Rotary Foundation of Prospect/Goshen
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| Bob Quaife,
Chairman William Campbell Alan Laughlin Terry Chambers, Ex. Officio |
Paul Forrest,
President Charles Francesconi Hugh McShane |
Daniel Marklein,
Secretary Nathaniel Green Jeff Sims |
Philip Bitely,
Treasurer John Herzfeld Steven Stowers |
President's Report There are endless opportunities for each Rotarian to give back some of his or her good fortune to those less fortunate than we. A big dilemma facing us is how much to give to our local community and how much to support world-wide efforts. Both of these topics are exceedingly important and one must balance the two. The world wide efforts are handled by Rotary International. These efforts are rewarded by the Paul Harris Fellowship medal when one’s contribution reaches $1000. Our local efforts are handled by our own chapter’s Prospect/Goshen Foundation. Contributions to this foundation are tax deductible and support our local scholarship programs, other local charities, as well as internally developed projects such as the arbor at the entryway to the Creasy-Mahan nature park. Our foundation is funded by our own contributions of our own members, as well as club fund-raising events, such as the golf tournament, July 4th sales, etc. Over the seven years of our club’s existence, we have been able to salt away $30,000 which is being used to form a “corpus”, similar to an endowment, the body of which will be used only in the case of an extreme emergency. Interest and dividends from the investment of these funds will be used for ongoing projects through a request for funding process. Each year a percentage of funds raised by the club will be added to this endowment fund until it reaches at least $50,000. Your board is presently considering how to invest these funds. We are seeking advice from all members. If you have a pet project you would like to support, (and you should have), the request for funding form is found on our website and can be submitted to any foundation board member. Please feel free to avail yourself of this form. PF |
| Treasurer's
Report At its first meeting of the fiscal year 2003-2004 your board of directors passed a resolution to mark the amount of $30,000 as a permanent fund. We also adopted an operating budget reflecting 1) our expectations for receipts and 2) a set aside for the growth of the permanent fund beginning at 15% of the permanent fund this year declining by 1% to 10% to be continued thereafter. The budget adopted follows.
To date $4400 is allocated and $7100 is pending. |
Statement of Funds
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