Apple Valley Rotary Scholarship Foundation in Apple Valley, Minnesota (MN)
Table of contents:
| Apple Valley Rotary Scholarship Foundation | |
| Employer Identification Number (EIN) | 411855981 |
| Name of Organization | Apple Valley Rotary Scholarship Foundation |
| In Care of Name | Richard G Asleson |
| Address | PO BOX 240551, Apple Valley, MN 55124-0551 |
| Activities | Described in section 509(a)(2) of the Code, Scholarships (other) |
| Subsection | Educational Organization |
| Ruling Date | 03/1997 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 06/2013 |
| Assets | $100,000 to $499,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $344,856 |
| Amount of Income | $111,805 |
| Form 990 Revenue Amount | $63,764 |
| National Taxonomy of Exempt Entities (NTEE) | Educational Institutions and Related Activities: Scholarships, Student Financial Aid Services, Awards |
Non-representatives - add comments:
Amount of income in 2013: $111,805 (it was $91,957 in 2012)
| This organization: | $111,805 |
| Other organizations performing similar types of work: | $41,680 |
Assets in 2013: $344,856 (it was $302,028 in 2012)
| This organization: | $344,856 |
| Other organizations performing similar types of work: | $65,579 |
Expenses in 2013: $30,046
| This organization: | $30,046 |
| Other organizations performing similar types of work: | $24,470 |
Income to expenses ratio in 2013: 3.7
| Apple Valley Rotary Scholarship Foundation: | 3.7 |
| Other organizations performing similar types of work: | 0.5 |
Grants share in income in 2013: 24.8%
| This organization: | 24.8% |
| Other organizations performing similar types of work: | 9.0% |
Revenue for 2013
Support schedule
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | ||
| 2012 | 2013 | |
|---|---|---|
| Total revenue | $75,702 | $63,764 |
| Contributions, gifts, grants, and similar amounts received | $5,915 | $15,838 |
| Program service revenue including government fees and contracts | $0 | $0 |
| Membership dues and assessments | $0 | $0 |
| Investment income | $28,175 | $10,519 |
| Gain/Loss from sale of assets other than inventory | $-338 | $2,148 |
| Gross amount from sale of assets other than inventory | $-338 | $27,112 |
| Less: cost or other basis and sales expenses | $0 | $24,964 |
| Net income/loss from gaming and fundraising events | $41,950 | $35,259 |
| Gross income from gaming | $0 | $0 |
| Gross income from fundraising events | $58,205 | $58,336 |
| Less: direct expenses from gaming and fundraising events | $16,255 | $23,077 |
| Gross profit/loss from sales of inventory | $0 | $0 |
| Other revenue | $0 | $0 |
| Total expenses | $34,070 | $30,046 |
| Total net assets | $265,696 | $299,414 |
| Excess/Deficit for the year | $41,632 | $33,718 |
| Net assets or fund balances at beginning of year | $224,064 | $265,696 |
| Other changes in net assets or fund balances | $0 | $0 |
| Net assets or fund balances at end of year | $299,414 | |
| Balance Sheets | ||
| 2012 | 2013 | |
|---|---|---|
| Total assets | $302,028 | $344,856 |
| Total liabilities | $36,332 | $45,442 |
| Net assets or fund balances | $265,696 | $299,414 |
| Other Information | ||
| 2012 | 2013 | |
|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | |
| Were any significant changes made to the organizing or governing documents? | No | |
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No |
| Has the organization filed a Form 990-T for the year? | No | |
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | |
| Amount of political expenditures, direct or indirect | $0 | |
| Did the organization file Form 1120-POL for this year? | No | |
| Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return? | No | |
| Total amount involved | $0 | |
| Initiation fees and capital contributions | $0 | $0 |
| Gross receipts for public use of club facilities | $0 | $0 |
| Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ? | No | |
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | |
| Reason for Public Charity Status (for 2013) | |
| The organization is not a private foundation because it is: | An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975 |
| Number of organizations supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013) | |
| 2009 - 2013 Total | |
|---|---|
| Public support | $200,469 |
| Subtotal | $200,469 |
| Gifts, grants, contributions, and membership fees received | $200,469 |
| Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose | $0 |
| Gross receipts from activities that are not an unrelated trade or business under section 513 | $0 |
| Tax revenues levied for the organization's benefit and either paid to or expended on its behalf | $0 |
| The value of services or facilities furnished by a governmental unit to the organization without charge | $0 |
| Less | $0 |
| Amounts received from disqualified persons | $0 |
| Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support | $0 |
| Total support | $266,126 |
| Public support | $200,469 |
| Subtotal | $65,657 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $65,657 |
| Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975 | $0 |
| Net income from unrelated business activities, whether or not the business is regularly carried on | $0 |
| Other income | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Us-Central Asia Education Foundation | 124 U St Nw, Washington, DC 20001-1606 | DC | 2007-10 | $4,838,252 |
| 2 | Subsea Tieback Scholarship Fund | 5418 Woodbury St, Fulshear, TX 77441-4139 | TX | 2007-10 | $101,112 |
| 3 | Tom Mcmahon Construction Scholarship Fund | 4441 S Abilene Cir, Aurora, CO 80015-1047 | CO | 2006-11 | $18,033 |
| 4 | Wasie Foundation | 230 Manitoba Ave S Ste 110, Wayzata, MN 55391-1805 | MN | 1967-04 | $15,414,639 |
| 5 | Wallin Education Partners | 5200 Willson Rd Ste 209, Minneapolis, MN 55424-1343 | MN | 2007-05 | $4,256,589 |
| 6 | Tee It Up For The Troops Inc | 515 W Travelers Trl, Burnsville, MN 55337-2548 | MN | 2006-02 | $1,696,502 |
| 7 | The Valspar Foundation | PO BOX 1461, Minneapolis, MN 55440-1461 | MN | 1979-12 | $1,607,989 |
| 8 | Stevens Seminary Foundation | 1017 Hennepin Ave N, Glencoe, MN 55336-2218 | MN | 2002-10 | $1,250,753 |
| 9 | Donations For Education | 5401 Gamble Dr Ste 275, Minneapolis, MN 55416-1572 | MN | 2009-07 | $442,783 |
| 10 | Go Corps | 6736 Regent Ave N, Brooklyn Ctr, MN 55429-1660 | MN | 2011-03 | $312,111 |
| 11 | Teachaiti | PO BOX 1173, Detroit Lakes, MN 56502-1173 | MN | 2010-02 | $259,609 |
| 12 | District 196 Foundation Incorporated, Apple Valley High School Scholarship Fund | 3455 153rd Street West, Rosemount, MN 55068 | MN | 2010-10 | $256,552 |
| 13 | Transformation Fund | 3033 Excelsior Blvd Ste 190, Minneapolis, MN 55416-4692 | MN | 2000-07 | $256,047 |
| 14 | Devin Lomax Bolkcom Smith Scholarship Fund | 1365 Idaho Ave W, Falcon Hgts, MN 55108-2113 | MN | 2012-04 | $219,671 |
| 15 | Sfm Foundation | 3500 American Blvd West, Bloomington, MN 55431 | MN | 2008-08 | $208,204 |
| 16 | San Lucas Toliman Scholars | 34 Hilltop Ln, St Paul, MN 55116-2720 | MN | 2006-03 | $174,209 |
| 17 | Upper Midwest A-C Club | 22243 200th St, Hutchinson, MN 55350-4234 | MN | 2015-03 | $154,494 |
| 18 | Tlc Education Foundation | 1411 W River Rd, Minneapolis, MN 55411-3429 | MN | 2000-04 | $145,943 |
| 19 | Minnesota Educational Scholarship Fund Inc | 8642 Ivan Ave S, Cottage Grove, MN 55016 | MN | 2014-06 | $127,164 |
| 20 | Gre Employees Memorial Scholarship Fund Inc | 12300 Elm Creek Blvd N, Maple Grove, MN 55369-4718 | MN | 1996-04 | $102,483 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 23,481 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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