Memphis Rotary Foundation
- Assets
- $811.3k
- Revenue
- $99.5k
- Investments
- $17.2k
- Employees
- 1
- Location
- Germantown, TN
- Founding
- 12/1971
- Data as of
- 06/2022
- EIN
- 62-6096310
Organization Overview
Memphis Rotary Foundation is located in Germantown, TN. The organization was established in 1971. According to its NTEE Classification (Y40) the organization is classified as: Fraternal Societies, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memphis 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 06/2022, Memphis Rotary Foundation generated $99.5k 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 $116.5k during the year ending 06/2022. 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
FUNDING FOR PHILANTHROPIC & COMMUNITY BETTERMENT PROJECTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
DIRECT FUNDING OF PHILANTHROPIC & COMMUNITY BETTERMENT ORGANIZATIONS DOROTHY DAY HOUSE (HOMELESS) 10,142 MOBILE FOOD PANTRIES 6,552 ROTARY READERS (BOOKS) 2,481
ROTARY INTERNATIONAL PROGRAM THE MISSION OF THE ROTARY INTERNATIONAL FOUNDATION IS TO ENABLE ROTARIANS TO ADVANCE WORLD UNDERSTANDING, GOODWILL, AND PEACE THROUGH THE IMPROVEMENT OF HEALTH, THE SUPPORT OF EDUCATION AND THE ALLEVIATION OF POVERTY. THE FOUNDATION IS A NOT-FOR-PROFIT CORPORATION SUPPORTED SOLELY BY VOLUNTARY CONTRIBUTIONS FROM ROTARIANS AND FRIENDS OF THE FOUNDATION WHO SHARE ITS VISION OF A BETTER WORLD. THE MEMPHIS ROTARY FOUNDATION DONATES ON BEHALF OF ITS MEMBERS EACH YEAR.
ADVANCEMENT OF ROTARY GOALS AND IDEALS THROUGH EXPLORATION OF COMMUNITY NEEDS AND SERVICE OPPORTUNITIES AND DEVELOPMENT OF NEW SERVICE PROJECTS.
VARIOUS OTHER PROJECTS DIRECT EXPENDITURES FOR VARIOUS OTHER SERVICE PROJECTS INCLUDING YOUTH LEADERSHIP
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Taylor Hughes Executive Director | 30 | $64,084 | |
Joe Birch President-Elect | OfficerTrustee | 0 | $0 |
Joanna Crangle Vice President | OfficerTrustee | 0 | $0 |
Otis Sanford President | OfficerTrustee | 0 | $0 |
Harry Montgomery Past President | OfficerTrustee | 0 | $0 |
Lea Carr Assistant Treasurer | OfficerTrustee | 0 | $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 | $18,341 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,341 |
| Total Program Service Revenue | $0 |
| Investment income | $40,234 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,353 |
| Net Income from Fundraising Events | $23,252 |
| Net Income from Gaming Activities | $6,355 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $99,535 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $23,175 |
| 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 | $58,968 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,116 |
| Payroll taxes | $4,653 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,133 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,404 |
| 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 | $6,903 |
| All other expenses | $564 |
| Total functional expenses | $116,494 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $24,504 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,223 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $111,632 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $654,731 |
| Investments—other securities | $17,174 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $811,264 |
| Accounts payable and accrued expenses | $12,468 |
| 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 | $12,468 |
| Net assets without donor restrictions | $789,096 |
| Net assets with donor restrictions | $9,700 |
| 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 | $811,264 |
Grants Awarded
Over the last fiscal year, Memphis Rotary Foundation has awarded $23,295 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Evanston, IL PURPOSE: RI PROGRAMS | $11,720 |
Memphis, TN PURPOSE: HOMELESSNESS | $11,575 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Memphis Rotary Foundation has recieved totaling $100.
| Awarding Organization | Amount |
|---|---|
Myron Lewis Foundation Germantown, TN PURPOSE: THE MYRON LEWIS FOUNDATION DONATED MONIES TO ROTARY FOUNDATION TO HELP WITH OPERATIONS | $100 |
Endowment Analysis
| Beg. Balance | $952,722 |
| Earnings | -$87,596 |
| Admin Expense | $17,134 |
| Other Expense | $64,455 |
| Ending Balance | $783,537 |