Contents

Date

Attendees

Goals

  • Update on GSK 
  • SoH & SAC updates

Discussion items

TimeItemWhoNotes
40 minGSK shortfall
  • GSK approached us recently saying they have an overall shortfall of 59 lakh rupees in their operational expenses
  • Global Budget & Financial status shows
    • 3.3 crores of initial budget
    • 1.5 crores of operational budget
    • Available funds from Vibha & WCT for Vistaar is around 48 lakh rupees.
    • Current shortfall for Vistaar is 12.5 lakh rupees.
    • Available funds from Asha Austin, Porticus & Yatra for school operation is 45.5 lakh rupees
    • Current shortfall for schools is 46.5 lakh rupees
    • They are requesting Asha Austin to fund 9.6 lakhs on top of 9.76 lakhs already approved by Asha Austin. This amount is for next 6 months.
    • Out of the 9.76 lakhs previous approved, we were going to send 8.2 lakhs due to 1.5 lakh carry over from previous year
    • First installment has been already sent.
    • Most of the line items requested now were also in the budget proposed earlier this year. Column N shows % of that budget. In all cases it is less than or equal to the amount earlier requested
  • Vibha will not be funding next year
  • Porticus and HT Parekh were limited term grants, which have expired.
  • WCT (Vistaar) and Yatra (Faria) will continue.
  • They requested a letter from us. I have asked them to send me a draft.
  • Documents available : 2017-18 Audit Report and 2017-18 Annual Report

  • For the past 6 months, they have been putting efforts to raise funds through both, institutional and individual donors.

    • Among the institutional donors, they have, so far, approached H. T. Parekh Foundation, Lupin Foundation, PVR-Nest, Bajaj-CSR, Chambal Fertilizers for the running cost of the programme. They have also approached Roundtable Association - Jaipur and ASED for getting infrastructural support. Currently, they are following up with H.T. Parekh Foundation, Lupin Foundation, PVR-Nest, Roundtable group and ASED.
    • They are also registered on Rajasthan CSR Portal which gives them some lead to tap middle-sized corporate located in Rajasthan. They are now contacting these potential donors for their support.
    • They are running online fund-raising campaigns on Ketto and Global Giving.
    • They have begun to reach out to individual donors including some high-networth individuals based in Sawai Madhopur and Jaipur. This will help them in getting long-term financial stability but the process will be taking some time in relationship building with the donors.
    • One of the AIF fellows, Avital Datskovsky, who earlier interned with them, is willing to volunteer supporting them in fund-raising. She will be joining them in the next week.
    • In order to strengthen their reporting process, they are also planning out a strategy to ensure regular sharing about the programme with their donors. They are also doing it with the help of regular Facebook posts (around 3 posts per week).
    • They are hoping that these efforts will help them in building a good donor-base which will provide a financial stability long term.
  • Based on current project expenses, we can disburse additional $13k. Since we have not sent funds to Mathru this year, we can ear-mark $5k in addition to $2.5k already earmarked from WAH fundraising. Hence, we can send the remaining $8k to GSK to cover 61% of their shortfall.
  • Can revisit again in Jan and see where they stand in terms of shortfall.
  • All present in the meeting were in favor of this idea.
  • Formal vote will be taken in the next meeting, where other updates will also be presented.
    

Action items

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