Donations can be made via:
Post Office (Suisse): CCP 17-753012-7
Bank (Suisse) UBS Geneva
IBAN (int): CH68 0024 0240 4399 3140 D
Or Contact: Ted Talbot + 41 22 3610401 treasurer@friends-of-india.net
(Donations may be tax deductible)
Financial Report For the year ended 31 December, 2007
Financial statements
This year we continue to present the Receipts and Payments account in a format that lets you clearly see the receipts for general funds and those either 100% or partially earmarked for specific projects.
Funds raised
Over the twelve months under review, we raised a record total of 255’771 CHF compared to 210’775 CHF in 2006 and 156’444 CHF in 2005. A wonderful result with increased giving for earmarked, partially earmarked and particularly – as a result of our gala dinner and sales of goods – for general funds, enabling us to expand the number of schools and homes we support. The level of general funds was a concern to us in 2006 and thanks to the fantastic work of our gala committee and fund raising events team – 50’000 CHF raised - , we have been able to confidently expand our strategic plans thru 2010. Special fund raising events will become a feature in the coming years!
Project Highlights
A great deal of our effort in 2007 was orientated towards completing the Anbumalar II project in conjunction with the Don du Choeur and the Multi-purpose training facility in Arni – both of which are now fully or partially functional. Together with our continued support of the SUEB, TNF and Kovolam based partners, we made donations to 23 different projects in 2007 all within our strategic mission of education, training and income generation for women. We are trying to focus more and more on capital projects and less on running costs; a trend which will continue through 2008 and future years as we seek to obtain support from locally based Indian companies and individuals and create the environment for self-sustainability.
Administration and General Reserves
In 2007 we again covered our direct administration costs from subscriptions but it must be noted that many generous individuals travel at their own cost, provide services for free and put meeting rooms at our disposal.
Overall, our reserves stand at 40’000 CHF at the end of December 2007. Of this sum, we have distributed 20’000 CHF to projects and are retaining 20’000 CHF as a reserve for emergencies or special needs.
The way ahead
Encouraged by your continued support and goaded by a strategic review of our modus operandum paid for by a generous supporter, we have taken several strategic financial decisions. All costs – including travel must be booked – even if matched by a donation; some projects must contain a travel and support cost line; support of salaries and running costs must be limited to three years on a reducing basis for all new and existing projects; emphasis must be on capital projects with local support. We have prepared and agreed a project support budget for 2008 and targets thru 2010 which we will share with you at the information evening.
Ted Talbot – Treasurer. March 2008
Financial Report for the year ended 31 December, 2006
Read the financial statement [.pdf]
Financial statements
This year we have presented the Receipts and Payments account in a slightly different format so that you can clearly see the receipts for general funds and those either 100% or partially earmarked for specific projects.
Funds raised
Over the twelve months under review, we raised a total of 210’775 CHF compared to 156’444 CHF in 2005 and 61’000 CHF in 2004. This was a truly fantastic result.
It should be noted, however, that this year, of the total raised, 63% (132’831 CHF) were funds given for specific projects and a further 25% (53’576 CHF) earmarked for projects where FOI also contributed (23’232 CHF).
In 2006 only 24’367 CHF of non-earmarked funds were raised towards meeting FOI’s ongoing annual commitments to the SUEB and other ongoing projects which totalled 42’622 CHF. The result was that we had a shortfall in general funding of over 18’000 CHF which had to come from reserves.
In 2007, while still encouraging donations to specific projects, we will be looking at ways to raise our general, un-earmarked receipts.
Project Highlights
We made donations to 23 different projects in 2006 compared to 13 in 2005. Major project payments related to the Fishermen’s Trust project funded by the Chaîne de Bonheur; a multi-purpose school in Arni funded by J-P Cuoni, and many other projects funded by generous donors as detailed on the financial statements.
We are delighted that Friends of India has become the ‘charity of choice’ of several associations such as Brits in Business and that our KK4K and Give a Cow initiatives are still very popular as recipients of charity events, Christmas presents etc.
Administration and General Reserves
In 2006 we again covered our administration costs from subscriptions thanks to many generous individuals providing services for free and putting office space at our disposal.
Overall, however, we incurred a deficit of 14’593 CHF reducing our reserves at the end of the year to 14’389 CHF.
