Statutes
The fund's name and registered office.
The fund's name is Rotary Investment Fund (formerly Kongens Lyngby Rotary Club's Fund).
The fund's registered office is Lyngby Taarbæk municipality.
THE PURPOSE OF THE FUND IS:
To support humanitarian causes.
To promote international understanding.
To support innovation and development in the local community - with altruistic profit creation as an ideology.
To support members of Kongens Lyngby Rotary Club's interest in investment.
To spread the fund's ideas and initiative to other Rotary clubs,
To collaborate and share knowledge with companies and educational institutions.
The individual points in the fund's purpose are arranged side-by-side.
capital
The fund's share capital is DKK 50,000. Additional capital is free capital, which can be used/distributed in accordance with the fund's purpose.
The board takes care of an appropriate and sound investment of the fund's assets without being bound to investment in specific types of asset values or asset effects.
The fund is open for additional funds/gifts.
distributions
The annual profit is used according to the board's decision for disposal, consolidation or distribution.
Distributions are made at the board's initiative, with or without application. Distributions can be made as gifts and/or loans.
No one has a legal claim to distributions from the fund.
Rotary Investment Fund supports though distributions Rotary’s 7 areas of focus:
Through our statutory purposes, a.o.
To support humanitarian causes
To promote international understanding
To support innovation and development in the local community
the fund adhere to Rotary’s 7 areas of focus:
Promoting peace. Rotary encourages conversations to foster understanding within and across cultures.
Fighting disease.
Providing clean water, sanitation, and hygiene.
Saving mothers and children.
Supporting education.
Growing local economies.
Protecting the environment.
Board of directors
The board consists of 3 – 5 members who are appointed for a 2-year period by the board of Kongens Lyngby Rotary Club. The majority of the board members must not be members of the board of the Kongens Lyngby Rotary Club. The board members, who do not need to be members of Kongens Lyngby Rotary Club, must be business savvy. Board meetings can be held as physical meetings or electronic meetings at the chairman's choice. The same rules apply for decision-making competence in both forms of meeting.
The board has decision-making capacity when more than half are present.
The members of the board are unpaid.
Underwritings
The fund is underwritten by two board members jointly.
The board can issue a power of attorney.
accounting and auditing
The fund's financial year is from July 1st to June 30th.
The accounts are audited by the fund's auditor, alternatively Kongens Lyngby Rotary Club's auditor.
The audited accounts are presented at an ordinary member meeting of the Kongens Lyngby Rotary Club within 5 months after the end of the financial year.
Amendment of articles of association
The fund's articles of association can be changed and the fund transformed into another legal entity, for example an association, according to the rules for changes of the statutes for Kongens Lyngby Rotary Club in force at any time. In case of a decision to cancel the fund, the last appointed fund board and the board of the Kongens Lyngby Rotary Club jointly dispose of the fund's financial means in accordance with the fund's purpose.
-Lyngby July 9 2023, revised and approved by the board of Kongens Lyngby Rotary Club February 7 2023. If there is uncertainty about the English translation, the original Danish version applies.