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Fact Sheet…Petaluma Sunrise Rotary Foundation

  • The Petaluma Sunrise Foundation 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. Informally it will be referred to as the Sunrise Foundation while the Rotary International Foundation will be referred to as simply The Foundation.
  • The mission of the Sunrise Foundation is to raise and manage funds that will enhance and expand the Rotary Club of Petaluma Sunrise’s capabilities to participate in local and international service projects and to provide individual Rotarians and other community members a vehicle to make annual and planned gifts for the long term benefit of the Rotary Club and the community at large.
  • The Sunrise Foundation is a separate legal entity from the Rotary Club and has its own board of directors. Currently there are 5 board members 3 of which need to be current Rotary Club members. The Rotary Club has its own board of directors and is part of RI with no tax exempt tax status.
  • Although the Sunrise Foundation and Rotary Club 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. The 4 Way Test applies.
  • The Sunrise Foundation can and will do its own fundraising while asking for voluntary assistance from Club members and other community members. Unless approved by the Sunrise Foundation board the net proceeds of these fundraisers will not be pre-designated. The Rotary Club will continue to operate its own fundraisers as needed
  • The Sunrise Foundation will carry its own insurance and ensure all necessary permits are secured for its own events. Only the Sunrise Foundation board can enter into any contracts on its own behalf.
  • Formal but simple applications will be required for any distribution of funds. Allocation of any Sunrise Foundation funds need full board approval. Applications will be accepted from the Rotary Club as well as other organizations. The Sunrise Foundation requires applications to be received at least 30 days before any funds can be distributed.
  • Acceptance of donor designated funds is at the discretion of the Sunrise Foundation board. However, if accepted, these funds can only be used for that specific designated purpose. Application for these funds will also be required for any distribution. The Sunrise Foundation can not nor will it be simply a pass thru checking account.
  • The Sunrise Foundation can and will build assets for future larger projects and will assist the Rotary Club in achieving their strategic plans. To that end the Sunrise Foundation board can and will set up a variety of restricted and unrestricted accounts plus donor designated accounts.
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