2015 - 2016 IACRF Accomplishments
including Financials
Dear Community Members:
We are pleased to present IACRF Accomplishments for 2015- 2016 here for your perusal.
Financial Accomplishments:
1. IACRF raised a total Income of $435,648.00 through BEMA operations in 2015. We had total expenses including Occupancy, Operations, Special Events and Payroll of about $286,504.00. We raised net funds totaling $149,144.00 in 2015 from Ekta Mandir operations, with great support from community.
2. In addition we raised net funds of $40,444 after expenses through the Community Center events and GOLF tournament in 2015.
3. Total funds raised from Temple, Golf and Non Temple activities added to $189,588.00. We are proud of every one who chaired the events and supported the team in making IACRF programs successful for the community.
4. From the total funds raised, we paid towards mortgage an amount of $36,562.00 and also returned personal loan of $10,500.00. We also paid about $44,500 towards interest on bank & personal loans. In total we paid about $91,561.00 to service the loan.
5. After servicing the loan we had total Net Funds Raised in our hands for 2015 of $98,027.00. An excellent job by the 2015-2016 IACRF Board of Directors and Trustees and the Community!
6. Since we want to reduce the loan as much as possible we also paid additional $96,000.00 to the Bank to further reduce the loan and increase the equity.
7. With all of the above great work we reduced the Mortgage loan by $132,568 and Personal Loan by $10500 during 2015. Current Loan as of December 2015 with WF is $851,973 and Personal Loan is $106,738 leaving IACRF with a Total Loan $958,711.00 versus the Total Assets of about Seven Million US Dollars.
(Audited reports will be available soon)
Couple of major accomplishments
we want to highlight from 2015-2016 are:
1. Strategic Plan Completed with inputs from BOD and BOT. We now have a master plan for the Community Center, Ekta Mandir and the North Side land!
2. All Major Programs including Bhagavat Katha, Balaji Kalyan, Janmashtami, Sravan Maas, Ganesh Chaturthi, Navratri/Dussehra, Diwali, Charity Walk, Kite Festival, India Festival, Maha Shivratri, Golf Tournament and Rama Navami were highly successful. Programs were enhanced & marketed to attract the community to the Foundation activities.
3. Special programs such as Visa Camp, Hasya Hungama, International Yoga Day, Music Concerts by Ramesh Narayan Ji, Jaydeep Swadia and others, Tribute to President Abdul Kalam, India Independence Day, Clay Ganesh making by Kids, visit by All Saints' Episcopal Day School students and teachers were well attended and supported by the community.
4. Served more than 3000 meals to homeless at St Vincent de Paul shelter in Phoenix. Thanks to Mohan Patel & Jalaram Bhajan group.
5. Raised $16000 for NPFY Charity thru 12th Annual Mahatma Gandhi Charity Walk. 170 attended.
6. Raised and donated $15000 towards Nepal Earthquake relief.
7. Supported Tamil Sangam, AZINDIA & Community for Chennai Flood Relief Fundraising efforts
8. Community Center provided FREE two days a year to 7 Sister Organizations as part of Community Liaison program.
9. Yoga, Arts, Music and Dance Classes and Seniors Group Management Functioning well
We thank Board of Directors, Board of Trustees, Life Members, IACRF Staff and the Community members for making 2015-2016 an outstanding and highly successful year.
We extend warm Welcome to new President Subhash Thathi and Board of Directors and Board of Trustees who will serve
to make 2016-2017 a great year!
Sincerely,
Jagdish Sagar - Chairman, Mina Patel - President 2015-2016
Indo-American Foundation of Arizona |