LONG BEACH ROTARY SCHOLARSHIP FOUNDATION INC: Form 990, tax year 2022
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- Organization
- LONG BEACH ROTARY SCHOLARSHIP FOUNDATION INC (EIN 95-6070198)
- Tax period
- 2022-07-01 to 2023-06-30
- Filed
- 2024-04-25
- IRS object ID
- 202421169349301747
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-04-25T18:51:38-05:00 | ReturnTs |
| Tax Period End | 2023-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 953001179 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WINDES INC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 87 | AddressLine1Txt |
| City | LONG BEACH | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 90801 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 956070198 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LONG BEACH ROTARY SCHOLARSHIP | BusinessNameLine1Txt |
| Business Name Line2 | FOUNDATION | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | LONG | BusinessNameControlTxt |
| Phone | 5629994718 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 400 OCEANGATE 470 | AddressLine1Txt |
| City | LONG BEACH | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 908026390 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | LETTY TOTAH | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 5629994718 | PhoneNum |
| Signature | 2024-04-22 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | LETTY | PersonFirstNm |
| Person Last | TOTAH | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | DONITA M JOSEPH | PreparerPersonNm |
| PTIN | P00286656 | PTIN |
| Phone | 5624351191 | PhoneNum |
| Preparation | 2024-04-22 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | LETTY TOTAH | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 400 OCEANGATE 470 | AddressLine1Txt |
| City | LONG BEACH | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 908026390 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $786,845 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.LBRSF.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1963 | FormationYr |
| Legal Domicile State | CA | LegalDomicileStateCd |
| Activity Or Mission | PROVIDE SCHOLARSHIP AWARDS TO COLLEGE STUDENTS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 20 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 20 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 20 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $217,425 | PYContributionsGrantsAmt |
| CY Contributions Grants | $123,779 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $286,957 | PYInvestmentIncomeAmt |
| CY Investment Income | $410,563 | CYInvestmentIncomeAmt |
| PY Other Revenue | $158,889 | PYOtherRevenueAmt |
| CY Other Revenue | $156,975 | CYOtherRevenueAmt |
| PY Total Revenue | $663,271 | PYTotalRevenueAmt |
| CY Total Revenue | $691,317 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $367,250 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $418,132 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $53,550 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $59,024 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $120,050 | PYOtherExpensesAmt |
| CY Other Expenses | $120,114 | CYOtherExpensesAmt |
| PY Total Expenses | $540,850 | PYTotalExpensesAmt |
| CY Total Expenses | $597,270 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $122,421 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $94,047 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $11,370,327 | TotalAssetsBOYAmt |
