Dennis Morgan, Medford Rotary Foundation President, presided over the Foundation’s Annual Meeting with Club members. Dennis informed members of the history of the Medford Rotary Foundation, which was founded in 1923. In 1947, the club began an informal student loan program. In the early 1960’s it had evolved into a formal scholarship grant program. During the last 45 years approximately 1.5M in grants have been awarded by the foundation.
Brooke Costano, expressed her sincere gratitude to the members for being selected as a recipient of the George Huggins Scholarship. This scholarship is awarded to a graduate from North or South Medford High School who plans to enter the field of education and is active in sports and community service.
Jeri Childress, North Medford High School Counselor, also thanked the Foundation for the scholarship grants.
Tom Carter, Medford Rotary Foundation Treasurer, provided the Treasurer’s report. He reported that we have $681,991.93 invested in fixed income portfolios. Last year, the foundation provided 50,000 in scholarships but noted that this amount included a student carryover. The Foundation also contributed $500 to Kids Spree.
Members also approved a change in the bylaws regarding financial audits, being changed to financial reviews conducted by two members from the Club and one member from the Board. Chuck Root made the motion to accept the changes with a second by Tim Gerking.
