Hi All, There seems to be a bit confusion on the terminology of group funds and personal contributions :). Let me try to clarify the idea and how do that work.
1. *Group Fund* would consist of *membership fees* - as of now. *Monthly Contributions which can be used for any cause* will also be considered as group fund. 2. *Personal Contributions* are the *donations made for an individual case / specific purpose * which the donor is interested in. *How we financed till now:* 1. After deciding to support a cause members interested donate amount for that. 2. The amount collected from memberships were also used for such cases, if the pledged amount is less than the requirement. *Suggested Way in the Last MOM* 1. We will use a specific amount of the Memberships fees for supporting a education & medical case per month 2. And the remaining amount would be from the individual contributions for that case. If you see there is not much difference in the way we worked before and now. Its just that we have added a name to the type of contributions. *Why is it required to have such a setup?* 1. Limiting a specific amount from the group fund per case allows the group to be able to provide support to cases periodically rather than using up all the resources for a single case. 2. We are looking forward to go ahead on projects along with individual cases, so these projects might require sustained funds regularly so there is a need to have some funds available for the projects related activities. *Lets put down the numbers for Mothly Contributions as per last MOM: (just a rough estimate)* *From India: *if 50 members pay Rs 100/- per month - *Rs. 5,000/- per month* *US: *20 members pay $10/- per month and conversion at Rs. 40/- per $ - *Rs. 8,000/- per month* *Total Amount : Rs. 13,000/- per month* ** *Amount required to support the cases as per last MOM:* 20 Students @ Rs. 5,000/- per year *- Rs. 1,00,000/- per year* 1 Medical case @ Rs. 10,000 /- per month *- Rs 1,20,000/- per year* *Total Amount: Rs 2,20,000/- per year i.e. Rs 18,000/- per month (approx) + Amount for Projects* ** Even we try to do this we would require help from individual contributions to support the charted plan. We can check out the how this type of categorisation will help us grow. I see this as a better way of dealing funds. We can still refine the clauses (Need to utilise a fund unutilised on another person next month) that we had in the meetings, if we feel the clauses are not helping. At the end of the day we all are here to make a difference to how many ever we can. Regards Chaitanya
