Rolex non profit charity status

[Ck8]

Is it true that Rolex is a non profit charity company? If it is true what do they do in the way of charity? We hear many Rolex sponsored sport events but I have not heard of any charity operated or supported by Rolex?

[JUSTROLEXES]

Like any other non profit... after what's left from all the expenses yes a portion goes to charaties...and you can find that at the Rolex website and you can see the foundations that they support, and since it's not a public company it is very hard to determine that by $$$

[Tools]

Rolex is NOT a non-profit charity.....

Rolex SA (not Rolex USA, a wholly owned subsidiary) is a Foundation..

Foundations have a charter that they operate by, and they have percentages of income spelled out that they obligate that income to... Most Foundations plow their "profit" back into the company to continue along it's charter.

They have many charities that they donate to..as well as funding watchmaker schools, Alzheimers Research, and the many many events.

They are just not a publicly funded or traded Company..... they are a Private Foundation that marches to their own internal requirements...

[neillfrith]

I believe that one of the founders (forgot who) left a lot of his shares to their charitable foundation which basically means that a percentage of their profit will always go to charity. However, Rolex themselves are not a charity

Found this after I posted in Wikipedia:

Upon the death of his wife in 1944, Wilsdorf established the Hans Wilsdorf Foundation in which he left all of his Rolex shares, making sure that some of the company's income would go to charity. The company is still owned by a private trust and shares are not traded on any stock exchange.

[HL65]

Again--Am I allowed to write off all of my watch purchases as charitable deductions? Please advise.

[neillfrith]

Originally Posted by SteelerFan1965

Again--Am I allowed to write off all of my watch purchases as charitable deductions? Please advise.

I am a registered charity so if you want to donate them to me then yes you can write them off

[chrislkb]

Thanks LArry

Originally Posted by Tools

Rolex is NOT a non-profit charity.....

Rolex SA (not Rolex USA, a wholly owned subsidiary) is a Foundation..

Foundations have a charter that they operate by, and they have percentages of income spelled out that they obligate that income to... Most Foundations plow their "profit" back into the company to continue along it's charter.

They have many charities that they donate to..as well as funding watchmaker schools, Alzheimers Research, and the many many events.

They are just not a publicly funded or traded Company..... they are a Private Foundation that marches to their own internal requirements...

[Wink]

I recently posted about Rolex cultural sponsorships in Paris. The Societe Rolex has made generous gifts to museums around the French capital.

Wink