Financial Report for Year Ending 31 December 2009 (May 2009, Annual General Meeting)

2009 was a transition year for Friends of India.  With the passing of Richard Walsh, it soon became apparent what an enormous amount he did in the accounting and follow-up area that went almost unnoticed until others had to assume this work.  His passing was therefore not only a great personal loss to Pam, but a major loss for the Friends of India organization as well.   As a result of this and the general financial recession, donations to Friends of India – particularly from foundations and companies – dropped in 2009.

In 2008 Friends of India referred to the difficulties in transitioning to the “High Road” and the need to invest into infrastructure to build capacity for growth.  Investment into this has been high – CHF 57,735 and Friends of India remains grateful to those who donated specifically to operational support so that it can still stand by its mantra of “100% of what you give, gets there.”

Getting the funds there is not always the issue. What is more important is making sure Friends of India is giving to the right people, for the right purpose and via the right implementing partner. In 2009 as Friends of India started implementing the strategy outlined at the 2008 Annual General Meeting:

• A more disciplined approach to project evaluation and monitoring
• Concentrating on a few communities to ensure measurable impact
• Involving the local ‘in country’ community in supporting its projects

Friends of India evaluated how its major partners were using its money and set up strict, formal project proposal submission and evaluation systems.  This took time and the short-term result has been that project expenditure slowed and Friends of India paid out only CHF 87,445 being some 42% of monies available.  Friends of India is now getting, however, good feedback from its Chennai office and some very exciting projects have been identified.  So far over CHF 85’000 has been transferred to projects in 2010 and there are commitments for a further CHF 150’000!  The project train is picking up steam; Friends of India desperately need funds and is in for a challenging year  – so please climb on board !

Past Financial Reports

Financial Report for Year Ending 31 December 2008 (June 2009, Annual General Meeting)

For the year ending December 31, 2008 we raised a total of 319,797 CHF compared to 255,771 CHF in 2007 and 210,775 CHF in 2006. These 2008 receipts include a generous, unrestricted donation which has made it possible for us to allocate part of this sum toward administrative costs for 2009. This wonderful donation has allowed Friends of India to increase capacity and professionalize operations through the addition of part-time staff support in Switzerland and India in 2009. 2008 receipts are also characterized by a proportional increase in the amount of general receipts against receipts earmarked for specific projects. This development allows Friends of India to be more strategic in planning its work. The dedicated work of our fundraising committee continues to bring in receipts from signature events such as the annual Gala Dinner, a musical evening and the sale of goods and as well as other events.

2008 Project Highlights

The year 2008 was Friends of India’s 10th year of providing grassroots education and training support to children and women in Tamil Nadu. One of the highlights of 2008 was the inauguration of a school for 75 mentally and physically handicapped children from the streets of Chennai, a project in partnership with the Don du Choeur. 2008 also marked the completion of the multi-purpose community and skills training centre at Arani. During 2008 the extension of the El Shaddai school also began. This project will allow the school to open its doors to an additional 6 classes serving children up to the age of 16 through the construction of a first floor with partitions over the church hall where the school currently operates.

2008 Administration and General Reserves

In 2008 Friends of India again covered direct administration costs through subscriptions and specific donations. With an overall accumulated fund for the period ending December 2008 of 100,895 CHF, Friends of India can respond effectively to the continued needs of local communities without interruption and is in an excellent position to further increase fundraising so as to deepen future support to some of the neediest communities in Tamil Nadu.

Next Steps

Friends of India is thrilled with the strong vote of confidence in its work as evidenced by continued support of its members and the generous donations that provide opportunities to needy children and women in Tamil Nadu. A strategy to expand its assistance to impoverished communities, along with the 2008 donation to support administration of its work, have allowed Friends of India to “take the high road.” We believe that increasing our capacity, efficiency and productivity through our new part-time staff will lead to more members, increased donations and more support to local communities. We will continue to work closely with our local partners to ensure that your money is being spent in the most efficient way with outcomes benefitting the neediest.