Successful Investor Updates North Haven Rotary Club on Its Foundation

As he introduced his annual financial report to the local club, Harold E. Ginter, Jr. stated that he has been the treasurer of the North Haven Rotary Foundation, Inc. for 39 years. Although it had actually been founded in 1966, he began as treasurer of the tax deductible foundation the year following his service as president of the North Haven Rotary Club in 1972 -73. He said that the club’s original intention was to build a large base from which to draw funds, but due to IRS regulations inhibiting this, the first scholarship went to a single high school student for only $400. He then announced that since its inception, the North Haven Rotary Foundation has assisted 163 students, and has distributed $141,000.  During the last commencement, a total of $11,000 in scholarship money was awarded to 11 students (7 from North Haven High School, and 2 each from Gateway Community College and Quinnipiac University.)

The $2,000 awarded annually to QU students in medical fields such as nursing and physical therapy has been provided by the Montowese Health and Rehabilitation Center, reaching a total donation of $40,000 this past spring. One of the owners of the center, Farooq Khan, has been an active member of this North Haven service club for 29 years. The trustees of the foundation include the past five presidents of the North Haven Rotary Club with President-Elect Debbie Volain serving as an assistant treasurer. Concluding that, “We’ve had another really fine year,” upon completion of his review of the balance sheet, Hal Ginter, a North Haven Rotarian for nearly 48 years, received enthusiastic applause from the membership for continuing to make profitable investments, despite the swings in the economic market.