Knoxville Rotary Club Student Loan Fund Inc
- Assets
- $1.7m
- Revenue
- $154.1k
- Investments
- $1.5m
- Employees
- 0
- Location
- Knoxville, TN
- Founding
- 05/1942
- Data as of
- 06/2023
- EIN
- 62-6047101
Organization Overview
Knoxville Rotary Club Student Loan Fund Inc is located in Knoxville, TN. The organization was established in 1942. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Knoxville Rotary Club Student Loan Fund Inc 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 06/2023, Knoxville Rotary Club Student Loan Fund Inc generated $154.1k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (3.0%) each year. All expenses for the organization totaled $171.0k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (1.9%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ROTARY FOUNDATION OF KNOXVILLE WAS INCORPORATED FOR THE PURPOSE OF MAKING LOANS TO DESERVING YOUNG MEN AND WOMEN WHO ARE UNABLE TO ATTEND SCHOOL WITHOUT FINANCIAL ASSISTANCE. THE FOUNDATION CURRENTLY PROVIDES EIGHT, FOUR YEAR SCHOLARSHIPS FOR OUTSTANDING STUDENTS RESIDING IN KNOX COUNTY. THE ORGANIZATION'S SCOPE IS CONTINUING TO BROADEN TO COVER VARIOUS CHARITABLE, PHILANTHROPIC AND EDUCATIONAL CAUSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY SERVICE -PROMOTED LITERACY BY PROVIDING BOOKS TO LOCAL ELEMENTARY SCHOOLS LIBRARY AND CENTRO HISPANO DE EAST TENNESSEE. -SUPPORTED THE YOUNG ARTISTS PROGRAM AT KNOXVILLE MUSEUM OF ART, KNOXVILLE SYMPHONY ORCHESTRA PERFORMANCES, KNOXVILLE OPERA COMPANY PERFORMANCES AND CLARENCE BROWN THEATRE PERFORMANCES. -SPONSORED THE ROTARY CLUB OF KNOXVILLE'S ANNUAL PEACE LUNCHEON. AWARDED A MEMBER OF THIS COMMUNITY WITH THE PEACE AWARD, A 3,000 DONATION TO THE CHARITY OF THE RECIPIENT'S CHOICE. THIS YEAR'S AWARD WINNER WAS VIVIAN SHIPE OF THE VOICE OF THE VOICELESS. -PROVIDED FINANCIAL AND VOLUNTEER SUPPORT FOR THE AREA ROTARY CLUBS' WORLD ROTARY DAY PROJECT AT THE WESLEY HOUSE.
YOUTH SERVICE -AWARDED TWO SCHOLARSHIPS TO COLLEGE-BOUND KNOX COUNTY STUDENTS GOOD FOR 5,000 PER YEAR FOR FOUR YEARS. -CONTINUE TO PROVIDE ANNUAL SCHOLARSHIPS TO SEVEN PRIOR YEAR SCHOLARSHIP AWARD WINNERS -RECOGNIZED LOCAL EDUCATORS CHOSEN AS ROTARY CLUB OF KNOXVILLE'S OUTSTANDING TEACHER OF THE YEAR WITH CASH GIFTS AND OTHER AWARDS. -SUBSIDIZED LOCAL HIGH SCHOOL STUDENTS ATTENDING THE ROTARY YOUTH LEADERSHIP AWARDS LEADERSHIP CONFERENCE. -SUBSIDIZED THE FOOD PROGRAM AT BEAUMONT MAGNET ACADEMY, MAYNARD ELEMENTARY AND LONSDALE ELEMENTARY TO PROVIDE FOOD TO STUDENTS IN NEED DURING SPRING BREAK, FALL BREAK AND HOLIDAY BREAKS. -SPONSORED THE TENNESSEE VALLEY FAIR MEDAL OF HONOR PHOTOGRAPHY COMPETITION. -CONTINUED WITH A READING PROGRAM AT BEAUMONT MAGNET ACADEMY BY PROVIDING VOLUNTEER HOURS FOR THE PROGRAM.
INTERNATIONAL SERVICE -CONTINUED TO SUPPORT AN ADVANCED TRAUMA LIFE SUPPORT SCHOOL FOR DOCTORS AND NURSES IN BULAWAYO, ZIMBABWE. -PROVIDED FINANCIAL SUPPORT FOR CHRISTMAS FOOD BASKETS FOR CHILDREN LIVING IN AN ORPHANAGE IN NAIROBI, KENYA. -PROVIDED ONGOING FUNDING FOR A PRESCHOOL, DAM CONTRUCTION AND TRAFFIC SAFETY PROGRAM IN KNSYNA, SOUTH AFRICA. -PROVIDED FINANCIAL SUPPORT TO THE ROTARY CLUBS OF BULAWAYO SOUTH, ZIMBABWE AND THE INTERACT CLUB OF KNYSNA, SOUTH AFRICA AND NAIROBI, KENYA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kim Denton Director | Trustee | $0 | |
Demetrice Hall Director | Trustee | $0 | |
Joanne Latimer Director | Trustee | $0 | |
Mark Linville Director | Trustee | $0 | |
Andrew Murr Director | Trustee | $0 | |
F Whitfield Addicks Treasurer | Officer | $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 | $108,820 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $108,820 |
| Total Program Service Revenue | $0 |
| Investment income | $237 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $45,054 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $154,111 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $80,788 |
| Grants and other assistance to domestic individuals. | $36,098 |
| Grants and other assistance to Foreign Orgs/Individuals | $42,783 |
| 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 | $10,940 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $40 |
| 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 | $170,987 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $188,515 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,250 |
| 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 | $0 |
| Investments—other securities | $1,457,191 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,655,956 |
| Accounts payable and accrued expenses | $51,220 |
| 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 | $115,000 |
| Total liabilities | $166,220 |
| Net assets without donor restrictions | $0 |
| 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 | $1,489,736 |
| Total liabilities and net assets/fund balances | $1,655,956 |
Grants Awarded
Over the last fiscal year, Knoxville Rotary Club Student Loan Fund Inc has awarded $30,389 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
THRIVE | | | $10,000 |
CENTRO HISPANO | | | $10,000 |
BEAUMONT MAGNET ACADEMY | | | $10,389 |