Financial Sustainability Ideas for Today and Tomorrow JLC_20101April 3 rd, 2010 Prem Jain LRP/JAINA...
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Transcript of Financial Sustainability Ideas for Today and Tomorrow JLC_20101April 3 rd, 2010 Prem Jain LRP/JAINA...
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Financial SustainabilityIdeas for Today and Tomorrow
JLC_2010 1April 3rd, 2010
Prem JainLRP/JAINA
April 3rd, 2010
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JAINA’s Vision
Preserve, Practice and Promote Jain Way of Life in North America
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JAINA’s Goals/Objectives To promote religious and educational activities
related to Jain religion and to promote study and understanding of Jain religion on a non-sectarian basis.
To assist existing Jain Associations and promote the formation of new non-sectarian Jain Associations throughout North America.
To provide and promote academic and cultural interchanges and cooperation among Jains in North America, India and other countries.
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JAINA’s Goals/Objectives To assist and to promote charitable community
service activities in North America, India and other countries.
To promote tenets of Jain religion. To assist in the establishment of Jain temples and
Ashrams. To establish liaison with governmental and other
agencies in pursuance of the above objectives.
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Today’s Situation (JAINA) JAINA is a non-profit religious umbrella organizations serving
more than 65 Jain organizations JAINA is providing service to more than 30,000 families
(+130,000 people) Current source of Income (1.75M+ every two years)
Membership dues, general donation, special project donation (like calendars, JAINA education books etc…), income from JAINA conventions, JAINA Patrons, YJA, YJP and advertisements
From 2005 to 2008 (4 years) JAINA’s income and expenses were about 4.4M/4.5M
JAINA on average spends during JAINA convention year 1.5M and YJA convention year about 750K ……on average JAINA committee’s income and expenses are about 300K/Year JAINA Committees are able to raise funds and spend the money on their own
priority projects…..
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Today’s Situation (JAINA) Indirect Expenses
What we sometimes call "administrative" or "overhead" costs, for example, costs to run the office, telephone bills, printing, mailing, etc… .
Today JAINA does not have sufficient funds for indirect expense…it collects 3% overhead from projects
Direct ExpensesDirect costs are those that fund resources which directly produce services to
clients, for example JAINA education books, Calendar, etc…Today’s biggest project JAINA has undertaken is “JAINA convention
every two years” (1M+) …..Total so far (7M+) since 1981 Usually, the lower your indirect expenses, the more it looks like your
resources are going directly to services…..best practice is not to exceed 3% indirect expenses
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Today’s Situation (All Jain Orgs) Temple/Bhawan & Siddhachalam (Jain Tirth) Projects (70M+) in last 15 years
Starting from 20M+ to…..1M dollar projects Large Jain Center’s income /expense per year : (300K- 1M)/ (200K….800K) Medium size Center’s budget from 50K-250K/Year Small centers budget …..5K to 50K/Year Other misc projects including money to India…….1M/Year
Jain Community in North America is supporting small/medium/big projects
Majority of this money is coming from individual donors Current Temple projects had major impact on local community
Daily puja, weekly/monthly/annual programs, pathsalal, interfaith/regional conference etc….
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Take Jain Community in NA to Next Level…Dream Big/Medium Size Projects
Jain Education Institution (high school/undergraduate/graduate/research)
Jain Theme Park (Yoga/Meditation/Art/3-D display)Jain Radio/TV/Serial/MoviesJain HospitalsBird/Animal Sanctuary/HospitalEducational audio/video/documentary/trainingNon-Violence centers (practice/promote concept of Non-
violence in all aspects of life including Corp America)Jain Yoga/Mediation centersAnd so on…so on….so on….
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How Do We Get There? Need one (agreed) vision Do a strategy planning and identify projects with feasibility study and
endorsements from Jain community Fund Raising works well with projects JAINA must allocate budget for strategic projects Separate JAINA charity structure and Make JAINA full religious
organization serving Jain community including existing organizations Need a professional executive office and a executive director with
authority and responsibility to be defined in the constitution Create JAINA Foundation and Foundation board and invite
philanthropist & fund raising professionals
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How Do We Get There? Funding Sources Annual Giving (Individuals)
direct mail telemarketing membership special events donor clubs capital campaigns
Planned Giving (Individuals) endowments bequests
Foundations private public
Corporations grants contracts in‑kind
Government local state federal
Bonds pooled issue pooled pension private offerings
Social Lenders community loan banks insurance co
Enterprise fee‑for‑services pilots unrelated joint ventures investments
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Executive Office….Serving Jain community Infrastructure: Office, Executive Director and Admin
Executive Director Fund raising with support of hundreds of volunteers Project management for 4 key strategic projects Develop marketing and implementation plans. Partnership with other faith based, animal rights, and related
organizations. Budget for 4 key strategic projects
First year: 150K Second year: 200K Third year: 250K
EO: Managed by LRP for first two years and go in production
FUNDRAISING STRATEGY: CORE DONORS 10K/YEAR FOR 3 YEARS (15,20,25)
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Next Steps: Develop Financial Self-Sufficiency
Manage your organization well Maintain a diversified funding plan Build additional corporate structures and
perpetual funding opportunities Operate with an entrepreneurial philosophy
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Recommendation
Recommend one or more of the strategies Summarize the results if things go as
proposed What to do next Identify action items
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