The Rotary Foundation of Rotary International is a not-for-profit corporation that promotes world understanding and peace through international humanitarian, educational, and cultural exchange programs.

The Rotary Foundation is supported solely by voluntary contributions from Rotarians and others who share its vision of a better world. Contributions to the Foundation's Annual Programs Fund are invested for three years, with interest being used to cover all administrative costs. Fully 100 percent of every dollar donated supports program expenditures three years later. Gifts to the Foundation's Permanent Fund are invested, with only the earnings being used to support programs.

The Foundation was conceived as an endowment fund in 1917 "for the purpose of doing good in the world." Although The Rotary Foundation was formally established in 1928, significant contributions were not received until 1947, when the death of Rotary founder Paul Harris generated an outpouring of support. Since that time, more than US$991 million has been spent on Rotary Foundation programs.

All Rotary Foundation awards are initiated by local Rotary clubs and districts.