Overview
What is Spokane Rotary Foundation?
Spokane Rotary Foundation is a nonprofit organization situated in Spokane, Washington. It manages an endowment, receiving contributions that are then invested to generate returns. A portion of this investment's fair market value is distributed to Rotary Community Services, Inc. on a quarterly basis. Rotary Community Services, Inc. subsequently distributes the funds to charitable committees, including those focusing on youth services, disabilities, civic affairs, vocational services (including scholarships), and international services, thereby supporting the needs of the community in various capacities.
Is Spokane Rotary Foundation legitimate?
Spokane Rotary Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Spokane Rotary Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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What is the mission statement of Spokane Rotary Foundation?
The Spokane Rotary Foundation accepts donations and invests and manages these contributions perpetually. A portion of the investments' fair market value, calculated over a three-year period, is distributed to Rotary Community Services, Inc. on a quarterly basis. Rotary Community Services, Inc. then distributes the funds through its charitable committees, catering to various community needs, such as youth services, disabilities, civic affairs, vocational services, including scholarships, and international services. The organization's mission revolves around managing investments to generate funds, which are then channeled through Rotary Community Services, Inc. to support various community initiatives in these areas.
Who is the CEO of Spokane Rotary Foundation?
Thomas M Patrick is the President of Spokane Rotary Foundation.
What is the revenue of Spokane Rotary Foundation?
Spokane Rotary Foundation's revenue in 2023 was $107,110.
Who are the executives of Spokane Rotary Foundation and what are their salaries?
There 9 volunteers at Spokane Rotary Foundation.
Here are 9 key members and their salaries:
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Where can I find the form 990 for Spokane Rotary Foundation?
Spokane Rotary Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Spokane Rotary Foundation
The Spokane Rotary Foundation is an organization that accepts contributions and invests and manages these funds in perpetuity. A portion of the fair market value, calculated as a three-year average, is distributed to Rotary Community Services, Inc. on a quarterly basis. Rotary Community Services, Inc. (RCS) then allocates these funds through its charitable committees, which include, but are not limited to, youth services, disability support, civic affairs, vocational services, including scholarships, and international services. By doing so, the Spokane Rotary Foundation contributes to the welfare of the handicapped and youth in the Inland Northwest community.
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Impact
October, 2024
The Spokane Rotary Foundation significantly impacts the community by managing and investing contributions to support various charitable initiatives. Through its strategic endowment management, the foundation ensures a sustainable income stream that benefits local programs. The funds are distributed quarterly to Rotary Community Services, Inc., which allocates them to vital areas such as youth services, disabilities support, civic affairs, vocational training—including scholarships—and international projects. This approach not only enhances the quality of life for individuals in the Inland Northwest but also fosters a spirit of giving and community engagement. By addressing diverse needs through targeted funding, the Spokane Rotary Foundation plays a crucial role in uplifting and empowering underrepresented populations in the region.
This information is meant to be a general summary of Spokane Rotary Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $76,941
- Gross Receipts: $560,625
Assets and Liabilities:
- Total Assets: $2,715,213
- Total Liabilities: $0
- Net Assets: $2,715,213
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Organization Details
Founding Year
2003
Phone
(509) 731-4289Principal Officer
Thomas M Patrick
Main Address
1020 W RIVERSIDE AVE P O BOX 9046, SPOKANE, WA, 99209
NTEE Category
Code: T30Z - Philanthropy
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