Milford Rotary Club Foundation
- Assets
- $938.1k
- Revenue
- $279.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Milford, NH
- Founding
- 12/1999
- Data as of
- 12/2021
- EIN
- 02-0512441
Organization Overview
Milford Rotary Club Foundation is located in Milford, NH. The organization was established in 1999. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Milford Rotary Club Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Milford Rotary Club Foundation generated $279.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $156.9k during the year ending 12/2021. While expenses have increased by 4.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Milford Rotary Club Foundation has awarded 23 individual grants totaling $268,150. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MRCF WAS ESTABLISHED EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL AND SCIENTIFIC PURPOSES. THE FUND WILL RECEIVE, MAINTAIN, INVEST AND DESIGNATE FUNDS AVAILABLE FOR DISTRIBUTION TO ADVANCE THE CAUSES OF EDUCATION AND COMMUNITY WELL-BEING BY DISTRIBUTING FUNDS TO EDUCATIONAL AND CIVIC INSTITUTIONS, ORGANIZATIONS, ASSOCIATIONS, GROUPS AND TO INDIVIDUALS WHO ARE MATRICULATED IN A POST-SECONDARY EDUCATIONAL PROGRAM, INCLUDING VOCATIONAL INSTITUTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY SERVIVE: MRCF IS A SOURCE OF AID TO COMMUNITY ORGANIZATIONS AND HUMANITARIAN CAUSES IN THE SOUHEGAN VALLEY REGION OF NH. MRCF PROVIDES DONATIONS FOR CAPITAL IMPROVEMENTS, PROJECTS AND TO SUPPORT THE MISSIONS OF THESE ORGANIZATIONS.
SCHOLARSHIPS: SCHOLARSHIPS ARE GRANTED TO INDIVIDUALS FURTHERING THEIR EDUCATION.
INTERNATIONAL SERVICES: MRCF PROVIDES CONTRIBUTIONS TO VARIOUS INTERNATIONAL CAUSES SUPPORTED BY THE MILFORD ROTARY CLUB. DURING THE YEAR MRCF CONTRIBUTED FUNDS THROUGH ROTARY INTERNATIONAL FOR RI PURE WATER, POLIO PLUS AND YOUTH EXCHANGE PROGRAMS. DUE TO COVID19, MRCF DID NOT PROVIDE GRANTS IN THIS CATEGORY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bob Moulton Treasurer | OfficerTrustee | 4 | $0 |
David Hammer Chairperson | OfficerTrustee | 4 | $0 |
Alec Buchanan Secretary | OfficerTrustee | 1 | $0 |
Paul Spiess Trustee | Trustee | 1 | $0 |
Judy Dunbar Trustee | Trustee | 1 | $0 |
Cynthia Dokmo Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,300 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $122,362 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $123,662 |
| Total Program Service Revenue | $0 |
| Investment income | $39,413 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,310 |
| Net Income from Fundraising Events | $104,058 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $279,443 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $60,473 |
| Grants and other assistance to domestic individuals. | $40,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,289 |
| Advertising and promotion | $0 |
| Office expenses | $163 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,032 |
| All other expenses | $495 |
| Total functional expenses | $156,921 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $152,640 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $783,435 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,000 |
| Total assets | $938,075 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $938,075 |
| Total liabilities and net assets/fund balances | $938,075 |
Grants Awarded
Over the last fiscal year, Milford Rotary Club Foundation has awarded $47,550 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
SHARE OUTREACH PURPOSE: Solar Panel Project, Freezer | $20,000 |
BRIDGES-DOMESTIC & SEXUAL VIOLENCE SUPPORT PURPOSE: Covid 19 relief | $10,000 |
Merrimack, NH PURPOSE: Improvements | $7,500 |
TOWN OF MILFORD RECREATION DEPARTMENT PURPOSE: Recreation Bus | $5,050 |
MILFORD LIONS CLUB PURPOSE: Nemo skateboard park | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Milford Rotary Club Foundation has recieved totaling $10,750.
| Awarding Organization | Amount |
|---|---|
New Hampshire Charitable Foundation Concord, NH PURPOSE: For general and annual support | $10,250 |
Eastern Bank Charitable Foundation Lynn, MA PURPOSE: EXEMPT PURPOSE | $500 |
Endowment Analysis
| Beg. Balance | $658,511 |
| Earnings | $88,091 |
| Admin Expense | $7,078 |
| Net Contributions | $62,411 |
| Grants | $18,500 |
| Ending Balance | $783,435 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Grantham Foundation For The Protection Of The Environment Boston, MA | $585,096,833 | $210,457,800 |
Forsyth Dental Infirmary For Children Cambridge, MA | $46,427,599 | $15,162,236 |
Fund For The Public Interest Inc Boston, MA | $38,723,767 | $15,827,211 |
University Of Southern Maine Foundation Portland, ME | $53,917,918 | $17,054,045 |
Concrete Foundation Inc Craftsbury Common, VT | $101,088,945 | $16,269,821 |
Montshire Museum Of Science Norwich, VT | $18,203,770 | $4,178,719 |
Cooperative Fund Of New England Inc Watertown, MA | $43,843,231 | $2,931,121 |
Rodman For Kids Inc Foxborough, MA | $1,043,014 | $2,731,419 |
Bridges Impact Foundation Boston, MA | $482,504 | $401,774 |
Crawford Idema Fam Foundation Inc Concord, MA | $7,166,597 | $615,407 |
Adaptiv Inc Beverly, MA | $271,240 | $462,023 |
Gerald & Judith Feldman Charitable Foundation Canton, MA | $5,602,877 | $347,277 |