| Total Assets EOY | $12,082,062 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $14,190 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $20,944 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $11,356,137 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $12,061,118 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO PROVIDE FINANCIAL ASSISTANCE FOR ACHIEVING STUDENTS WHO MEET ELIGIBILITY REQUIREMENTS AND ATTEND LONG BEACH CITY COLLEGE OR CALIFORNIA STATE UNIVERSITY LONG BEACH. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $418,132 | ExpenseAmt |
| Grant | $418,132 | GrantAmt |
| Desc | THE FOUNDATION PROVIDES FUNDS FOR SCHOLARSHIPS AND GRANTS-IN-AID TO STUDENTS ENROLLED IN A COURSE OF EDUCATION AT CALIFORNIA STATE UNIVERSITY, LONG BEACH AND LONG BEACH CITY COLLEGE. | Desc |
| Total Program Service Expenses | $418,132 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (1) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | Yes (1) | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 1 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | Yes (1) | QuidProQuoContributionsInd |
| Quid Pro Quo Contri Discl | Yes (1) | QuidProQuoContriDisclInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 20 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 20 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | CA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LETTY TOTAH | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5629994718 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4900 CONANT STREET BUILDING 02 | AddressLine1Txt |
| City | LONG BEACH | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 90808 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (21 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| JEFFREY WIMBISH | ||||||
| CFO | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| CAM KILLINGSWORTH | ||||||
| CHAIR | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| ROBYN GORDON-PETERSON | ||||||
| VICE CHAIR | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| SUNY LAY CHANG | ||||||
| SECRETARY | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| LARRY JACKSON | ||||||
| PAST CHAIR | 2.00 | Yes (X) | $0 | $0 | $0 | |
| CRAIG CROSS | ||||||
| PAST CHAIR | 2.00 | Yes (X) | $0 | $0 | $0 | |
| CRAIG DOUGHERTY | ||||||
| PAST CHAIR | 2.00 | Yes (X) | $0 | $0 | $0 | |
| FRANK NEWELL | ||||||
| PAST CHAIR | 2.00 | Yes (X) | $0 | $0 | $0 | |
| MARCELLE EPLEY | ||||||
| BOARD MEMBER | 2.00 | Yes (X) | $0 | $0 | $0 | |
| VIRGINIA BAXTER | ||||||
| BOARD MEMBER | 2.00 | Yes (X) | $0 | $0 | $0 | |
| DON COCHRAN | ||||||
| BOARD MEMBER | 2.00 | Yes (X) | $0 | $0 | $0 | |
| LANCE KENYON | ||||||
| BOARD MEMBER | 2.00 | Yes (X) | $0 | $0 | $0 | |
| ROBERT LUSKIN | ||||||
| BOARD MEMBER | 2.00 | Yes (X) | $0 | $0 | $0 | |
| MARK SCHNEIDER | ||||||
| BOARD MEMBER | 2.00 | Yes (X) | $0 | $0 | $0 | |
| JEAN SMITH | ||||||
| BOARD MEMBER | 2.00 | Yes (X) | $0 | $0 | $0 | |
| MARK CURTIS | ||||||
| BOARD MEMBER | 2.00 | Yes (X) | $0 | $0 | $0 | |
| SUMER TEMPLE | ||||||
| BOARD MEMBER | 2.00 | Yes (X) | $0 | $0 | $0 | |
| ANTHONY GALES | ||||||
| BOARD MEMBER | 2.00 | Yes (X) | $0 | $0 | $0 | |
| SCOTT APEL | ||||||
| BOARD MEMBER/CSULB REPRESENTATIVE | 2.00 | Yes (X) | $0 | $0 | $0 | |
| YVONNE GUTIERREZ-SANDOVAL | ||||||
| BOARD MEMBER/LBCC REPRESENTATIVE | 2.00 | Yes (X) | $0 | $0 | $0 | |
| SILVIA L TOTAH | ||||||
| EXECUTIVE DIRECTOR | 15.00 | Yes (X) | $57,060 | $0 | $0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $57,060 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $123,779 | AllOtherContributionsAmt |
| Noncash Contributions | $10,707 | NoncashContributionsAmt |
| Total Contributions | $123,779 | TotalContributionsAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $345,393 | TotalRevenueColumnAmt |
| Exclusion | $345,393 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $203,854 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $46,879 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $156,975 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $156,975 | TotalRevenueColumnAmt |
