Grhs Foundation INC FY2023 filing

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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.
97¢ of each $1 spent went to programs.
$863K 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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FY2023 · 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
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$863K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
<1 mo
of spending, in cash
Concern: 0.3 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
$107.8M
75% of total assets
Worth a look: liabilities are 75% 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
$46.0M
+6% vs prior year
Spent
$41.5M
To programs
97%
Net assets
$35.8M
By yearFY2020–FY2024
Revenue
$46.0M
FY2023▲ +6%
Tap a bar for its year
Revenue by fiscal year
FY2020$37.8M
FY2021$43.3M
FY2022$43.5M
FY2023$46.0M
FY2024$44.3M
Expenses
$41.5M
FY2023▼ -2%
Tap a bar for its year
Expenses by fiscal year
FY2020$34.5M
FY2021$40.1M
FY2022$42.6M
FY2023$41.5M
FY2024$40.0M
Net assets
$35.8M
FY2023▲ +14%
Tap a bar for its year
Net assets by fiscal year
FY2020$27.2M
FY2021$30.4M
FY2022$31.3M
FY2023$35.8M
FY2024$40.2M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

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

97 cents of each dollar spent went to programs.

Program services 97% · $40.3M Management & general 3% · $1.2M

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

11 people listed on the 990; $863K paid to officers and key staff.

Part VII, Section A · reportable compensation
SR. Director, Ambulatory Surgery
$250,824Pt VII · Sec A
$135,582Pt VII · Sec A
Clincial Director
$132,008Pt VII · Sec A
Director of Purchasing
$131,233Pt VII · Sec A
Director of Finance
$131,152Pt VII · Sec A
$56,040Pt VII · Sec A
$25,899Pt 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.

See Grhs Foundation INC executive salaries →

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.

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2 programs · $40.3M · in their own filed words · FY2023
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.

$22.8Mprogram expense
02

Ambulatory surgery center

$17.5Mprogram 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 FY2023 990, line by line.

