Upload
others
View
0
Download
0
Embed Size (px)
Citation preview
Vol 2. No 28 April 19, 2016
THE RALPH MOORE MEMORIAL FUND
By Art Long, Fund Trustee
After the April 12th Board Meeting, It
is my observation that little is known
about the Ralph Moore Memorial
Fund by the membership, especially
our newer ones. As one of the Trus-
tees, it is my responsibility to inform
and educate the club on the verbs of
the fund. I wish it could be done in a
few short paragraphs, however; its genesis does not permit
it. So, here goes…
Ralph Moore was our 1996-1997 Club President. At some
point in his term, Ralph established a “Permanent Fund,”
AKA; Jackson Rotary Foundation, which would mimic
RI’s “Rotary Foundation.” He envisioned the Permanent
Fund (PF) as a lump sum of money which would collect
interest. The interest would be used to fund “Community
Projects.”
During his term and for a few years afterward, the PF had
growth mostly through member contributions. Over time
and changes in membership, the PF stagnated at signifi-
cant sum, but not enough to produce sufficient interest to
fund Community Projects. Senior members continued to
make small donations while newer members became con-
fused by the titles of the two funds, Rotary Foundation
and Jackson Rotary Foundation.
In my term as club president in 2004-2005, there was a
movement within the club to place club funds in var-
ious “Market Accounts” to maximize growth. It was
also decided to re-energize the PF by establishing an
account growth of $100,000 to produce a more pro-
ductive amount of interest. To expedite PF growth,
it was decided to place 20% of the net proceeds of
club fund raising into the PF.
After Ralph’s sudden death in 2008, the Board of
Directors moved to rename the PF, “The Ralph
Moore Memorial Fund” (Fund) when it reached the
benchmark of $100, 000. Shortly afterward, the
benchmark was achieved and the Fund renamed.
Then a worldwide economic downturn occurred that
negatively impacted all club accounts. The Fund
dropped below the $100,000 threshold.
During the 2009-2010 presidential term, a committee
of 3 Trustees was established to manage the account
and make recommendations to the Board on Fund
activities. The Market rebounded and brought the
Fund back above the benchmark. In December,
2009, the fund had a value of $117, 324.49. From
this amount the first project was proposed and
$14,720.10 drawn to pay for the beverage trailer.
Then, with the approval of the Board, at the recom-
mendation of trustees, the Fund was placed in a sav-
ings account to isolate the account and better ob-
Con’t on page 5
NEW AMADOR COUNTY MURAL FOR JACKSON
The Jackson City council has approved a new three panel
mural which will be painted on the concrete wall at the
Boyett Petroleum service station on the corner of 49/88.
The artist will be Rand Huggett who is the artist that paint-
ed the City of Jackson mural on the Fire Station wall. The
total cost of this project is about $20,000 and the city is
looking to community donations to help offset their por-
tion of this cost. The Jackson Rotary Club Board of Direc-
tors approved a $4000 donation to this project which will
be spread out over the next two years. Other organizations
that are being approached include the Amador Chamber of
Commerce, NSGW #31, and the Jackson Lions Club. The
project will be completed during the next six months
Saturday the 23rd, we will have our Rotarians at Work Day when all Rotarians in the
world will join to do good in their communities and in the world. Thank you all
who signed up for our day at the Food Bank. It probably will warm enough to pro-
vide you with some solar cooked food, if not very hot I always can make hot dogs
in the solar oven, no need for too much sun to warm the wieners and the buns.
I also want to thank Sharon for the excellent job with the speakers program, the
visit last week of the ladies with the owls was really a highlight!
The District Conference is around the corner, there always is a lot to do during the
Conference. The flyer for the day’s events are on the next page, there is something
interesting for anybody. I will start with Ashley to prepare our display in the House of Friendship, since all focus is
on Youth Activities. We are certainly in condition to look good with our great active Interact members.
Rotary International is already planning for the centennial celebration which will be started at the International
Convention in Korea, 28 May - 1 June. But they encourage clubs to start planning their own centennial activities.
It might again be a great opportunity for a 4-Club joint event, so let’s think about it.
YIR
PRESIDENT’S MESSAGE
FOOD BANK WORK PARTY —> Saturday April 23rd
Beginning at 8:00am we will clean the property around the Inter Faith Food Bank. This is our
“Rotary at Work Day” and it not only benefits the community but also our fellow member
and Past President Tom Thompson. So, if you have not been to the last couple of meetings,
please plan on helping out on this club project. The plan is to be completed by 11:00 (or
12:00) so you will be able to enjoy the rest of your day.
City of Jackson Mayor (and rotary club member) Keith
Sweet shows off the artist’s rendering of the new three
panel mural to be painted in downtown Jackson
Speaker: Susan Manning
Tri County Wildlife Care
Our speaker this week was Susan Manning from the Tri-
County Wildlife Care. Joining her was Pat Benik and Teddy
Flory who brought a couple of their owl rescues with them.
Stella (the barn owl) is missing her flight feathers on her right
wing and is unable to fly for hunting but still has a four mouse
a day appetite. Marbles (the western screech owl) has no natu-
ral eyes and is completely blind. Susan. Pat and Teddy ex-
plained what the TCWC does for the community, shared their
feathered friends and informed us of their upcoming fund
raiser which will be held at the Legion of Honor Hall. For
more information about TCWC go to www.pawspartners.org
Bruce Platt toasting Marv and Sharon on the eve of
their 30th year anniversary of wedded bliss...
DID YOU KNOW…???
1) 2016 was Jackson Rotary Club’s eleventh year of distributing dictionaries to the 3rd grade clas-
ses at Jackson Elementary. The average third grader has a vocabulary of about 5,000 words.
