Paul Deschambeault: Foundation Chair

 

Now we find out why Brian gave us a $2.00 bill at the door.  There are two Elements of our Foundation goals are 100% participation, and $100.00 per person. By returning the $2.00 you are starting our club toward our 100% participation goal. Last year we sent over $8,000.00 with 100% participation to the Foundation. The Biddeford Saco Rotary Club participation per person was $123.00 per member while the District average was $110.00 per member. Paul discussed how we can donate to the Foundation. Our Club has 2 PHS Eligible Donors of $10,000.00, 17 Sustaining Members at $100.00 or more, many at $2,000.00 or more, and 11 near $2,000. Another way to donate to the Foundation is by being a Benefactor by leaving a donation upon your passing. In our Club we have 49 Paul Harris Fellows, and some multiple Paul Harris Fellows. A distinction bestowed upon donors of $1,000.00 or more. The funds get distributed to 40 Clubs. It is held for 3 years, and then ½ of it goes out in district grants. This Year $90,000 is going out in District Grants. In 2014 The Biddeford Saco Club gave the Foundation $8,757.00. Paul requests that we return the $2.00 to begin our goal of 100% participation. If you wish to donate to the Foundation, please bring a check in made out to the Foundation. The Foundation year runs from July to July. If you give to the Foundation there are matching funds available up to $2,500.00. You can look at your account on the Rotary International Site.

President Ken Discussed the Past Presidents fund. We have about $180,000.00 in our investment account, the proceeds of which are used to fund scholarships. Right now, the fund is not producing enough to fully fund the scholarships. Other sources of revenue from fund raisers like the wine tasting and Rotary Houses make up the difference. The discussion was toward additional fund raising to make the Scholarship Fund self-sustaining. This requires a principal of $300,000.00. Scholarships are $1,000.00 for 4 years. George Wandell asked about replacing the fruit sale. Carl Goodwin said we just couldn’t squeeze any more out of it. Ken is investigating a microbrew tasting event. Bill Kany suggested Ken sell a kidney, but room consensus was that Ken’s major organs may be on the “used” side. The discussion to be continued.