Grhs Foundation Inc

Grhs Foundation Inc is a nonprofit organization dedicated to supporting Rochester Regional Health and its affiliates. The foundation was established in 1995 and operates as a 501(c)(3) entity.

Mission and Activities

The primary mission of Grhs Foundation Inc is to accept, hold, invest, reinvest, and administer donations, grants, bequests, and other contributions for the benefit of Rochester Regional Health and its affiliates. These funds are utilized exclusively for the organization's purposes, ensuring that the income and principal are applied to support the health system's activities.

Grhs Foundation Inc engages in managing and investing financial assets, including real property investments such as medical/office buildings, parking garages, apartments, and lands. The foundation also oversees financial investments to further its objectives without generating financial gain for its members or directors[1][3].

Financial Overview

As of recent reporting, Grhs Foundation Inc has annual revenues of approximately $43.5 million, with expenses of about $42.6 million, resulting in a net income of around $967,500. The foundation manages a substantial portfolio of assets, although its financial health and governance practices have been subjects of review by charity evaluators[4][5].

Governance and Ratings

Grhs Foundation Inc has received a two-star rating from Charity Navigator, indicating areas for improvement. The foundation demonstrates strong program expense ratios, allocating nearly 94% of its funds to program services, which aligns with its mission. However, it faces challenges regarding governance, particularly with a low percentage of independent board members and a higher liabilities-to-assets ratio, raising concerns about financial stability and oversight[1][5].

Employment and Operations

The organization employs approximately 132 individuals and does not operate for the financial gain of its members or directors[1]. It is focused on supporting the broader goals of Rochester Regional Health, an integrated health system serving significant parts of New York.