Disbursements
The Foundation’s planned disbursement of funds consists of 50% of its annual contributions and 100% of its investment interest income per year.
The Foundation supports and contributes to various Rotary projects and many other requests that do not get to Rotary. All disbursements must be made to the end-user directly, and must meet one or more of the following criteria:
- To provide scholarships to young people in need to further their education.
- To provide financial assistance to young people in need for the purpose of attendance at international education programs.
- To provide scholarships to young people in need attending leadership skills and self esteem programs.
- To provide funding to municipalities that are qualified recipients for beautification projects within the community.
- To relieve poverty in developing nations by providing food and other basic amenities to persons in need and to develop and/or teach public health in developing nations by educating and improving skills in the basic necessities of life, for example, food refrigeration, food preparation, irrigation and sewage development.
- To provide relief to persons suffering from physical disabilities.
- To receive and maintain a fund or funds and to apply all or part of the principal and income therefrom, from time to time, to charitable organizations that are also registered charities under the Income Tax Act (Canada).
EARMARKED DONATIONS AND ENCUMBERED FUNDS:
The Sunrise Foundation can be used to provide charitable donation receipts for donations to Rotary projects that meet one or more of the above criteria. Such donations are made directly to the Sunrise Foundation and earmarked for the project in question. These funds are then encumbered, which is to say they can only be used for the specified project.