Akron Rotary Foundation
- Assets
- $2.2m
- Revenue
- $607.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Akron, OH
- Founding
- 02/1994
- Data as of
- 12/2022
- EIN
- 34-1698713
Organization Overview
Akron Rotary Foundation is located in Akron, OH. The organization was established in 1994. According to its NTEE Classification (S82) the organization is classified as: Mens 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. Akron 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 12/2022, Akron Rotary Foundation generated $607.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $53.8k during the year ending 12/2022. 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
TO FURTHER CHARITABLE ACTIVITIES FUNDED OR SUPPORTED BY MEMBERS OF THE AKRON ROTARY CLUB.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE AKRON ROTARY FOUNDATION WAS FORMED TO FURTHER CHARITABLE ACTIVITIES FUNDED OR SPONSORED BY MEMBERS OF THE ROTARY CLUB OF AKRON. GRANTS WERE MADE PRIMARILY TO THE AKRON ROTARY CAMP FOR CHILDREN WITH SPECIAL NEEDS INC. AND OTHER CHARITABLE ORGANIZATIONS.
THE FOUNDATION PROVIDES EDUCATIONAL AND VOCATIONAL SCHOLARSHIPS ARE AWARDED ON A NON-DISCRIMINATORY BASIS TO STUDENTS SELECTED BY EDUCATORS IN THE SCHOOL SYSTEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marcia Holcomb Trustee | Trustee | 0.5 | $0 |
Doug Kohl President | OfficerTrustee | 2 | $0 |
Carol Marturano-Becker Trustee | Trustee | 0.5 | $0 |
Katy Miller Vice Preside | OfficerTrustee | 0.5 | $0 |
Rima Muakkassa Trustee | Trustee | 0.5 | $0 |
Michael Shearer Trustee | Trustee | 0.5 | $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 | $407,800 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $407,800 |
| Total Program Service Revenue | $0 |
| Investment income | $35,946 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $164,088 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $607,834 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $9,671 |
| Grants and other assistance to domestic individuals. | $11,330 |
| 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 | $1,300 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,208 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $21,540 |
| Fees for services: Other | $2,769 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $53,818 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $102,871 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,875 |
| 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 | $1,236,075 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $903,375 |
| Total assets | $2,246,196 |
| Accounts payable and accrued expenses | $1,800 |
| Grants payable | $6,000 |
| 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 | $7,800 |
| Net assets without donor restrictions | $1,746,825 |
| Net assets with donor restrictions | $491,571 |
| 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 | $2,246,196 |