History of Central East Portland Rotary Foundation:
The foundation was incorporated as a separate legal entity in November of 1991, and applied for tax-exempt status in November 1992. It received official IRS determination and recognition as a section 501(c)(3) organization on June 3, 1993. This determination means donations to the Central East Portland Rotary Foundation are fully tax-deductible to the extent allowed by law.
The foundation is managed by a separate board of directors selected from members of Central East Portland Rotary Club. Its investments are professionally actively managed by an outside investment management firm.
In December 1995, the late Rotarian Walt Kremmel donated $150,000 to kick-start foundation activities into high gear. Rotarian Kremmel believed strongly in the principals espoused by Rotary and wanted to see local Rotary clubs helping local students with their education.
Since that time, the Central East Portland Rotary Foundation has provided over 160 scholarships to students from David Douglas, Parkrose and Reynolds High Schools totaling more than $308,000, as well as tens of thousands of dollars in grants to Serendipity School, Muscular Dystrophy Association, Boy Scouts, Rotary International Foundation, Salvation Army and many other deserving organizations.
With careful management of its portfolio of investments and supplemented by more than $180,000 in fund raising by Central East Rotary Club, the foundation has increased its net assets to more than $310,000 at June 30, 2009. The foundation intends to maintain its level of support for east Portland high school students and its other charities while managing its portfolio for moderate growth.
Contributions to the Central East Portland Rotary Foundation
will provide local impact for now and into the future.