As Stated in the By-Laws of the Brevard Rotary Foundation, Inc., the corpus of the foundation must reach $100,000 before any interest derived from the corpus could be used for scholarships or other funding approved by the Board of Birectors (BOD). A member may becomer a Sustaining Member by instructing the Treasurer of the club to begin including the contribution in the Quarterly Statements. The Treasurer of the club will trasfet all funds collected from Sustaining Members to the foundation within 30 days of the end of a quarter.

 

The original intent of this restriction was to encourage the membership of the club to become a sustaining member similar to that of the Rotary Foundation. Even any contribution amount to the corpus is most gladly accepted members are encouraged to contribute at least $25 per quarter into the corpus.

 

Funds raised through the various Events by the Rotary Club of Brevard will be helded by the BRF in a separate account from the corpus.  The RCofB will submit each Rotary year a request for expenditures by the BRF to support the scholarships and other projects aboved by the RCofB's BOD. The RCofB's BOD may also designate a portion of funds raised by Events to be contributed into the corpus of the foundation.