Wallace Rotary Charities Fund in Wallace, North Carolina (NC)
Table of contents:
Wallace Rotary Charities Fund | |
Employer Identification Number (EIN) | 841712193 |
Name of Organization | Wallace Rotary Charities Fund |
In Care of Name | Philip Livermore |
Address | 130 River Woods Dr, Wallace, NC 28466-2388 |
Subsection | Charitable Organization, Educational Organization |
Ruling Date | 07/2007 |
Deductibility | Contributions are deductible |
Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
Organization | Association |
Exempt Organization Status | Unconditional Exemption |
Tax Period | 06/2014 |
Assets | $25,000 to $99,999 |
Income | $10,000 to $24,999 |
Filing Requirement | 990 - Required to file Form 990-N - Income less than $25,000 per year |
Asset Amount | $38,418 |
Amount of Income | $20,398 |
Form 990 Revenue Amount | $12,064 |
National Taxonomy of Exempt Entities (NTEE) | Philanthropy, Voluntarism and Grantmaking Foundations: Community Foundations |
Non-representatives - add comments:
Amount of income in 2014: $20,398 (it was $33,819 in 2013)
Wallace Rotary Charities Fund: | $20,398 |
Other organizations performing similar types of work: | $123,400 |
Assets in 2014: $38,418 (it was $37,922 in 2013)
This organization: | $38,418 |
Other organizations performing similar types of work: | $188,019 |
Expenses in 2014: $11,568
Wallace Rotary Charities Fund: | $11,568 |
Other organizations performing similar types of work: | $82,376 |
Income to expenses ratio in 2014: 1.8
Wallace Rotary Charities Fund: | 1.8 |
Other organizations performing similar types of work: | 5.6 |
Grants share in income in 2014: 6.2%
Wallace Rotary Charities Fund: | 6.2% |
Other organizations performing similar types of work: | 20.2% |
Revenue for 2014
Support schedule
Revenue, Expenses, and Changes in Net Assets or Fund Balances | ||||
2011 | 2012 | 2013 | 2014 | |
---|---|---|---|---|
Total revenue | $14,397 | $18,779 | $14,818 | $12,064 |
Contributions, gifts, grants, and similar amounts received | $5,258 | $8,294 | $3,578 | $750 |
Program service revenue including government fees and contracts | $0 | $0 | $0 | $0 |
Membership dues and assessments | $0 | $0 | $0 | $0 |
Investment income | $0 | $0 | $0 | $0 |
Gain/Loss from sale of assets other than inventory | $0 | $0 | $0 | $0 |
Net income/loss from gaming and fundraising events | $9,139 | $10,485 | $11,240 | $11,314 |
Gross income from gaming | $0 | $0 | $0 | $0 |
Gross income from fundraising events | $24,317 | $26,934 | $30,241 | $19,648 |
Less: direct expenses from gaming and fundraising events | $15,178 | $16,499 | $19,001 | $8,334 |
Gross profit/loss from sales of inventory | $0 | $0 | $0 | $0 |
Other revenue | $0 | $0 | $0 | $0 |
Total expenses | $12,880 | $15,169 | $8,797 | $11,568 |
Total net assets | $28,291 | $31,901 | $37,922 | $38,418 |
Excess/Deficit for the year | $1,517 | $3,610 | $6,021 | $496 |
Net assets or fund balances at beginning of year | $26,774 | $28,291 | $31,901 | $37,922 |
Other changes in net assets or fund balances | $0 | $0 | $0 | $0 |
Net assets or fund balances at end of year | $37,922 | $38,418 |
Balance Sheets | ||||
2011 | 2012 | 2013 | 2014 | |
---|---|---|---|---|
Total assets | $28,291 | $31,901 | $37,922 | $38,418 |
Total liabilities | $0 | $0 | $0 | $0 |
Net assets or fund balances | $28,291 | $31,901 | $37,922 | $38,418 |
Other Information | ||||
2011 | 2012 | 2013 | 2014 | |
---|---|---|---|---|
Did the organization engage in any significant activity not previously reported to the IRS? | No | No | ||
Were any significant changes made to the organizing or governing documents? | No | No | ||
Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No | No | No |
Has the organization filed a Form 990-T for the year? | No | No | ||
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No | ||
Amount of political expenditures, direct or indirect | $0 | $0 | ||
Did the organization file Form 1120-POL for this year? | No | 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 | No | ||
Total amount involved | $0 | $0 | ||
Initiation fees and capital contributions | $0 | $0 | $0 | $0 |
Gross receipts for public use of club facilities | $0 | $0 | $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 | No | ||
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No |
Reason for Public Charity Status (for 2014) | |
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 2010 - 2014) | |
2010 - 2014 Total | |
---|---|
Public support | $145,946 |
Subtotal | $145,946 |
Gifts, grants, contributions, and membership fees received | $20,524 |
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 | $125,422 |
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 | $145,271 |
Public support | $145,271 |
Subtotal | $0 |
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $145,271 |
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 | The Taos Community Foundation Inc | PO BOX 1925, Taos, NM 87571-1925 | NM | 1998-12 | $4,057,729 |
2 | National Christian Charitable Foundation Inc, Movement Foundation Inc | PO BOX 79264, Charlotte, NC 28271-7061 | NC | 2001-08 | $3,650,592 |
3 | United Way Of Wayne Co Inc | PO BOX 73, Goldsboro, NC 27533-0073 | NC | 1965-08 | $1,037,455 |
4 | National Christian Charitable Foundation Inc, Piedmont Christian Foundation Inc | 1 Billy Graham Pkwy, Charlotte, NC 28201-0001 | NC | 2001-08 | $464,197 |
5 | United Cancer Alliance Reaching Everyone | 8223 Tower Point Dr, Charlotte, NC 28227-2000 | NC | 2010-05 | $307,586 |
6 | Community Focus Foundation Inc | P O Box 215, Brevard, NC 28712 | NC | 2001-08 | $194,159 |
7 | Walnut Cove Members Association Inc | 994 Clovertop Ln, Arden, NC 28704-9166 | NC | 2013-03 | $146,647 |
8 | World Mission Go Inc | 8206 Providence Road Suite 1200, Charlotte, NC 28277 | NC | 2012-03 | $117,489 |
9 | The Jack Runnion Foundation, Branch Banking & Trust Co | PO BOX 2907, Wilson, NC 27894-2907 | NC | 2005-03 | $107,106 |
10 | Jacksonville Jaycee Foundation Inc | 114 Old Bridge St, Jacksonville, NC 28540 | NC | 2014-07 | $104,059 |
11 | Focused On A Cure, Focused On A A Cure | 1418 S Main St, Kannapolis, NC 28081 | NC | 2009-09 | $57,677 |
12 | United Way Of Bladen County | Po Box 2636, Elizabethtown, NC 28337 | NC | 2000-08 | $52,287 |
13 | Emilys Kids Foundation Inc | PO BOX 59, Climax, NC 27233-0059 | NC | 2009-09 | $37,809 |
14 | Triad Christian Foundation | 500 Pineview Dr Ste 111, Kernersville, NC 27284-3813 | NC | 2001-08 | $32,140 |
15 | Sapona Charitable Foundation Inc | 239 Sawgrass Lane North, Lexington, NC 27295 | NC | 2003-06 | $30,810 |
16 | Rutherford County Tourism Asset Foundation | 130 W 6th St, Rutherfordton, NC 28139-2432 | NC | 2013-12 | $29,354 |
17 | Wilmington Police Recreation Association | 615 Bess Street - Po Box 1810, Wilmington, NC 28401 | NC | 2007-11 | $25,180 |
18 | Wallace Rotary Charities Fund | 130 River Woods Dr, Wallace, NC 28466-2388 | NC | 2007-07 | $20,398 |
19 | Williams Zone Orchestra Boosters Club | 1307 S Church St, Burlington, NC 27215-4919 | NC | 2014-04 | $15,534 |
20 | Ruritan National Club, Port City Philanthropy Ruritan Club | 109 Woodford Rd Ne, Leland, NC 28451 | NC | 2014-09 | $8,161 |
Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Total | 3,151 |
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