Grove Rotary Foundation Inc
- Assets
- $381.0k
- Revenue
- $129.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Grove, OK
- Founding
- 01/2009
- Data as of
- 06/2020
- EIN
- 26-0627943
Organization Overview
Grove Rotary Foundation Inc is located in Grove, OK. The organization was established in 2009. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grove Rotary Foundation Inc 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 06/2020, Grove Rotary Foundation Inc generated $129.5k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $182.0k during the year ending 06/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ASSISTANCE TO INDIVIDUALS AND ORGANIZATIONS THROUGH EDUCATIONAL SCHOLARSHIPS AND CHARITABLE COMMUNITY GRANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INDIVIDUAL AND COMMUNITY DONATIONS
EDUCATIONAL SCHOLARSHIPS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Corbridge Director | OfficerTrustee | 0.25 | $0 |
Russell Mosburg Treasurer | OfficerTrustee | 1.5 | $0 |
Judy Mchenry Chairman | OfficerTrustee | 0.5 | $0 |
Suzanne Mcknott Secretary | OfficerTrustee | 0.5 | $0 |
Teri Shaffer Director | Trustee | 0.25 | $0 |
Bud Vick Director | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $115,840 |
| Investment income | $7,358 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,936 |
| Net Income from Fundraising Events | -$1,597 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $129,537 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $21,500 |
| 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 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 | $2,216 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,993 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $181,969 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $74,550 |
| Savings and temporary cash investments | $137,751 |
| 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 |
| Investments—publicly traded securities | $168,556 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $142 |
| Total assets | $380,999 |
| 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 |
| Total liabilities and net assets/fund balances | $380,999 |
Grants Awarded
Over the last fiscal year, Grove Rotary Foundation Inc has awarded $25,338 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GROVE PUBLIC SCHOOLS | | | $15,338 |
Jay, OK | | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Grove Rotary Foundation Inc has recieved totaling $8,837.
| Awarding Organization | Amount |
|---|---|
Todd Family Charitable Foundation Tulsa, OK PURPOSE: HELP FUND ORDINARY ACTIVITIES | $8,825 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $12 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Texas A & M University 12th Man Foundation College Station, TX | $205,287,780 | $55,896,745 |
Noble Research Institute Llc Ardmore, OK | $149,630,598 | $47,833,341 |
Brazos Education Loan Authority Inc Waco, TX | $1,464,923,579 | $48,416,543 |
Folds Of Honor Foundation Owasso, OK | $73,033,715 | $51,158,137 |
Brazos Higher Education Authority Inc Waco, TX | $991,731,055 | $31,545,196 |
Alliance For Choice In Education Greenwood Village, CO | $60,249,872 | $34,038,450 |
Terry Foundation Houston, TX | $405,880,401 | $20,877,529 |
Wichita Center For Graduate Medical Education Inc Wichita, KS | $5,382,351 | $22,892,628 |
At&t Foundation Dallas, TX | $30,306,998 | $4,969 |
New Mexico Educational Assistance Foundation Albuquerque, NM | $392,805,656 | $19,955,288 |
Greater Texas Foundation Bryan, TX | $0 | $15,972,442 |
Post Oak School Bellaire, TX | $33,296,853 | $15,447,844 |