1The main four
Money inPt VIII
$46.0M
Ln 12
Fees for servicesLn 2g$44.1M
Gifts and grantsLn 1h$1.6M
Investment incomeLn 3$180K
Money outPt IX
$41.5M
Ln 25
Programscol B$40.3M
Managementcol C$1.2M
Owns and owesPt X
$35.8M
net assets · Ln 32
Cash and savingsLn 1–2$900K
Total assetsLn 16$143.6M
LiabilitiesLn 26$107.8M
PeoplePt VI, VII
11
listed · VII A
PaidVII A7
Voting boardVI 1a3
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.6M
Noncash giftsLn 1g$1.6M
Fees for servicesLn 2g$44.1M
Investment incomeLn 3$180K
Other incomeLn 4–11$70K
Gains on assetsLn 7$92K
Total revenueLn 12$46.0M
Assets in detailPt X, end of year
CashLn 1$854K
SavingsLn 2$46K
Cash and savings togetherLn 1–2$900K
Land, buildings, equipmentLn 10c$124.4M
Other assetsLn 15$15.6M
Total assetsLn 16$143.6M
LiabilitiesLn 26$107.8M
Net assetsLn 32$35.8M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
BondsSch K, Pt X
Tax-exempt bond debt owedX 20$36.1M
Bond issues listedSch K Pt I2
Raised by those issuesSch K Pt I$37.5M
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$1.6M
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$1.3M$900K
Land, buildings, equipmentLn 10c$128.9M$124.4M
Total assetsLn 16$147.5M$143.6M
LiabilitiesLn 26$116.2M$107.8M
Net assetsLn 32$31.3M$35.8M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$86K$68K$17K
Other salaries and wagesLn 7$5.8M$5.7M$179K
Pension plan contributionsLn 8$130K$124K$6K
Other employee benefitsLn 9$798K$762K$36K
Payroll taxesLn 10$329K$313K$16K
Management feesLn 11a$1.4M$1.2M$143K
Legal feesLn 11b$600$537$63
Accounting feesLn 11c$16K$14K$2K
Other fees for servicesLn 11g$5.1M$4.6M$536K
Office expensesLn 13$312K$309K$3K
OccupancyLn 16$6.5M$6.4M$81K
Conferences, conventions and meetingsLn 19$3K$3K$35
InterestLn 20$4.5M$4.5M
Depreciation, depletion and amortizationLn 22$7.3M$7.2M$19K
InsuranceLn 23$180$178$2
Other expenses (24a–d)Ln 24$10.0M$9.8M$194K
All other expensesLn 24e−$685K−$678K−$7K
Total functional expensesLn 25$41.5M$40.3M$1.2M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Nov 12, 2025 $44.3M$40.0M$4.4M$40.2M 990 PDF
FY2023 ViewingFiled with the IRS Nov 14, 2024 $46.0M$41.5M$4.5M$35.8M 990 PDF
FY2022Filed with the IRS Nov 13, 2023 $43.5M$42.6M$968K$31.3M 990 PDF
FY2021Filed with the IRS Nov 14, 2022 $43.3M$40.1M$3.2M$30.4M 990 PDF
FY2020Filed with the IRS Nov 11, 2021 $37.8M$34.5M$3.4M$27.2M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $45,998,790 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$1,640,000
I-9 Program service revenuePrior year $43,826,976$44,108,260
I-10 Investment incomePrior year $7,979$180,093
I-11 Other revenuePrior year −$287,590$70,437
I-12 Total revenuePrior year $43,547,365$45,998,790
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $7,075,878$7,182,639
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $35,503,977$34,338,396
I-18 Total expensesPrior year $42,579,855$41,521,035
I-19 Revenue less expensesPrior year $967,510$4,477,755
Part VI · Governance 1 of 3 board members independent, no flags
VI-1a Voting members of the governing body3
VI-1b Independent voting members1
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $45,998,790 across 8 lines filed
VIII-1f All other contributions, gifts and grants$1,640,000
VIII-1g Noncash contributions (included above)$1,640,000
VIII-1h Total contributions, gifts and grants$1,640,000
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $44,108,260$44,108,260
VIII-3 Investment incomeExcluded from tax $87,960$87,960
VIII-7 Net gain or loss on sales of assetsExcluded from tax $92,133$92,133
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $29,377 · Unrelated business $41,060$70,437
VIII-12 Total revenueRelated to mission $44,137,637 · Unrelated business $41,060 · Excluded from tax $180,093$45,998,790
Part IX · Statement of functional expenses $41,521,035 across 17 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $68,376 · Management $17,372$85,748
IX-7 Other salaries and wagesPrograms $5,661,368 · Management $178,653$5,840,021
IX-8 Pension plan contributionsPrograms $123,561 · Management $6,141$129,702
IX-9 Other employee benefitsPrograms $762,114 · Management $36,037$798,151
IX-10 Payroll taxesPrograms $313,439 · Management $15,578$329,017
IX-11a Management feesPrograms $1,216,899 · Management $143,257$1,360,156
IX-11b Legal feesPrograms $537 · Management $63$600
IX-11c Accounting feesPrograms $14,083 · Management $1,658$15,741
IX-11g Other fees for servicesPrograms $4,552,879 · Management $535,978$5,088,857
IX-13 Office expensesPrograms $308,511 · Management $3,309$311,820
IX-16 OccupancyPrograms $6,429,363 · Management $81,462$6,510,825
IX-19 Conferences, conventions and meetingsPrograms $3,265 · Management $35$3,300
IX-20 InterestPrograms $4,496,115$4,496,115
IX-22 Depreciation, depletion and amortizationPrograms $7,243,170 · Management $19,224$7,262,394
IX-23 InsurancePrograms $178 · Management $2$180
IX-24 Other expenses (24a–d)Programs $9,780,008 · Management $193,886$9,973,894
IX-24e All other expensesPrograms −$678,212 · Management −$7,274−$685,486
IX-25 Total functional expensesPrograms $40,295,654 · Management $1,225,381 · Fundraising $0$41,521,035
Part X · Balance sheet $143,576,575 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $1,205,048$854,411
X-2 Savings and temporary cash investmentsStart of year $45,515$45,515
X-4 Accounts receivableStart of year $1,765,922$1,222,176
X-8 Inventories for sale or useStart of year $811,073$969,787
X-9 Prepaid expenses and deferred chargesStart of year $629,525$451,022
X-10c Land, buildings and equipment, netStart of year $128,878,693$124,401,273
X-14 Intangible assetsStart of year $23,929$29,854
X-15 Other assetsStart of year $14,143,434$15,602,537
X-16 Total assetsStart of year $147,503,139$143,576,575
X-17 Accounts payable and accrued expensesStart of year $3,106,670$2,358,115
X-19 Deferred revenueStart of year −$79,606−$48,918
X-20 Tax-exempt bond liabilitiesStart of year $37,577,872$36,073,229
X-25 Other liabilitiesStart of year $25,121,522$22,031,213
X-26 Total liabilitiesStart of year $116,154,679$107,750,356
X-27 Net assets without donor restrictionsStart of year $31,348,460$35,826,219
X-32 Total net assets or fund balancesStart of year $31,348,460$35,826,219
X-33 Total liabilities and net assetsStart of year $147,503,139$143,576,575
Part XI · Reconciliation of net assets $35,826,219 net assets at year end
XI-1 Total revenue$45,998,790
XI-2 Total expenses$41,521,035
XI-3 Revenue less expenses$4,477,755
XI-4 Net assets at start of year$31,348,460
XI-8 Prior period adjustments$4
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$35,826,219

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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