A Changeless SenseA Collective Change in People's Lives
The Foundation has been funding charitable institutions as well as individuals in distress to fulfil the above mentioned objectives. It believes in solid work without self-projection and publicity.
Donations during 2021-22
The donation to institutions and individual beneficiaries during 2021-22 amounted to Rs. 216.6 million, which constitute 66% of the total income. Programme delivery cost/ operational expenses (Rs. 30 million) stood at 9% whereas the admin expenses (Rs. 13.77 million) were 4% of the total income during the year.
Donations to Charitable Institutions
Applications are accepted from institutions providing charitable services in the fields of health, education and general welfare for financial assistance. The applicants are thoroughly investigated, and the identities of the trustees are carefully examined. The Foundation satisfies itself that the institution is providing benefit to the poor and indigent persons. The integrity of the trustees and sustainability of the project are given prime importance. The institutions should be registered legal entities under relevant laws governing NGOs/CBOs and must have a proven track record of charitable services. Their accounts must be regularly audited by a firm of reputable chartered accountants. Utilization of the donated funds is carefully monitored to ensure that the assistance provided by the Foundation is utilized for intended purpose.
Proportion of Assistance
Since inception in 1981 to 30th June 2022, the Foundation has donated around Rs.6,006 million to more than 421 institutions from all over the country. Category-wise proportion of donations to the institutions can be summarised as under:
|Medical||Rs. 90.1 million||Rs. 25 million||Rs. 76.65 million|
|*Educational||Rs. 132.43 million||Rs. 117.59 million||Rs. 123.43 million|
|General Welfare||Rs. 15.9 million||Rs. 6.65 million||Rs. 2.5 million|
|Total||Rs. 238.43 million||Rs. 149.24 million||Rs. 202.58 million|
Assistance to Individual Beneficiaries
In case of individuals who approach for assistance from the Foundation, their bona-fides are established by investigative visits. The Foundation provides financial support for medical treatment, education of school going children, subsistence allowance to widows or issue less women and contributes towards marriage expenses of their daughters. The individuals applying for financial assistance should fill in the form providing all the required information and submit copies of their Computerized National Identity Cards and other relevant documents as indicated in the form. From 1981 to 30th June 2022, the Foundation has provided financial assistance of around Rs.921.64 million to hundreds of individuals under this category.
Summary of Assistance
Summary of financial assistance extended by the Foundation to poor and deserving persons and writers, poets, scholars and performing artistes as well as their families during the financial year is as follows
|Medical||Rs. 3.98 million||Rs. 3.9 million||Rs. 6.09 million|
|Educational||Rs. 3.19 million||Rs. 2.88 million||Rs. 1.11 million|
|General Welfare||Rs. 8.31 million||Rs. 6.26 million||Rs. 6.82 million|
|Total||Rs. 15.48 million||Rs. 14.23 million||Rs. 14.02 million|
Furthermore, the Foundation extends financial assistance to highly meritorious students who cannot afford higher education as well as to needy individuals for achieving self-reliance. The financial assistance is in the form of an interest-free loan normally repayable over a period of 10 to 12 years. The repayment arrangement is agreed in each individual case. The loanee students are required to sign a loan repayment agreement and provide two guarantors. Summary of the interest-free-loans as on 30th June, 2022 is as shown