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  • Asha Austin Meeting Minutes - 21st November 2017

Contents

Date

Attendees

Discussion items

TimeItemWhoNotes
1 hrMathru FoundationArvind Rao
  • Discussed Q&A from previous meeting
  • Review of Mathru's Audit report showed 1.2 crores of donation income in 2016-17
    • Arvind asked Malathiji. This is a 1.3 crore FD as a reserve fund. This will be useful for future use. She has the building and plans to grow.
    • Phase 2 of the foundation was to get sustainable, generate reserve funds, have their own infrastructure, etc. Overall general reserves at 3.8 cr with WCR of 20.
    • Whole building construction is completed and children have moved in; further infrastructure developments after strength > 30
    • Phase 3 is to increase the number of beneficiaries, which will tap into the WCR and general reserves.
    • How does she get new kids ?
      • Every year, April & May she goes outside Bangalore and finds underprivileged kids
      • 2 floors with one floor dedicated for girl children, not yet in use
  • Review of Fund utilization for last 6 months
    • Hospital expenses are higher this time since this depends on when and who needs surgery/medical attention
    • Budget for staff salary is Rs.48k/month but the expense is Rs.38k/month
    • 6-month budget for 10 lacs, Asha's portion of 4 lacs, with recurring donations of 3.3 lacs, rest from reserves. Expense report shows 4.5 lacs for 6 months. Is it specific to Asha or whole? How were the recurring donations handled?
    • 2016-17 total expense for 12 children was ~ 12.7 lacs.
0 minProjects Review ProcessRangakrishnan SrinivasanDid not discuss (Next meeting)

Action items

  • For Arvind Rao on Mathru Foundation
    • General Questions :
      • Who is the donor : is it individual or institutional donor ? Good to know the success story behind getting the donation. 
      • How does she find children ? It would be good to hear about the stories on how she hears about the children and the process of bringing them in. 
      • Do they plan on publishing any annual reports or newsletters for their donors ? Is she is busy, does she plan to get someone for that ?
    • Questions on Fund utilization report : 
      • The Budget was 20 lakhs (approx). For 6 months, this would be 10 lakhs. We sent about 4 lakhs for first 6 months at 40% budget but she has used 4.5 lakhs. Is the utilization report specific to Asha or whole? 
      • Why is staff salary lower than budget ?
      • Hospital expense details : Did some children have surgery ?
      • Is the education expense paid once every year around June/July ?
  • For Mohit Sood
    • Set up Online Poll for Mathru once Arvind has provided answer to questions. 

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