Seminole Lake Rotary elected Jim McConnell and re-elected Tim Schuler to our club foundation board for 2017-2019 terms. Friday’s club meeting focused on the club and Rotary International foundations. Incoming president, Gary Marcus (2018-19) led the meeting because current president, George Bessler, was out of town attending the Boy Scout Jamboree in West Virginia. Gary, a past president, did an excellent job conducting the club meeting.
After an invocation by Chuck Oldanie, the pledge, 4-way test recitation, review of club business, 50/50, and happy dollars, Gary welcomed past district governor and long time club Rotarian Tim Schuler to the podium to provide an update on the club foundation and the club’s contributions to the Rotary International foundation (click here for a copy of the slides Tim presented).
Tim reminded us that the club foundation is a separate entity from the club, with a separate board of directors. Donations are made to the foundation by club members, through club sponsored fund raisers, and by other benefactors. The foundation board is responsible for reviewing requests for distribution and is able to approve distributions of $2000 or less. Distributions greater than $2000 require approval by the club members at a club meeting. The board is very careful to ensure that foundation funds are only used for charitable causes.
Tim reviewed the 2016-17 cash flow and current total assets in the foundation. He also discussed budget plans for the 2017-2018 fiscal year.
During the meeting, the club voted to elect two foundation board members for 2017-2019 terms. Jim McConnell was added to the board and Tim Schuler was re-elected to another two-year term.
Gary thanked Tim for his thorough foundation update and closed the meeting by ringing the bell with gusto. It was a great meeting. Come join us for future meetings and programs.