LONG BEACH ROTARY SCHOLARSHIP FOUNDATION INC: Form 990, tax year 2013

View the entire original 990 at ProPublica ↗

Organization
LONG BEACH ROTARY SCHOLARSHIP FOUNDATION INC (EIN 95-6070198)
Tax period
2013-07-01 to 2014-06-30
Filed
2015-02-06
IRS object ID
201520379349301267
Schema version
2013v4.0
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

FieldValueIRS element (for citing)
Return2015-02-06T20:31:38-06:00ReturnTs
Tax Period End2014-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN953001179PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1WINDES INCBusinessNameLine1

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 87AddressLine1
CityLONG BEACHCity
StateCAState
ZIP Code908010087ZIPCode
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2013-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN956070198EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1LONG BEACH ROTARY SCHOLARSHIP FOUNDATIONBusinessNameLine1
FieldValueIRS element (for citing)
Business Name ControlLONGBusinessNameControlTxt
Phone5624368181PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11119 QUEENS HIGHWAY NO 103AddressLine1
CityLONG BEACHCity
StateCAState
ZIP Code908026390ZIPCode

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJAMES WORSHAMPersonNm
Person TitleCFOPersonTitleTxt
Phone5624368181PhoneNum
Signature2015-01-22SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonDONITA M JOSEPHPreparerPersonNm
PTINP00286656PTIN
Phone5624351191PhoneNum
Preparation2015-01-22PreparationDt
FieldValueIRS element (for citing)
Tax2013TaxYr
Build TS2016-02-25 16:41:14ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerLETTY TOTAHPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line11119 QUEENS HIGHWAY NO 103AddressLine1
CityLONG BEACHCity
StateCAState
ZIP Code908026390ZIPCode
FieldValueIRS element (for citing)
Gross Receipts$2,271,651GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.ROTARYLONGBEACH.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1963FormationYr
Legal Domicile StateCALegalDomicileStateCd
Activity Or MissionPROVIDE SCHOLARSHIP AWARDS TO COLLEGE STUDENTS.ActivityOrMissionDesc
Voting Members Governing Body15VotingMembersGoverningBodyCnt
Voting Members Independent14VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers15TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$100,820PYContributionsGrantsAmt
CY Contributions Grants$24,251CYContributionsGrantsAmt
PY Program Service Revenue$0PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$424,621PYInvestmentIncomeAmt
CY Investment Income$389,800CYInvestmentIncomeAmt
PY Other Revenue$100,918PYOtherRevenueAmt
CY Other Revenue$102,307CYOtherRevenueAmt
PY Total Revenue$626,359PYTotalRevenueAmt
CY Total Revenue$516,358CYTotalRevenueAmt
PY Grants And Similar Paid$276,150PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$284,500CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$13,962PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$17,976CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$56,116PYOtherExpensesAmt
CY Other Expenses$62,091CYOtherExpensesAmt
PY Total Expenses$346,228PYTotalExpensesAmt
CY Total Expenses$364,567CYTotalExpensesAmt
PY Revenues Less Expenses$280,131PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$151,791CYRevenuesLessExpensesAmt
Total Assets BOY$7,847,054TotalAssetsBOYAmt
Total Assets EOY$8,670,819TotalAssetsEOYAmt
Total Liabilities BOY$38,980TotalLiabilitiesBOYAmt
Total Liabilities EOY$68,380TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$7,808,074NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$8,602,439NetAssetsOrFundBalancesEOYAmt
MissionTO 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 Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$284,500ExpenseAmt
Grant$284,500GrantAmt
DescTHE 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$284,500TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B RequiredYes (1)ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Temp Or Permanent EndowmentsYes (1)TempOrPermanentEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To IndividualsYes (1)GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With Officer EntYes (1)BusinessRlnWithOfficerEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document1IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee0EmployeeCnt
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members15GoverningBodyVotingMembersCnt
Independent Voting Member14IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower Policy0WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldCAStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1MADRID ZIMMERMANBusinessNameLine1
FieldValueIRS element (for citing)
Phone5624368181PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11119 QUEENS HIGHWAY NO 103AddressLine1
CityLONG BEACHCity
StateCAState
ZIP Code908026390ZIPCode

