The District 9465 Endowed Gift Agreement will ensure a legacy for D9465 and an ongoing resource for Clubs in the new District 9423.

Article by PDG Pushpa Pushpalingam, District 9465 Foundation Chair 2022-23.

Background History:

District 9465 was created in 2012 as a result of redistricting of the 3 Districts (9450, 9460 and 9470) in Western Australia. The two Districts in Western Australia D9455 and D9465 will be merging into one District 9423 in the Rotary year 2023-24. Due to this merger the two Districts need to disburse accumulated funds to the new District. As a result of the good governance of the Board of 9465 we were able to accumulate a substantial amount of surplus over the last 11 years.

The Board of 9465 deliberated on the recommendation of the District Foundation committee to commit A$100,000 to the Foundation. The Board investigated all options as to optimise the long term benefit of investing the funds to The Rotary Foundation. They concluded the best result would be to create an Endowment Gift in the name of District 9465. The Foundation committee is hoping that before the merger takes effect the fund can be increased to US$100,000.

Rational

The rationale behind this decision was that the gift to the Rotary Foundation Endowment Fund would ensure that the Clubs in the new District 9423 will have the resources they need to design and implement sustainable projects year after year.

The Rotary Foundation strives to increase the value of the Endowment by preserving and investing our contribution and spending only a portion of the earnings. This strategy supports Rotary Foundation programs today while generating funds that will further the work of D9423 Clubs in the future to 'Do Good in the World'.

By contributing the funds as an Endowment, the value of the contribution grows and the investment earnings will be returned to the D9423 District Designated Fund to assist the funding of future D9423 Club The Rotary Foundation grant projects.

Endowed Gift Agreement Established

The Board then requested PDG Hugh Langridge, Assistant Regional Rotary Foundation Coordinator, to expedite the process so that the funds will be invested before the end of this 2022-23 Rotary year.

The end result is the 'DISTRICT 9465 ENDOWED GIFT AGREEMENT' which is appended below;

The decision by the D9465 Board will ensure a legacy for D9465 and an ongoing opportunity for Clubs in District 9423 to access the financial benefits through the D9423 District Designated Fund in the years to come. This Endowed Gift has enabled the entity of District 9465 to remain in perpetuity.

The Rotary Foundation Endowment – Leaving a Legacy – To secure Tomorrow.