Madison Rotary Club Foundation Inc, operating under the name Madison Rotary, is located in Madison, NJ. The organization was established in 1995. 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. Madison Rotary 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 06/2024, Madison Rotary generated $212.5k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 29.4% each year . All expenses for the organization totaled $200.8k during the year ending 06/2024. While expenses have increased by 28.0% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION IS A COMMUNITY SERVICE ORGANIZATION WITH THREE PRINCIPAL CHARITABLE ACTIVITIES - FIGHTING FOOD INSECURITY, SUPPORTING EDUCATIONAL PROGRAMS AND FUNDING COMMUNITY ORGANIZATIONS. PROGRAM SERVICES ALSO INCLUDE WEEKLY MEETINGS AND PERIODIC COMMUNITY-BUILDING EVENTS FOR MEMBERS AND THE PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS TO APPROXIMATELY 30 LOCAL ORGANIZATIONS AND DISTRIBUTIONS TO THE ROTARY FOUNDATION IN SUPPORT OF ROTARY CAUSES.
COLLEGE SCHOLARSHIPS AND COMMUNITY SERVICE RECOGNITION AWARDS FOR HIGH SCHOOL STUDENTS; DISTRIBUTION OF DICTIONARIES TO ALL MADISON 3RD GRADERS; AND MENTORING AND FINANCIAL SUPPORT FOR THE INTERACT CLUB, A HIGH SCHOOL SERVICE ORGANIZATION.
BIWEEKLY COLLECTIONS OF FOOD DONATED BY RESIDENTS; PERIODIC PREPARATION OF SOUP FOR DONATION TO LOCAL ORGANIZATIONS; COMMUNITY GARDEN TO RAISE VEGETABLES FOR DONATION.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
David Duran Assistant Treasurer | Trustee | 3 | $0 |
Barry Kroll Secretary-Membership | Trustee | 5 | $0 |
Joseph Smith Membership Chair | Trustee | 3 | $0 |
John Hogan Youth Service Chair | Trustee | 3 | $0 |
Tanya Van Order Trustee | Trustee | 3 | $0 |
Patricia Miller Trustee | Trustee | 3 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $20,507 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $5,901 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $26,408 |
Total Program Service Revenue | $156,206 |
Investment income | $30 |
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 | $29,842 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $212,486 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $55,861 |
Grants and other assistance to domestic individuals. | $7,900 |
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 | $57 |
Office expenses | $1,172 |
Information technology | $1,408 |
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 | $12,000 |
Depreciation, depletion, and amortization | $0 |
Insurance | $904 |
All other expenses | $3,424 |
Total functional expenses | $200,792 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $60,412 |
Savings and temporary cash investments | $7,188 |
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 | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $500 |
Total assets | $68,100 |
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 | $0 |
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 | $68,100 |
Total liabilities and net assets/fund balances | $68,100 |
Over the last fiscal year, Madison Rotary Club Foundation Inc has awarded $41,275 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
THE ROTARY FOUNDATION | | | $6,275 |
MADISON YMCA | | | $35,000 |