The dictionaries we distribute has over 35,000 words. No wonder the kids are excited when
they learn that the book belong to them to take home and keep forever! This year, we had an
excess of 8 dictionaries that were taken to Independence High School for distribution.
2) The Jackson Interact club recently donated $267.17 to the Polio Plus campaign. These monies
were raised as part of their on going fundraising efforts as they helped at the Shriners Dinner,
the Trivia Challenge, the Four Club mixer and a Purple Pinky campaign that they held at
school.
3) Sutter Hospital is holding their 5th annual Hospital Theme Ball on October 22nd. This year’s
theme is “Night at the Museum”. The event will be held at the Jackson Rancheria Grand Ball-
room. Monies raised will benefit the Sutter Hospital’s Birthing Center which had 413 births
during 2015. For more info, contact Past President Marv
serve interest and growth and also protect it from a volatile market.
The trustees are composed of three club members appointed or re-appointed annually and serve at the will and
pleasure of the Board. It is the trustees’ responsibility to place the Fund in a secure (as possible) FDIC interest
bearing account and to advise the Board on Fund availability, use and account status. That is done monthly as part
of the Treasurer’s report to the Board. The ultimate authority on Fund activities rests with the Board of Directors.
The trustees do not have veto authority.
At the beginning of each club president’s term, (the
first business meeting in July), the trustees inform
the Board of the Fund value and money available
for community projects. The Board may ask the
trustees to dedicate the money to a specific project
(s), defer the expenditure to a later date or leave the
money in the Fund for consideration in the follow-
ing Rotary year. Earned interest will remain in the
account until used. The trustees will keep a paper record of accumulated interest to keep it identifiable from the
benchmark assets. It is the Board’s responsibility to define “Community Projects.” Ralph’s only request was that
no Fund assets be expended on International Projects.
Money donated to the Fund is added to the benchmark value (principle) and is not excess funds that can be added
to interest earmarked for expenditure. Donations are expected to increase the value of the Fund by increasing the
base amount thereby increasing the Fund’s ability to earn greater interest. Members can donate to the Fund by
asking that it be placed in the Ralph Moore Memorial Fund.
Loans from the Fund to the club is possible for a financial emergency or a project of the utmost importance to the
club and/or the community. Shortfalls in other club monies and unexpected expenditures that put the club in fi-
nancial distress may necessitate a loan request from the Fund. The Board must provide a plan to repay the loan
with a specific payback completion date. Loans will be
paid at the current market rate but no less than 5% APR.
Loan approval requires “Meet and Confer” with the trus-
tees, a “Resolution” from the Board and a “Majority Ap-
proval” of the membership at a pre-announced business
meeting or club assembly.
The requirement for 20% of all net funds to be placed in
the Fund was suspended when the $100,000 benchmark
was achieved. The Fund is currently in two parts. One is a
cash reserve of $24,108.43 (savings account) and the other
is a Lord Abbett mutual fund containing $79,272.55, man-
aged by club member Chris Petralli and Morgan Stanly
Wealth Management. Earned interest has improved mak-
ing $3,608.68 in funds available and waiting for approved
projects.
Ralph Moore Memorial Fund Trustees
THE RALPH MOORE MEMORIAL FUND Con’t from page 1
By Art Long, Fund Trustee
Check out the changes President Elect Mike F
is making as he ramps up for his upcoming year…
Not only did Mike purchase (at his personal expense)
the projector and screen which was used during the
Trivia Challenge event, but he installed a new sound
system for the club’s use at last week’s meeting.
Stronger, clearer sounding and supporting a wide
range of inputs, this new system should make it easi-
er for those of us that wonder what is being said dur-
ing the meeting. One short range goal is for the club
to have the ability to accept credit card payments for
fundraising events (and maybe weekly meals?). Only
time will tell!
Tuesday Apr 19th Thomas Moraitis
Tuesday Apr 26th Ron Antone (Amador County Farmers Market)
Tuesday May 3rd Richard Forester & John Sullivan (Rotary Membership)
Saturday May 7th Highway 49 Cleanup (Meet at Vista Point at 8:00am)
Tuesday May 10th Speaker TBD
May 13-15, 2016 2016 District Conference at Atlantis Convention Center in Reno
Tuesday May 17th Linda Heim & Beth Barnard (Baker Street West)
Tuesday May 24th Representative from Pine Grove Youth Camp
May 12-15th District 5190 Conference in Reno
May 28-29th (Memorial Day Weekend) Eagles Nest Car Show : Need help with Beverage Trailer operation
>>CLUB CALENDAR: SAVE THE DATE<<
President— Irene Perbal
Past President— Marv Hampton
President Elect— Mike Flagg
President Elect Nominee—Dirk Wentling
Secretary— Bruce Platt
Exec. Secretary— John Sullivan
Treasurer— Richard Campbell
Foundation Chair—Pat Crew
District Governor Elect—John Sullivan
Directors
Club Service—Dirk Wentling
Community Service—Keith Des Voignes
Director at Large—Rick Sprenkel
Director at Large—Anne Platt
Director at Large—Sharon Hampton
Director at Large—Richard Muller
Director at Large—Stan Lukowicz
Membership—Tammie Crabtree
Rotary Club of Jackson 2015-2016 Board of Directors
THANK YOU
We appreciate the assistance offered by the
following members in creating this week’s
newsletter:
Dirk Wentling—Editor , Photography and
Content
Irene Perbal—Content
Art Long—Content
ALOHA RAFFLE
Aloha Raffle tickets are now available for
sale. Ron Floyd has been distributing sets of
six tickets to all members. If you have not
received yours yet, or if you need more be-
cause you have already sold yours, please con-
tact Ron directly. Only 500 tickets will be sold
at a cost of $50 each
or 3/$100. The draw-
ing will be held at our
regular meeting of
August 2nd.