Prior Lake Rotary Foundation
- Assets
- $2.4m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Prior Lake, MN
- Founding
- 06/2011
- Data as of
- 12/2021
- EIN
- 27-0594503
Organization Overview
Prior Lake Rotary Foundation is located in Prior Lake, MN. The organization was established in 2011. 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. Prior Lake 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 12/2021, Prior Lake Rotary Foundation generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 35.3% each year . All expenses for the organization totaled $200.2k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Prior Lake Rotary Foundation has awarded 31 individual grants totaling $801,644. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PRIOR LAKE ROTARY FOUNDATION CONDUCTS A FUNDRAISER EACH YEAR TO BENEFIT LOCAL CHARITIES. IN JULY THE FOUNDATION CONDUCTS THE LAKEFRONT MUSIC FEST RAISING REVENUE THROUGH CONCESSIONS, TICKET SALES AND SPONSORSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT LOCAL, REGIONAL, NATIONAL AND INTERNATIONAL CHARITABLE, ENVIRONMENTAL, HUMANITARIAN, EDUCATIONAL AND SCIENTIFIC ACTIVITIES THAT ALIGN WITH THE MISSION OF ROTARY INTERNATIONAL AND THE ROTARY FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mitch Popple Chair | OfficerTrustee | 5 | $0 |
Dave Card Vice Chair | OfficerTrustee | 5 | $0 |
Bill Schult Treasurer | OfficerTrustee | 5 | $0 |
Doug Gesme Member | Trustee | 1 | $0 |
Joan Lompart Member | Trustee | 1 | $0 |
Paul Hofslien Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Plaid Paisley Enterprises Inc Entertainment | 12/30/19 | $400,000 |
Sailor Touring Inc Entertainment | 12/30/19 | $200,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $254,570 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $17,673 |
| Noncash contributions included in lines 1a–1f | $43,700 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $272,243 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $1,030,925 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,303,168 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $172,776 |
| Grants and other assistance to domestic individuals. | $4,000 |
| 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 | $14,595 |
| 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 | $4,772 |
| 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 | $4,106 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $200,249 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $230,686 |
| Savings and temporary cash investments | $2,094,160 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,443 |
| 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 | $1,849 |
| Net Land, buildings, and equipment | $29,099 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,359,237 |
| Accounts payable and accrued expenses | $13,926 |
| Grants payable | $0 |
| Deferred revenue | $718,621 |
| 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 | $973 |
| Total liabilities | $733,520 |
| Net assets without donor restrictions | $1,625,717 |
| 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 | $2,359,237 |
Grants Awarded
Over the last fiscal year, Prior Lake Rotary Foundation has awarded $93,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Evanston, IL PURPOSE: General operations | $82,500 |
St Paul, MN PURPOSE: General operations | $11,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Prior Lake Rotary Foundation has recieved totaling $77.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $77 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Thedacare Family Of Foundations Inc Appleton, WI | $89,256,611 | $25,439,996 |
The Hormel Foundation Austin, MN | $1,540,722,314 | $34,366,937 |
South Dakota Community Foundation Pierre, SD | $805,282,495 | $215,504,617 |
Society Of St Vincent De Paul- Twin Cities Minneapolis, MN | $592,562 | $17,408,500 |
Northland Foundation Duluth, MN | $110,895,270 | $27,913,272 |
David Lynch Foundation For Consciousness-Based Education And Fairfield, IA | $9,280,358 | $8,736,448 |
Steve Stricker American Family Insurance Foundation Inc Madison, WI | $5,745,517 | $4,719,862 |
Hope Gospel Mission Inc Eau Claire, WI | $10,860,307 | $6,194,588 |
Community Foundation Of Johnson Coralville, IA | $45,550,796 | $9,673,780 |
The American Center For Philanthropy Inc Northfield, MN | $38,336,369 | $9,301,432 |
Lyon County Riverboat Foundation Inc Rock Rapids, IA | $2,226,608 | $3,365,358 |
Morgan Memorial Foundation Inc Morgan, MN | $3,017,509 | $3,804,451 |