Rotary Club of Morro Bay Foundation

Background and Charter

The Rotary Club of Morro Bay Foundation was incorporated as a 501 (c) (3) non-profit corporation on December 06, 1988.  The Foundation was established for the purpose of creating a permanent fund which would provide college scholarships annually to selected high school students.

The Foundation Bylaws and the Rotary Club's continuing resolutions establish a Board of Directors comprised of the most recently available five past Rotary Club Presidents and two club members at large selected by the Foundation Board, plus the immediate Past President who acts as liaison between the Board of Directors of the Rotary Club and the Board of Directors of the Rotary Club of Morro Bay Foundation.  The continuing resolutions commit the club to donating at least $5,000 or 40% of the proceeds from the Central Coast Golf Tournament, whichever is greater, per year, to the Foundation.  Members may make individual donations to the Foundation.

The Club's Paul Harris Fellow Quartet Program funds are deposited in the Foundation checking account and in turn, the Foundation contributes a sum equal to that collected to the Rotary Foundation to provide Paul Harris Fellow awards to selected quartet members.

Currently, the Club Foundation's assets exceed $140,000.  The Foundation makes annual contribution to scholarships for local students that varies between $8,000 to $10,000 per year.

This past Rotary year of July, 2005 to June, 2006, the Rotary Club of Morro Bay Foundation supported 6 students in the Morro Bay High School graduation class with $1,000 scholarships.  These students are selected from the graduating student by the Board of Directors of the Foundation based on each students achidemic achievements and financial need.