Rotary Foundations
Lloyd Gray spoke to us about Rotary Foundation and ways that we can contribute to their causes and how our club can benefit.
He told us how he contributes and has designated a life insurance policy that was taken out when he was 17 is in bequest to the Foundation. We can use a codicil to a will to designate what we want to give to the Foundation.
As of the end of 2012, the Foundation has $754.8 million in assets. Usually, donations to the Annual Fund are kept for three years. They are invested in interest-earning entities and that interest is utilized to cover program expenses and operations. A Reserve Fund has been set up to cover any shortfall, like there was in 2003 and 2008. It is one of the top-rated funds in the world. When Lloyd heard that RI President Carlos Ravizza (1999-00) announced his theme of “Act with Consistency, Credibility, Continuity, he was confused. But these things are what the Foundation is all about.
The yearly goal for this year’s foundation is $120 million, which hasn’t quite been reached. Our District 5080 goal is $400 thousand. Our club would like us to donate between $50-$100 per member.
The Foundation’s areas of focus are: Peace and Conflict Resolution, Disease Prevention and Treatment, Water and Sanitation, Maternal and Child Health, Basic Education and Literacy and Economic and Community Development. The Annual Fund gives $50 to the World Fund, which provides the match for Global Grants, Professional Vocational Training Teams and Ambassadorial Scholars.
Mr. Gray then explained how our club can benefit from the monies donated to Rotary Foundation. When we apply for and use a grant from the Foundation, fifty percent of the total comes back to the Club. For the Community Grants for projects, the money is fronted by the club, but is reimbursed. The Global Grants are matching grants, like our water project. If the club invests $10,000, the club matches it 3-1, so actually $30,000 is given to the project. We are currently getting $3,000 from the Rotary Foundation for our Three-Square Program.
Finally, he asked us how we choose to donate to the Club Foundation or Rotary International Foundation. We can see the instructions to donate from a will on the website and it can now be done electronically. He left us with a final mantra, “Every Member, Every Year.”