Jo Lucey, Padma Chari, John Giovanola, and Stuart Rosenberg discussed Cupertino Rotary’s Permanent Fund and how it contributes to our Club’s annual charitable giving. The Permanent Fund is Cupertino Rotary’s endowment. It was established in 1991 to augment charitable giving funds raised by our traditional yearly fundraisers.
From its humble beginnings, the Permanent Fund has become a major source of funds for Cupertino Rotary’s charitable giving. Over time, as the endowment has grown, the amount the Permanent Fund generates for charitable giving has also grown. In 2012, the Permanent Fund generated $19,000 for our charitable giving. In 2019, it generated $60,000.
From now until March 18, the Rotary Club of Cupertino will be conducting the VISION 2020 Capital Campaign for Cupertino Rotary’s Permanent Fund.
The capital campaign goal is to grow the Permanent Fund by $400,000.
We’re on our way!! Donors have already pledged $330,000. The campaign is asking each individual Rotarian to help raise the remaining $70,000. Giving is personal. The campaign goal is 100% participation at whatever level is appropriate for each club member.
The club doesn’t raise funds for the Permanent Fund every year. In fact, there have been four capital campaigns in the last 28 years. It will be several years before another Permanent Fund capital campaign takes place.
John Gianova; CREF is an endowment fund—the principal remains intact, with only the income being spent each year. It was established in 1991, under Steve Andrews. There have been a number of campaigns to continue to grow the endowment corpus. In 2019, the total charitable giving was $231k. The largest portion of these funds ($60k) came from the permanent fund. This is up form $19k that was generated form the endowment in 2012.
Goal for the current campaign is to grow the principal to the level that it will generate $80k per year (up from $60k)--~ which means an increase of $400k to $1.8 MM.
The club is seeking 100% participation, with pledges to be fulfilled within the next 3 years. 50 donors have already pledged $330K –another $70k is sought.
Major Donor is $5k
An Endowment fellow is $1k
Pledge –asking $500 ($170 per year for the next 3 years)
Consider at least $100/ year for the 3 years, or
$20 per month for a year ($240)
This is being presented now so that people can be made aware of the campaign in the current tax year. The campaign will resume in end of Jan/Feb.
There is a pledge button on the website—please go and make your pledge.
There is a generous donor who is willing to match your donation today (right now) (no limit).
President Padma gave a check on the spot.
Goal for the current campaign is to grow the principal to the level that it will generate $80k per year (up from $60k)--~ which means an increase of $400k to $1.8 MM.
The club is seeking 100% participation, with pledges to be fulfilled within the next 3 years. 50 donors have already pledged $330K –another $70k is sought.
Major Donor is $5k
An Endowment fellow is $1k
Pledge –asking $500 ($170 per year for the next 3 years)
Consider at least $100/ year for the 3 years, or
$20 per month for a year ($240)
This is being presented now so that people can be made aware of the campaign in the current tax year. The campaign will resume in end of Jan/Feb.
There is a pledge button on the website—please go and make your pledge.
There is a generous donor who is willing to match your donation today (right now) (no limit).
President Padma gave a check on the spot.