Form990 Part VII Section A Form990PartVIISectionAGrp (17 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
CRAIG DOUGHERTY
CHAIR2.00Yes (X)Yes (X)$0$0$0
CAM KILLINGSWORTH
VICE-CHAIR2.00Yes (X)Yes (X)$0$0$0
JAMES WORSHAM
CFO2.00Yes (X)Yes (X)$0$0$0
MARK SCHNEIDER
SECRETARY2.00Yes (X)Yes (X)$0$0$0
FRANK NEWELL
PAST CHAIR2.00Yes (X)Yes (X)$0$0$0
TOM CLARK
BOARD MEMBER2.00Yes (X)$0$0$0
DON COCHRAN
BOARD MEMBER2.00Yes (X)$0$0$0
CRAIG CROSS
BOARD MEMBER2.00Yes (X)$0$0$0
MARK CURTIS
BOARD MEMBER2.00Yes (X)$0$0$0
JERRY LANE
BOARD MEMBER2.00Yes (X)$0$0$0
BOB LUSKIN
BOARD MEMBER2.00Yes (X)$0$0$0
JANE NETHERTON
BOARD MEMBER2.00Yes (X)$0$0$0
STEVE SHAW
BOARD MEMBER2.00Yes (X)$0$0$0
JEAN SMITH
BOARD MEMBER2.00Yes (X)$0$0$0
BOB STEUBER
BOARD MEMBER2.00Yes (X)$0$0$0
SILVIA L TOTAH
EXECUTIVE DIRECTOR2.00Yes (X)$5,303$0$0
COLLEEN BRAGALONE
EXEC. DIRECTOR (UNTIL 10/31/13)2.00Yes (X)$9,763$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$15,066TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
All Other Contributions$24,251AllOtherContributionsAmt
Total Contributions$24,251TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$166,136TotalRevenueColumnAmt
Exclusion$166,136ExclusionAmt

Gross Rents GrossRentsGrp

FieldValueIRS element (for citing)
Real$142,920RealAmt

Less Rental Expenses LessRentalExpensesGrp

FieldValueIRS element (for citing)
Real$40,613RealAmt

Rental Income Or Loss RentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Real$102,307RealAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Total Revenue Column$102,307TotalRevenueColumnAmt
Exclusion$102,307ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Securities$1,938,344SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Securities$1,714,680SecuritiesAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Securities$223,664SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column$223,664TotalRevenueColumnAmt
Exclusion$223,664ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$516,358TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$492,107ExclusionAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

FieldValueIRS element (for citing)
Total$284,500TotalAmt
Program Services$284,500ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$17,976TotalAmt
Management And General$17,976ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$13,685TotalAmt
Management And General$13,685ManagementAndGeneralAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

FieldValueIRS element (for citing)
Total$44,386TotalAmt
Management And General$44,386ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$1,219TotalAmt
Management And General$1,219ManagementAndGeneralAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$1,290TotalAmt
Management And General$1,290ManagementAndGeneralAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$697TotalAmt
Management And General$697ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (3 entries)

DescDescTotalTotalAmtManagement And GeneralManagementAndGeneralAmt
FOREIGN TAXES$585$585
BANK CHARGES$154$154
LICENSE AND FILING FEES$75$75

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$364,567TotalAmt
Program Services$284,500ProgramServicesAmt
Management And General$80,067ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$49,410BOYAmt
EOY$52,786EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$649,035BOYAmt
EOY$627,721EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$11,880BOYAmt
EOY$24,120EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$1,110,813LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$585,005LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$552,181BOYAmt
EOY$525,808EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
BOY$6,584,548BOYAmt
EOY$7,440,384EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$7,847,054BOYAmt
EOY$8,670,819EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$25,300BOYAmt
EOY$54,700EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$13,680BOYAmt
EOY$13,680EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$38,980BOYAmt
EOY$68,380EOYAmt
FieldValueIRS element (for citing)
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

FieldValueIRS element (for citing)
BOY$7,709,078BOYAmt
EOY$8,492,624EOYAmt

Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp

FieldValueIRS element (for citing)
BOY$98,996BOYAmt
EOY$109,815EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$7,808,074BOYAmt
EOY$8,602,439EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$7,847,054BOYAmt
EOY$8,670,819EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$151,791ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst$642,574NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Supporting Organization509a3Yes (X)SupportingOrganization509a3Ind
Supporting Org Type3 Func IntYes (X)SupportingOrgType3FuncIntInd
Contribution Controller0ContributionControllerInd
Contribution Family0ContributionFamilyInd
Contribution35 Controlled0Contribution35ControlledInd

Supported Org Information SupportedOrgInformationGrp (2 entries)

EINEINOrganization TypeOrganizationTypeDescGoverning Document ListedGoverningDocumentListedIndSupported Org NotifiedSupportedOrgNotifiedIndUS OrganizedUSOrganizedIndSupportSupportAmt
CSULB
9561066946Yes (1)Yes (1)Yes (1)$191,250
LONG BEACH CITY COLLEGE
9532974596Yes (1)Yes (1)Yes (1)$82,400
FieldValueIRS element (for citing)
Supported Organizations Total2SupportedOrganizationsTotalCnt
Support Sum$273,650SupportSumAmt

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule D IRS990ScheduleD

CY Endwmt Fund CYEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$98,996BeginningYearBalanceAmt
Investment Earnings Or Losses$14,319InvestmentEarningsOrLossesAmt
Grants Or Scholarships$3,500GrantsOrScholarshipsAmt
End Year Balance$109,815EndYearBalanceAmt

CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp

FieldValueIRS element (for citing)
Contributions$100,000ContributionsAmt
Investment Earnings Or Losses-$940InvestmentEarningsOrLossesAmt
Administrative Expenses$64AdministrativeExpensesAmt
End Year Balance$98,996EndYearBalanceAmt
FieldValueIRS element (for citing)
Term Endowment Balance EOY1.00000TermEndowmentBalanceEOYPct
Endowments Held Unrelated Org0EndowmentsHeldUnrelatedOrgInd
Endowments Held Related Org0EndowmentsHeldRelatedOrgInd

