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Akron Rotary Foundation FY2022 filing

Tax-deductible

New Franklin, OH501(c)(3)Community DevelopmentEIN 34-1698713Revenue $608K in FY2022

On file with the IRSakronrotary.org4460 Rex Lake Dr, 44319-3430 · New Franklin, OHTax-exempt since Feb 1994Publicly supported charity — 170(b)(1)(A)(vi)

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To further charitable activities funded or supported by members of the Akron Rotary club.

501(c)(3) charity; gifts are tax-deductible.
39¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $91K a year · 45% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
39%
of spending
Concern: 39% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
23 mo
of spending, in cash
Looks good: 22.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $2K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$8K
0.3% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$608K
+201% vs prior year
Spent
$54K
To programs
39%
Net assets
$2.2M
By yearFY2020–FY2024
Revenue
$608K
FY2022▲ +201%
Tap a bar for its year
Revenue by fiscal year
FY2020$98K
FY2021$202K
FY2022$608K
FY2023$58K
FY2024$51K
Expenses
$54K
FY2022▼ -0.5%
Tap a bar for its year
Expenses by fiscal year
FY2020$67K
FY2021$54K
FY2022$54K
FY2023$68K
FY2024$321K
Net assets
$2.2M
FY2022▼ -2%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.1M
FY2021$2.3M
FY2022$2.2M
FY2023$2.5M
FY2024$2.5M

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1994.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

39 cents of each dollar spent went to programs.

Program services 39% · $21K Management & general 61% · $33K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Doug Kohl
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Katy Miller
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Jeff Sitz
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
See Akron Rotary Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports charitable projects and activities funded by Akron Rotary Club members.

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Provided by the organization

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2 programs · $21K · in their own filed words · FY2022
01

The foundation provides educational and vocational scholarships are awarded on a non-discriminatory basis to students selected by educators in the school system.

$11Kprogram expense
02

The akron rotary foundation was formed to further charitable activities funded or sponsored by members of the rotary club of akron. Grants were made primarily to the akron rotary camp for children with special needs inc. And other charitable organizations.

$10Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
H E Graves JR Family Foundation INCFY2024$2K
Total grants receivedfrom 1 funder$2K
Grants paid · 8 grants · $333K · 2020–2024
Rotary Camp for Children with Special Needs INCOH · FY2024$258,877
Unitemized GrantFY2024$13,000
Unitemized GrantFY2023$12,000
Rotary InternationalOH · FY2023$7,300
Unitemized GrantFY2022$11,330
100 Black Men of Akron INCOH · FY2022$6,246
Unitemized GrantFY2021$13,000
Unitemized GrantFY2020$11,000

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$608K
Ln 12
Gifts and grantsLn 1h$408K
Investment incomeLn 3$200K
Money outPt IX
$54K
Ln 25
Programscol B$21K
Managementcol C$33K
Owns and owesPt X
$2.2M
net assets · Ln 32
Cash and savingsLn 1–2$103K
Total assetsLn 16$2.2M
LiabilitiesLn 26$8K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$408K
Investment incomeLn 3$200K
Gains on assetsLn 7$164K
Total revenueLn 12$608K
Assets in detailPt X, end of year
SavingsLn 2$103K
Cash and savings togetherLn 1–2$103K
InvestmentsLn 11–13$1.2M
Other assetsLn 15$903K
Total assetsLn 16$2.2M
LiabilitiesLn 26$8K
Net assetsLn 32$2.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$82K$103K
InvestmentsLn 11–13$1.6M$1.2M
Total assetsLn 16$2.3M$2.2M
LiabilitiesLn 26$14K$8K
Net assetsLn 32$2.3M$2.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$10K$10K
Grants to domestic individualsLn 2$11K$11K
Management feesLn 11a$1K$130$1K
Accounting feesLn 11c$7K$7K
Investment management feesLn 11f$22K$22K
Other fees for servicesLn 11g$3K$3K
Total functional expensesLn 25$54K$21K$33K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $51K$321K−$270K$2.5M 990 PDF
FY2023 $58K$68K−$10K$2.5M 990 PDF
FY2022 Viewing $608K$54K$554K$2.2M 990 PDF
FY2021 $202K$54K$148K$2.3M 990 PDF
FY2020 $98K$67K$31K$2.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $607,834 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $5,862$407,800
I-9 Program service revenue$0
I-10 Investment incomePrior year $196,078$200,034
I-11 Other revenue$0
I-12 Total revenuePrior year $201,940$607,834
I-13 Grants and similar amounts paidPrior year $23,203$21,001
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $30,904$32,817
I-18 Total expensesPrior year $54,107$53,818
I-19 Revenue less expensesPrior year $147,833$554,016
Part VI · Governance 9 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $607,834 across 5 lines filed
VIII-1f All other contributions, gifts and grants$407,800
VIII-1h Total contributions, gifts and grants$407,800
VIII-3 Investment incomeExcluded from tax $35,946$35,946
VIII-7 Net gain or loss on sales of assetsRelated to mission $164,088$164,088
VIII-12 Total revenueRelated to mission $164,088 · Excluded from tax $35,946$607,834
Part IX · Statement of functional expenses $53,818 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $9,671$9,671
IX-2 Grants to domestic individualsPrograms $11,330$11,330
IX-11a Management feesPrograms $130 · Management $1,170$1,300
IX-11c Accounting feesManagement $7,208$7,208
IX-11f Investment management feesManagement $21,540$21,540
IX-11g Other fees for servicesManagement $2,769$2,769
IX-25 Total functional expensesPrograms $21,131 · Management $32,687 · Fundraising $0$53,818
Part X · Balance sheet $2,246,196 assets, 12 lines filed
X-2 Savings and temporary cash investmentsStart of year $81,961$102,871
X-4 Accounts receivableStart of year $2,000$3,875
X-11 Publicly traded securitiesStart of year $1,579,248$1,236,075
X-15 Other assetsStart of year $624,498$903,375
X-16 Total assetsStart of year $2,287,707$2,246,196
X-17 Accounts payable and accrued expensesStart of year $5,650$1,800
X-18 Grants payableStart of year $8,670$6,000
X-26 Total liabilitiesStart of year $14,320$7,800
X-27 Net assets without donor restrictionsStart of year $2,269,558$1,746,825
X-28 Net assets with donor restrictionsStart of year $3,829$491,571
X-32 Total net assets or fund balancesStart of year $2,273,387$2,238,396
X-33 Total liabilities and net assetsStart of year $2,287,707$2,246,196
Part XI · Reconciliation of net assets $2,238,396 net assets at year end
XI-1 Total revenue$607,834
XI-2 Total expenses$53,818
XI-3 Revenue less expenses$554,016
XI-4 Net assets at start of year$2,273,387
XI-5 Net unrealized gains (losses) on investments−$589,007
XI-10 Net assets at end of year$2,238,396

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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