Annual Meeting
July 25th, 2013
Annual Meeting
July 25th, 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
for local needs through long term fund
development and responsible stewardship
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
Lynnwood Rotary Organizations
ROTARY CLUB OF LYNNWOOD
SERVICE FOUNDATION
501(C)(3)
Rotary Retirement
Center
ROTARY CLUB OF LYNNWOOD
501(C)(4)
LYNNWOOD ROTARY
COMMUNITY FOUNDATION
501(C)(3)
Club Service
Investment
Community Service
Fund Development
Public Image
Fund Distribution
RI Foundation
Audit
International Service
Public Relations
New Generations
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
Two Foundations
• The Rotary Foundation (RI)
– Funding for Rotary International Projects
• Lynnwood Rotary Community Foundation
– Funding for local projects
Rotary International
Global Impact
• Projects
• Disaster Relief
• Fellowship
• Polio Plus
• Student Exchange
• GSE
Vickie Kozuck - Chair
Lynnwood Rotary
Community Foundation
Local Impact
• Scholarships
• Early Childhood
Education
• Other Clubdesignated projects
Fund development
to support
community projects
2012/2013 House Project
Completing our 38th House
House Project Financial History
Let the good times roll
–
–
–
–
2003
2004
2005
2006
$28,414
52,659
114,029
146,549
$341,651
Here comes the Bear Market
–
–
–
–
–
–
2007
2008
2009
2010
2011 ( after 15K grant)
2012
(26,386)
(159,885)
(27,904)
(26,140)
11,132
(11,211)
($264,447)
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
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)
Martha Lake Community Club
Scholarship Program
Almost 90 years of community service
Martha Lake Community Club
Gift
• 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
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
Total Foundation Assets
June 30, 2012
$1,728,680
May 31, 2013
1,800,388
Increase
$71,708
LRCF Website
www.lrcfRotary.org
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
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
Lynnwood Rotary
Community Foundation
Please join me in thanking your
Foundation Board of Directors for their
hard work this past year
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
Continuing Directors
•
•
•
•
•
•
•
John Friends
Jean Hales
Jon Hatch
Jim Morino
Marilla Sargent
Tom Sehrer
Nicola Smith
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
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)
Nominee Officers 2013-2014
•
•
•
•
Jim Morino - President
Jon Hatch - Vice President
Pauline Gubbels - Secretary
Dan Gualtieri- Treasurer
Passing of the Gavel
Tom Sehrer to Jim Morino
Q&A