Karlon Cox is not only the club president, but current chair of the Dripping Springs Rotary Club Foundation.  He discussed the reason we formed the foundation was to separate club operations from donations to club projects.  The first fundraiser was the Home And Garden Show in 2017, which made about $8K and was the seed money for the foundation.  The foundation raised $19K this year.

 

The Foundation Board consists of:  Karlon Cox, Sharon Collier, Howard Lott, and Robert Avera.  The board should be elected annually and include rotating terms so there is always consistency and historical knowledge.  The board set the policy this year that no more than 25% of funds raised in any one year can be spent on club projects until the corpus funds are increased enough to be sustainable.

 

The IRS rulings regarding non-profit boards are one of the reasons the club board and the foundation board should not be identical.  If we wanted to engage in Rotary International matching grants, we would use foundation money, not club money.  There was a very healthy discussion of the foundation purpose, and some good suggestions were made to move forward in growing a health foundation and foundation board.