The first matter on the agenda for our Club Assembly was the report from the Chair of the Ad Hoc Membership Committee, Carol Burns. Slides from the presentations of Carol and the other speakers are available at Assembly 9-17-24.
As recognized in our Visioning process, we want to be a bigger club. Specifically the Membership Committee hopes for a 10% growth in 2024-5, retaining current members and recruiting new ones. The committee is looking at why members leave and how we might do a better job in getting new members engaged and active. One suggestion is to have coffee with a new member in lieu of formal orientation. Guests are the path to new members and we need to encourage all members to identify and welcome community members as guests and potential members.
Val Gerhart led the discussion on the other major topic of the Assembly--Club financial literacy. The three entities in question:
- The Club Foundation
- The Club's Operations & Projects Budgets
- The Rotary Foundation
The Club Foundation is a 501(c)(3) corporation that receives tax-deductible contributions and distributes the money through grants to other charitable organizations within our community. The Foundation has two funds: Endowments and Grants. The Endowment Fund is managed by the Grand Traverse Regional Community Foundation, and the Fund's principal of approximately $53,000 cannot be removed. The Foundation annually receives 4% of the Fund's growth. The Club Foundation also has approximately $30,000 in a Grants Fund which is made up of withdrawals from the GTRCF, sponsorships for the Bike Benzie Tour and donations from club members and others.
The Club also has two budgets: Operations and Projects. The Operations budget of $14,200 is funded by dues, 50/50 drawings and Happy Dollars. The money is used to cover such things as the Club website, PETS registration and meeting expenses. Money for the Projects budget of $21,500 is generated by fundraisers including the Lucky 13 Raffle, our Golf Outing and Bike Benzie registrations.
The Rotary Foundation helps Rotary members advance world understanding, goodwill and peace by improving health, providing quality education, improving the environment and alleviating poverty. We ask Club members to donate $100 a year to the foundation to make us eligible for a District Local Match Grant.