29-11-2005
Funding Explained
Michael Kenny explained some of the nuances of Rotary funding. In the example displayed in the photo, Mike shows how to "find" AUD $10,000. We raise AUD $6,800 which converts to roughly US $4,800. This is split into two amounts: US $4,000 and US $800. On top of the US $4,000, we can receive US $2,500 from the District Designated Fund, and this amount is matched by The Rotary Foundation. Because the sum is now over US $5,000, we are then eligible for the $1 for $2 grant on the original $4,000 from The Rotary Foundation, which adds another US $2,000. Adding back in the US $800 mentioned above, plus a US $100 amount from the Philippines for "ownership", adds up to a grand total of US $11,900 or about AUD $16,220 which is almost AUD $10,000 more than we started with.
Michael's lucid explanation was very well received by the members, as it made clear something which had long been cloudy.
Last changed: 03:15:31 04-10-2008