Norfolk Rotary Charities Inc
- Assets
- $885.1k
- Revenue
- $86.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Norfolk, VA
- Founding
- 02/1999
- Data as of
- 06/2022
- EIN
- 54-1918783
Organization Overview
Norfolk Rotary Charities Inc is located in Norfolk, VA. The organization was established in 1999. 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. Norfolk Rotary Charities 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 06/2022, Norfolk Rotary Charities Inc generated $86.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $74.7k during the year ending 06/2022. While expenses have increased by 1.9% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
NORFOLK ROTARY CHARITIES, INC., IS FORMED EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL, SCIENTIFIC, AND LITERARY PURPOSES INCLUDING
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NORFOLK ROTARY ENDOWMENT FUND WAS ESTABLISHED AT THE HAMPTON ROADS COMMUNITY FOUNDATION EIN: 54-2035996 AND IS DEDICATED TO ENRICHING LIFE FOR NORFOLK, VA RESIDENTS AND SEEKS TO INSPIRE PHILANTHROPY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Desplaines Immediate Past President | OfficerTrustee | 1 | $0 |
Laurie Harrison President | OfficerTrustee | 1 | $0 |
Jeff Wells Vice President | OfficerTrustee | 1 | $0 |
Barbara Lipskis Security/treasurer | OfficerTrustee | 1 | $0 |
Jim Kitz Director | Trustee | 1 | $0 |
John Cemeron Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $62,101 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $43,860 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $105,961 |
| Total Program Service Revenue | $0 |
| Investment income | $7 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$19,492 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $86,476 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $63,253 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $7,752 |
| Fees for services: Legal | $25 |
| Fees for services: Accounting | $700 |
| 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 | $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 | $74,682 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,878 |
| Savings and temporary cash investments | $77,041 |
| Pledges and grants receivable | $10 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $786,127 |
| Total assets | $885,056 |
| Accounts payable and accrued expenses | $463 |
| 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 | $463 |
| Net assets without donor restrictions | $138,739 |
| Net assets with donor restrictions | $745,854 |
| 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 | $885,056 |
Grants Awarded
Over the last fiscal year, Norfolk Rotary Charities Inc has awarded $25,734 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Norfolk, VA PURPOSE: FINANCIAL SUPPORT | $12,867 |
Norfolk, VA PURPOSE: FINANCIAL SUPPORT | $12,867 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Norfolk Rotary Charities Inc has recieved totaling $6.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $6 |
Endowment Analysis
| Beg. Balance | $743,467 |
| Earnings | $65,609 |
| Net Contributions | $5,531 |
| Other Expense | $28,480 |
| Ending Balance | $786,127 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Helvetas Usa Washington, DC | $584,936 | $9,906,698 |
Asbury Foundation Inc Frederick, MD | $52,948,136 | $11,506,831 |
York Foundation Herndon, VA | $79,294,285 | $7,194,037 |
Taubman Foundation For The Arts Roanoke, VA | $20,057,493 | $918,229 |
Swim Across America Inc Charlotte, NC | $6,654,266 | $9,920,780 |
Schoolseed Foundation Memphis, TN | $5,107,519 | $7,793,603 |
Skillsource Group Inc Vienna, VA | $1,796,857 | $6,906,902 |
Fauna & Flora International Usa Inc Washintgon, DC | $2,602,858 | $7,350,946 |
Kennedy Krieger Foundation Inc Baltimore, MD | $94,709,715 | $9,828,353 |
Camino Community Development Corporation Inc Charlotte, NC | $3,342,143 | $5,457,630 |
Lincoln County Opportunity Company Hamlin, WV | $12,939,061 | $6,690,781 |
Chattanooga Chamber Foundation Chattanooga, TN | $7,015,826 | $5,758,264 |