Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1b · Membership dues

  $88,528,404

• 2a · Program service revenue: INTL CONVENTION

  total $10,635,923 · related or exempt $10,635,923

• 2b · Program service revenue: MAGAZINE

  total $6,261,785 · related or exempt $6,210,280 · unrelated business $51,505

• 2c · Program service revenue: INFOTECH INCOME

  total $258,137 · related or exempt $258,137

• 2d · Program service revenue: OPEN WORLD LEADERSHIP

  total $175,370 · related or exempt $175,370

• 3 · Investment income

  total $4,080,389 · excluded $4,080,389

• 5 · Royalties

  total $956,450 · excluded $956,450

• 6a · Gross rents

  real property $4,323,714

• 6b · Less rental expenses

  real property $2,688,980

• 6c · Rental income or loss

  real property $1,634,734

• 6d · Net rental income or loss

  total $1,634,734 · unrelated business $387,160 · excluded $1,247,574

• 7a · Gross sales of assets other than inventory

  securities $32,075,863

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

  securities $32,876,171

• 7c · Gain or loss

  securities -$800,308

• 7d · Net gain or loss

  total -$800,308 · excluded -$800,308

• 10a · Gross sales of inventory

  $450

• 10b · Cost of goods sold

  $26,179

• 10c · Net income from sales of inventory

  total -$25,729 · related or exempt -$25,729

• 11a · Other revenue: INSURANCE - US CLUBS

  total $2,177,534 · excluded $2,177,534

• 11b · Other revenue: CURRENCY EXCHANGE LOSS

  total -$3,069,672 · excluded -$3,069,672

• 11d · All other revenue

  total $393,086 · related or exempt $393,086

• 11e · Other revenue, total

  -$499,052

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $75,291 · program services $75,291

• 5 · Compensation of officers, directors and key employees

  total $2,374,373 · program services $1,325,740 · management and general $1,048,633

• 7 · Other salaries and wages

  total $35,425,399 · program services $24,416,983 · management and general $11,008,416

• 8 · Pension plan contributions

  total $3,089,216 · program services $2,017,294 · management and general $1,071,922

• 9 · Other employee benefits

  total $5,332,747 · program services $3,374,893 · management and general $1,957,854

• 10 · Payroll taxes

  total $2,980,770 · program services $1,942,693 · management and general $1,038,077

• 11a · Fees: management

  total $779,137 · program services $563,540 · management and general $215,597

• 11b · Fees: legal

  total $330,065 · program services $14,795 · management and general $315,270

• 11c · Fees: accounting

  total $216,957 · program services $40,299 · management and general $176,658

• 11f · Fees: investment management

  total $301,031 · management and general $301,031

• 11g · Fees: other

  total $5,170,060 · program services $3,739,565 · management and general $1,430,495

• 12 · Advertising and promotion

  total $1,377,009 · program services $956,796 · management and general $420,213

• 13 · Office expenses

  total $2,062,919 · program services $1,652,252 · management and general $410,667

• 14 · Information technology

  total $10,519,102 · program services $7,500,545 · management and general $3,018,557

• 16 · Occupancy

  total $3,237,832 · program services $2,362,320 · management and general $875,512

• 17 · Travel

  total $9,930,928 · program services $6,703,861 · management and general $3,227,067

• 19 · Conferences, conventions and meetings

  total $9,679,885 · program services $8,484,599 · management and general $1,195,286

• 22 · Depreciation, depletion and amortization

  total $5,802,202 · program services $4,193,608 · management and general $1,608,594

• 23 · Insurance

  total $2,966,798 · program services $1,593,527 · management and general $1,373,271

• 24a · Other expenses: DISTRICT GOVERNOR

  total $8,887,815 · program services $7,110,252 · management and general $1,777,563

• 24b · Other expenses: MAGAZINE - PRINT & POST

  total $2,668,503 · program services $2,106,425 · management and general $562,078

• 24c · Other expenses: EQUIPMENT RENT & MAINT

  total $1,089,367 · program services $807,950 · management and general $281,417

• 24d · Other expenses: TAXES

  total $106,320 · program services $62,934 · management and general $43,386

• 24e · All other expenses

  total $70,238 · program services $18,961 · management and general $51,277

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $7,397,858 · end of year $11,192,752

• 2 · Savings and temporary cash investments

  beginning of year $19,967,820 · end of year $23,835,982

• 4 · Accounts receivable

  beginning of year $14,040,339 · end of year $7,618,931

• 7 · Other notes and loans receivable

  beginning of year $948,061 · end of year $985,354

• 9 · Prepaid expenses and deferred charges

  beginning of year $12,022,291 · end of year $12,718,398

• 10a · Land, buildings and equipment: cost or other basis

  $192,328,332

• 10b · Land, buildings and equipment: accumulated depreciation

  $138,286,317

• 10c · Land, buildings and equipment, net

  beginning of year $55,015,398 · end of year $54,042,015

• 11 · Investments: publicly traded securities

  beginning of year $66,959,541 · end of year $70,070,283

• 12 · Investments: other securities

  beginning of year $12,357,758 · end of year $10,442,173

• 13 · Investments: program-related

  beginning of year $3,939,619 · end of year $3,440,653

• 15 · Other assets

  beginning of year $7,362,176 · end of year $6,751,756

• 17 · Accounts payable and accrued expenses

  beginning of year $36,046,713 · end of year $35,735,041

• 19 · Deferred revenue

  beginning of year $6,957,155 · end of year $10,754,282

• 27 · Net assets without donor restrictions

  beginning of year $157,006,993 · end of year $154,608,974

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART I, LINE 1A - FIRST CLASS TRAVEL

UNCOMPENSATED VOLUNTEER LEADERS CONDUCT EXTENSIVE INTERNATIONAL TRAVEL ON BEHALF OF THE ORGANIZATION. ROTARY INTERNATIONAL PROVIDES BUSINESS-CLASS AIRFARE SOLELY FOR THE BOARD OF DIRECTORS AND THE GENERAL SECRETARY. BUSINESS-CLASS TRAVEL IS AVAILABLE IN MOST MARKETS, BUT IF IT IS NOT, FIRST-CLASS OR ECONOMY AIRFARES ARE SUBSTITUTED. THE PRESIDENT AND PRESIDENT-ELECT ARE PERMITTED TO USE FIRST-CLASS TRAVEL, ALTHOUGH THEY MAY CHOOSE BUSINESS-CLASS OR ECONOMY.

