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Ck8 · 24 March 2010, 06:56 AM

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 · 24 March 2010, 07:23 AM

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 · 24 March 2010, 12:52 PM

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 · 24 March 2010, 09:46 PM

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 · 24 March 2010, 09:52 PM

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

neillfrith · 24 March 2010, 09:59 PM

Quote:

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 · 25 March 2010, 01:20 AM

Thanks LArry

Quote:

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 · 25 March 2010, 04:32 AM

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

Wink

24 March 2010, 06:56 AM	#1
Ck8 "TRF" Member Join Date: Feb 2007 Real Name: Mark 哥 Location: UK Posts: 860	Rolex non profit charity status 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?

24 March 2010, 07:23 AM	#2
JUSTROLEXES ⭐⭐⭐⭐⭐ 2024 SubLV41 Sponsor & Boutique Seller Join Date: Jul 2009 Real Name: Tony Geha Location: San Diego, CA Watch: Yacht-Master Posts: 51,120	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 $$$ __________________ Instagram @JustRolexes 2FA security active

24 March 2010, 12:52 PM	#3
Tools TRF Moderator & 2024 SubLV41 Patron Join Date: May 2007 Real Name: Larry Location: Mojave Desert Watch: GMT's Posts: 43,514	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... __________________ (Chill ... It's just a watch Forum.....) NAWCC Member

24 March 2010, 09:52 PM	#5
HL65 TRF Moderator & 2024 SubLV41 Patron Join Date: Dec 2007 Real Name: Ken Location: SW Florida Watch: One on my wrist. Posts: 64,008	Again--Am I allowed to write off all of my watch purchases as charitable deductions? Please advise. __________________ *SPEM SUCCESSUS ALIT*

24 March 2010, 09:46 PM	#4
neillfrith "TRF" Member Join Date: May 2009 Location: UK Posts: 219	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.

25 March 2010, 04:32 AM	#8
Wink Member Join Date: Apr 2009 Location: South Carolina Posts: 84	I recently posted about Rolex cultural sponsorships in Paris. The Societe Rolex has made generous gifts to museums around the French capital. Wink

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