Gate City Rotary Foundation Inc
- Assets
- $393.2k
- Revenue
- $34.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Greensboro, NC
- Founding
- 09/2007
- Data as of
- 06/2023
- EIN
- 20-4514737
Organization Overview
Gate City Rotary Foundation Inc is located in Greensboro, NC. The organization was established in 2007. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, 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. Gate City 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 06/2023, Gate City Rotary Foundation Inc generated $34.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (11.5%) each year. All expenses for the organization totaled $28.0k during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT WORTHWHILE CHARITABLE ORGANIZATIONS THROUGHOUT THE COMMUNITY AND THE WORLD AND PROVIDE COLLEGE SCHOLARSHIPS TO DESERVING STUDENTS IN THE LOCAL COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORTED CHARITABLE ORGANIZATIONS IN THE PIEDMONT TRIAD REGION OF NORTH CAROLINA. GRANT REQUESTS ARE SUBMITTED ANNUALLY BY MEMBERS OF GATE CITY ROTARY WHO ARE PERSONALLY INVOLVED WITH THE CHARITIES. THE SELECTIONS ARE APPROVED BY A SELECT COMMITTEE OF GATE CITY ROTARY PAST PRESIDENTS.
PARTICIPATED WITH OTHER DISTRICT 7690 ROTARY CLUBS TO PROVIDE FUNDING IN ORDER TO RECEIVE MAJOR ROTARY FOUNDATION MATCHING GRANTS.
PROVIDED HIGHER EDUCATION ASSISTANCE TO LOCAL STUDENTS IN THE PIEDMONT TRIAD AREA OF NORTH CAROLINA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Richardson President | OfficerTrustee | 1 | $0 |
Jon Fulton Treasurer | OfficerTrustee | 1 | $0 |
Glen White Secretary | OfficerTrustee | 1 | $0 |
Donielle Jopko Club Admin Chair | Trustee | 1 | $0 |
Gayle Stancil Club Youth Services Chair | Trustee | 1 | $0 |
Mario Scott Public Image Chair | Trustee | 1 | $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 | $150 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $150 |
| Total Program Service Revenue | $0 |
| Investment income | $10,903 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $23,185 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $34,238 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,710 |
| Grants and other assistance to domestic individuals. | $10,000 |
| 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 | $0 |
| Information technology | $1,020 |
| 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 | $232 |
| Total functional expenses | $27,988 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,676 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,800 |
| 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 | $364,691 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $393,167 |
| 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 | $393,167 |
| 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 | $393,167 |