FORM 990, SCHEDULE J, PART I LINE 1A - HOUSING ALL. OR RES. FOR PERSONAL US

FOR EFFICIENCY, RESIDENCES NEAR RI HEADQUARTERS ARE PROVIDED SOLELY FOR THE ROTARY INTERNATIONAL PRESIDENT AND PRESIDENT-ELECT. PERSONAL USE OF THE RESIDENCES IS REPORTED AS TAXABLE INCOME TO THE RECIPIENTS. IN ADDITION, RI REIMBURSES THE PRESIDENT AND PRESIDENT-ELECT FOR CERTAIN COSTS ASSOCIATED WITH MAINTAINING THEIR PERSONAL RESIDENCES WHILE THEY ARE TRAVELLING ON BEHALF OF THE ASSOCIATION. THESE EXPENSE REIMBURSEMENTS ARE TAXABLE TO THE RECIPIENT.

FORM 990, SCHEDULE J, PART 1, LINE 1A - TRAVEL FOR COMPANIONS

ROTARY INTERNATIONAL PROVIDES FOR SPOUSE TRAVEL FOR SENIOR VOLUNTEERS AND THE GENERAL SECRETARY IF SPOUSE PARTICIPATION ASSISTS THE ORGANIZATION IN ACHIEVING ITS MISSION. THE ROTARIAN AND SPOUSE ARE REQUIRED TO SUBMIT DOCUMENTATION DETAILING THE ACTIVITIES AND SUPPORTING THE BONA FIDE BUSINESS PURPOSE OF THE TRAVEL. MANAGEMENT REVIEWS THE DOCUMENTATION DURING THE EXPENSE REIMBURSEMENT APPROVAL PROCESS.

FORM 990, SCHEDULE J, PART I, LINE 1A - TAX INDEMNIFICATION AND GROSS UP PA

ROTARY INTERNATIONAL DOES NOT COMPENSATE THE PRESIDENT AND PRESIDENT ELECT'S SERVICES OTHER THAN THE REIMBURSEMENT OF CERTAIN PERSONAL EXPENSES RELATED TO THEIR SERVICES (I.E. THE COST TO MAINTAIN THEIR PERSONAL RESIDENCE, HEALTH INSURANCE, ETC.) AS DEFINED IN THE ROTARY CODE OF POLICIES. THE EXPENSE REIMBURSEMENTS ARE TAXABLE TO THE RECIPIENTS. IT IS THE BOARD POLICY TO PAY THE PRESIDENTS FOR THE TAXES ASSOCIATED WITH THIS INCOME.

FORM 990, SCHEDULE J, PART I, LINE 1A - HEALTH OR SOCIAL CLUB DUES

FOR THE PRESIDENT AND PRESIDENT-ELECT, EXPENSES RELATED TO MAINTAINING CLUB MEMBERSHIPS ARE INCLUDED UNDER THE ROTARY CODE OF POLICES FOR PERSONAL EXPENSE REIMBURSEMENT. THESE EXPENSE REIMBURSEMENTS ARE TAXABLE TO THE RECIPIENT.

FORM 990, SCHEDULE J, PART I, LINE 1A - PERSONAL SERVICES

FOR ANY PRESIDENT OF ROTARY INTERNATIONAL, WHO IS NOT A UNITED STATES CITIZEN, EXPENSES RELATED TO INCOME TAX PREPARATION ARE INCLUDED UNDER THE ROTARY CODE OF POLICY. THESE EXPENSES ARE TAXABLE TO THE RECIPIENT.

FORM 990, SCHEDULE J, PART I LINE 1A - HIGHEST COMPENSATED EMPLOYEES

ROTARY INTERNATIONAL HAS A HIGHEST COMPENSATED EMPLOYEE AT ITS OFFICE IN ZURICH, SWITZERLAND, WHICH IS CURRENTLY UNDISCLOSED DUE TO POTENTIAL INFRINGEMENT OF LOCAL DATA PRIVACY LAWS. SALARIES FOR STAFF AT THE INTERNATIONAL OFFICES ARE ESTABLISHED IN THEIR LOCAL CURRENCY AND TRANSLATED TO US DOLLARS FOR REPORTING PURPOSES, RESULTING IN POTENTIALLY LARGE FLUCTUATIONS IN THE US DOLLAR REPORTABLE EQUIVALENT FOR COMPENSATION.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• ROTARY INTERNATIONAL INFOTECH PVT LTD

  RELATED · IT SUPPORT · IN · 99.99% owned · share of income $149,184 · share of assets $3,004,293 · general or managing partner

  Directly controlled by ROTARY INTERNATIONAL

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• PPH NATIONAL INSURANCE CO

  C · CAPTIVE INSURANCE · VT · 100% owned · share of income $383,475 · share of assets $6,090,069 · controlled entity

  Directly controlled by ROTARY INTERNATIONAL