At the 1917 Rotary Convention in Atlanta, it was proposed that an endowment be set up “for the purpose of doing good in the world.” In 1928, it was renamed The Rotary Foundation, and it became a distinct entity within Rotary International.
In 1929 the Foundation made its first gift of $500 to the International Society for Crippled Children. When Rotary founder Paul Harris died in 1947, contributions began pouring in to Rotary International, and the Paul Harris Memorial Fund was created to build the Foundation.
Since the first donation of $26.50 in 1917, the Foundation has received contributions totalling more than $1 billion.