Rotary Club Of Lakeville Foundation
- Assets
- $228.4k
- Revenue
- $156.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Lakeville, MN
- Founding
- 07/2014
- Data as of
- 06/2022
- EIN
- 46-0789408
Organization Overview
Rotary Club Of Lakeville Foundation is located in Lakeville, MN. The organization was established in 2014. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, 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. Rotary Club Of Lakeville 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 06/2022, Rotary Club Of Lakeville Foundation generated $156.2k in total revenue. The organization has seen a slow decline revenue. Over the past 3 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $118.8k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (6.2%) per year over the past 3 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SERVICE AND FINANCIAL SUPPORT TO LOCAL CHARITIES, STUDENTS AND ROTARY INTERNATIONAL EFFORTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY SERVICE - CHARITABLE GRANTS BENEFITING OVER ONE THOUSAND PEOPLE IN LAKEVILLE AND SURROUNDING COMMUNITIES. CHARITIES SUPPORTED INCLUDE FOOD SHELVES, SCHOOLS, SCOUTING, DISABLED, SENIOR CITIZENS, YOUTH AND COMMUNITY.
YOUTH SERVICE - PROGRAMS DIRECTLY BENEFITING OVER 200 STUDENTS IN LAKEVILLE. MAIN EFFORTS INCLUDE STRIVE MENTORSHIP PROGRAM, SCHOLARSHIPS, CAMP RYLA, CAMP ENTERPRISE, STUDENT OF THE MONTH RECOGNITION.
INTERNATIONAL SERVIICE - SUPPORT FOR INTERNATIONAL EFFORTS TO ERADICATE POLIO, CLEAN WATER INITIATIVES, NUTRITION, AND YOUTH EXCHANGE PROGRAMS. OVERALL EFFORTS OF ROTARY INTERNATIONAL BENEFIT MILLIONS OF PEOPLE WORLDWIDE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathy Hughitt Secretary | OfficerTrustee | 5 | $8,917 |
Tom Von Hof President | OfficerTrustee | 5 | $0 |
Steve Volavka Immediate Past President | Trustee | 1 | $0 |
Alan Williams Treasurer | OfficerTrustee | 5 | $0 |
Ken Wentworth President Elect | OfficerTrustee | 1 | $0 |
Jay Young Foundation Committee Chair | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $7,400 |
| Fundraising events | $100,254 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $48,340 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $155,994 |
| Total Program Service Revenue | $0 |
| Investment income | $220 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $156,214 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $42,139 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $62,126 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $7,617 |
| Compensation of current officers, directors, key employees. | $7,617 |
| 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 | $828 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,300 |
| Advertising and promotion | $600 |
| Office expenses | $4,170 |
| 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 | $118,780 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $226,236 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,130 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $228,366 |
| Accounts payable and accrued expenses | $53,695 |
| 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 | $53,695 |
| Net assets without donor restrictions | $174,671 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $228,366 |