Bloomington Rotary Foundation
- Assets
- $520.3k
- Revenue
- $81.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Bloomington, MN
- Founding
- 08/1991
- Data as of
- 06/2024
- EIN
- 41-1649217
Organization Overview
Bloomington Rotary Foundation is located in Bloomington, MN. The organization was established in 1991. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bloomington 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 06/2024, Bloomington Rotary Foundation generated $81.7k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 18.1% each year . All expenses for the organization totaled $73.9k during the year ending 06/2024. While expenses have increased by 26.0% per year over the past 4 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
SUPPORTS CHARITABLE ORGANIZATIONS IN BLOOMINGTON, MINNESOTA AND SURROUNDING AREA. FOCUS IS ON YOUTH, EDUCATION AND BASIC NEEDS OF INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AMOUNTS DONATED TO CHARITIES AND OTHER EXEMPT ORGANIZATIONS: AAVISHKAAR USA- $2,000; AAVISHKAAR SPECIAL SUPPORT- $14,108; ARTISTRY -$1,000; BLOOMINGTON PUBLIC SCHOOLS- $20,000;BLOOMINGTON SYMPHONY ORCHESTRA- $1,000 CORNERSTONE - $1,176; EDUCATION FOUNDATION OF BLOOMINGTON -$4,000; INT'L VILLAGE CLINIC - $4,500; NORMANDALE COMMUNITY COLLEGE FOUNDATION -$2,500; OASIS FOR YOUTH -$3,000; ROTARY DISTRICT SPECIAL PROJECTS- $1,550; VEAP -$5,000
STRIVE PROGRAM IN BLOOMINGTON HIGH SCHOOLS, INCLUDING SCHOLARSHIPS AND PROGRAM COSTS - $14,069
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Adkins Director | Trustee | 1 | $0 |
Karyn Arazi Director | Trustee | 1 | $0 |
Paul Niederberger Director | Trustee | 1 | $0 |
Debbie Belfry Director | Trustee | 1 | $0 |
Becky Amble President | Officer | 1 | $0 |
Larry Lee Secretary | Officer | 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 | $44,856 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $44,856 |
| Total Program Service Revenue | $0 |
| Investment income | $36,840 |
| 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 | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $81,696 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $73,903 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $6 |
| 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 | $73,909 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,123 |
| Savings and temporary cash investments | $2,120 |
| 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 | $512,096 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $520,339 |
| Accounts payable and accrued expenses | $35,302 |
| 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 | $35,302 |
| Net assets without donor restrictions | $485,037 |
| 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 | $520,339 |
Grants Awarded
Over the last fiscal year, Bloomington Rotary Foundation has awarded $36,108 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
INDEPENDENT SCHOOL DISTRICT 271 PURPOSE: ASSIST IN FUNDING MIDDLE SCHOOL ATHLETIC PROGRAMS | $20,000 |
AAVISHKAAR USA PURPOSE: SUPPORT ORGANIZATION'S EFFORTS TO EDUCATE DISADVANTAGED YOUTH IN RURAL INDIA, FOCUSING ON STEM TEACHING METHODS AND IMPROVING TEACHING IN SCHOOLS, AS WELL AS DEVELOPING STUDENT SKILLS AND CREATING SKILLS TO USE IN THE WORKFORCE. | $16,108 |