Lakewood Community Foundation

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HISTORY

 

The Foundation was formerly known as the Charitable Foundation of the Rotary Clubs of Lakewood. It was established by the Lakewood and Clover Park Rotary Clubs in 1993 and the name was changed in 2007 to include a larger segment of concerned citizens and organizations. Donations to the Foundation are tax deductible as it was declared tax exempt from income tax under Section 501(a) of the Internal Revenue Code as an organization described in Section 501 (c) (3) as of November 19, 1993.

For more information:   http://lakewoodfoundation.org/

PURPOSE

The purpose of the Foundation is to create a permanent fund of at least $1,000,000 with a conservative investment policy. The proceeds derived from the fund earnings shall be distributed solely in the communities of Lakewood, Steilacoom, and DuPont.  

COMMITTEE

The Lakewood Rotary Club committee is responsible for keeping club members informed as to the condition of the foundation and to promote donations. Donations made with specific requests for distribution to the needy and/or organizations will be honored as long as they meet the charitable goals of the Foundation. Other donations will be used to build the permanent fund. All donations are tax deductible by the donor. The committee chairman will call for meetings when deemed necessary, will recruit, and train members to work toward achieving the Foundation goals.   

BOARD OF DIRECTORS

The Foundation board of directors consists of three (3) members from each of the Rotary clubs serving rotating terms. There will be three additional board members from the community at large. The board meets three to four times a year and determines investment policy, fund raising programs, and disperses funds to qualified organizations and individuals. Distributions may be made but not limited to scholarships, youth and senior programs, food and housing for the needy, scientific, educational, and cultural endeavors, as well as projects benefiting the communities as a whole.  
 
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