769
IX-25 Total functional expensesPrograms $38,249,540 · Management $1,814,744 · Fundraising $0$40,064,284
Part X · Balance sheet $150,651,211 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $2,266,897$1,376,312
X-2 Savings and temporary cash investmentsStart of year $44,131$42,949
X-4 Accounts receivableStart of year $1,251,120$1,689,405
X-8 Inventories for sale or useStart of year $457,740$562,189
X-9 Prepaid expenses and deferred chargesStart of year $659,600$674,522
X-10c Land, buildings and equipment, netStart of year $126,911,688$131,786,835
X-15 Other assetsStart of year $20,877,885$14,518,999
X-16 Total assetsStart of year $152,469,061$150,651,211
X-17 Accounts payable and accrued expensesStart of year $2,000,638$2,653,420
X-19 Deferred revenueStart of year $171,571$36,108
X-25 Other liabilitiesStart of year $27,110,447$25,468,197
X-26 Total liabilitiesStart of year $125,299,080$120,270,261
X-27 Net assets without donor restrictionsStart of year $27,169,981$30,380,950
X-32 Total net assets or fund balancesStart of year $27,169,981$30,380,950
X-33 Total liabilities and net assetsStart of year $152,469,061$150,651,211
Part XI · Reconciliation of net assets $30,380,950 net assets at year end
XI-1 Total revenue$43,275,253
XI-2 Total expenses$40,064,284
XI-3 Revenue less expenses$3,210,969
XI-4 Net assets at start of year$27,169,981
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$30,380,950

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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