In 1917, twelve years after the founding of Rotary International, the organization established an endowment fund, subsequently named the Rotary Foundation, to support its international philanthropic efforts to improve health, alleviate hunger and enhance human and social development. Rotary Foundation's Annual Fund provides support for Rotary's humanitarian and educational programs. The Foundation's Permanent Fund serves as an endowment, guaranteeing the Foundation's work toward international understanding and peace will continue in perpetuity.

In 1957, the 40th anniversary of the establishment of the Rotary Foundation, Rotary International established the Paul Harris Fellow Recognition. Named in memory of Rotary's founder, the Paul Harris Fellow designation is accorded to Rotarians and non-Rotarians who have contributed at least $1,000 to the Rotary Foundation. The $1,000 gift may be a single gift of $1,000 or more or a combination of smaller gifts given over many years. In many cases, contributions to complete a Paul Harris Fellowship are made by the Fellow's family and/or friends as a gift or honor. Paul Harris Fellows are recognized by the presentation of a medallion, lapel pin and certificate.

Since the Paul Harris Fellow program was established, members of the Urbana Rotary Club have contributed more than a quarter million dollars in support of Rotary International's worldwide mission.