Summit Rotary Foundation Inc in Greensboro, North Carolina (NC)
Table of contents:
| Summit Rotary Foundation Inc | |
| Employer Identification Number (EIN) | 202529234 |
| Name of Organization | Summit Rotary Foundation Inc |
| In Care of Name | John R Morgan |
| Address | PO BOX 4583, Greensboro, NC 27404-4583 |
| Subsection | Charitable Organization |
| Ruling Date | 05/2006 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 06/2014 |
| Assets | $100,000 to $499,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $428,145 |
| Amount of Income | $157,536 |
| Form 990 Revenue Amount | $75,877 |
| National Taxonomy of Exempt Entities (NTEE) | Arts, Culture and Humanities: Fund Raising and/or Fund Distribution |
Non-representatives - add comments:
Amount of income in 2014: $157,536 (it was $201,616 in 2013)
| This organization: | $157,536 |
| Other organizations performing similar types of work: | $82,884 |
Assets in 2014: $428,145 (it was $391,534 in 2013)
| Summit Rotary Foundation Inc: | $428,145 |
| Other organizations performing similar types of work: | $56,205 |
Expenses in 2014: $73,208
| Summit Rotary Foundation Inc: | $73,208 |
| Other organizations performing similar types of work: | $50,053 |
Income to expenses ratio in 2014: 2.2
| This organization: | 2.2 |
| Other organizations performing similar types of work: | 1.3 |
Grants share in income in 2014: 16.5%
| This organization: | 16.5% |
| Other organizations performing similar types of work: | 71.1% |
Revenue for 2014
Support schedule
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | ||||
| 2011 | 2012 | 2013 | 2014 | |
|---|---|---|---|---|
| Total revenue | $95,112 | $87,817 | $75,877 | |
| Contributions, gifts, grants, and similar amounts received | $90,550 | $29,898 | $12,505 | |
| Program service revenue including government fees and contracts | $0 | $0 | $0 | |
| Membership dues and assessments | $0 | $0 | $0 | |
| Investment income | $4,562 | $3,013 | $10,736 | |
| Gain/Loss from sale of assets other than inventory | $0 | $0 | $82 | |
| Gross amount from sale of assets other than inventory | $0 | $0 | $64,330 | |
| Less: cost or other basis and sales expenses | $0 | $0 | $64,248 | |
| Net income/loss from gaming and fundraising events | $0 | $54,906 | $0 | $52,554 |
| Gross income from gaming | $0 | $0 | $0 | $0 |
| Gross income from fundraising events | $0 | $73,557 | $69,965 | |
| Less: direct expenses from gaming and fundraising events | $0 | $18,651 | $17,411 | |
| Gross profit/loss from sales of inventory | $0 | $0 | $0 | |
| Other revenue | $0 | $0 | $0 | |
| Total expenses | $46,442 | $38,928 | $73,208 | |
| Total net assets | $264,421 | $312,865 | $428,145 | |
| Excess/Deficit for the year | $48,670 | $48,889 | $2,669 | |
| Net assets or fund balances at beginning of year | $182,743 | $264,421 | $391,534 | |
| Other changes in net assets or fund balances | $33,008 | $-445 | $33,942 | |
| Net assets or fund balances at end of year | $428,145 | |||
| Balance Sheets | ||||
| 2011 | 2012 | 2013 | 2014 | |
|---|---|---|---|---|
| Total assets | $277,416 | $312,876 | $391,534 | $428,145 |
| Total liabilities | $12,995 | $11 | $0 | $0 |
| Net assets or fund balances | $264,421 | $312,865 | $428,145 | |
| Other Information | ||||
| 2011 | 2012 | 2013 | 2014 | |
|---|---|---|---|---|
| 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 | No | No | |
| Has the organization filed a Form 990-T for the year? | No | 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 | $0 | $0 | |
| Gross receipts for public use of club facilities | $0 | $0 | $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 | No | ||
| Reason for Public Charity Status (for 2014) | |
| The organization is not a private foundation because it is: | An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi) |
| Number of organizations supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2010 - 2014) | |
| 2010 - 2014 Total | |
|---|---|
| Public Support | $456,176 |
| Subtotal Support | $456,176 |
| Gifts, grants, contributions, and membership fees received | $456,176 |
| 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 |
| The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support | $0 |
| Total Support | $483,951 |
| Public Support | $456,176 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $27,775 |
| Net income from unrelated business activities, whether or not the business is regularly carried on | $0 |
| Other income. Do not include gain or loss from the sale of capital assets | $0 |
| Gross receipts from related activities, etc. | $69,965 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | The Greater Charlotte Cultural Trust | 220 N Tryon St, Charlotte, NC 28202-2137 | NC | 2003-05 | $14,368,779 |
| 2 | Paramount Theatre Foundation | PO BOX 2063, Goldsboro, NC 27533-2063 | NC | 2007-03 | $32,320 |
| 3 | Frank M Hardy Trust Uw, F & M Bank Winchester Trustee | PO BOX 2907, Wilson, NC 27894-2907 | NC | 2003-07 | $816,737 |
| 4 | Foundation For The Mint Museum | 220 N Tryon St, Charlotte, NC 28202-2137 | NC | 2006-06 | $669,514 |
| 5 | Flying Fish Project Inc | 5511 Capital Center Dr Ste 105, Raleigh, NC 27606-3365 | NC | 2002-03 | $582,672 |
| 6 | Arts Council Endowment Fund Inc | 305 West 4th Street Suite 1-C, Winston Salem, NC 27101 | NC | 2008-07 | $288,746 |
| 7 | Summit Rotary Foundation Inc | PO BOX 4583, Greensboro, NC 27404-4583 | NC | 2006-05 | $157,536 |
| 8 | Friends Of Hyde Countys Historic 1854 Court House | PO BOX 54, Swan Quarter, NC 27885 | NC | 2010-11 | $21,106 |
| 9 | Angel Band Foundation Inc | 264 Becks Church Road, Lexington, NC 27292 | NC | 2007-04 | $0 |
| 10 | Applause For The Cause | 1447 Little Rock Rd, Charlotte, NC 28214-2314 | NC | 2015-03 | $0 |
| 11 | B I G Ride | 1501 Waxhaw Indian Trail Rd, Waxhaw, NC 28173 | NC | 2001-03 | $0 |
| 12 | Cary High School Performing Arts Booster Club | 638 Walnut Street, Cary, NC 27511 | NC | 2013-05 | $0 |
| 13 | Ella May Wiggins Memorial Committee | 103 North Ransom Street, Gastonia, NC 28052 | NC | 2014-08 | $0 |
| 14 | Hatteras Island Arts & Crafts Guild | PO BOX 1062, Buxton, NC 27920-1062 | NC | 2015-04 | $0 |
| 15 | Northwest School Of The Arts Plano Booster Club | 1415 Beatties Ford Road, Charlotte, NC 28216 | NC | 2006-06 | $0 |
| 16 | Paul J Tsang Foundation | 104 Garden Gate Dr, Chapel Hill, NC 27516-5989 | NC | 2000-04 | $0 |
| 17 | Smoking In The Foothills | 309 Sheldon Street, Hudson, NC 28638 | NC | 2015-03 | $0 |
| 18 | Southern Middle School Cheer, Sms Cheer | 2407 Pepperstone Dr, Graham, NC 27253-8469 | NC | 2014-09 | $0 |
| 19 | Together4tanner Foundation Inc | PO BOX 15341, New Bern, NC 28562 | NC | 2014-09 | $0 |
| 20 | Upbeat Wnc Inc | 183 King St, Brevard, NC 28712-3376 | NC | 2015-03 | $0 |
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