In the Fall of each year we raise over $75,000 from Minneapolis Rotary members to support our service mission exclusive of Rotary International.
Minneapolis Rotary Community Service Foundation
In the early 1950’s, Minneapolis Rotarians established the Minneapolis Rotary Community Service Foundation to support their Club’s service mission. Each year, the Minneapolis Rotary Club raises significant dollars for this Foundation from Minneapolis Rotarians and through honorariums and other gifts.
The annual contributions, together with earnings from the Foundation’s endowments, are used to make grants available for:
The 21st Century Fund is the largest of the permanent endowment funds of the Foundation. The gifts and bequests to this fund are invested in perpetuity, and the Foundation’s Board designates a portion of the investment return each year to support the Minneapolis Rotary Club’s service programs.
By 2005, the 21st Century Fund had grown to about $700,000, in assets with another $1,100,000 in known bequests. The other endowments are the 75th Anniversary Fund that supports the Learning Center for Economics, the Franklin Gray Scholarship Fund, and the Baskerville Youth Development Endowment Fund. In total, the current value of the Foundation's assets is approximately $1,500,000, which places it in the top twenty of large club Rotary foundations in the United States.
The Impact
Between the annual campaign that raises over $75,000 each year and the earnings from the endowments, Minneapolis Rotary is able to expend about $120,000 annually in support of its service mission. See Funding Allocations by program. So we asked ourselves, “What if we grew to $5,000,000? What would the impact be on Club service programs?” Based on current returns, it is estimated the Foundation would then earn approximately $225,000. If the Club continued to raise $75,000 in its annual campaign, the amount of money available for Club service programs (after fees and expenses) would make a significantly greater impact.
Growing the 21st Century Fund through the Legacy Society
We established the Legacy Society as a mechanism for Rotarians to contribute to our local endowment fund separately from their annual contributions to the Club's fundraising campaign and the fundraising campaign of Rotary International. Legacy Society members are those contributing $15,000 or more through their estate plan. Our goal is to attain enough commitments by our Club’s 100th Anniversary in 2010 so that the Foundation grows to $5,000,000 over time. If you have remembered the Minneapolis Rotary Community Service Foundation in your planning, we would appreciate it if you would notify the Rotary office by calling them or completing the Letter of Intent form.
Baskerville Philanthropy Award
This award is presented to a Minneapolis Rotarian who has made a significant difference in furthering the objectives of the Minneapolis Rotary Community Service Foundation or the Rotary International Foundation.
It is named after Marty Baskerville who has been a Minneapolis Rotarian since May 2, 1947. Marty was instrumental in the growth of the Foundation by encouraging us to contribute through a Charter Membership. Several of his long time fellow Club members joined in with matching gifts. He then followed with a $400,000 gift to establish the Baskerville Youth Development Endowment Fund. Several members also made matching gifts to this fund including a planned bequest of $500,000 from one member of the Legacy Society.
As a result of this work, Marty was selected as the first recipient of the award in September 2005 and the award has been named after him.
Solid Structure – Sound Management
The Minneapolis Rotary Community Service Foundation is a Minnesota 501 (c) 3 nonprofit corporation making all contributions to it tax deductible. Its Board of Directors consists of the officers of the Minneapolis Rotary Club, representatives of the committees that make grants to our service projects and six at-large members of the Club who are elected for their legal, financial and other expertise beneficial to the Foundation.
Good stewardship is the cornerstone of Foundation activity. An independent money management firm selects the investments based on guidelines established by the Foundation and reviewed periodically. An Investment Committee establishes investment policy and monitors quarterly performance of the investment manager.
You can be confident that your contribution to the Minneapolis Rotary Foundation 21st Century Fund or the other endowments will be nurtured and preserved by caring Rotarians thus providing lasting support to both our local and global communities.
If you would like to make a contribution to the Foundation or would like a copy of our Millennial/40th Anniversary Report, Contact Us by clicking here.
