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Elihue Phares

District Foundation Chair

Magnus Virgin

New Member

ROTARY FOUNDATION

and

A NEW MEMBER

The meeting started off on a good note with the first induction by new Prez Todd.  Enduring Todd's stage fright was Magnus Virgin, Financial Planner.  Magnus is not a stranger to Rotary - he is originally from Sweden and came to the U.S. ah hem years ago as a Rotary Exchange Student.  So don't swear in Swedish around him - he will understand you!  He lives in Heron Bay and works in the office building next to the Marriott, so we are definitely close for him.

Our District Governor Lee Phares didn't have to look far to find someone to appoint as District Foundation Chair - she picked her husband, Elihue.  And a good pick it was because he knows his stuff and imparted his knowledge on us very well.

The Rotary Foundation is made up of three accounts - the Annual Giving, Permanent Fund and Polio Plus.  The Annual Fund is spent each year, although what is put in this year sits accumulating interest for three years and is given back to the Districts three years later.  Currently in that fund is $434.3 million, $114 million coming in last year.

The Permanent Fund is not spent but the interest is disbursed as needed.  That fund is currently $207.9 million.

Polio Plus exists to try to fund the eradication of polio.  When the program started in 1985 there were 350,000 worldwide cases of polio - today it is down to 839.  The program has immunized 2 billion individuals, and existing cases are only found in Pakistan, Afghanistan, India and Nigeria.  District 6990 has a Bill Gates challenge grant obligation of $300,000 by 2011 but as of now the District has already raised $210,000.00.

Todd's impassioned induction		Success
Our secretary smiles smugly after taking a shot at our hard working photographer	The goal for each club	Foundation accounts