The Rotary Club of Oak Bay Foundation

The Oak Bay Rotary Club Foundation (OBRF) was established in October 2011 and established as a Society under the BC Society’s Act. The OBR Foundation has been granted the right to issue Charitable Donation Receipts for donations.

The Foundation can support the works of any registered charity, or donate funds to a Municipality (such as Oak Bay). It can be used for most of the charitable work we now do and is very flexible in scope. While the primary purpose of the Foundation is to support community initiatives, it can also be used for international matters provided there is a Canadian charity involved. The Foundation can also be used specifically for support of our scholarships at Oak Bay and for support of programs in local schools, including the provision of books, equipment and educational aids to schools.

Donations may be made to the Foundation for a specific purpose (such as the scholarship) or for the Foundation’s general purposes. Specific purposes other than education as noted above should be discussed with the directors of the Foundation before the gift is made to ensure the donor’s wishes can be properly accomplished. A letter of understanding will be created between the OBRF Board and the Club Board to better define the use of the OBRF funds. Participation in the OBRF will not affect participation in the International Rotary Foundation

Governance:

The (OBRF) is a separate body with strong links between the Oak Bay Rotary Club and the Foundation itself. All fully-paid, active Oak Bay Rotarians are voting members of the OBRF. To ensure independence, a Club Member cannot serve concurrently on both Boards. The only exception is the Club immediate Past President or another Club’s Past President. They can be appointed Director and a voting member of the OBRF Board. This Director’s primary responsibility is to act as the liaison between the two Boards. Club Members elect a minimum of five(5) Directors for up to two three-year terms but all Director’s must be reelected annually at the AGM which is Dec 13, 2011.The Current Directors are: Victoria Pitt, Rod Sim, Joan Peggs, Steve Sharlow, Tav Macpherson, Dave Maxwell (Chair).Note that the OBRF is a separate entity from the club and from The Rotary International Foundation. The OBRF has its own authority and while the OBRF will, for the most part, follow the Clubs main lead, with the Club President as the ultimate leader, neither the Club nor the Foundation can direct the behaviour of the other. Everything flows from common membership.

Service Priorities:

The Rotary Club of Oak Bay Foundation is bound by the Society Act of BC and the Regulations issued by Revenue Canada. This means that the OBRF can only provide funding as specifically identified in THE PURPOSES OF The OBRF.

1. We can gift funds to qualified donees defined in subsection 149.1(1) of the Income Tax Act. Basically Charities registered and approved by Revenue Canada.
Eg. APU Malawi Education Fund: Reg. # 8085 14657RR0001

2. We want to advance education: scholarships, bursaries and awards to Oak Bay students exemplifying “Service Above Self”.

3. We want to advance education of students in Greater Victoria by providing books, equipment and educational aids.

4. To do all such things as are ancillary and incidental to attaining 1 through 3 above.

Funding Projects:

The OBRF may make contributions to organizations it considers to be well managed and whose mandates fit within the OBR Foundation’s purposes and objectives. This is only done if it is clear that the project or event will be sustainable without further funding from OBRF.
The OBRF can also provide grants for projects that address a community need in an area such as education, health and well-being.
International Projects can be funded if the project recipient is a “Qualified Donee” under Subsection 149.1(1) of the Canadian Income Tax Act.

Requests for funding may be made through the Club’s website.

Donations:

Revenue Canada (CRA) regulations are very specific about the amounts and types of taxpayer donations which are acceptable for Income Tax Receipt purposes:
Tax receipts will be issued for donations of $100 and higher. The receipts will be issued promptly.

1. Cash, cheque or draft payable to: The Rotary Club of Oak Bay Foundation, C/O Oak Bay Recreation Centre, 1975 Bee Street, Victoria, BC, V8R 5E6

2. Donation of Listed Securities: By completion of a “Certificate of Transfer” available from the OBR Foundation or at BMO Investorline. Form: “Authorization to Transfer non-personal Account”. The donation will be valued on date of receipt and an appropriate valuation will be supplied to complete “disposition” on your Personal Tax Return. A “Charitable Donation Receipt” will be issued.

Note: Canadian Taxpayers with “appreciated ‘qualified’ securities” can donate them receiving Charitable donation Receipt for “full market value” while not having a “taxable gain on disposition”. Please confirm with your tax professional.