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What is the Novato Rotary Endowment?

The Novato Rotary Endowment is a non-profit, tax exempt corporation, established to receive and invest contributions of money or property, and apply the income to charitable, or educational projects and programs that have been approved by the Novato Rotary Club Board of Directors.                                                                                                   
Contributions may be conditioned for specific donor purposes, provided such specified purpose is approved by the Rotary Club Board of Directors.

Why does it exist?

• To establish a project expenditure fund from which Novato Rotary Club contributions can be made directly to projects or programs which the Club is undertaking, or supporting. Individual member contributions to the endowment are totally tax deductible, allow an equitable participation by the entire Club membership, provide prompt qualified project funding without the need for special assessments, and reduce the need for special fund raising events.
   
• To accumulate a minimum $150,000 capital preservation fund, from which expenditures can be made from fund income only. This fund has the potential to become a major long term factor in the ability of Novato Rotary to accomplish significant objectives

How does it work?

All donations (excepting annual dues which are paid directly to Novato Rotary Club), may be made to the endowment.  When appropriate, specific expenditure instructions should be written on the face of the check (e.g. "Colima", "Nova-Ro", "Golf Tournament", "Paul Harris Fellowship", etc.).

Contrubutions intended for the long range capital preservation fund should be so designated. The Board of Directors may also from time to time transfer undirected surplus funds from the project expenditure fund into the capital preservation fund. Means of building the capital preservation fund to a meaningful amount include the following:

• Leave a part of your estate to the Novato Rotary Endowment.  A simple codicil to your existing will can be easily prepared to accomplish this.
   
• Buy a life insurance policy naming the Novato Rotary Endowment as owner and beneficiary.  Premium payments are tax deductible. 
  
• Make a gift of cash or property to the Novato Rotary Endowment, the income therefrom to be paid back to the donor for a period of years, or life (charitable remainder trust).
  
• Make non-Rotarians aware of the goals of Rotary, and the fact that they too can invest in the same goals for the betterment of our community, nation, and world through the Novato Rotary Endowment.

 

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