Rotary Club Of Metairie Scholarship Foundation Inc in Metairie, Louisiana (LA)

Advertisements

Table of contents:

Rotary Club Of Metairie Scholarship Foundation Inc
Employer Identification Number (EIN)	461639117
Name of Organization	Rotary Club Of Metairie Scholarship Foundation Inc
In Care of Name	Harold A Buchler Jr
Address	3014 Metairie Rd, Metairie, LA 70001-5302
Subsection	Charitable Organization, Educational Organization
Ruling Date	08/2014
Deductibility	Contributions are deductible
Foundation	Organization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
Organization	Corporation
Exempt Organization Status	Unconditional Exemption
Tax Period	06/2014
Assets	$100,000 to $499,999
Income	$25,000 to $99,999
Filing Requirement	990 (all other) or 990EZ return
Asset Amount	$371,711
Amount of Income	$83,376
Form 990 Revenue Amount	$80,815
National Taxonomy of Exempt Entities (NTEE)	Educational Institutions and Related Activities: Scholarships, Student Financial Aid Services, Awards

Non-representatives - add comments:

Amount of income in 2014: $83,376

This organization:	$83,376
Other organizations performing similar types of work:	$41,680

Assets in 2014: $371,711

This organization:	$371,711
Other organizations performing similar types of work:	$65,579

Expenses in 2014: $21,100

Rotary Club Of Metairie Scholarship Foundation Inc:	$21,100
Other organizations performing similar types of work:	$24,470

Income to expenses ratio in 2014: 4.0

Rotary Club Of Metairie Scholarship Foundation Inc:	4.0
Other organizations performing similar types of work:	0.5

Grants share in income in 2014: 27.9%

Rotary Club Of Metairie Scholarship Foundation Inc:	27.9%
Other organizations performing similar types of work:	9.0%

Financial snapshot for 2014 ($)

Revenue for 2014

Support schedule

	2014
Revenue, Expenses, and Changes in Net Assets or Fund Balances
Total revenue	$80,815
Contributions, gifts, grants, and similar amounts received	$22,554
Program service revenue including government fees and contracts	$0
Membership dues and assessments	$0
Investment income	$7,872
Gain/Loss from sale of assets other than inventory	$539
Gross amount from sale of assets other than inventory	$3,100
Less: cost or other basis and sales expenses	$2,561
Net income/loss from gaming and fundraising events	$0
Gross profit/loss from sales of inventory	$0
Other revenue	$49,850
Total expenses	$21,100
Total net assets	$371,711
Excess/Deficit for the year	$59,715
Net assets or fund balances at beginning of year	$311,996
Other changes in net assets or fund balances	$0
Net assets or fund balances at end of year	$371,711

	2014
Other Information
Did the organization engage in any significant activity not previously reported to the IRS?	No
Were any significant changes made to the organizing or governing documents?	No
Did the organization have unrelated business gross income of $1,000 or more during the year from business activities	No
Has the organization filed a Form 990-T for the year?	No
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?	No
Amount of political expenditures, direct or indirect	$0
Did the organization file Form 1120-POL for this year?	No
Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return?	No
Total amount involved	$0
Initiation fees and capital contributions	$0
Gross receipts for public use of club facilities	$0
Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ?	No
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?	No

Reason for Public Charity Status (for 2014)
The organization is not a private foundation because it is:	An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Number of organizations supported	0
Sum of amounts of support	$0

	2010 - 2014 Total
Support Schedule for Organizations Described in Section 509(a)(2) (for 2010 - 2014)
Public support	$22,554
Subtotal	$22,554
Gifts, grants, contributions, and membership fees received	$22,554
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose	$0
Gross receipts from activities that are not an unrelated trade or business under section 513	$0
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf	$0
The value of services or facilities furnished by a governmental unit to the organization without charge	$0
Less	$0
Amounts received from disqualified persons	$0
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support	$0
Total support	$80,815
Public support	$22,554
Subtotal	$7,872
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources	$7,872
Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975	$0
Net income from unrelated business activities, whether or not the business is regularly carried on	$0
Other income	$50,389