Supporting Local Students
Established in 1997, the Saratoga Springs Rotary Education Foundation is a tax-exempt organization that raises funds to support the post-secondary education and vocational training of graduates from public and private high schools in the greater Saratoga community. Graduates of Saratoga Springs High School, Saratoga Central Catholic High School, and the Waldorf School of Saratoga Springs have received scholarships.
Professional Investment Management
The Foundation’s endowment is managed by The Adirondack Trust Company of Saratoga Springs. Excluding expenses, all donations received go towards awarded scholarships or building the endowment, at an average rate of 85 cents for every dollar. The Foundation’s Board Members volunteer their time and services.
The complete Financial Statements of the Foundation for the year ended June 30, 2014 can be reviewed here.
A Goal for the Future
Each year, the Foundation receives funds from both the Saratoga Springs Rotary Club and private donors. The Foundation is on its way to reaching and surpassing its initial goal of raising $1 million in endowed funds, ensuring scholarships in perpetuity for local students.
The organization’s major fundraiser is its annual fall brunch, honoring community leaders and educators. (See photos from recent brunch events.)
The Foundation awards funds each year to the Saratoga Springs Rotary Club for the Club’s scholarship program. Since 1989, when the Club first began awarding $50 bond certificates as scholarships, the value has grown significantly, to its present award minimum of $1,500. In recent years, the Foundation has provided annually over $40,000 for scholarships given to approximately one dozen students attending four-year and two-year colleges as well as vocational programs.
(Vested or pledged as of 2015)
In honor of or given by:
Hal & Cindy Gerow and John & Lynn McLuckie
Edward A. Lenz
Margaret “Peppy” Roohan
Alfred Z. Solomon Charitable Trust
Charles V. Wait Sr.
Jane Adams Wait
Newman “Pete” Wait