| Exclusion | $156,975 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $113,819 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $48,649 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $65,170 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $65,170 | TotalRevenueColumnAmt |
| Exclusion | $65,170 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $691,317 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $567,538 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $418,132 | TotalAmt |
| Program Services | $418,132 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $59,024 | TotalAmt |
| Management And General | $59,024 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $22,935 | TotalAmt |
| Management And General | $22,935 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $55,146 | TotalAmt |
| Management And General | $55,146 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,583 | TotalAmt |
| Management And General | $5,583 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,535 | TotalAmt |
| Management And General | $1,535 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,869 | TotalAmt |
| Management And General | $7,869 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|
| EVENT EXPENSE | $15,437 | $15,437 |
| LICENSE AND FILING FEES | $10,289 | $10,289 |
| FOREIGN TAXES | $1,300 | $1,300 |
| BANK CHARGES | $20 | $20 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $597,270 | TotalAmt |
| Program Services | $418,132 | ProgramServicesAmt |
| Management And General | $179,138 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $42,333 | BOYAmt |
| EOY | $35,302 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $468,234 | BOYAmt |
| EOY | $556,182 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,945 | BOYAmt |
| EOY | $17,453 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $1,143,727 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $792,558 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $370,136 | BOYAmt |
| EOY | $351,169 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,472,679 | BOYAmt |
| EOY | $11,121,956 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,370,327 | BOYAmt |
| EOY | $12,082,062 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $510 | BOYAmt |
| EOY | $7,264 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,680 | BOYAmt |
| EOY | $13,680 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,190 | BOYAmt |
| EOY | $20,944 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,853,147 | BOYAmt |
| EOY | $11,361,646 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $502,990 | BOYAmt |
| EOY | $699,472 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,356,137 | BOYAmt |
| EOY | $12,061,118 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,370,327 | BOYAmt |
| EOY | $12,082,062 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $94,047 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $610,934 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | Yes (X) | SupportingOrganization509a3Ind |
| Supporting Org Type3 Func Int | Yes (X) | SupportingOrgType3FuncIntInd |
| Supported Organizations | 2 | SupportedOrganizationsCnt |
Supported Org Information SupportedOrgInformationGrp (2 entries)
| EINEIN | Organization TypeOrganizationTypeCd | Governing Document ListedGoverningDocumentListedInd | SupportSupportAmt | Other SupportOtherSupportAmt |
|---|---|---|---|---|
| CSULB 49ER FOUNDATION | ||||
| 452163910 | 6 | Yes (1) | $295,632 | $0 |
| LONG BEACH CITY COLLEGE FOUNDATION | ||||
| 953297459 | 6 | Yes (1) | $122,500 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supported Organizations Total | 2 | SupportedOrganizationsTotalCnt |
