2012-04-03T00:14:47-05:00 2011-06-30 WINDES & MCCLAUGHRY ACCT CORP PO BOX 87 LONG BEACH CA 908010087 990 2010-07-01 956070198 LONG BEACH ROTARY SCHOLARSHIP FOUNDATION LONG 5624368181 1119 QUEENS HIGHWAY NO 103 LONG BEACH CA 908026390 FRANK NEWELL 5624368181 2012-03-12 1 DONITA M JOSEPH 5624351191 2010 2016-02-24 21:20:13Z COLLEEN BRAGALONE 1119 QUEENS HIGHWAY NO 103 LONG BEACH CA 908026390 2855057 0 X WWW.ROTARYLONGBEACH.ORG X 1963 CA PROVIDES SCHOLARSHIP AWARDS TO COLLEGE STUDENTS 15 15 0 15 0 0 1000 1375430 0 0 174390 289026 142356 137675 317746 1802131 167400 224250 0 0 11160 14275 0 0 0 46819 41592 225379 280117 92367 1522014 5228955 7320084 13680 13680 5215275 7306404 HELP FINANCIALLY AVERAGE AND ABOVE AVERAGE ACHIEVING STUDENTS WHO ARE LEGAL RESIDENTS OF LONG BEACH TO ATTEND LONG BEACH CITY COLLEGE OR THE CALIFORNIA STATE UNIVERSITY LONG BEACH IN ORDER TO PREPARE THEMSELVES IN THEIR CHOSEN FIELDS OF WORK. 0 0 224250 224250 PROVIDES FUNDS FOR SCHOLARSHIPS AND GRANTS-IN-AID TO STUDENTS ENROLLED IN A COURSE OF EDUCATION AT CALIFORNIA STATE UNIVERSITY, LONG BEACH OR LONG BEACH CITY COLLEGE. 224250 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 0 0 CA X KAREN WYRICK 5624368181 1119 QUEENS HIGHWAY NO 103 LONG BEACH CA 908026390 FRANK NEWELL 2.00 X X 0 0 0 CRAIG DOUGHERTY 2.00 X X 0 0 0 JIM WORSHAM 2.00 X X 0 0 0 CAM KILLINGSWORTH 2.00 X X 0 0 0 JERRY LANE 2.00 X 0 0 0 BOB ALBAN 2.00 X 0 0 0 TOM CLARK 2.00 X 0 0 0 CRAIG CROSS 2.00 X 0 0 0 MARK CURTIS 2.00 X 0 0 0 JANE NETHERTON 2.00 X 0 0 0 MARK SCHNEIDER 2.00 X 0 0 0 STEVE SHAW 2.00 X 0 0 0 JEAN BIXBY SMITH 2.00 X 0 0 0 EARL MARKS - 332011 2.00 X 0 0 0 COLLEEN BRAGALONE 2.00 X 13768 0 0 BOB LUSKIN 2.00 X 0 0 0 13768 0 0 0 0 0 0 0 1375430 700 1375430 208928 208928 169508 31833 137675 137675 137675 1101191 1021093 80098 80098 80098 1802131 0 0 426701 224250 224250 14275 14275 13600 13600 24580 24580 983 983 406 406 204 204 1727 1727 LICENSE AND FILING FEES 75 75 ADMINISTRATIVE FEES 17 17 280117 224250 55867 0 73091 85332 622103 357601 27771 1110656 517052 614196 593604 3891794 6283547 5228955 7320084 13680 13680 13680 13680 X 5215275 7306404 5215275 7306404 5228955 7320084 X 1522014 569115 X 0 1 1 X 0 X X 0 0 0 CSULB 956106694 6 1 1 1 194250 LONG BEACH CITY COLLEGE 953297459 6 1 1 1 30000 2 224250 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 251550 251550 856767 516279 340488 2339 773 1566 593604 RENT DEPOSITS 13680 13680 1802131 280117 1522014 569115 569115 2091129 2346666 569115 569115 1777551 24580 24580 1802131 255537 0 255537 24580 24580 280117 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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 XII, LINE 4B - OTHER ADJUSTMENTS: TRUSTEE FEES INCLUDED IN INVESTMENT INCOME 24,580. PART XIII, LINE 4B - OTHER ADJUSTMENTS: TRUSTEE FEES FROM INVESTMENT INCOME 24,580. 1 CALIFORNIA STATE UNIVERSITY LONG BEACH 1250 BELLFLOWER BOULEVARD LONG BEACH CA 90840 956106694 501(C)(3) 194250 PROVIDE FUNDS FOR SCHOLARSHIPS AND GRANTS-IN-AID TO STUDENTS ENROLLED IN A COURSE OF EDUCATION AT CALIFORNIA STATE UNIVERSITY, LONG BEACH. LONG BEACH CITY COLLEGE FOUNDATION 4901 EAST CARSON ST LONG BEACH CA 90808 953297459 501(C)(3) 30000 TO SUPPORT THE COLLEGE'S COLLEGE PROMISE SCHOLARSHIP WHICH COVERS FIRST SEMESTER ENROLLMENT FEES FOR ALL LOCAL HIGH SCHOOL GRADUATES WHO ENROLL AT THE COLLEGE THE FALL IMMEDIATELY AFTER GRADUATION. PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, 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 BOARD MEMBER AND OWNER OF DOUGHERTY COMPANY, INC. 169508 LONG BEACH ROTARY SCHOLARSHIP FOUNDATION RECEIVED AS A DONATION IN 1992 A 50% UNDIVIDED INTEREST IN A PIECE OF INDUSTRIAL PROPERTY IN IRVINE, CALIFORNIA. THE DOUGHERTY COMPANY, OWNED BY A BOARD MEMBER OF LONG BEACH ROTARY SCHOLARSHIP FOUNDATION, OWNS THE OTHER 50%. THE DONATION AGREEMENT PROVIDES FOR THE DOUGHERTY COMPANY TO COLLECT ALL RENTAL INCOME ON THE PROPERTY AND PAY OUT ALL RENTAL EXPENSES, THEN FORWARD THE FOUNDATION THEIR SHARE OF THE NET RENTAL INCOME. 0 FORM 990, PART VI, SECTION B, LINE 11 THE FOUNDATION RECEIVES A COPY OF THE ORGANIZATION'S FORM 990, AS PREPARED BY WINDES & MCCLAUGHRY, 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 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. 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 15A 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 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 1119 QUEENS HIGHWAY, SUITE 103 LONG BEACH, CA 90802 CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 569,115. BOARD OF DIRECTORS FORM 990, PART VII THE EXECUTIVE DIRECTOR, COLLEEN BRAGALONE RECEIVES COMPENSATION BUT IS NOT AN EMPLOYEE. SHE WORKS FOR THE ORGANIZATION WHEN SHE IS NEEDED AND GETS PAID HOURLY BASED ON HOURS SHE SETS FOR HERSELF.