Foundation Board Committees

Lakewood/Rocky River Rotary Foundation

 

Audit Committee

  • To review all records and statements reflecting activity of the Foundation;
  • To determine the suitability of existing procedures in order to minimize the Board's exposure to potential errors in judgment, fraud, or mismanagement;
  • To sign off on the review letter for the Board's annual report to the Club;
  • To suggest new procedures which would simplify and/or improve management and administrative functions of the Foundation;
  • To report to the Board any findings relating to the above responsibilities.

Investment Committee

  • To decide on the investment of Foundation funds, in accordance with the current Board-approved Investment Guidelines;
  • To decide on the allocation of investments in cash, money market funds, mutual funds, bonds, and stocks, in accordance with the current Board-approved Investment Guidelines.

Marketing Committee

  • To develop and implement methods of promoting donations to the Foundation;
  • To encourage members to increase participation in the Carl Dryer Award Program;
  • To investigate methods of encouraging memorials, bequests, endowments, etc.

Nominating Committee

  • To contact and secure six candidates for the Foundation Board of Trustees from among current Club membership (Note: Potential candidates should be contributors to the Foundation and have an interest in its welfare, should be prepared to serve a five-year term (July 1-June 30), and should demonstrate in their professional lives that they would contribute to the management of the Foundation and its assets);
  • To arrange for the preparation and printing of an information sheet listing the candidates and their club, professional and personal backgrounds, to be available to the Club membership at least three weeks prior to the election, which is held at a regular Club meeting in early June of each year;
  • To arrange for the candidates to be introduced at the two meetings prior to the election;
  • To plan and supervise the election and report to the Club and Foundation Board on the three candidates selected by the vote of the Club membership.

Scholarship Committee

  • To determine the number, amounts and types of scholarships to be awarded;
  • To contact the public and private high schools in Lakewood and Rocky River (Lakewood, Rocky River, St. Edward, Magnificat, Lutheran-West) to provide application information and forms;
  • To solicit applicants who attend those schools or live in Lakewood or Rocky River, interview finalists, and decide on the recipients of the scholarships (the Board's approval of recipients is not needed);
  • To arrange for the scholarship recipients to attend and be introduced at a regular meeting of the Club.

Support Committee

  • To review the funding requests from the Community Service Committee and Youth Service Committee of the Club Board as well as special requests from the Club Board's Directors;
  • To assure that the agencies to receive funding comply as 501(c)3 or comparable organizations;
  • To assure that funding benefits groups of people and not an individual;
  • To report to the Club's Board of Directors by December 31 of each year on the status of funding requests.