Westminster Rotary Scholarship Foundation
- Assets
- $184.1k
- Revenue
- $7.5k
- Investments
- $184.1k
- Employees
- 0
- Location
- Salem, SC
- Founding
- 08/2007
- Data as of
- 12/2023
- EIN
- 64-0963693
Organization Overview
Westminster Rotary Scholarship Foundation is located in Salem, SC. The organization was established in 2007. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Westminster Rotary Scholarship 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 12/2023, Westminster Rotary Scholarship Foundation generated $7.5k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $18.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS FOR POST-SECONDARY EDUCATION FOR GRADUATING WEST-OAK HIGH SCHOOL SENIORS BASED DON ACADEMIC NERUTM CITIZENSHIP AND NEED. IN 2023 PAID14 SCHOLARSHIPS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peggy Moore President | 2 | $0 | |
Connie Spencer Treasurer | 3 | $0 | |
Sandra Powell Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $7,120 |
| Interest on Savings | $0 |
| Dividends & Interest | $4,391 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$4,037 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $7,474 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $249 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $2,341 |
| Contributions, gifts, grants paid | $16,600 |
| Total expenses and disbursements | $18,941 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $184,071 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Westminster Rotary Scholarship Foundation has awarded $10,000 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
THERESA DANIEL PURPOSE: SCHOLARSHIP | $1,000 |
GRACIE HERRING PURPOSE: SCHOLARSHIP | $1,000 |
CORY HOLCOMB PURPOSE: SCHOLARSHIP | $1,000 |
CAROLINE MCKENZIE PURPOSE: SCHOLARSHIP | $1,000 |
JARED KURT ROGERS PURPOSE: SCHOLARSHIP | $1,000 |
CARLEY SEWELL PURPOSE: SCHOLARSHIP | $1,000 |