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Annual Meeting July 25 th , 2013

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

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Annual Meeting July 25 th , 2013

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  1. Annual Meeting July 25th, 2013

  2. Annual Meeting July 25th, 2013 Agenda Annual Review Launch of New Website Special Mention Election Passing of Gavel New President Comments Q & A

  3. Mission • Lynnwood Rotary Community Foundation • To provide significant financial support • for local needs through long term fund development and responsible stewardship

  4. 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

  5. Lynnwood Rotary Organizations BOARD OF DIRECTORS President Vice President Secretary /Treasurer 4 Directors BOARD OF DIRECTORS President President Elect Immediate Past President Vice President Treasurer Secretary 5 Directors BOARD OF DIRECTORS President Immediate Past President Vice President Treasurer Secretary 9 Directors

  6. Two Foundations • The Rotary Foundation (RI) • Funding for Rotary International Projects • Lynnwood Rotary Community Foundation • Funding for local projects

  7. Rotary International Global Impact • Projects • Disaster Relief • Fellowship • Polio Plus • Student Exchange • GSE Vickie Kozuck - Chair

  8. Lynnwood Rotary Community Foundation Local Impact • Scholarships • Early Childhood Education • Other Club-designated projects Fund development to support community projects

  9. 2012/2013 House Project Completing our 38th House

  10. House Project Financial History 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) $341,651 ($264,447)

  11. 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

  12. 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)

  13. Martha Lake Community Club Scholarship Program Almost 90 years of community service

  14. Martha Lake Community ClubGift • 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

  15. 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

  16. Total Foundation Assets June 30, 2012 $1,728,680 May 31, 2013 1,800,388 Increase $71,708

  17. LRCF Website www.lrcfRotary.org

  18. 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

  19. 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

  20. Lynnwood RotaryCommunity FoundationPlease join me in thanking your Foundation Board of Directors for their hard work this past year

  21. 2013 Board Election • Total 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

  22. Continuing Directors • John Friends • Jean Hales • Jon Hatch • Jim Morino • MarillaSargent • Tom Sehrer • Nicola Smith

  23. 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

  24. Nominees Two 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)

  25. NomineeOfficers 2013-2014 • Jim Morino - President • Jon Hatch - Vice President • Pauline Gubbels - Secretary • Dan Gualtieri- Treasurer

  26. Passing of the Gavel Tom Sehrer to Jim Morino

  27. Q & A

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