Rochester Economic Development Corporation
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 434,623 | 2,250,522 | −1,815,899 | 77.9 | 11% |
| 2021 | 1,690,653 | 2,631,250 | −940,597 | 62.3 | 13% |
| 2022 | 1,537,376 | 2,868,909 | −1,331,533 | 51.6 | 21% |
| 2023 | 1,673,115 | 2,677,210 | −1,004,095 | 50.8 | 26% |
In its most recent public year (2023), this organization spent $1,004,095 more than it brought in. Its reserves stood at about 50.8 months of spending, down from 77.9 in 2020. Staff pay was 26% of spending.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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