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Nonprofiteer
← ROTARY EDUCATIONAL FOUNDATION OF ATLANTA INC

Form 990 for tax year 2022

Filed by ROTARY EDUCATIONAL FOUNDATION OF ATLANTA INC.

Totals

Total revenue
$19,529
Total expenses
$498,844
Contributions and grants received
$0
Grants paid
$480,000
Program service revenue
$0
Investment income
$19,529
Other revenue
$0
Total assets, end of year
$3,005,348
Total liabilities, end of year
$320,000
Net assets or fund balances, end of year
$2,685,348
Program services expenses (Part IX)
$480,000
Management and general expenses
$18,844
Fundraising expenses
$0
Program service expenses (Part III)
$480,000

Program services were 96.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $82,434 · excluded $82,434

  • 7a · Gross sales of assets other than inventory

    securities $491,806

  • 7b · Less cost or other basis and sales expenses

    securities $554,711

  • 7c · Gain or loss

    securities -$62,905

  • 7d · Net gain or loss

    total -$62,905 · excluded -$62,905

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $480,000 · program services $480,000

  • 11c · Fees: accounting

    total $4,000 · management and general $4,000

  • 11f · Fees: investment management

    total $14,844 · management and general $14,844

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $285,600 · end of year $131,167

  • 11 · Investments: publicly traded securities

    beginning of year $2,643,791 · end of year $2,874,181

  • 25 · Other liabilities

    beginning of year $4,000 · end of year $320,000

  • 27 · Net assets without donor restrictions

    beginning of year $2,925,391 · end of year $2,685,348

Mission and programs · 2022

Mission

TO PROVIDE GRANTS TO PROMOTE LITERACY PROGRAMS FOR KINDERGARTEN THROUGH FOURTH GRADE STUDENTS IN THE ATLANTA AREA.

Activities or mission (Part I)

PROVIDING GRANTS TO PROMOTE LITERACY PROGRAMS FOR ATLANTA AREA KINDERGARTEN TO 4TH GRADE PUPILS.

  • DUE TO THE COVID PANDEMIC, GRANTS TO PROMOTE LITERACY AND ADVANCE READING SKILLS OF ATLANTA-AREA CHILDREN WERE TEMPORARILY SUSPENDED WHILE OUR COUNTRY AND EDUCATIONAL SYSTEM WAS COPING WITH COVID RESTRICTIONS.

    Expenses $480,000 · Grants $480,000

As filed on the 2022 return.

Listed in Part VII

  • COMER YATES

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • BRIAN BLAKE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KEITH EVANS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MARJY STAGMEIER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • BILL TODD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • DAVID EIDSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • VERONICA BIGGINS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • BEVERLY TATUM

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • VALERIE MONTGOMERY RICE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CRAIG JONES

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • RON CANAKARIS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KATY BARKSDALE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KIM ANDERSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • RODNEY BULLARD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ROBERT BOB FRANKLIN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • STUART GULLEY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • GINA SIMPSON

    EXECUTIVE DIRECTOR

    Total calculated
    $186,000
    From this org
    $0
    From related orgs
    $186,000
    Other
    $0
    Hours/week
    5 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $186,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $186,000 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCH J, PART II
GINA SIMPSON, EXECUTIVE DIRECTOR, PERFORMS SERVICES FOR THE FILING ORGANIZATION, WHILE PAYROLL IS PROCESSED AND REPORTED BY ROTARY CLUB OF ATLANTA, EIN 58-0412250.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • ROTARY CHARITABLE FOUNDATION

    501(C)(3) · SUPPORT PROJECTS THAT POSITIVELY IMPACT ATLANTA'S YOUTH · GA

    Directly controlled by ROTARY INTERNATIONAL CLUB OF ATLANTA INC

  • ROTARY CLUB OF ATLANTA

    501(C)(4) · PROMOTE THE ADVANCEMENT OF INTERNATIONAL UNDERSTANDING, GOODWILL, AND PEACE · GA

Provenance

Return type
form_990
Tax year
2022
Filed
24 April 2024
IRS schema version
2022v5.0
Source object
202401169349301705

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