| Support Sum | $418,132 | SupportSumAmt |
| Other Support Sum | $0 | OtherSupportSumAmt |
Form990 Sch A Supporting Org Form990SchASupportingOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Listed By Name Governing Doc | Yes (1) | ListedByNameGoverningDocInd |
| Suprt Org No IRS Determination | 0 | SuprtOrgNoIRSDeterminationInd |
| Supported Org Section C456 | 0 | SupportedOrgSectionC456Ind |
| Supported Org Not Organized US | 0 | SupportedOrgNotOrganizedUSInd |
| Organization Change Suprt Org | 0 | OrganizationChangeSuprtOrgInd |
| Support Non Supported Org | 0 | SupportNonSupportedOrgInd |
| Payment Substantial Contribtr | 0 | PaymentSubstantialContribtrInd |
| Loan Disqualified Person | 0 | LoanDisqualifiedPersonInd |
| Controlled Disqualified Prsn | 0 | ControlledDisqualifiedPrsnInd |
| Disqualified Prsn Controll Int | 0 | DisqualifiedPrsnControllIntInd |
| Disqualified Prsn Ownr Int | 0 | DisqualifiedPrsnOwnrIntInd |
| Excess Business Holdings Rules | 0 | ExcessBusinessHoldingsRulesInd |
| Contribution Controller | 0 | ContributionControllerInd |
| Contribution Family | 0 | ContributionFamilyInd |
| Contribution35 Controlled | 0 | Contribution35ControlledInd |
Form990 Sch A Type3 Sprt Org All Form990SchAType3SprtOrgAllGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timely Provided Documents | Yes (1) | TimelyProvidedDocumentsInd |
| Officers Close Relationship | Yes (1) | OfficersCloseRelationshipInd |
| Supported Org Voice Investment | 0 | SupportedOrgVoiceInvestmentInd |
Form990 Sch A Type3 Func Int Form990SchAType3FuncIntGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Activities Test | Yes (X) | ActivitiesTestInd |
| Activities Further Exempt Prps | Yes (1) | ActivitiesFurtherExemptPrpsInd |
| Activities Engaged Org Invlmnt | Yes (1) | ActivitiesEngagedOrgInvlmntInd |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, SECTION E, LINE 2A: | THE LONG BEACH ROTARY SCHOLARSHIP FOUNDATION PROVIDES FUNDS FOR SCHOLARSHIPS AND GRANTS-IN-AID TO STUDENTS ENROLLED IN A COURSE OF EDUCATION AT CALIFORNIA STATE UNIVERSITY, LONG BEACH AND LONG BEACH CITY COLLEGE. THESE GRANTS-IN-AID QUALIFY AS PAYMENTS THAT DIRECTLY FURTHER THE EXEMPT PURPOSE OF BOTH CSULB 49ER FOUNDATION AND LONG BEACH CITY COLLEGE FOUNDATION UNDER REGULATIONS SECTION 1.509(A)-4(I)(4)(II)(D). THE FOUNDATION IS ABLE TO MONITOR THE USE OF STUDENTS' GRANTS IN TWO WAYS. 1. AT BOTH CAL STATE LONG BEACH AND LONG BEACH CITY COLLEGE, STUDENTS ARE NOT GIVEN THEIR GRANT DISBURSEMENT UNTIL AFTER THE SCHOOL'S CENSUS DATE (I.E. DROP DATE). THIS ENSURES THAT GRANTEES ARE FULFILLING THEIR OBLIGATIONS THAT NEED TO BE SATISFIED IN ORDER TO RECEIVE THE SCHOLARSHIPS. 2. AT CAL STATE LONG BEACH, THE GRANT IS DEPOSITED DIRECTLY INTO THE STUDENT'S SCHOOL ACCOUNT ENSURING THE MONEY IS USED FOR ITS INTENDED PURPOSE. AT LONG BEACH CITY COLLEGE, ONCE STUDENTS MEET THEIR ELIGIBILITY REQUIREMENTS, THEIR DISBURSEMENTS ARE CREDITED TO THEIR STUDENT DEBIT CARD TO BE USED FOR SCHOOL-RELATED EXPENSES ON CAMPUS (I.E. TUITION, FEES, BOOKS AND MATERIALS). ELIGIBILITY REQUIREMENTS FOR STUDENTS AT BOTH SCHOOLS ARE TO MAINTAIN FULL TIME STATUS WITH A MINIMUM 12 UNITS PER SEMESTER AND A MINIMUM GPA OF 2.0+. BUT FOR LONG BEACH ROTARY SCHOLARSHIP FOUNDATION, THESE SCHOLARSHIP PROGRAMS WOULD BE ENGAGED IN BY ITS SUPPORTED ORGANIZATIONS. THE DIRECTORS OF CSULB 49ER FOUNDATION AND LONG BEACH CITY COLLEGE FOUNDATION MAINTAIN A CLOSE AND CONTINUOUS RELATIONSHIP WITH THE FOUNDATION. THE PRESIDENT OF CSULB AND LONG BEACH CITY COLLEGE SIT ON THE BOARD OF EACH SUPPORTED ORGANIZATION AND APPOINT DIRECTORS ON LONG BEACH ROTARY SCHOLARSHIP FOUNDATION'S BOARD. BECAUSE OF THIS RELATIONSHIP, THESE DIRECTORS HAVE A SIGNIFICANT VOICE IN EACH ORGANIZATION'S TIMING OF GRANTS, SELECTION OF GRANT RECIPIENTS, AND MANNER OF MAKING GRANTS. ALL OF THE FOUNDATION'S ACTIVITIES DURING THE TAX YEAR DIRECTLY FURTHERED THE EXEMPT PURPOSES OF CSULB 49ER FOUNDATION AND LONG BEACH CITY COLLEGE FOUNDATION AS 70% OF THE FOUNDATION'S EXPENSES WERE GRANT EXPENSES. |
