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Rotary District 5500 Charitable Fund, Inc.

A Tax-Exempt Arizona Non-Profit Corporation

 

The Charitable Foundation is a tax-exempt Arizona non-profit Corporation. It is a separate legal

entity from Rotary International District 5500. As originally incorporated, the legal title is the Rotary District 5500 Foundation, Inc.

A. Purposes.

The Foundation was organized for two specific purposes:

a. To provide a tax-exempt entity for District 5500 Rotary clubs or recognized District

the committee that does not have their own tax-exempt Foundation for the

receipt/deposit and disbursement of funds.

b. Any club that is in “good standing” as defined by the current Bylaws of the District

may apply for an account with the Charitable Foundation.

c. The Foundation may not engage in any form of fundraising.

B. Who Can Use the Fund?

a. Any club in good standing or any recognized District committee may use the fund for

depositing and disbursing tax-exempt funds as permitted by the IRS code.

b. The club/committee must sign a Memorandum of Understanding (MOU) before an

account can be activated. The MOU defines the procedures and the working

relationship between the club/committee and the Foundation.

C. Officers and Directors.

a. The Board of Directors consists of 7 Directors. Each Director must be a Rotarian in

good standing in a District club that is in good standing in the District.

i. One member must be the current Vice Governor of the District.

ii. Three directors are elected on a rotating basis at the annual meeting of the

Council on District Legislation.

iii. Three directors are appointed by the District Governor on a rotating basis –

one appointment per year.

b. The officers of the Foundation consist of a president, vice-president, secretary and

treasurer.

i. Each officer will be a member of the Board of Directors.

ii. The Board of Directors elects the four officers from its membership at the

Annual Meeting of the Foundation.

c. Vacancies. Vacancies in director or officer positions are filled as determined by the

Foundation Board of Directors unless the vacancy is in the directorship held by the

Vice-Governor of the District.

i. In the event the vacancy is in the position on the Board held by the Vice-

Governor of the District, that position will be filled in accordance with

procedures established by the District to replace a Vice-Governor.

D. Bylaws. A copy of the District 5500 (Charitable) Foundation Bylaws is included on this page.