Spokane Downtown Rotary Endowment Fund
- Assets
- $2.5m
- Revenue
- $245.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Spokane, WA
- Founding
- 04/1995
- Data as of
- 06/2022
- EIN
- 91-1663352
Organization Overview
Spokane Downtown Rotary Endowment Fund is located in Spokane, WA. The organization was established in 1995. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spokane Downtown Rotary Endowment Fund 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, Spokane Downtown Rotary Endowment Fund generated $245.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $96.4k during the year ending 06/2022. While expenses have increased by 3.5% 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
SPOKANE ROTARY FOUNDATION ACCEPTS CONTRIBUTIONS AND THEN INVESTS AND MANAGES THESE CONTRIBUTIONS IN PERPETUITY. A PERCENTAGE OF THE FAIR MARKET VALUE (3 YEAR AVERAGE)IS DISTRIBUTED TO ROTARY COMMUNITY SERVICES, INC.ON A QUARTERLY BASIS. ROTARY COMMUNITY SERVICES, INC. THEN DISTRIBUTES THE MONEY THROUGH ITS CHARITABLE COMMITTEES INCLUDING YOUTH SERVICES, DISABILITIES, CIVIC AFFAIRS, VOCATIONAL SERVICES (INCLUDING SCHOLARSHIPS) AND INTERNATIONAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION MAINTAINS AN ENDOWMENT WHICH IS INVESTED TO EARN A RETURN WHICH IS DISTRIBUTED TO ROTARY COMMUNITY SERVICES, INC FOR DISTRIBUTION BY THEIR COMMITTEES WHICH INCLUDE YOUTH SERVICES, DISABILITIES, CIVIC AFFAIRS, VOCATIONAL SERVICES INCLUDING SCHOLARSHIPS, AND INTERNATIONAL SERVICES.
THE ORGANIZATION MAINTAINS AN ENDOWMENT WHICH IS INVESTED TO EARN A RETURN WHICH IS DISTRIBUTED TO ROTARY COMMUNITY SERVICES, INC FOR DISTRIBUTION BY THEIR COMMITTEES WHICH INCLUDE YOUTH SERVICES, DISABILITIES, CIVIC AFFAIRS, VOCATIONAL SERVICES INCLUDING SCHOLARSHIPS, AND INTERNATIONAL SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lawrence Stanley President | OfficerTrustee | $0 | |
Jack Reeves Vice Preside | OfficerTrustee | $0 | |
Thomas M Patrick Secretary /t | OfficerTrustee | $0 | |
Kyle Weir Trustee | Trustee | $0 | |
William Papesh Trustee | Trustee | $0 | |
Murray Huppin Trustee | Trustee | $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 | $36,775 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $36,775 |
| Total Program Service Revenue | $0 |
| Investment income | $213,251 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,909 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $245,117 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $96,446 |
| 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 | $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 | $96,446 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $36,876 |
| 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 | $2,487,532 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,524,408 |
| 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 | $656,525 |
| Net assets with donor restrictions | $1,867,883 |
| 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 | $2,524,408 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Spokane Downtown Rotary Endowment Fund has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: Arts, Culture & Humanities | $10,000 |
Endowment Analysis
| Beg. Balance | $2,896,182 |
| Earnings | -$317,011 |
| Net Contributions | $36,775 |
| Grants | $96,446 |
| Ending Balance | $2,524,408 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Omprakash Inc Seattle, WA | $1,303,902 | $8,335,902 |
Momsrising Education Fund Bellevue, WA | $13,735,648 | $12,363,267 |
Community In Action Ontario, OR | $2,870,959 | $6,588,152 |
Tsf Services Seattle, WA | $41,582 | $5,196,264 |
Invested Renton, WA | $10,800,874 | $5,096,103 |
Malaria No More Fund Seattle, WA | $7,196,882 | $3,765,133 |
Emergency Feeding Program Of Seattle & King County Renton, WA | $889,754 | $3,848,246 |
Seattle International Foundation Seattle, WA | $3,557,476 | $2,971,233 |
Arctic Slope Community Foundation Anchorage, AK | $12,635,878 | $4,961,869 |
Morning Star Foundation Spokane, WA | $12,059,803 | $675,586 |
Kaiser Borsari Educational Foundation Bellingham, WA | $10,206,898 | $1,033,814 |
Lematta Foundation Seattle, WA | $33,950,050 | $4,649,425 |