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Grants
Rotary Grant Committee
Quarterly Report
July-Sept, 2008
One of the major objectives of the Grant Committee in fiscal year 2008-2009 was to expand our grant donations to reduce the excessive treasury balance we had accumulated over the past few years.
That has been accomplished during the first quarter of the 2008-2009 fiscal year, perhaps somewhat excessively due to not being fully aware of other expenses occurring during that period. Nevertheless, we have accomplished our goal which began on July 1, 2008 with a treasury balance of $35,409.10. The total balance on September 30th is $24,397.42, which does not include the last $6,500 of grants.
We provided total grants of $12, 950 during the first quarter. However, of that amount there was a $500 pre-known replacement into the treasury for the Officer Dave Mello donation of $1,000, and a late payment of a $2000 grant for Rotary International which was not paid during the previous year. Therefore, our budgeted fiscal grant payments were $10,450. Grants were given as follows:
M.O. Life, Inc 500
Rush America 700
Muscular Dystrophy Assoc (Vasta) 100
Officer Dave Mello Fund 1,000
Greater New Bedford Children's Fund 1,000
Zeiterion Theatre 500
Rotary Int Pure Water Project 2008 2,000
Rotary Int Pure Water Project 2009 1,000
At this juncture we will return to providing grants within the budgetary parameters of maintaining an annual treasury balance of $10,000-$15,000.
How the money has been earmarked in the first quarter:
Needy Med Assistance Rotary Int Education
4,200 - 32% 3,100 - 24% 3,000 - 23% 1,150 - 9%
Children Benefit Civic Enhancement Elderly Benefit
1,000 - 8% 500 - 4% 0 - 0%