Wallace Rotary Charities Fund in Wallace, North Carolina (NC)

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Wallace Rotary Charities Fund
Employer Identification Number (EIN)841712193
Name of OrganizationWallace Rotary Charities Fund
In Care of NamePhilip Livermore
Address130 River Woods Dr, Wallace, NC 28466-2388
SubsectionCharitable Organization, Educational Organization
Ruling Date07/2007
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationAssociation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2014
Assets$25,000 to $99,999
Income$10,000 to $24,999
Filing Requirement990 - Required to file Form 990-N - Income less than $25,000 per year
Asset Amount$38,418
Amount of Income$20,398
Form 990 Revenue Amount$12,064
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Community Foundations


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Amount of income in 2014: $20,398 (it was $33,819 in 2013)
Wallace Rotary Charities Fund: 

 $20,398
Other organizations performing similar types of work: 

 $123,400

Assets in 2014: $38,418 (it was $37,922 in 2013)
This organization: 

 $38,418
Other organizations performing similar types of work: 

 $188,019

Expenses in 2014: $11,568
Wallace Rotary Charities Fund: 

 $11,568
Other organizations performing similar types of work: 

 $82,376

Income to expenses ratio in 2014: 1.8
Wallace Rotary Charities Fund: 

 1.8
Other organizations performing similar types of work: 

 5.6

Grants share in income in 2014: 6.2%
Wallace Rotary Charities Fund: 

 6.2%
Other organizations performing similar types of work: 

 20.2%

Financial snapshot ($)

Revenue for 2014

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2011201220132014
Total revenue$14,397$18,779$14,818$12,064
Contributions, gifts, grants, and similar amounts received$5,258$8,294$3,578$750
Program service revenue including government fees and contracts$0$0$0$0
Membership dues and assessments$0$0$0$0
Investment income$0$0$0$0
Gain/Loss from sale of assets other than inventory$0$0$0$0
Net income/loss from gaming and fundraising events$9,139$10,485$11,240$11,314
Gross income from gaming$0$0$0$0
Gross income from fundraising events$24,317$26,934$30,241$19,648
Less: direct expenses from gaming and fundraising events$15,178$16,499$19,001$8,334
Gross profit/loss from sales of inventory$0$0$0$0
Other revenue$0$0$0$0
Total expenses$12,880$15,169$8,797$11,568
Total net assets$28,291$31,901$37,922$38,418
Excess/Deficit for the year$1,517$3,610$6,021$496
Net assets or fund balances at beginning of year$26,774$28,291$31,901$37,922
Other changes in net assets or fund balances$0$0$0$0
Net assets or fund balances at end of year$37,922$38,418
Balance Sheets
2011201220132014
Total assets$28,291$31,901$37,922$38,418
Total liabilities$0$0$0$0
Net assets or fund balances$28,291$31,901$37,922$38,418
Other Information
2011201220132014
Did the organization engage in any significant activity not previously reported to the IRS?NoNo
Were any significant changes made to the organizing or governing documents?NoNo
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNoNoNo
Has the organization filed a Form 990-T for the year?NoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?NoNo
Amount of political expenditures, direct or indirect$0$0
Did the organization file Form 1120-POL for this year?NoNo
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?NoNo
Total amount involved$0$0
Initiation fees and capital contributions$0$0$0$0
Gross receipts for public use of club facilities$0$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?NoNo
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNo
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 supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Section 509(a)(2) (for 2010 - 2014)
2010 - 2014 Total
Public support$145,946
Subtotal$145,946
Gifts, grants, contributions, and membership fees received$20,524
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$125,422
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$145,271
Public support$145,271
Subtotal$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$145,271
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$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1The Taos Community Foundation IncPO BOX 1925, Taos, NM 87571-1925NM1998-12$4,057,729
2National Christian Charitable Foundation Inc, Movement Foundation IncPO BOX 79264, Charlotte, NC 28271-7061NC2001-08$3,650,592
3United Way Of Wayne Co IncPO BOX 73, Goldsboro, NC 27533-0073NC1965-08$1,037,455
4National Christian Charitable Foundation Inc, Piedmont Christian Foundation Inc1 Billy Graham Pkwy, Charlotte, NC 28201-0001NC2001-08$464,197
5United Cancer Alliance Reaching Everyone8223 Tower Point Dr, Charlotte, NC 28227-2000NC2010-05$307,586
6Community Focus Foundation IncP O Box 215, Brevard, NC 28712NC2001-08$194,159
7Walnut Cove Members Association Inc994 Clovertop Ln, Arden, NC 28704-9166NC2013-03$146,647
8World Mission Go Inc8206 Providence Road Suite 1200, Charlotte, NC 28277NC2012-03$117,489
9The Jack Runnion Foundation, Branch Banking & Trust CoPO BOX 2907, Wilson, NC 27894-2907NC2005-03$107,106
10Jacksonville Jaycee Foundation Inc114 Old Bridge St, Jacksonville, NC 28540NC2014-07$104,059
11Focused On A Cure, Focused On A A Cure1418 S Main St, Kannapolis, NC 28081NC2009-09$57,677
12United Way Of Bladen CountyPo Box 2636, Elizabethtown, NC 28337NC2000-08$52,287
13Emilys Kids Foundation IncPO BOX 59, Climax, NC 27233-0059NC2009-09$37,809
14Triad Christian Foundation500 Pineview Dr Ste 111, Kernersville, NC 27284-3813NC2001-08$32,140
15Sapona Charitable Foundation Inc239 Sawgrass Lane North, Lexington, NC 27295NC2003-06$30,810
16Rutherford County Tourism Asset Foundation130 W 6th St, Rutherfordton, NC 28139-2432NC2013-12$29,354
17Wilmington Police Recreation Association615 Bess Street - Po Box 1810, Wilmington, NC 28401NC2007-11$25,180
18Wallace Rotary Charities Fund130 River Woods Dr, Wallace, NC 28466-2388NC2007-07$20,398
19Williams Zone Orchestra Boosters Club1307 S Church St, Burlington, NC 27215-4919NC2014-04$15,534
20Ruritan National Club, Port City Philanthropy Ruritan Club109 Woodford Rd Ne, Leland, NC 28451NC2014-09$8,161
Number of organizations performing similar types of work
Alaska10
Alabama42
Arkansas20
Arizona50
California335
Colorado77
Connecticut51
District of Columbia21
Delaware7
Florida144
Georgia79
Hawaii16
Iowa86
Idaho15
Illinois129
Indiana75
Kansas52
Kentucky26
Louisiana25
Massachusetts83
Maryland76
Maine16
Michigan126
Minnesota62
Missouri48
Mississippi28
Montana45
North Carolina78
North Dakota10
Nebraska44
New Hampshire13
New Jersey99
New Mexico20
Nevada22
New York174
Ohio132
Oklahoma33
Oregon58
Pennsylvania123
Rhode Island20
South Carolina36
South Dakota9
Tennessee37
Texas194
Utah27
Virginia70
Vermont13
Washington71
Wisconsin83
West Virginia22
Wyoming12
International7
Total3,151

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