The Rotary Foundation - Chungsam Doh

Posted by Richard L. Roberts 
 


 Chungsam, introduced by President Suellen, is a past 5240 District Governor and currently serves as chair of the RI Foundation Permanent Fund. Suellen described Chungsam as an experienced Rotarian who carries a great wealth of information. He said that the RI Board of Directors consist17 members serving a two-year term. The first director from District 5240 to serve on the Board was Sam Green, West Lake Valley. District 5240 has contributed significantly to the RI process. They were the first to use PERLS as a means to teach leadership to future club officers; and, they are the biggest contributors to the RI Foundation. In 1917, the RI President initiated the RI Foundation with a check in the amount of $26.50 contributed by the Kansas City, MO, club. The fund now exceeds $1.7 billion. Every dollar comes from Rotarians and friends who serve Rotary. The $1,000 Paul Harris donation to the Foundation is held in account for three years drawing interest before 100% of the donation is placed in the general fund for projects. Last year $80 million was contributed and three years later, it will all be spent. 

 
Chungsam described the program he heads, Bequest Society, a part of RI Foundation. It is an endowment program consisting of three levels of endowment ranging from $10,000 to over $1,000,000. The endowment may have the form of a will, living trust, charitable remainder unitrust, property, life insurance or an IRA/401K. The endowment may specify that the spending portion of the gift be applied at the trustees discretion, through SHARE, a District designated fund or to the Children's Fund. The fund currently is valued at over $500 million. The goal for the year 2025 is to exceed $1 billion. Currently there are 622 certified members with District 5240 producing 44, the most of any RI district. Fifteen trustees that manage the fund serve 4 year terms. 
RI President Boyd's theme is "Lead The Way" and District Governor Abbot's is "Lead By Example". Chungsam then introduced President Suellen andhusband, Larry Iness, describing them as leaders by example, then presented them with a one-diamond pin and a Bequest Society crystal for their $10,000 endowment. Congratulations and a standing ovation followed.
Chungsam finished his presentation by playing a recording and singing "America The Beautiful" Job well done, Chungsam!