McLean Rotary Club Foundation Inc.

The McLean Rotary Club Foundation Inc. is a non-profit organization based in McLean, Virginia, with the mission to enhance human well-being through relief efforts and program sponsorship, as well as to advance educational opportunities within the community[4][5]. It operates as a public charity and is registered under the tax-exempt status since February 1972[2].

Purpose and Structure

Established as a Virginia non-stock corporation, the foundation serves as a charitable arm of the Rotary Club of McLean. It allows contributions to be tax-deductible, unlike direct donations to the Rotary Club itself[1]. The foundation is governed by a board of directors, comprising members of the Rotary Club of McLean who serve rotating three-year terms[1].

Financial Overview

As of recent reports, the foundation has shown significant financial activity, with total assets exceeding $845,000 and liabilities under $77,000[2]. Its revenue sources include contributions, investment income, and sales of assets[2]. In 2023, the foundation distributed over $81,600 in grants[5].

Programs and Activities

The McLean Rotary Club Foundation manages three primary types of funds: Endowment, Current, and Designated. The Endowment fund serves as a long-term investment vehicle to support future charitable and educational endeavors[1]. Designated funds are collected for specific projects or organizations, often targeted at local and international initiatives[1].

Governance

The governance of the foundation is overseen by its board of directors, which reviews and approves funding requests submitted by Rotary Club members. All meetings are open to club members, ensuring transparency and involvement in decision-making processes[1].

The foundation plays a crucial role in supporting both local and international projects, aligning with the broader service-oriented goals of the Rotary Club of McLean.

[1] https://www.dacdb.com/Rotary/Accounts/7610/Downloads/5817/Foundation/Foudation.html [2] https://projects.propublica.org/nonprofits/organizations/237181710 [3] https://www.mcleanrotary.org [4] https://www.guidestar.org/profile/23-7181710 [5] https://www.instrumentl.com/990-report/mclean-rotary-club-foundation-inc