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District 5750 Foundation, Inc.
The District 5750 Foundation, Inc. was formed in 2005 to encourage and enhance the benevolent and charitable activities of Rotary International within the District. It is available for each club to use to hold contributions made for club, community, or district programs and projects both within and outside District 5750. All contributions to the Foundation are tax-deductible. The Foundation was also formed to establish an endowment to insure the future needs of the benevolent and charitable activities of Rotary in the District 5750. As a result, as the Foundation grows, it will be able to offer grants to clubs and Rotarians for Rotary projects. The following rules have been approved by the Foundation Board of Directors:
Rules for Club Use of the
District 5750 Foundation, Inc.
Each club in District 5750 is authorized to use the Foundation for any project approved by the club’s board of directors that meets the following criteria:
- The project will further the club’s community, vocational or international service goals.
The project will not be used to benefit or enrich a Rotarian or a Rotarian’s family. The project is one for which contributions would otherwise be tax deductible. The funds will be withdrawn from the Foundation within eighteen (18) months. All club funds remaining more than eighteen (18) months will be and become part of the unrestricted Foundation endowment fund. Each club can establish an endowment fund that can perpetually exist for one or more stated purposes, which purposes are approved by the Foundation Board of Directors. The Foundation will charge an annual fee of 1% for the management of all club project funds. All Foundation funds contributed or authorized to be contributed to The Rotary Foundation of Rotary International (“TRF”) may be eligible for TRF recognition, if such recognition is permitted by TRF, and shall be credited to the donor where such donor information is provided to the Foundation. Otherwise, such TRF recognition will be credited to the club providing the funds to the Foundation. An annual accounting shall be provided to all clubs in District 5750 of the Foundation activity within ninety (90) days after the end of the fiscal year. A request for accounting information made by any club prior to the annual accounting shall be at the sole cost and expense of the requesting club.
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