| PART IV, SECTION E, LINE 2B: | THE MISSION OF THE LONG BEACH ROTARY SCHOLARSHIP FOUNDATION (LBRSF) IS TO PROVIDE THE RESOURCES TO DESERVING STUDENTS WITH AVERAGE AND ABOVE-AVERAGE GRADES SO THAT THEY MAY ATTEND LONG BEACH CITY COLLEGE (LBCC) OR CALIFORNIA STATE UNIVERSITY, LONG BEACH (CSULB). LBCC AND CSULB BOTH ALREADY PROVIDE SCHOLARSHIPS TO STUDENTS AND WOULD CONTINUE TO PROVIDE SCHOLARSHIPS IN THE ABSENCE OF THE LBRSF'S ASSISTANCE. IT IS LBRSF'S GOAL TO ASSIST THOSE STUDENTS WHO MIGHT OTHERWISE NOT QUALIFY FOR A SCHOLARSHIP AND HAVE A DESIRE TO LEARN AND BECOME RESPONSIBLE AND PRODUCTIVE CITIZENS. |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $502,990 | BeginningYearBalanceAmt |
| Contributions | $155,000 | ContributionsAmt |
| Investment Earnings Or Losses | $61,482 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | -$20,000 | GrantsOrScholarshipsAmt |
| End Year Balance | $699,472 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $497,583 | BeginningYearBalanceAmt |
| Contributions | $100,000 | ContributionsAmt |
| Investment Earnings Or Losses | -$76,593 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $18,000 | GrantsOrScholarshipsAmt |
| End Year Balance | $502,990 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $369,600 | BeginningYearBalanceAmt |
| Contributions | $1,000 | ContributionsAmt |
| Investment Earnings Or Losses | $140,983 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $14,000 | GrantsOrScholarshipsAmt |
| End Year Balance | $497,583 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $329,527 | BeginningYearBalanceAmt |
| Contributions | $50,000 | ContributionsAmt |
| Investment Earnings Or Losses | $3,073 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $13,000 | GrantsOrScholarshipsAmt |
| End Year Balance | $369,600 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $278,918 | BeginningYearBalanceAmt |
| Contributions | $50,000 | ContributionsAmt |
| Investment Earnings Or Losses | $21,609 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $21,000 | GrantsOrScholarshipsAmt |
| End Year Balance | $329,527 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Term Endowment Balance EOY | 1.00000 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | 0 | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $251,550 | OtherCostOrOtherBasisAmt |
| Book Value | $251,550 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $721,579 | OtherCostOrOtherBasisAmt |
| Depreciation | $659,674 | DepreciationAmt |
| Book Value | $61,905 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $166,416 | OtherCostOrOtherBasisAmt |
| Depreciation | $130,321 | DepreciationAmt |
| Book Value | $36,095 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,182 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,563 | DepreciationAmt |
| Book Value | $1,619 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $351,169 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | RENT DEPOSITS | Desc |
| Amt | $13,680 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $13,680 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $1,247,105 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $610,934 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $610,934 | RevenueNotReportedAmt |
| Revenue Subtotal | $636,171 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $55,146 | InvestmentExpensesNotIncldAmt |
