Vol. 13, No. 24, December 11, 2000

 Update On The Rotary & BBRC Foundations

Rotary Foundation Update

    Dick Clarke
    Dick Clarke

    Dick Clarke, Past District Governor and Past President of the BBRC, rose to give a report on the status of the Rotary Foundation. Since his year as President in 1987-88, Dick has become an expert on the Foundation and has chaired the BBRC’s efforts in this regard.

    With Dale Hemphill in charge of the Overhead Transparency Department (OTD), Dick explained the various entry levels available to Rotarians to enroll their resources in the Foundation. “Monies collected annually by the Rotary Foundation are held and invested for three years before being released for allocation. This procedure insures that all administrative costs are covered by the interest accrued, and that Rotary has attained a $1.04 net placement for each dollar raised by this method.

    In addition to the Paul Harris Fellow program, which has been the mainstay of Rotary’s benevolence since 1947, RI now boasts their Permanent Fund, or Endowment. Rotarians can include Rotary in their wills, with the proceeds going to the Endowment.

    “Sixty percent of the funds collected each year is returned to Rotary districts worldwide,” Dick said. “The remaining 40% is placed in the World Fund, which is used to match other Rotary Clubs in worthwhile projects throughout the world. Rotary Clubs can raise $1 and have it match with another $3 under this program.”

    The Bellevue Breakfast Rotary Club has contributed $205,000 over its 15-year history, an average of $13,000 per year. Today, the Club has 59 Paul Harris Fellows, 39 Sustaining Members, and 7 Benefactors. For more information, call Dick Clarke by phone [206-524-2517] or email.

BBRC Foundation Update

    Bill Sperling
    Bill Sperling

    Last week, BBRC Foundation Director Rick Klobucher made his semi-annual report to the Club. Friday, he invited Bill Sperling, Executive Director of the Seattle Foundation, to add to that report. The BBRC Foundation’s assets are entrusted to the Seattle organization for on-going management requirements.

    Sperling explained the Seattle Foundation was established in 1946 and today manages over 1,100 funds of individuals and families, as well as 50 endowments. Service clubs, such as Rotary and Kiwanis, also avail themselves of the management service provided by the Foundation.

    “We have been able to place over $125 million back into the community through our financial management services,” said Sperling. “We are your conduit for philanthropy in the community.” The current balance of the assets of the BBRC Foundation, as of October 31, is $62,183.