Buckhead Rotary Foundation

Sponsored by our club, the Buckhead Rotary Foundation was created to support our local Buckhead community. The Buckhead Rotary Foundation Board, which determines the amount and recipient of contributions, consists of:

1. Six ex officio past presidents serving six-year terms
2. Six regular directors (including the club's director with oversight over the foundation) serving six-year terms
3. Two temporary Otis Jackson transition directors

Otis Jackson Fund - This fund, now a part of the Foundation, exists to support scholarships at Oglethorpe University, and was started in honor of our late past president, Otis Jackson, educator and graduate of Oglethorpe. Scholarship selection is patterned after the Rhodes Scholar.

A Brief History of the Buckhead Rotary Foundation (by John Dykes)

In 1992, the idea originated to form a charitable foundation, and it was registered as a Georgia corporation with the following stated purpose:

• To provide a vehicle through which Buckhead Rotarians and others can support various charitable projects of interest to the Buckhead Rotary club.
• The foundation was not founded to be the charitable side of the Rotary Club of Buckhead, but to establish an endowment to benefit charities in addition to the club's budget. Unless otherwise designated with the donation, all funds are restricted to the corpus, with only the earnings to be disbursed.

In 1993, the foundation filed with the IRS for a 501(c)(3) status as a charitable organization so that donations would be tax deductible.

In 1994, the foundation received provisional IRS approval as a 501(c)(3) organization.

In 1997, the foundation received final approval as a 501(c)(3) organization.

In 1999, a separate board of directors was established for the foundation, consisting of Buckhead Rotary Club past presidents. Until then, the club's board was ex officio the foundation's board. This dual role was unwieldy and obscured the separation of the foundation from the club's charitable activities. A separate board highlighted the different purpose and time frame of the foundation: long term vs. the club year with its current club budget considerations.

In 2000, the auction arrangements between the club and the foundation were formalized in an approved agreement. Two principal decisions: 1) the club would underwrite the ball for the foundation, and 2) the foundation would receive not less than 51% of the net proceeds. This was later amended so that the foundation also financed the ball, and the club only did the billing.

In 2004, the club requested and the foundation agreed to administer the club's annual charitable receipts and disbursements. Until then, the club's charities were included in the dues amount and the club disbursed them. This often resulted in a reduction in giving to balance the budget. The club determined that $75 per member per quarter represented the proper charitable amount to fund the club's charities. This had nothing to do with the foundation's operations other than to administer the receipts from the club and disburse them in the club year. Each year the club's board indicates its desired distribution of the $75 plus Auction Fund by recommending a list of charities to the foundation's board. As this list represents "charities of interest to the Buckhead Rotary Club," they are generally approved by the foundation's board. Generally there are no carry-overs, with any remaining funds going to the corpus. Shortfalls from the auction or number of members are generally covered by the foundation.