| Revenue Not Reported Fincl Stmt | $55,146 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $691,317 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $542,124 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $542,124 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $55,146 | InvestmentExpensesNotIncld2Amt |
| Expenses Not Rpt Fincl Stmt | $55,146 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $597,270 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART V, LINE 4: | THE FOUNDATION RECEIVED CONTRIBUTIONS WITH DONOR RESTRICTIONS FOR THE NEWELL FAMILY SCHOLARSHIP FUND TO BENEFIT OUTSTANDING HIGH SCHOOL STUDENTS FROM LONG BEACH POLYTECHNIC HIGH SCHOOL (POLY) AND LONG BEACH WILSON HIGH SCHOOL (WILSON). UNDER THIS SCHOLARSHIP PROGRAM, FUNDS ARE TO BE GIVEN EACH YEAR TO INCOMING FRESHMEN AT LONG BEACH CITY COLLEGE (LBCC) AND CALIFORNIA STATE UNIVERSITY, LONG BEACH (CSULB) WHO HAVE GRADUATED FROM POLY OR WILSON. THESE ARE STUDENTS WHO HAVE OVERCOME CHALLENGES AND WHO ARE A SOURCE OF INSPIRATION THROUGH THEIR ACCOMPLISHMENTS AND SERVICE TO THE COMMUNITY. AT LEAST 5% OF THE NET ASSET VALUE OF THE FUND IS TO BE USED EACH YEAR TO FUND THESE SCHOLARSHIPS. THE FOUNDATION RECEIVED CONTRIBUTIONS WITH DONOR RESTRICTIONS FOR THE TEMPLE FAMILY SCHOLARSHIP FUND TO BENEFIT OUTSTANDING UPPER-DIVISION STUDENTS CURRENTLY ATTENDING CSULB AND MAJORING IN AEROSPACE ENGINEERING OR A RELATED FIELD. THE FOUNDATION RECEIVED CONTRIBUTIONS WITH DONOR RESTRICTIONS FOR THE COCHRAN FAMILY SCHOLARSHIP FUND TO BENEFIT INCOMING STUDENTS AT LBCC WHO GRADUATED FROM JUAN RODRIGUEZ CABRILLO HIGH SCHOOL (CABRILLO), DAVID STARR JORDAN HIGH SCHOOL (JORDAN), OR OTHER INCOMING FRESHMAN AT LBCC WHO RESIDE IN NORTH LONG BEACH AND GRADUATED FROM A LONG BEACH UNIFIED SCHOOL DISTRICT HIGH SCHOOL. THESE ARE TO BE STUDENTS WHO HAVE OVERCOME A PERSONAL HARDSHIP AND DEMONSTRATED INSPIRATION MOVING FORWARD. IF THE SCHOLARSHIP RECIPIENT MAINTAINS THE MINIMUM NUMBER OF UNITS AND GRADE POINT AVERAGE, THE STUDENT MAY AUTOMATICALLY RENEW THE SCHOLARSHIP FOR UP TO TWO ADDITIONAL YEARS AT LBCC. THE FOUNDATION RECEIVED CONTRIBUTIONS WITH DONOR RESTRICTIONS FOR THE SCHNEIDER FAMILY SCHOLARSHIP FUND TO BENEFIT STUDENTS WITH LEARNING DIFFERENCES. THE SCHOLARSHIP SHALL BE AWARDED TO AN INCOMING FRESHMAN THAT HAS A LEARNING DIFFERENCE, RECENTLY GRADUATED FROM A LBUSD HIGH SCHOOL AND ACCEPTED INTO CSULB. |
| PART X, LINE 2: | FIN 48: THE FOUNDATION RECOGNIZES THE FINANCIAL STATEMENT BENEFIT OF TAX POSITIONS, SUCH AS ITS FILING STATUS OF TAX-EXEMPT, ONLY AFTER DETERMINING THAT THE RELEVANT TAX AUTHORITY WOULD MORE LIKELY THAN NOT SUSTAIN THE POSITION FOLLOWING AN AUDIT. THE FOUNDATION IS SUBJECT TO POTENTIAL INCOME TAX AUDITS ON OPEN TAX YEARS BY ANY TAXING JURISDICTION IN WHICH IT OPERATES. THE STATUTE OF LIMITATIONS FOR FEDERAL AND CALIFORNIA PURPOSES IS GENERALLY THREE AND FOUR YEARS, RESPECTIVELY. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (8 entries)
| Grant TypeGrantTypeTxt | RecipientRecipientCnt | Cash GrantCashGrantAmt |
|---|---|---|
| CALIFORNIA STATE UNIVERSITY, LONG BEACH (CSULB) SCHOLARSHIPS | 107 | $271,632 |
| SLAUGHTER - CALIFORNIA STATE UNIVERSITY, LONG BEACH | 4 | $10,000 |
| SLAUGHTER - LONG BEACH CITY COLLEGE | 23 | $11,100 |
| NEWELL - CALIFORNIA STATE UNIVERSITY, LONG BEACH | 3 | $9,000 |
| LONG BEACH CITY COLLEGE (LBCC) SCHOLARSHIPS | 87 | $104,650 |
| NEWELL - LONG BEACH CITY COLLEGE | 2 | $4,500 |
| TEMPLE - CALIFORNIA STATE UNIVERSITY, LONG BEACH | 1 | $5,000 |
