Southtowne Rotary Foundation:

President: Steve Hutchinson
VP: Christie McDonald
Secretary: Susie Andrist
Treasurer: Ted Stevens
Directors: Gary Brown, Sam Miller, Mike Raz, Paul Riess, Kyle Williams
Scholarship Committee: Gary Brown, Co-C, Nancy Hughes, Co-C, Randy Bernstein, Lonny King, Carrie Killen, Nancy Meyer, Walt Meyer, Gerry Reicher

 

2021 Fundraiser Recap

What began online as a virtual fundraiser from July 1-10, culminated in a wonderful live event on the beautiful and spacious grounds of Susie and Harry Andrist’s home. Over 40 people attended the event that featured complimentary wine and finger foods, music, and special guest speaker Angel McNabb-Lyons who was a 2017 Southtowne scholarship recipient and who recently graduated from Oregon State University with a professional degree in graphic design.

The combination of the 50-50 raffle, silent auction and donations totaled over $12,000 that will fund scholarships in the new fiscal year! To everyone who participated, whether in setting up the events or in contributing dollars, a huge THANK YOU!

 

Southtowne Rotary Foundation Fiscal Year 2020-21 Financial Report to the Club

The Eugene Southtowne Rotary Foundation operates on an April 1 – March 31 fiscal year. With FY 2020-21 now closed, the Foundation Board wishes to share a financial report with the membership of the Southtowne Rotary Club.

Highlights of the year include: (1) The Foundation transitioned successfully to an online accounting system – QuickBooks Online. As part of this transition, a new, more simplified chart of accounts was developed and implemented. (2) In response to the Club switching to online fundraising due to the Covid-19 pandemic, the Foundation created systems to account for online donations, many of which were restricted by donors to particular uses. (3) FY 2020-21 revenues and expenditures are summarized in the following table:

REVENUE

Unrestricted Donations $ 6,504 4%
Restricted Donations 43,683 29%
Memorial Donations 5,410 4%
Investment Earnings 7,719 5%
Unrealized Investment Gains 86,004 58%
Total Revenue $149,320 100%

EXPENDITURES

Scholarships $ 5,600 4%
Grants to Rotary Club 41,658 28%
Administration 2,982 2%
Total Expenses $50,240 34%

NET REVENUE

$99,080 66%

The Foundation ended the year with net cash revenues of $13,076. When the growth of investments are included, the Foundation ended the fiscal year with total net revenues of $99,080, including $86,004 of unrealized investment gains (i.e. gains in value that have not been cashed in). While this number is impressive, please recall that the US Stock Market crashed in March 2020 in response to the shutdown of the economy due to Covid-19. Its recovery started in April 2020 and continued throughout the balance of the Foundation’s fiscal year.

The Foundation holds investments in three accounts, two of which are endowment accounts – the Local Community Services Endowment Fund and the Bruce Shaw Scholarship for Homeless Youth Endowment Fund. With endowment funds, the principle cannot be spent. Rather, it is invested to produce returns which can be used to achieve the goals of the fund.

Of the $86,004 in investment returns noted above, nearly $65,000 represented growth in the values of the Foundation’s two endowment funds.

As a result of the Covid-19 pandemic, Southtowne’s 2020 in-person fundraiser was canceled and it is questionable whether one can be held in 2021. Traditionally, one-half of the net proceeds of the Club’s annual fundraiser is dedicated to funding scholarships. Due to the loss of this revenue source, funding for scholarships was reduced significantly in FY 2020-21 and will continue to be reduced in FY 2021-22. Scholarships for disadvantaged students have been a Club project for nearly 30 years. They have helped recipients further their educational goals and, by extension, break free from the cycle of poverty. Returning scholarship funding back to pre-pandemic levels and higher is now more important than ever. The continuing help of Club members with this important support for our community is needed. Thank you for all you do.

Questions regarding the Foundation’s finances can be directed to its Treasurer, Ted Stevens.

 

Bruce Shaw Scholarship

Last Updated: 11/04/21

Shaw was one of a kind. A man with a strong commitment to the the things he believed in and, as we all came to know, that was most often children — it showed in his years of work with kids at the YMCA and his years with Rotary helping some of the most challenged children in our community; those who have been deeply affected by homelessness.

In 2018 (prior to his death), Southtowne Rotary and the Southtowne Rotary Foundation established a scholarship fund in his name. He was able to share with us his vision for this fund and, of course, he hoped that the focus would be to help children who had experienced homelessness reach their goal of attending college. Many Rotarians and friends of Bruce came together to contribute to the fund.

The Bruce Shaw Scholarship Fund has grown to $56,000 through careful investment of the gifts we have recieved and we are now ready to present the first scholarships which will total $6,000. There are several ways you can make your gift.

  • You can send your check (note Bruce Shaw Scholarship on the check) to the Southtowne Rotary Foundation Treasurer, Ted Stevens, at P.O. Box 84, Lorane, OR 97451 or to the club’s P.O. Box.
  • You can also donate through the club’s website ( on the comment line put Bruce Shaw Scholarship).

Thank you in advance for your consideration and support.