[Rotary] TO FORGIVE IS DIVINE Vote YES
JPorter631 at aol.com
JPorter631 at aol.com
Mon Oct 6 20:24:25 PDT 2014
Should Rotary Club of Mendocino Waive Pay Back of Loan?
Rotary Club loaned Rotary Foundation its $29,000
If we do not waive the obligation to Pay Back the loan
We must plan two or more fund-raisers and pay nearly all proceeds to the
Rotary Foundation
How many of you have the energy to do that?
Will not that make it impossible to devote much money to our Avenues of
Service?
But if Rotary Club informs the Foundation it need not pay back that
$29,000 then
The Foundation has enough money to buy the Park (it is doing it now) and
would be able to pay some maintenance costs, insurance and start putting
down the paving stones
The Club would be free to use its funds it has in income for the
Avenues of Service and Scholarships.
If we raise as much as we did last year from Casino Night this coming
March, we will have $15,000 for the above Rotary’s Avenues of Service
including Scholarships. More if we have a Raffle or other fundraiser.
This available income does NOT include $17,000 savings we have in a CD.
That vote will benefit
The Foundation which will be relieved of a $26,000 obligation.
Rotary Club will be more free to use its income for Scholarships,
grants and other Avenues of service.
The Community will be better off. It will have Rotary Park plus the
benefit of other service projects
I will vote to waive the Club’s loan to the Foundation. I ask you to do
likewise.
John Porter
Some have said, “ But the club gave the Foundation $20,000 in the last
year beside the $26K Loan. $46,000 is a LOT. We need some back for
Avenues of Service.
WAIT !! The Fdn is not a foreign corporation. It is US !! What is
easier than forgiving a debt to oneself? And it feels so GOOD !! Vote YES !!
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