| COCHRAN - LONG BEACH CITY COLLEGE | 2 | $2,250 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE LONG BEACH ROTARY SCHOLARSHIP FOUNDATION IS ABLE TO MONITOR THE USE OF STUDENTS GRANTS IN TWO WAYS. 1. AT BOTH CAL STATE LONG BEACH AND LONG BEACH CITY COLLEGE, STUDENTS ARE NOT GIVEN THEIR GRANT DISBURSEMENT UNTIL AFTER THE SCHOOL'S DROP DATE. THIS ENSURES THAT GRANTEES ARE FULFILLING THEIR OBLIGATION THAT NEED TO BE SATISFIED IN ORDER TO RECEIVE THE SCHOLARSHIPS. 2. AT CAL STATE LONG BEACH, THE GRANT IS DEPOSITED DIRECTLY INTO THE STUDENT'S SCHOOL ACCOUNT ENSURING THE MONEY IS USED FOR ITS INTENDED PURPOSE. AT LONG BEACH CITY COLLEGE, STUDENTS ARE NOT ABLE TO PICK UP THEIR DISBURSEMENTS UNTIL AFTER THEY HAVE PAID FOR THEIR SCHOOL FEES. BECAUSE OF THIS, THE PAYMENT IS A REIMBURSEMENT FOR EDUCATIONAL EXPENSES. | ExplanationTxt |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CRAIG DOUGHERTY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | BOARD MEMBER, AFFILIATE OF DOUGHERTY COMPANY & PENINSULA CRD, INC. | RelationshipDescriptionTxt |
| Transaction | $203,854 | TransactionAmt |
| Transaction | ON MARCH 11, 1992, THE LONG BEACH ROTARY SCHOLARSHIP FOUNDATION (THE FOUNDATION) BOARD OF DIRECTORS ACCEPTED A DONATION OF AN UNDIVIDED ONE-HALF INTEREST IN IMPROVED INDUSTRIAL PROPERTY LOCATED IN IRVINE, CALIFORNIA FROM THE ALBERT REINGARDT FOUNDATION. THE REMAINING ONE-HALF INTEREST WAS OWNED BY THE DOUGHERTY COMPANY, INC. UNTIL JULY 25, 2019, WHEN OWNERSHIP WAS TRANSFERRED TO PENINSULA, CRD, INC. A MEMBER OF THE SCHOLARSHIP FOUNDATION BOARD OF DIRECTORS IS AFFILIATED WITH THE DOUGHERTY COMPANY, INC. AND PENINSULA CRD, INC. THE PROPERTY WAS RECORDED AT ITS FAIR MARKET VALUE AS OF THE DATE OF THE DONATION. UNDER THE DONATION AGREEMENT, THE FOUNDATION IS CREDITED THE MONTHLY INCOME. THE DOUGHERTY COMPANY, INC. SERVES AS THE PROPERTY MANAGER AND INVOICES THE FOUNDATION FOR RENTAL EXPENSES, SUCH AS INSURANCE, MAINTENANCE, ETC. THE FOUNDATION'S SHARE OF RENTAL INCOME FOR THE YEAR ENDED JUNE 30, 2023 WAS $203,854. | TransactionDesc |
| Sharing Of Revenues | 0 | SharingOfRevenuesInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | DESCRIBE THE PROCESS THE ORGANIZATION USES TO REVIEW FORM 990. THE FOUNDATION RECEIVES A COPY OF THE ORGANIZATION'S FORM 990, AS PREPARED BY WINDES, INC., WHICH IS REVIEWED BY THE EXECUTIVE BOARD PRIOR TO FILING THE DOCUMENT WITH THE IRS. AFTER THE EXECUTIVE BOARD HAS REVIEWED THE FORM AND ANY CHANGES OR UPDATES ARE MADE, THE FINAL COPY OF THE 990 IS ELECTRONICALLY CIRCULATED TO ALL BOARD MEMBERS PRIOR TO FILING THE FORM WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C | DESCRIBE HOW THE ORGANZATION MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. ANNUALLY, THE EXECUTIVE DIRECTOR OF THE ORGANIZATION UPDATES THE CONFLICT OF INTEREST POLICY AND RE-DISTRIBUTES IT TO THE BOARD MEMBERS. BOARD MEMBERS THEN READ AND SIGN THE POLICY. POLICIES ARE THEN COLLECTED FROM THE BOARD MEMBERS AND HELD ON FILE AT THE ROTARY OFFICE. MEMBERS WITH A CONFLICT OF INTEREST WILL NOT BE A MEMBER OF A COMMITTEE IN WHICH THE CONFLICT OF INTEREST IS RELEVANT. FOR INSTANCE, CRAIG DOUGHERTY IS 50% OWNER OF THE INVESTMENT PROPERTY (IN WHICH THE OTHER 50% IS OWNED BY LBRSF). CRAIG IS NOT A MEMBER OF THE INVESTMENT COMMITTEE AND DOES NOT MAKE ANY DECISIONS BASED ON THE PROPERTY ON BEHALF OF THE LBRSF. |
| FORM 990, PART VI, SECTION B, LINE 15A | DESCRIBE THE PROCESS USED TO DETERMINE THE COMPENSATION OF THE ORGANZATION'S EXECUTIVE DIRECTOR. THE EXECUTIVE DIRECTOR IS COMPENSATED AT AN HOURLY RATE THAT IS SET AND VOTED ON BY THE FULL BOARD OF DIRECTORS. ALL COMPENSATION IS SUPPORTED BY DETAILED TIME SHEETS OUTLINING WORK PERFORMED BY THE EXECUTIVE DIRECTOR ON BEHALF OF THE FOUNDATION. |
| FORM 990, PART VI, SECTION C, LINE 19 | DESCRIBE HOW THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. THE ORGANIZATION'S FORM 990, FORM 1023, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THEY ARE LOCATED AT: LONG BEACH ROTARY SCHOLARSHIP FOUNDATION 400 OCEANGATE, SUITE 470 LONG BEACH, CA 90802 |
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