annual meeting july 25 th , 2013
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Annual Meeting July 25 th , 2013. Annual Meeting July 25 th , 2013. Agenda Annual Review Launch of New Website Special Mention Election Passing of Gavel New President Comments Q & A. Mission. Lynnwood Rotary Community Foundation To provide significant financial support - PowerPoint PPT PresentationTRANSCRIPT
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Annual MeetingJuly 25th, 2013
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AgendaAnnual Review
Launch of New WebsiteSpecial Mention
ElectionPassing of Gavel
New President CommentsQ & A
Annual MeetingJuly 25th, 2013
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Mission
Lynnwood Rotary Community Foundation
To provide significant financial support for local needs through long term fund
development and responsible stewardship
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Strategic Priorities• Create significant impact in the community
• Accumulate a $500,000 endowment fund
• Position LRCF as worthy recipient of Rotary Senior Housing Service Foundation funds
• Develop a successful fund raising program
• Ensure Rotary is recognized for its impact
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ROTARY CLUB OF LYNNWOOD501(C)(4)
Club Service
Community Service
Public Image
RI Foundation
International Service
New Generations
LYNNWOOD ROTARY COMMUNITY FOUNDATION
501(C)(3)
Investment
Fund Development
Fund Distribution
Audit
Public Relations
ROTARY CLUB OF LYNNWOOD SERVICE FOUNDATION
501(C)(3)
Rotary Retirement Center
Lynnwood Rotary Organizations
BOARD OF DIRECTORSPresident
President ElectImmediate Past President
Vice PresidentTreasurerSecretary
5 Directors
BOARD OF DIRECTORSPresident
Immediate Past PresidentVice President
TreasurerSecretary
9 Directors
BOARD OF DIRECTORSPresident
Vice PresidentSecretary /Treasurer
4 Directors
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Two Foundations
• The Rotary Foundation (RI)– Funding for Rotary International Projects
• Lynnwood Rotary Community Foundation– Funding for local projects
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Rotary InternationalGlobal Impact
• Polio Plus• Student Exchange• GSE
• Projects• Disaster Relief• Fellowship
Vickie Kozuck - Chair
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Lynnwood Rotary Community Foundation
Local Impact
• Scholarships• Early Childhood
Education• Other Club-
designated projects
Fund developmentto support community projects
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2012/2013 House Project
Completing our 38th House
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Let the good times roll– 2003 $28,414– 2004 52,659– 2005 114,029– 2006 146,549
Here comes the Bear Market– 2007 (26,386)– 2008 (159,885)– 2009 (27,904)– 2010 (26,140) – 2011 ( after 15K grant) 11,132– 2012 (11,211)
House Project Financial History
($264,447)
$341,651
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Equity in the House Account Equity Balance 6/30/12 $370,870
Loss on Sale of #37 (11,211)
Estimated Expenses (4,800)
Equity Balance 5/31/13 $354,859
High Equity Balance 6/30/07 $621,800
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Investment Committee
• Endowment fund increased from $314k to $360k – an increase of 15%.
• Martha Lake account increased from $47k to $73k.*
*(timing issue – some checks have not been issued)
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Martha Lake Community ClubScholarship Program
Almost 90 years of community service
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Martha Lake Community Club Gift
• Gift of a contract - $950,000 restricted to scholarships and restricted to a MLCC account
• Distribution of funds 2012-13 year:
– Edmonds School District Early Learning Initiative, $20,000
– LRC scholarship committee, $27,000
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Other Accomplishments
• Successful quick sale of house #37 to raise cash with only a small loss.
• Successful completion of house #38• Continued relationship with Rotary Senior
Housing Foundation
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Total Foundation Assets
June 30, 2012 $1,728,680
May 31, 2013 1,800,388
Increase $71,708
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Special Mention• Dave Thompson, Bruce Thompson, Bob
Setting‒ Assuming the responsibility for managing the House
Project #38
• Jon Hatch, Marilla Sargent‒ Transitioning the scholarship selection and award process
to the Club Committee
• Rob Yackel & Ken Peirce‒ For taking on additional duties as Treasurer and Secretary
• Jean Hales & Andrew Steagall‒ Developing the new foundation website
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Committee Members• Jim Morino, Fund Development Chair• Jon Hatch, Legal Advisor, Scholarships• Dave Thompson, House Committee Chair• John Friends, Investment Committee Chair• Dan Gualtieri, Audit/Oversight Chair• Travis Snider, Fund Distribution Chair• Jean Hales, Public Relations Chair• Marilla Sargent, Scholarships
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Lynnwood RotaryCommunity Foundation
Please join me in thanking your Foundation Board of Directors for their hard work this past year
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2013 Board ElectionTotal of 14 Board Positions• Twelve staggered 3-year terms
– May serve a maximum of three 3-year terms
• Two 1-year terms– Treasurer– Past Club Board President
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Continuing Directors• John Friends • Jean Hales• Jon Hatch• Jim Morino• Marilla Sargent• Tom Sehrer• Nicola Smith
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Nominees• Jeffrey Goodwin, 1-year term as Past Club
President• Dan Gualtieri, 1-year term as Treasurer• Pauline Gubbels, first 3-year term• John Niemi, first 3-year term• Travis Snider, third & final 3-year term
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NomineesTwo positions open to nominations from the floor :
(3-year positions with the first term of both shortened to two years to accommodate the staggered terms requirement.)
• Position 1 –
• Position 2 – (this position is open because Dan Gualtieri is relinquishing his 3-year position in order to serve as LRCF Treasurer (renewable 1-year position)
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Nominee Officers 2013-2014• Jim Morino - President• Jon Hatch - Vice President• Pauline Gubbels - Secretary• Dan Gualtieri- Treasurer
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Passing of the GavelTom Sehrer to Jim Morino
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Q & A