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The purpose of the South Tyler Rotary Foundation is to provide financial resources for scholarships, humanitarian or community service projects or other activities in accordance with the purposes of the South Tyler Rotary Club or Rotary International.
The Board of directors of the Foundation shall be the current President of the South Tyler Rotary Club and the surviving last five Past Presidents still in good standing with the South Tyler Rotary Club.
Per the South Tyler Rotary Foundation by-laws, the maximum funds allowed to be spent shall be up to 50% of the net proceeds from fund raisers held between July 1st and June 30th of the prior year. This formula will be used to determine the amount of funds available to the incoming board of July 1. Special distributions, not greater than $2,500 can be considered as outlined in the South Tyler Rotary Foundation By-Laws.
The Reed Franklin Spaghetti Supper is our annual fundraiser for the South Tyler Rotary Foundation. This event is held in April every year with a fund raising goal of $30,000.
When the annual operating corpus of the Foundation reaches $250,000, the board of directors may choose to change the formula for distribution of funds raised in the prior year. The corpus will continue to be invested and 50% of the earnings shall be retained to continue the growth of the Foundation.