Ann Arbor Rotary Endowment
OVERVIEW
The Ann Arbor Rotary Endowment is a perpetual Charitable fund initiated in 1985 within the Ann Arbor Rotary Endowment structure, qualified as 501( c )( 3 ) organization under the IRS rules, so that contributions are tax deductible for our club members as well as for outside contributors. The endowment fund is managed by a board of trustees. Its primary purpose is to provide annually additional funds for our club’s support of nonprofit community organizations, activities, and projects over and above that made by our annual member assessment for charitable activities.
The Endowment Fund is over $1,000,000 and now provides a significant portion of our annual community allocations and college scholarships for needy, deserving high school graduates. During the 2005-06 year, we plan to increase Endowment Fund allocations and grants to nearly $50,000. Increases in future years will be based on the market value of the fund. In recent years, grants have been made to over 50 local community nonprofit organizations with emphasis on improving the quality of life for young people.
Click here for the list of of contributors. (Rotary members only)
LEGACY CIRCLE
The mission of the Ann Arbor Rotary Endowment is to enhance, improve, and increase its philanthropy in Ann Arbor and other area communities. It is also dedicated to improving the quality of life in our community, with a particular emphasis on young people in need.
To provide lifetime recognition for the generosity of members who make significant gifts or bequest commitments to the Endowment, the Club Board of Directors and Endowment Trustees established the Legacy Circle in the spring of 2003. Every member who notifies the Trustees that his/her Will or Trust includes a gift to the Endowment of at least $25,000 will be recognized and inducted into the Legacy Circle at a Club meeting, and (with permission) identified as a Legacy Circle member in the Club Directory and Annual Report. Those making such a gift or bequest commitment by December 31, 2003, will also be noted as Legacy Circle Founders.
Any donor wishing to remain anonymous may do so. In the future, donors of gifts of $25,000 or more will also be added to the Legacy Circle. These bequests and contributions become a legacy that serves the community for generations to come. The Endowment Trustees suggest unrestricted gifts and bequests so they can be used for the greatest charitable need at the time or for scholarships, at the discretion of the Rotary Board; however, to ensure that a donor’s wishes are addressed, an Endowed Scholarship can be established and named with a gift or bequest of $25,000 or more.
Members who have already made a recent gift or bequest commitment in the required minimum amount of $25,000 have been “grandfathered” into the Legacy Circle.
Click here for the list of of Legacy Circle members. (Rotary members only)
ENDOWMENT SCHOLARSHIP PROGRAM
Our young people are our future. We can make a difference in the lives of young students needing financial help to further their education and thus enhance their learning potential and their contribution to society. Over the last 10 years, we have helped over 100 high school students with scholarships. Awards are granted to graduating seniors from the Ann Arbor area’s public and private schools. Criteria for an award include academic achievement, participation in curricular and extracurricular activities, involvement in school and community service, and, of course financial need. Payment of the scholarship award is made directly to the educational institution of the student’s choice and can be used only for educational purposes. Awards are made from both Endowed Scholarships established by individuals (mostly Rotarians) and from the general Endowment Fund.
STRIVE SCHOLARSHIP PROGRAM
This very special program designed in 1998 is sponsored by the Rotary Club of Ann Arbor and supported through the Endowment. It provides a competitive college scholarship for Stone High School seniors that offers college opportunities to those who have chosen to recommit to their own success in education. These scholarships are made in partnership with Washtenaw Community College.
STRIVE students commit to:
- Attending Stone High School for three full terms prior to graduation.
- Earning excellent grades. Awards are based on students’ GPA improvement by comparing their incoming GPAs to their GPAs in the last three terms of their senior year.
- Averaging at least 90% attendance for all three terms.
- Saying NO to drugs and alcohol.
PLAN A GIFT TO THE ENDOWMENT FROM YOUR ESTATE
The Endowment Fund is permanent because allocations are made from only a portion of the overall annual interest, dividends, and growth, and therefore it will continue to grow and stay in pace with inflation. Each dollar will have a permanent role in supporting the quality of life in Ann Arbor.
The Fund is managed and invested with no overhead or costs by our own knowledgeable Rotarians who volunteer their special expertise. The club’s board of directors approves all allocations. Funds go directly to the community groups with minimal red tape.
ENDOWMENT TREASURER: David R. Gunderson
ANN ARBORY ROTARY ENDOWMENT FUND TRUSTEES
- Bernard Bedell, Chair
- George Cress
- Joseph Fitzsimmons
- Anne Glendon, Secretary
- Paul Glendon
- David Gunderson
- Norman Herbert
ANN ARBOR ROTARY ENDOWMENT SCHOLARSHIPS
Endowed Scholarships
The Cornelius Tuomy Scholarship
The Russell and Minnie Hussey Scholarship
The Millard H. Pryor Scholarship
The Robert A. Meyers Scholarship—STRIVE
The William T. Dobson Scholarship
The Frederick N. McOmber Scholarship
The Karl D. Malcolm, M. D., Scholarship
The James and Betty Lester Scholarship—STRIVE
Scholarships Funded with Balance Due to be Made by Bequest
The John C. Rosemergy Scholarship
The Shear Family Scholarship
The Weston Palmer Scholarship
The George T. Felbeck, Jr., Memorial Scholarship
Scholarships to be Funded By Bequest
The Larry and Mark Ouimet Family Scholarship
The Robert C. Hughes Scholarship