Rotary and Foundation report losses in most recent year
Most of those loses due to stock market performance and currency exchanges.
The Rotary International annual report for the year ending June 30, 2016 shows a net loss of $1.9 million compared to a loss of $12.3 million in the previous year.
Major factors in the loss were investment losses of $3 million and currency exchange losses of $1.2 million.
Meanwhile, the Rotary Foundation showed expenses exceeded income by $15.9 million for the same period compared to losses of $5.9 million in the previous year. The foundation is a totally separate corporation with its own board.
Rotarians pay $55 a year in dues to international, plus district dues. The three largest programs funded at international are:
--Programs and member services, $19.31 per member;
--IT, operations and admin, $11.44; and
--Communications, $8.57.
On the foundation side, of the $221 million in program awards, $115 million went to polio eradication and $70 million to global grants. Another $26 million was made available for district grants and only $5 million on administration.
Complete financials can be found at https://www.rotary.org/en/about-rotary/financials.