Culver City Rotary Community Foundation
- Assets
- $12.8m
- Revenue
- $832.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Culver City, CA
- Founding
- 07/1987
- Data as of
- 06/2022
- EIN
- 95-4103705
Organization Overview
Culver City Rotary Community Foundation is located in Culver City, CA. The organization was established in 1987. According to its NTEE Classification (T31) the organization is classified as: Community 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. Culver City Rotary Community 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, Culver City Rotary Community Foundation generated $832.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 29.2% each year . All expenses for the organization totaled $153.1k during the year ending 06/2022. While expenses have increased by 6.8% 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.
Since 2019, Culver City Rotary Community Foundation has awarded 37 individual grants totaling $300,099. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE CULVER CITY ROTARY COMMUNITY FOUNDATION IS TO PROVIDE FINANCIAL SUPPORT ON A CONTINUING BASIS FOR LOCAL CHARITABLE ORGANIZATIONS AND TO FUND HUMANITARIAN PROJECTS THAT PROMOTE EDUCATION OR SOCIAL WELFARE PURPOSES. THE FOUNDATION IS A NOT-FOR-PROFIT CORPORATION SUPPORTED SOLELY BY CONTRIBUTIONS FROM MEMBERS OF THE ROTARY CLUB OF CULVER CITY AND FRIENDS OF THE FOUNDATION WHO SHARE THE ROTARY VISION OF WORLD UNDERSTANDING, GOODWILL, AND PEACE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY SERVICE: THE FOUNDATION SPONSORS AND SUPPORTS VARIOUS COMMUNITY SERVICE PROGRAMS, SUCH AS: 1) THE CULVER CITY SCHOOL WEEKEND BACKPACK PROGRAM, WHICH PROVIDES BACKPACKS FILLED WITH FOOD FOR DISADVANTAGED YOUTH, 2) THE CULVER CITY TEEN CENTER, 3) THE CULVER CITY COMMUNITY SCHOLARSHIP FUND THAT AWARDS SCHOLARSHIPS TO HIGH SCHOOL GRADUATES TO CONTINUE THEIR EDUCATION, 4) THE CULVER-PALMS YMCA WHO WORK TO ENRICH THE LIVES OF FAMILIES IN THE COMMUNITY, AND 5) THE LOCAL BOY SCOUT TROUP AND CULVER CITY HIGH SCHOOL STUDENT CLUBS THAT PROVIDE VARIOUS SERVICES THROUGHOUT THE COMMUNITY AND TEACHES THEIR PARTICIPANTS LEADERSHIP AND LIFE SKILLS.
INTERNATIONAL SERVICE: THE FOUNDATION ACTIVELY PARTICIPATES IN STUDENT AND GROUP STUDY EXCHANGE PROGRAMS WITH AUSTRALIA, INDIA, AND JAPAN BY SPONSORING, HOSTING, AND ARRANGING FOR PARTICIPANTS TO TRAVEL TO, AND LEARN ABOUT, OTHER COUNTRIES AND CULTURES. THE FOUNDATION HAS ALSO PROVIDED FUNDING FOR ROTARY INTERNATIONAL'S HUMANITARIAN AID PROJECTS, SUCH AS THEIR POLIO PLUS CAMPAIGN TO ERADICATE POLIO WORLDWIDE AND PROVIDE CORRECTIVE SURGERY TO POLIO VICTIMS AND THEIR WHEELCHAIR PROJECT AND MEDICAL CLINICS IN DEVELOPING COUNTRIES.
YOUTH SERVICE: THE FOUNDATION SUPPORTS VARIOUS CULVER CITY SCHOOL DISTRICT PROGRAMS IN THEIR GRADES K-12, INCLUDING THE DICTIONARY PROJECT, THE INTERACT CLUB'S FOOD DRIVES, AND OTHER INTRAMURAL HIGH SCHOOL PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles R Perelman President | OfficerTrustee | 4 | $0 |
Lyn Caron Director/treasurer | OfficerTrustee | 4 | $0 |
Carmela Raack Secretary | OfficerTrustee | 4 | $0 |
Janet Chabola Director | Trustee | 2 | $0 |
Keith Jones Director | Trustee | 2 | $0 |
Rod Miyata 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 | $129,920 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $129,920 |
| Total Program Service Revenue | $0 |
| Investment income | $357,568 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $345,396 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $832,884 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $82,449 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $6,000 |
| 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 | $9,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $54,775 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $568 |
| 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 | $270 |
| Total functional expenses | $153,062 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $251,346 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,073,662 |
| 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 | $9,511,073 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,836,081 |
| 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 | $12,836,081 |
| 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 | $12,836,081 |
Grants Awarded
Over the last fiscal year, Culver City Rotary Community Foundation has awarded $60,965 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
CULVER-PALMS FAMILY YMCA PURPOSE: ANNUAL OPERATING SUPPORT | $10,400 |
ROTARY INTERNATIONAL DISTRICT 5280 PURPOSE: TO SUPPORT HUMANITARIAN AND COMMUNITY AID | $9,485 |
BOYS SCOUTS OF AMERICA PURPOSE: TO SUPPORT YOUTH CAMP AND CAMPERSHIP FUND | $5,580 |
EXCHANGE CLUB OF CULVER CITY PURPOSE: TO SUPPORT FEED CULVER PROGRAM | $5,000 |
CULVER CITY UNIFIED SCHOOL DISTRICT PURPOSE: TEACHER GRANTS FOR CLASSROOM PROJECTS | $8,000 |
GRACE DINER PURPOSE: GENERAL SUPPORT FOR PROVIDING MEALS AND MEDICAL/DENTAL SERVICES TO UNDERSERVED COMMUNITIES | $5,000 |