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Accounting for non-profit company - Essay Example

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As such, fund accounting forms a crucial part of their activities. In this paper, Rotary International, RI would be the not-for-profit,…
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Download file to see previous pages Rotary International is a not-for-profit organization that was founded on February 23, 1905 by the Chicago attorney, Paul P. Harris. The Rotary Club of Chicago provided a platform where diverse professionals would exchange ideas, forming meaningful and lifelong relationships. The name, “Rotary” came from the fact that earlier members used to rotate in each others’ offices for meetings. With its growth, Rotary International aimed at bringing together professional and business leaders so as to render humanitarian services, promote utmost ethical standards in various vocations and foster global goodwill and peace, this being in line with its motto of “Service above self.” In its structure are Rotary clubs, Rotary International and Rotary Foundation. This paper focuses on the Rotary International, RI which is the umbrella body supporting Rotary clubs across the globe and coordinates global campaigns, programs and initiatives. The mission of RI is to “provide service to others, promote integrity, and advance world understanding, goodwill, and peace through its fellowship of business, professional, and community leaders” (Rotary International, 2014). It is therefore a model of a charitable organization seeking to promote social interests in various communities around the world.
RI has its world headquarters based in Evanston, IL in the US. It has international offices in Zurich, New Delhi, Tokyo, Yongdungpo-gu, Parramatta, São Paulo and Buenos Aires serving Europe/Africa, South Asia, Japan, Korea, South Pacific and Philippines, Brazil and Southern South America regions respectively. They also have offices in Great Britain and Ireland. Through this network, Rotary International, RI (2014) documents a current membership of 1.2 million people. These regions contribute towards the total donation income of RI.
The presidency is the topmost position in RI. According to RI (2014), the president leads and motivates the members, ensuring they feel ...Download file to see next pagesRead More
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