Palm Beach Rotary Foundation
- Assets
- $457.9k
- Revenue
- $46.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Palm Beach, FL
- Founding
- 11/1985
- Data as of
- 06/2022
- EIN
- 59-2551031
Organization Overview
Palm Beach Rotary Foundation is located in Palm Beach, FL. The organization was established in 1985. 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. Palm Beach 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 06/2022, Palm Beach Rotary Foundation generated $46.5k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.9% each year . All expenses for the organization totaled $66.5k during the year ending 06/2022. While expenses have increased by 4.4% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
A NON-PROFIT CORPORATION ORGANIZED SOLEY FOR GENERAL EDUCATION, RELIGIOUS, CHARITABLE AND SCIENTIFIC PURPOSES WHICH ANNUAL PROVIDES GRANTS AND DONATIONS, LOCALLY, REGIONALLY, INTERNATIONALLY, AND ISSUES COLLEGE SCHOLARSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENT SCHOLARSHIPS PAID TO UNIVERSITIES
DISASTER RELIEF, SCHOLARSHIPS, LOCAL SCHOOL AND CHILDREN'S PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chung Wong President | OfficerTrustee | 5 | $0 |
Riccardo Boehm Vice Preside | OfficerTrustee | 2 | $0 |
Lourdes Vogelsang Secretary | OfficerTrustee | 2 | $0 |
Thomas Bradford Treasurer | OfficerTrustee | 5 | $0 |
Jacqueline Albarran Director-Sgt | OfficerTrustee | 2 | $0 |
Richard Giles Director | Trustee | 2 | $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 | $3,159 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,159 |
| Total Program Service Revenue | $0 |
| Investment income | $41,232 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,112 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $46,503 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,225 |
| 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 | $1,500 |
| Office expenses | $494 |
| Information technology | $870 |
| 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 | $38,456 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $66,545 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,342 |
| 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 | $455,546 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $457,888 |
| 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 | $457,888 |
| 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 | $457,888 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Palm Beach Rotary Foundation has recieved totaling $400.
| Awarding Organization | Amount |
|---|---|
Arnold Foundation Palm Beach, FL PURPOSE: SUPPORTING CHARITABLE ACTIVITIES | $400 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dannon Project Birmingham, AL | $2,922,674 | $5,792,591 |
211 Tampa Bay Cares Inc Clearwater, FL | $2,619,145 | $5,287,939 |
Heart Of Ga Community Action Council Inc Warner Robins, GA | $1,148,335 | $3,700,784 |
Community Assistance Center Inc Atlanta, GA | $5,646,342 | $4,660,397 |
Mt Olive Community Outreach Center Inc Albany, GA | $5,405,895 | $2,935,637 |
Crisis Services Of North Alabama Huntsville, AL | $1,726,026 | $2,795,919 |
Anna Maria Island Lodge 2188 Loyal Order Of Moose Bradenton Beach, FL | $5,635,764 | $2,307,558 |
Leadership Florida Statewide Community Foundation Inc Tallahassee, FL | $4,479,499 | $2,568,005 |
Georgia Mountain Womens Center Inc Cornelia, GA | $2,086,462 | $1,989,958 |
Johns Island Community Service League Vero Beach, FL | $3,149,247 | $2,126,679 |
Project Safe Inc Athens, GA | $2,591,445 | $1,791,637 |
The Heritage Foundation Inc Thomasville, GA | $962,718 | $1,646,670 |