Rotary Foundation of Coral Gables Inc.

“FINES 5 TOTAL 5”

“SCHOLARSHIPS 18,000 0 0”

“Veterens home funishing project charitable grant 11/15/2014 8,000 0 0”

“Expenses admin expenses 1,824 civic & charity expenses 2,664 other expenses 42 fund raising expenses 68 total 4,598”

“Unrealized gain/loss -6,758”

“Accounts receivable 50 75 total 50 75”

“Accounts payable and accrued expenses 25,154 27,724 permanent funds 735 2,663 sales tax payable 149 148”

“Scholarship awards, elder care programs, youth education activities,clean water programs, and other charitable programs.”

“The rotary foundation of coral gables, florida, inc, aka scholarship fund of coral gables rotary, awards scholarships to students for their university studies. Scholarships are awarded based on academic performance, community service, leadership, a letter of recommendation, and enrollment in an accredited college or university. Some students are from very low income households. Other students are selecterd in order to encourage leadership, academics, and community service. Loans are not a part of the program at this time. Application forms are provided by the rotary foundation to the guidance counselors at local high schools. A copy of the brochure is attached. Records and case histories of the students are maintained. The focus is on schools in south florida where there are interact high school service clubs that are sponsored by the rotary club of coral gables. Scholarships are not restricted to students who are interact members. Students may attend any accredited college or university of their choosing. The criteria is grade point average, community service, demonstrated leadership, an essay about the student's values, and a letter of recommendation from a teacher. Financial need and participation in interact are also taken into consideration. The number of grants awarded is based on available funds and the number of applicants meeting the criteria, as evaluated by the scholarship committee. The committee currently consists of 10 people who are members of the rotary club of coral gables. The committee members read and evaluate the applications based on a standardized point system for each of the criteria. The committee decides on the amounts to be awarded. Students must have and maintain a 3.0 unweighted grade point or b average. Scholarships are distributed to the winners upon proof of enrollment. Payments are made directly to the universities. Any renewal requires a transcript showing that the student maintained a 3.0 or b average. Membership on the scholarship committee is open to members of the rotary club of coral gables, major sponsors, and other individuals endorsed by the majority of the other committee members. Replacement of members follows the same criteria as membership selection. Children and grandchildren of the selection committee, substantial sponsors, or members of the rotary club of coral gables are not eligible to apply. During the fiscal year ended june 30, 2015 scholarships ranging from 500 to 3,000 were granted to 11 students.”

“The bylaws were changed to specifically provide for scholarships.”