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25  years of “Doing Good” in supporting Youth Education

 

The Rotary of St Andrew North Education Foundation Ltd was incorporated in September 1996 as a company limited by guarantee. The subscribers were also appointed Directors.

The proceeds of a fun day staged by the Rotary Club of St Andrew North in March 1996 amounting to approximately J$550,000 was used to seed the Foundation.

The stated intent of the Foundation was to accumulate the amount of J$1,000,000 as principal, after which, the earnings therefrom would be used to disburse grants to needy students at the secondary and tertiary levels.

In YE June 2006, the Rotary Club of St Andrew North contributed $233,900 to the Foundation and since  the year ended June 30, 2008 the club has made capital contributions to the Foundation  of 10% of the net proceeds of the Annual Fun Day.

The first donation to a student was made in the YE June 30,1998 in the amount of $6,000 and subsequently donations totaling $1,909,213 have been disbursed.  Over 80 students have benefited from disbursements over the past 25 years.

In Year Ended June 30, 2011 the name was changed to Rotary Club of St Andrew North Education Foundation and it was designated a charitable organisation exempted from Income Taxes. Funds invested at June 30, 2017 amount to J$1,957,924