Newark Rotary Club Foundation
- Assets
- $252.0k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Newark, OH
- Founding
- 11/1989
- EIN
- 31-1256961
Organization Overview
Newark Rotary Club Foundation is located in Newark, OH. The organization was established in 1989. According to its NTEE Classification (S80) the organization is classified as: Community Service Clubs, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newark Rotary Club 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 undefined, Newark Rotary Club Foundation generated $84.4k 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 (7.7%) each year. All expenses for the organization totaled $42.3k during the year ending undefined. As we would expect to see with falling revenues, expenses have declined by (6.4%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
Describe the Organization's Program Activity:
Part 3
THE FOUNDATION DIRECTS ITS EMPHASIS AND ITS GIVING TO THE FOLLOWING THREE AREAS: EDUCATION AT ALL LEVELS, CHILDREN WITH SPECIAL NEEDS AND THE ADVANCEMENT AND PERPETUATION OF THE AMERICAN FREE ENTERPRISE SYSTEM BY FUNDING SCHOLARSHIP PROGRAMS, ORIGINATING AND SUPPORTING COMMUNITY PROJECTS SUCH AS THE ROTARY PAVILLION PARK AND THE ROTARY PLAYGROUND . THE PLAYGROUND IS USED BY ALL CHILDREN AND HAS BEEN DESIGNED TO ACCOMMODATE CHILDREN THAT MAY HAVE SPECIAL NEEDS. SPONSORING CAMP ENTERPRISE N/K/A "FREE ENTERPRISE ACADEMY" WHICH IS A FREE 3 DAY INTENSIVE PROGRAM OFFERED TO 50 HIGH SCHOOL SENIORS THAT EXPOSES THE STUDENTS TO THE CONCEPTS OF A FREE ENTERPRISE ECONOMIC SYSTEM IN ORDER TO INCREASE THEIR UNDERSTANDING OF REAL LIFE BUSINESS OBJECTIVES. THESE PROGRAMS EXPERIENCED A TEMPORARY DECREASE IN PARTICIPATION DUE TO COVID 19 RESTRICTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Molly Ingold Chair | 2 | $0 | |
James Francis Treasurer | 2 | $0 | |
Eriech Horvath Trustee | 1 | $0 | |
Barb Quackenbush Trustee | 1 | $0 | |
Gary Baker Trustee | 1 | $0 | |
Jack Neely Vice Chair | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $82,250 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $2,179 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $84,429 |
| Statement of Expenses | |
|---|---|
| Total expenses | $42,272 |
| Balance Sheet | |
|---|---|
| Total assets | $251,951 |
| Total liabilities | $0 |
| Net assets or fund balances | $251,951 |
Grants Awarded
Over the last fiscal year, Newark Rotary Club Foundation has awarded $16,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NEWARK CAMPUS DEVELOPMENT FUND PURPOSE: SCHOLARSHIP FUND | $10,000 |
ROTARY INTERNATIONAL - THE NEWARK OHIO CLUB PURPOSE: USE FOR VARIOUS ROTARIAN CAUSES | $6,000 |