9 Facts

Nine Things You Need to Know About Us

 

 

  1. The Petaluma Sunrise Rotary Foundation (PSRF) was created and incorporated in the state of California on April 22, 2010 and has tax-exempt status under section 501 (c) (3) of the IRS code. Fed ID# is 27-2449085. Informally it will be referred to as the Sunrise Foundation.
  2. The primary purpose of the PSRF is to raise and manage funds that will help support the projects of the Rotary Club of Petaluma Sunrise (see mission statement on Home page). The PSRF may also support other nonprofits not related to Rotary.
  3. The PSRF is a separate legal entity from the Rotary Club of Petaluma Sunrise and has its own board of directors. The Rotary Club of Petaluma Sunrise has its own board of directors and is part of Rotary International (RI) with no tax exempt tax status.
  4. Although the PSRF and the Rotary Club of Petaluma Sunrise will work closely together, neither are legally accountable or responsible for the other. It is suggested that both boards met at least annually to maintain communication and cooperation.
  5. The PSRF can and will do its own fundraising while asking for voluntary assistance from Club members and other community members. Unless approved by the  PSRF board the net proceeds of these fundraisers will not be pre-designated. The Rotary Club of Petaluma Sunrise will continue to operate its own fundraisers as needed.
  6. The PSRF will carry its own insurance, file its own tax returns and ensure all necessary permits are secured for its own events. Only the PSRF board can enter into any contracts on its own behalf.
  7. On or near June 1st of every year the PSRF President will notify the incoming Rotary President the amount of money that is available from the PSRF for their Rotary year. After that and prior to July 1st the Incoming Rotary Club President will submit to the PSRF a Club board approved plan on how those funds will be used (project grant request). Around July 1st the PSRF President will send formal letter outlining project funds available. Before June 1st of the following year the outgoing Club President will send a report to PSRF on the status of those funds. Any unused project funds will be returned to PSRF.
  8. Acceptance of restricted funds is at the discretion of the PSRF board and there is a $5000 minimum to start a fund. These funds can only be used for their specific designated purpose. Application for these funds will also be required for any distribution.
  9. The PSRF can and will build assets for future larger projects and will assist the Rotary Club in achieving their strategic plans. The hope would be to involve Rotary District  5130 and RI to maximize the funds for a multi-year project.