Willoughby Rotary Foundation
- Assets
- $386.4k
- Revenue
- $36.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Frankfort, MI
- Founding
- 11/1986
- Data as of
- 12/2021
- EIN
- 38-2684710
Organization Overview
Willoughby Rotary Foundation is located in Frankfort, MI. The organization was established in 1986. 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. Willoughby Rotary 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, Willoughby Rotary Foundation generated $36.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $13.7k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SCHOLARSHIPS/CHARITABLE COMMUNITY GRANTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
AWARDED 13 SCHOLARSHIPS TO STUDENTS THROUGH THEIR RESPECTIVE COLLEGES/SCHOOLS TO ASSIST WITH ACADEMIC OR TECHNICAL SCHOOL TUITION
AWARDED A GRANT TO LOCAL CHARITABLE AND COMMUNITY GROUP/ORGANIZATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Luedtke President | OfficerTrustee | $0 | |
James J Radabaugh Treasurer | OfficerTrustee | $0 | |
Jerry Slater Secretary | OfficerTrustee | $0 | |
Julie Bankston Trustee | Trustee | $0 | |
Bill Collin Trustee | Trustee | $0 | |
Scott Harrison Trustee | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,845 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,845 |
| Total Program Service Revenue | $0 |
| Investment income | $3,926 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,635 |
| Net Income from Fundraising Events | $11,239 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $36,645 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $489 |
| Grants and other assistance to domestic individuals. | $13,000 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $35 |
| 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 | $13,657 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $44,747 |
| 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 | $341,660 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $386,407 |
| 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 | $44,747 |
| Net assets with donor restrictions | $341,660 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $386,407 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Willoughby Rotary Foundation has recieved totaling $6,500.
| Awarding Organization | Amount |
|---|---|
Grand Traverse Regional Community Foundation Traverse City, MI PURPOSE: B:EDUCATION | $6,500 |
Endowment Analysis
| Beg. Balance | $322,462 |
| Earnings | $19,198 |
| Ending Balance | $341,660 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jewell Educational Fund Owosso, MI | $398,993,901 | $18,985,075 |
Pleasant T Rowland Foundation Brookfield, WI | $94,312,384 | $11,804,849 |
Perkins Malo Hunter Foundation Holland, MI | $51,295,166 | -$331,905 |
Thompson Foundation Plymouth, MI | $5,518,000 | $2,844,461 |
The Endowment Fund Of The Phi Kappa Psi Fraternity Indianapolis, IN | $26,119,752 | $5,253,152 |
Beta Theta Pi Foundation Oxford, OH | $33,085,697 | $6,703,723 |
Sc Johnson Giving Inc Racine, WI | $34,098,989 | $19,343,102 |
Cardinal Health Foundation Dublin, OH | $40,394,329 | $2,713,784 |
Herb Kohl Educational Foundation Inc Milwaukee, WI | $133,385 | $3,506,418 |
Say Yes Cleveland Scholarship Inc Cleveland, OH | $89,649,014 | $4,775,644 |
Ab Nicholas Scholarship Foundation Mequon, WI | $58,753,687 | $6,013,180 |
John F And Edith L Wilsterman Foundation Flushing, MI | $43,019,363 | $3,159,735 |