Land LandGrp

FieldValueIRS element (for citing)
Investment Cost Or Other Basis$251,550InvestmentCostOrOtherBasisAmt
Book Value$251,550BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Investment Cost Or Other Basis$856,767InvestmentCostOrOtherBasisAmt
Depreciation$583,325DepreciationAmt
Book Value$273,442BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$2,496OtherCostOrOtherBasisAmt
Depreciation$1,680DepreciationAmt
Book Value$816BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$525,808TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

FieldValueIRS element (for citing)
DescRENT DEPOSITSDesc
Amt$13,680Amt
FieldValueIRS element (for citing)
Total Liability$13,680TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$1,114,546TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst$642,574NetUnrealizedGainsInvstAmt
Revenue Not Reported$642,574RevenueNotReportedAmt
Revenue Subtotal$471,972RevenueSubtotalAmt
Other Revenues Not Included$44,386OtherRevenuesNotIncludedAmt
Revenue Not Reported Fincl Stmt$44,386RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$516,358TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$320,181TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$320,181ExpensesSubtotalAmt
Other Expenses Not Included$44,386OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt$44,386ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$364,567TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
PART V, LINE 4:THE FOUNDATION RECEIVED TEMPORARILY RESTRICTED CONTRIBUTIONS DURING THE YEAR ENDED JUNE 30, 2013 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 AND CALIFORNIA STATE UNIVERSITY LONG BEACH WHO HAVE GRADUATED FROM POLY OR WILSON. THESE STUDENTS ARE TO BE STUDENTS WHO HAVE OVERCOME CHALLENGES AND WHO ARE A SOURCE OF INSPIRATION THROUGH HIS OR HER 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.
PART X, LINE 2: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.
PART XI, LINE 4B - OTHER ADJUSTMENTS:INVESTMENT EXPENSES 44,386.
PART XII, LINE 4B - OTHER ADJUSTMENTS:INVESTMENT EXPENSES 44,386.

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (1)GrantRecordsMaintainedInd

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (6 entries)

Grant TypeGrantTypeTxtRecipientRecipientCntCash GrantCashGrantAmtValuation Method UsedValuationMethodUsedDescNon Cash AssistanceNonCashAssistanceDesc
CALIFORNIA STATE UNIVERSITY, LONG BEACH (CSULB) SCHOLARSHIPS119$191,250CASHSCHOLARSHIPS FOR MILLENIUM, TRADITIONAL, AND PRESIDENTIAL SCHOLARS
SLAUGHTER SCHOLARSHIPS1$2,500CASHSCHOLARSHIPS FOR NURSING AND OTHER HEALTH CARE STUDENTS.
BIXBY SCHOLARSHIPS1$3,000CASHSCHOLARSHIP TO A STUDENT WHO EXEMPLIFIES THE LEADERSHIP AND COMMUNITY SERVICE OF MARK BIXBY.
NEWELL - CALIFORNIA STATE UNIVERSITY, LONG BEACH1$1,500CASHSCHOLARSHIPS
LONG BEACH CITY COLLEGE (LBCC) SCHOLARSHIPS88$82,400CASHTRADITIONAL, TRADE, AND HONORS SCHOLARSHIPS
NEWELL - LONG BEACH COMMUNITY COLLEGE2$2,000CASHSCHOLARSHIP

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART I, LINE 2:FormAndLineReferenceDesc
ExplanationTHE 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

FieldValueIRS element (for citing)
Business Name Line1DOUGHERTY COMPANYBusinessNameLine1
FieldValueIRS element (for citing)
Relationship DescriptionCRAIG DOUGHERTY IS THE OWNER OF DOUGHTERY COMPANY, INC.RelationshipDescriptionTxt
Transaction$142,920TransactionAmt
TransactionON 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'S PORTION OF THE EXPENSES OF THE PROPERTY ARE PAID BY THE CO-OWNER OF THE PROPERTY AND WILL BE OFFSET AGAINST THE FOUNDATION'S FUTURE INCOME ON THE PROPERTY. RENTAL INCOME IN EXCESS OF PROPERTY EXPENSES IS THEN FORWARDED TO THE FOUNDATION.TransactionDesc
Sharing Of Revenues0SharingOfRevenuesInd

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION B, LINE 11THE 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 12CANNUALLY, 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, LINE 13: THE ORGANIZATION DOES NOT HAVE ANY EMPLOYEES AND THEREFORE DOES NOT HAVE A WHISTLEBLOWER POLICY.
FORM 990, PART VI, SECTION B, LINE 15ATHE CHAIR OF THE BOARD DETERMINES THE SALARY OF THE EXECUTIVE DIRECTOR IN CONSULTATION WITH THE EXECUTIVE COMMITTEE (CHAIR, VICE CHAIR, SECRETARY, TREASURER, PAST CHAIR). 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 19THE 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 1119 QUEENS HIGHWAY, SUITE 103 LONG BEACH, CA 90802

Comments

Anonymous: no account or email. Up to 2,000 characters, at most one link. Comments are checked automatically; some wait for review.