Rotary District 7300 Foundation
While the Foundation shall be allowed to undertake its own fund-raising or receive contributions for a charitable project of its own sponsorship and/or undertaking, the Rotary District 7300 Foundation is a separate entity from "The Rotary Foundation" (TRF) of Rotary International and serves an entirely different purpose. The Rotary D7300 Foundation is intended to be a district adjunct to support the charitable goals and projects of Clubs, members and friends of Rotary District 7300 by providing income tax deductibility for the donors. The Rotary D7300 Foundation is not meant to be in competition with The Rotary Foundation (TRF) of Rotary International; indeed, the Rotary D7300 Foundation supports the goals of The Rotary Foundation (TRF), and in some instances moneys eventually going to The Rotary Foundation (TRF) may be "parked" a while in the D7300 Foundation if funds are gathered for a specific purpose.
There are many worthy charitable endeavors undertaken by a Club, Rotary D7300 entities, or that others undertake, but are supported by members in our District. Often, however, fund-raising is enhanced when tax deductibility can be provided for the gift. A number of Clubs in Rotary D7300 have established their own 501(c)(3) Foundations to provide this benefit; even if, for example, the funds would eventually be given to The Rotary Foundation (TRF), it is often impractical to gather many small donations and give tax deductibility unless there is an intermediate "conduit" Foundation to use. Moreover, there are many charitable reasons for gifts that do not involve The Rotary Foundation (TRF) of Rotary International, but lie in other International Service and areas of Community, Vocational, and even Club Service. Rotary D7300 therefore established, and perpetuates, our own Foundation to be available for use by our Clubs and the District as well as friends of the District who may sponsor a worthwhile project that may be enhanced by using our Foundation both as a conduit and to provide some oversight to help ensure it is truly a charitable project while giving donors the opportunity to make proper tax-deductible gifts.
The Rotary D7300 Foundation normally is paid a reasonable amount to reimburse the Foundation for expenses incurred and to allow the Foundation to remain as a liquid entity. These charges are determined on a case-by-case basis, but typically would not exceed 5% of the contribution.
The Rotary D7300 Foundation
is administered by a Board of Directors comprised of the DG, PDG, DGE, and
Rotary D7300 members; with a chairman, vice-chairman, and members from each of
the four geographic areas of the District appointed by the DG, PDG, and DGE
with the advice and consent of the Board. The Board then elects officers who
may already be, but need not already be, members of the Board.