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CELEBRATING 100 YEARS OF ROTARY IN FORT COLLINS
John Matsushita Steak Fry

Wednesday August 29, RCFC celebrated an annual ritual with the Johnny Matsushima Centennial Flat Iron Steak Fry at the Farm at Lee Martinez Park.  Steaks were obtained by John Matsushima, including a sampling of the famous Wagyu (Kobe-style) beef.

Wagyu (meaning "Japanese Cattle") steaks are prized worldwide for their astounding marbling, tenderness and juiciness. While the name "Kobe" is reserved exclusively for Wagyu cattle raised in region of Kobe, Japan - cattle raised in the US must be referred to as Wagyu or Kobe-Style.

 

Dr. Yung Hai Chen Memorial Scholarship Announced
President Steve Laine announced the establishment of two new scholarships, funded by Ada Chen.  The scholarships, named in honor of Ada's late husband, Dr. Yung Hai Chen, will provide yearly $3000 scholarships to CSU and $2000 scholarships to Front Range Community College.  Both scholarships are funded for 5 years by a generous gift of $30,000 from Ada.  Ada told an emotional story of coming to the USA and CSU, the many blessings she has received since, and recounted how much Yung Hai loved Rotary.  Ada received a standing ovation for her comments.  Thanks for your leadership and caring, Ada.  Editor's Note:  In a previous version of this story, Dr. Yung Hai Chen's name was misspelled.  We apologize for the error.
New Income Tax Changes

Sid Fahsholtz, CPA, of Brock and Company, presented his analysis of the recently passed 2018 Tax Cuts and Jobs Act.  His high-level summary was that, for both individuals and businesses, individual circumstances will determine whether they will be winners or losers.  Summary of some of the significant changes:

Most tax brackets have been lowered by 1% to 3%; Personal Exemptions have been eliminated; Standard Deduction has been approximately doubled; Alimony: not deductible by payer, not income to recipient; Medical Deductions: threshold 7.5% of AGI in 2018, 10% of AGI after; Property, State, & Local Income Taxes: deductible up to $10,000 if MFJ; New Mortgages: interest deduction capped at $750,000; Home Equity Debt: no interest deduction through 2025 except if $ is used for improving your home; Charitable Deductions: limited to 60% of AGI; contributions from IRA RMD not counted as income and not deductible; Miscellaneous Itemized Deductions: eliminated; Moving Expense Deduction: eliminated; Estate/Gift Tax: now $15,000 per year; $11m total for life; Pass-Through Income: treatment seems to have gotten more complex; Child Tax Credit: up to $2000 for each child with higher phaseout levels; Casualty & Theft Losses: no deduction; Kiddie Tax: earned income at rates for singles; unearned income at brackets applicable to trusts & estates; Net Operating Losses: limited to 80% of taxable income, no carryback option, indefinite carryforward period; Obamacare Individual Mandate: permanently repealed; Corporate Tax Rate: flat tax rate of 21%; Alternative Minimum Tax: effectively eliminated; Fringe Benefit Expenses: entertainment deductions disallowed except 50% for meals; Employer-Paid Family/Medical Leave: at least 12.5% credit if rate of payment is 50% or greater of normally paid wages.  

2018-19 District 5440 Theme:  Literacy
Nationwide, 65% of fourth graders are below proficient in reading.  Colorado and Wyoming are only slightly better.
 
This year's District 5440 theme is literacy.  What is the District doing about literacy? 
  • On October 6 a District Literacy Symposium will be held from 9-3 at the Laramie County Community College in Cheyenne.
  • $15,000 has been set aside for Literacy Centennial grants of up to $1,000 each.
  • A competition will select the top three literacy projects in the district with prizes of additional grant funds for the winners.  
  • Successes will be celebrated at the Foundation Dinner in April, 2019.
Contact Melanie Chamberlain for more details.  
Rotary Club of Fort Collins was chartered August 1, 1918, and this year celebrates 100 Years of Rotary In Fort Collins.  
Club Information
Welcome to our Club!
Fort Collins
Meetings: Wednesday Noon
Drake Center (Lunch)
802 West Drake Road
Fort Collins, CO  80526
United States
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THIS WEEK'S ANNOUNCEMENTS
RCFC's Announcements Editor is traveling.  Please send all announcements to Stacyplemmons@msn.com
 
The Rotary History Fellowship will meet in the foyer immediately after the regular meeting. Our topic this week will be: 'Sports Issues: Questions about college athletics locally and nationally and what about taking a knee in the NFL?' All members and all opinions are always welcome at our fourteen year old fellowship.

Bill Schaffer urges participation in Fort Collins Read Aloud.  For information, go to Fortcollinsreadaloud.org.

Ralph Smith has 2019 calendars available for $14, $5 of which comes to the club.  He presented a check for $120 to the club from last year's sales.

Don Eversole renewed his plea for volunteers to drive courtesy carts at the hospital.  See him for information.

Henry Weisser urged members to enroll in OSHER, CSU's life-long learner classes, and left catalogs at the front desk.

Melanie Chamberlain asked members to pick up directories and to buy Matsushima’s RCFC Centennial Memorial book for $25.

Dave Stewart will be traveling to Mexico in November, and urged members to consider a visit to the orphanage we have helped.  See him for details.

Sally Lee announced King Soopers now requires credit card for reloading more than $100.  Checks no longer taken.  Our club earned $358 this month.

Marty Bachman reminded all to report special occasions/events/illness that the Care and Recognition Committee should acknowledge.  Call Marty, Melanie Chamberlain, or Jeanne Fangman.

Upcoming Events
FC & the Malcolm Baldridge Award, Darin Attaberry
Sep 19, 2018
 
Functional and Integrative Medicine Approaches
Sep 26, 2018
 
Jim Wilkins as former Governor Ralph Carr
Oct 03, 2018
 
3 Hopeful Hearts, Betsy Strafach
Oct 10, 2018
 
Photo Albums
08-18-2018 Peach Festival
08-08-2018 Regular Meeting
08-01-2018 Centennial Dinner
7-18-18 Meeting Photos
06-27-2018 Regular Meeting
6-20-18 Meeting Photos
2018-6-13 Meeting
May 30, 2018 Meeting
Meeting May 23, 2018
05-09-2018 Regular Meeting
05-02-2018 Regular Meeting
04-25-2018 Regular Meeting
03-28-2018 Regular Meeting
03-21-2018 After Hours Meeting
March 7, 2018 Meeting
02-28-2018 Meeting
02-14-2018 Meeting Photos
01-31-2018 Regular Meeting
Regular meeting 01-24-2018
1/10/2018 Meeting
1-3-2018 Meeting Photos
Wreath Building 12-4-2017
12-6-2017 Regular Program
12-13-17 Christmas Party
Bulletin Editor
Stacy Plemmons
Russell Hampton
National Awards Services Inc.
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