2023-04-03T16:34:15-05:00 2022-06-30 953001179 WINDES INC PO BOX 87 LONG BEACH CA 90801 990 2021-07-01 956070198 LONG BEACH ROTARY SCHOLARSHIP FOUNDATION LONG 5629994718 400 OCEANGATE 470 LONG BEACH CA 908026390 JEFFREY WIMBISH CFO 5629994718 2023-03-20 1 JEFFREY WIMBISH 999009999 DONITA M JOSEPH P00286656 5624351191 2023-03-20 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z LETTY TOTAH 400 OCEANGATE 470 LONG BEACH CA 908026390 1307710 0 X WWW.LBRSF.ORG X 1963 CA PROVIDE SCHOLARSHIP AWARDS TO COLLEGE STUDENTS. 17 17 0 20 0 0 260359 217425 0 0 339859 286957 154791 158889 755009 663271 344853 367250 0 0 52470 53550 0 0 0 130943 120050 528266 540850 226743 122421 12880762 11370327 13680 14190 12867082 11356137 TO PROVIDE FINANCIAL ASSISTANCE FOR ACHIEVING STUDENTS WHO MEET ELIGIBILITY REQUIREMENTS AND ATTEND LONG BEACH CITY COLLEGE OR CALIFORNIA STATE UNIVERSITY LONG BEACH. 0 0 367250 367250 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. 367250 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 CA X LETTY TOTAH 5629994718 4900 CONANT STREET BUILDING 02 LONG BEACH CA 90808 LARRY JACKSON CHAIR 2.00 X X 0 0 0 CAM KILLINGSWORTH VICE CHAIR 2.00 X X 0 0 0 ROBERT STEUBER CFO UNTIL 06/2022 2.00 X X 0 0 0 JEFFREY WIMBISH CFO 2.00 X X 0 0 0 MARCELLE EPLEY SECRETARY 2.00 X 0 0 0 CRAIG CROSS PAST CHAIR 2.00 X 0 0 0 CRAIG DOUGHERTY PAST CHAIR 2.00 X 0 0 0 FRANK NEWELL PAST CHAIR 2.00 X 0 0 0 VIRGINIA BAXTER BOARD MEMBER 2.00 X 0 0 0 DON COCHRAN BOARD MEMBER 2.00 X 0 0 0 LANCE KENYON BOARD MEMBER 2.00 X 0 0 0 ROBERT LUSKIN BOARD MEMBER 2.00 X 0 0 0 MARK SCHNEIDER BOARD MEMBER 2.00 X 0 0 0 JEAN SMITH BOARD MEMBER 2.00 X 0 0 0 SCOTT APEL BOARD MEMBER/CSULB REPRESENTATIVE 2.00 X 0 0 0 YVONNE GUTIERREZ-SANDOVAL BOARD MEMBER/LBCC REPRESENTATIVE 2.00 X 0 0 0 SUNY LAY CHANG BOARD MEMBER 2.00 X 0 0 0 MARK CURTIS BOARD MEMBER 2.00 X 0 0 0 SILVIA L TOTAH EXECUTIVE DIRECTOR 15.00 X 54360 0 0 54360 0 0 0 0 0 0 0 217425 66433 217425 318185 318185 197917 39028 158889 158889 158889 574183 605411 -31228 -31228 -31228 663271 0 0 445846 367250 367250 53550 53550 3945 3945 20826 20826 62067 62067 300 300 4081 4081 2308 2308 933 933 6726 6726 LICENSE AND FILING FEES 9118 9118 EVENT EXPENSE 8533 8533 FOREIGN TAXES 1168 1168 BANK CHARGES 45 45 540850 367250 173600 0 52339 42333 582331 468234 16452 16945 1142108 771972 395348 370136 11834292 10472679 12880762 11370327 0 510 13680 13680 13680 14190 X 12369499 10853147 497583 502990 12867082 11356137 12880762 11370327 122421 -1633366 0 X 0 1 X 1 0 X X 2 CSULB 49ER FOUNDATION 452163910 6 1 230500 0 LONG BEACH CITY COLLEGE FOUNDATION 953297459 6 1 136750 0 2 367250 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 X 1 1 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 68% 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. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 497583 100000 -76593 18000 502990 369600 1000 140983 14000 497583 329527 50000 3073 13000 369600 278918 50000 21609 21000 329527 221358 68560 11000 278918 1.00000 0 0 251550 251550 721579 639088 82491 166416 130321 36095 2563 2563 0 370136 RENT DEPOSITS 13680 13680 X -1032162 -1633366 -1633366 601204 62067 62067 663271 478783 0 478783 62067 62067 540850 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. 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. 1 CALIFORNIA STATE UNIVERSITY, LONG BEACH (CSULB) SCHOLARSHIPS 90 213000 SLAUGHTER - CALIFORNIA STATE UNIVERSITY, LONG BEACH 2 5000 SLAUGHTER - LONG BEACH CITY COLLEGE 16 11000 NEWELL - CALIFORNIA STATE UNIVERSITY, LONG BEACH 1 5000 LONG BEACH CITY COLLEGE (LBCC) SCHOLARSHIPS 113 121000 NEWELL - LONG BEACH CITY COLLEGE 1 2500 TEMPLE - CALIFORNIA STATE UNIVERSITY, LONG BEACH 2 7500 COCHRAN - LONG BEACH CITY COLLEGE 2 2250 PART I, LINE 2: 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. CRAIG DOUGHERTY CRAIG DOUGHERTY IS A BOARD MEMBER, AND THE OWNER OF PENINSULA CRD, INC. 197917 ON MARCH 11, 1992, THE 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 IS OWNED BY THE DOUGHERTY COMPANY, INC., OF WHICH A MEMBER OF THE SCHOLARSHIP FOUNDATION BOARD OF TRUSTEES IS AFFILIATED. 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 CO. SERVES AS THE PROPERTY MANAGER AND INVOICES THE FOUNDATION FOR RENTAL EXPENSES, SUCH AS INSURANCE, MAINTENANCE, ETC.DURING THE TAX YEAR, THE DOUGHERTY CO. REPORTED THAT IT IS DIVIDING ITS BUSINESS INTO SEPARATE CORPORATIONS. THE DOUGHERTY CO. WILL CONTINUE ITS INSURANCE BUSINESS OPERATIONS AND THE NEW CORPORATION, PENINSULA CRD. INC. (WHICH IS SOLELY OWNED BY CRAIG DOUGHERTY), IS TO HOLD THE OWNERSHIP INTEREST IN THE IRVINE RENTAL PROPERTY. 0 X 2 66433 FMV 0 0 0 PART I, COLUMN (B): THE AMOUNT IN COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS RECEIVED. 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