The Rotary Foundation is a not-for-profit corporation that supports the efforts of Rotary International to achieve world understanding and peace through international humanitarian, educational, and cultural exchange programs.
The Foundation's Humanitarian Programs fund international Rotary club and district projects designed to improve the quality of life. Providing health care, clean water, food, education, and housing are a few of the basic goals that these projects work toward -- primarily in the developing world. One of the key humanitarian programs is PolioPlus, which seeks to eradicate the polio virus worldwide by the year 2000.
Through its Educational Programs the Foundation provides funding for about 1200 students to study abroad each year. Grants are also awarded to university teachers to teach in developing countries and for exchanges of business and professional people. In all cases, recipients are expected to act as ambassadors of goodwill, furthering international understanding and promoting friendly relations between their host and sponsoring countries.
The Rotary Foundation is supported solely by voluntary contributions from Rotarians and friends of the Foundation who share its vision of a better world. Contributions to the Foundation's Annual Programs Fund are invested for three years, with interest being used to cover all administrative costs. Fully 100 percent of every dollar donated goes directly to humanitarian and educational program expenditures three years later. Gifts to the Foundation's Permanent Fund are invested, with only the earnings being used to support programs.
The Rotary Foundation is governed by 13 Trustees -- four of whom are past RI Presidents -- who were appointed by the current President of RI and confirmed by the Board of Directors.
The Foundation was conceived as an endowment fund in 1917 by Rotary's sixth president, Arch C. Klumph, "for the purpose of doing good in the world." Although The Rotary Foundation was formally established in 1928, significant contributions were not received until 1947, when the death of Rotary founder Paul Harris generated an outpouring of support. Since that time, The Foundation's nine programs have been established, and cumulative contributions have reached about US$825 million.