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Posted by Marshall Cook
on Mar 08, 2014
With 25 in attendance including 2 guests, Marshall Cook opened the Orofino Rotary Club’s meeting of Mar. 7 with a quote from the Broadway Musical, Hello Dolly. In the show, Dolly Levi quotes her late husband a saying, “Money is like manure, it’s no good unless you spread it around.” This same philosophy was evident in today’s talk by Moe Pare, who reported on the Orofino Rotary Foundation’s status from 2013, and its donations of $4,500 in scholarships. Read more about the Orofino Rotary Foundation later in this article.
Following the Pledge of allegiance, the listing of 10 Rotarians who requested excusals from the meeting for various appointments, travels and other pressing business, Secretary Charlie Nation read the minutes of the March 5th Board Meeting.
Following that, a number of club announcements were presented by Club President Mike Hedrick and various other Rotarians. The announcements reminded members of the help the club gives to disperse and collect election equipment, the upcoming Citizen of the Year nomination solicitations, the final collection of $650 by the Interact club for Philippine disaster relief, the cancellation of the Board meeting scheduled previously for Mar. 19, the upcoming District Assembly March 22, the completion of reports to District concerning money spent on the Deyo Reservoir Project, and the announced upcoming Rotary District Group Friendship Tour to visit clubs in New Jersey. Lastly, Mike Hedrick announced the Community After-Hours Open House March 20, 2013, 5:30 - 7 p.m. at the old Coon Building, 2200 Michigan Ave. That open house will feature presentations by the University of Idaho, Clearwater County Extension, Adult and Juvenile Probation, Lewis-Clark State College Outreach, Emergency Management and Veterans Affairs. This open house is in collaboration with Orofino Chamber of Commerce and is open to everyone.
Mike Hedrick, acting for the assigned Sgt-at-Arms, collected a dollar each from those who had brags or happy news to report, and from those who forgot to carry with them the Rotary challenge coin he had given out earlier.
Marshall Cook, Program Chairperson, then introduced the program speaker, Moe Pare.
Moe was the first Rotarian to join the club after it was chartered on April 16, 1979. Currently, he is the Chairperson of The Orofino Rotary Foundation (ORF).
The Objectives of the ORF are “to solicit, establish, manage and maintain funds and other items or properties of value, for the purpose of providing endowment revenue, to fund and award scholarships for college or vocational training, to assist children, the elderly, the poor, the homeless, the handicapped, victims of abuse or neglect, and for other projects and endeavors intended to render charitable or altruistic service, and to build a better community in accordance with the goals of Rotary International.”
As presented by Moe Pare in a PowerPoint display, the 501(c)3 Foundation’s total 2013 income was received as follows: Contributions - $2,638; Fundraising - $4,905; Investment Earnings - $5,321; and Unrealized Gains - $5,321. The 2013 gross income was $18,244 with a net income due to expenses totaling $15,444.
The ORF’s 2013 assets totaled $132,307 after the awarding of $4,500 in scholarships. Fortunately, the ORF has been able to increase the scholarship awards each year since 2009 without having to touch the principle of the accumulating scholarship funds.
The ORF plans to award scholarships totaling $7,200 in 2014. Thus, the total awards will exceed the $6,524 cost of the University of Idaho’s current tuition and fees. This is the first time the ORF has been able to give out scholarships exceeding the tuition and fees of the U. of ID. since the foundation was formed in 1988. This increase has in part been enabled by the rise of the S&P 500 Index from just over 200 in 1988 to its current level of over 1800.
The Board of the ORF and the members of Orofino Rotary Club are thankful to the people of Clearwater County and School District 171 for their support of Rotary Scholarship Fundraisers! These fundraisers include the Crab Feed and Raffle in January, and the Rotary Log Drive in July.
Thank you, Moe, for outlining for the Club and the Community, the fund status of the Orofino Rotary Foundation!
The members of the Orofino Rotary club welcome visitors! Come and check out the Club and Rotary International, the world’s oldest service club.
Saturday, March 22, Rotary District 5080 is sponsoring a Spring Assembly at the Coeur D'Alene Resort starting at 10 AM. The purpose of the Assembly is to provide special training for all new Club Officers, and to provide an opportunity to meet officers from other District Clubs.
Sign on to the District website today and register to attend. The website is linked from this website's home page.
As of this week, Charlie Nation and Marshall Cook will be attending. Others are welcome to attend also!
Also, keep watch for more information coming soon for the May District Conference also to be held at the Coeur D'Alene Resort!
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