PROJECTS PARTNERSHIP

To help Rotary clubs raise funds for projects that fulfill the objectives of Yayasan kelab Kelab Rotary Malaysia

One of the activities of Yayasan Kelab Kelab Rotary Malaysia over the years was to help Rotary clubs raise funds for projects that fulfill the objectives of Yayasan kelab Kelab Rotary Malaysia by granting the donor/sponsors tax exempt receipts for their contributions.

Previously a levy of between 5% to 10%, usually 10%, is charged to the club that uses the facilities. The charge and other factors has led to little or no use of this facility by clubs in recent years.

The newly created Projects Partnership Committee of Yayasan Kelab Kelab Rotary Malaysia will promote the facility and encourage clubs to use it by making the requirements more attractive to clubs.

Objective

  1. To grant tax exempt receipts to donors/sponsors of club projects where both the donors/sponsors and the participating Rotary club(s) accepts Yayasan Kelab Kelab Rotary Malaysia as a partner of the project in all aspects.
  2. The project must fulfill the objectives of Yayasan Kelab Kelab Rotary Malaysia
  3. The funds raised from donors/sponsors must not be used to make donations to other organization(s). In other words the club must carry out the project together with Yayasan Kelab Kelab Rotary Malaysia.
  4. The project may receive additional funding from other sources like the TRF, CIMB Foundation etc. with the approval of Yayasan Kelab Kelab Rotary Malaysia.
  5. The program cannot be used for on going project or completed project.

REPORTING REQUIREMENTS AND RETENTION OF 10% PAYMENT

Yayasan Kelab Kelab Rotary Malaysia will retain 10% of the payment due to the vendor, supplier or beneficiaries pending completion of reporting requirements. This money will be release on submission of final report, including financial accounts and photographs to Yayasan Kelab Kelab Rotary Malaysia.

NOTES:

  1. The 85% expenditure, direct payment to the vendor/supplier and naming the Yayasan as partner are requirements for the Yayasan Kelab Kelab Rotary Malaysia to maintain its tax exempt Foundation status.
  2. The Project Partnership Committee working with the Yayasan Kelab Kelab Rotary Malaysia Treasurer will make every effort to approve completed applications that are in order and make payments within one calendar month or less.

REQUIREMENTS

  1. Tax exemption:
    1. Yayasan Kelab Kelab Rotary Malaysia will levy a charge of RM 200.00 for tax exempt receipts of RM 20,000.00 or less.
    2. A total of 5 tax exempt receipts will be issued for a maximum of 5 payments received.
    3. A further levy of RM 100.00 will be charged for the next 6 to 25 receipts issued.
    4. A further levy of RM 100.00 will be charged for every 25 receipts or part thereof for additional receipts requested after the first 25 receipts.
    5. The minimum amount of donation to be entitled to a tax exempt receipt is RM 100.00.
    6. The club will pay for all expenses incurred in addition to the levy in the implementation of the project.
  2. Levy:
    1. The Board of Trustees of Yayasan Kelab Kelab Rotary Malaysia shall be authorized to waive the levy for both Rotary club and District projects subject to an application providing its reasons.
    2. The maximum of 5 free tax exempt receipts shall apply when the levy is waived.
  3. At least 85% of the donation / sponsorship that has been granted tax exempt receipts MUST be spent on the project.
  4. All payments for the project must be made direct to the vendors/suppliers or beneficiaries.:
    1. The project must be completed with all payments made to the vendors/suppliers within six (6) months after the payments has been received by Yayasan Kelab Kelab Rotary Malaysia.
    2. A Rotary club cannot raise money, park it with Yayasan Kelab Kelab Rotary Malaysia and then look for a project to use the fund.
    3. Any money received by Yayasan Kelab Kelab Rotary Malaysia and tax exempt receipt(s) issued not used after six (6) months shall be treated as donations to Yayasan Kelab Kelab Rotary Malaysia.
    4. A Rotary Club can appeal in writing to the Board of Trustees for an extension before the expiry of the six (6) month.
    5. A Rotary Club can extend the period for using the donation for a maximum of six (6) months only.
    6. An agreement to this effect shall be signed between the Rotary Club(s) and Yayasan Kelab Kelab Rotary Malaysia once the application is approved.
  5. All payments must be made to the existing Yayasan Kelab Kelab Rotary Malaysia operating account(s) through the Trustee in charge. No new account(s) will be opened solely for the purpose of receiving money for a project:
    1. At the time of launching of the project, Yayasan Kelab Kelab Rotary Malaysia must be named as a partner of the project and accorded the status of a partner of the project. This includes the program, souvenir magazine, banners and backdrops and any plaques and signages to commemorate the project
    2. Please invite the Chairman and Trustee in charge of the Project Partnership Program to the official launch of the project.
  6. All request for use of the tax exempt facilities shall be made with the prescribed form.
  7. A final report be prepared including the final accounts or financial statement and photographs of the project be submitted to Yayasan Kelab Kelab Rotary Malaysia for our record.

APPLICATION PROCEDURE

  1. Complete application form.
  2. Submit application form. Please indicate likely number of tax exempt receipts required.
  3. Obtain approval of application in writing from Trustee in charge.
  4. Pay administration fees.
  5. Sign Agreement Form with Yayasan Kelab Kelab Rotary Malaysia.
  6. Collect funds from sponsors and donors.
  7. Submit contributions to Trustee in charge using the Yayasan Kelab Kelab Rotary Malaysia Donor Contribution Form. DO NOT BANK THE MONEY INTO THE YAYASAN KELAB KELAB ROTARY ACCOUNT YOURSELF.
  8. All contributions must be paid into Yayasan kelab Kelab Rotary Malaysia existing operating accounts. NO new account will be opened for a project.
  9. Treasurer will issue tax exempt receipts provided item 4(c) and 4(d) above is fulfilled.
  10. Carry out project. Please invite the Chairman and Trustee in charge of the Project Partnership Program to the official launching of the project. Please include Yayasan Kelab Kelab Rotary Malaysia as a partner of the project in your program, souvenir program, banners and backdrops and all commemorative plaques and signages.
  11. Submit invoice to Trustee in charge of Project Partnership program
  12. Paymentof 90% by Yayasan Kelab Kelab Rotary Malaysia direct to vendor/suppliers/beneficiaries.
  13. Can obtain advance payment by submission of invoice.
  14. Prepare a final report including the final accounts or financial statement and photographs of the project for submission to Yayasan Kelab Kelab Rotary Malaysia for our record.
  15. Release of remaining 10% of grant.
  16. File closed.
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