financial sustainability n.
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Financial Sustainability

Financial Sustainability

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Financial Sustainability

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  1. Financial Sustainability Prem Jain LRP/JAINA April 3rd, 2010 Ideas for Today and Tomorrow JLC_2010

  2. JAINA’s Vision Preserve, Practice and Promote Jain Way of Life in North America April 3rd, 2010 JLC_2010 2

  3. 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. 3 April 3rd, 2010 JLC_2010

  4. 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. April 3rd, 2010 JLC_2010 4

  5. Today’s Situation (JAINA) • JAINAis 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….. April 3rd, 2010 JLC_2010 5

  6. 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 Expenses Direct 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… practice is not to exceed 3% indirect expenses April 3rd, 2010 JLC_2010 6

  7. 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…. Aprild 3rd, 2010 JLC_2010 7

  8. 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/Movies Jain Hospitals Bird/Animal Sanctuary/Hospital Educational audio/video/documentary/training Non-Violence centers (practice/promote concept of Non-violence in all aspects of life including Corp America) Jain Yoga/Mediation centers And so on…so on….so on…. April 3rd, 2010 JLC_2010 8

  9. 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 April 3rd, 2010 JLC_2010 9

  10. 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 10 April 3rd, 2010 JLC_2010

  11. 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) April 3rd, 2010 JLC_2010 11

  12. 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 April 3rd, 2010 JLC_2010 12

  13. Recommendation • Recommend one or more of the strategies • Summarize the results if things go as proposed • What to do next • Identify action items April 3rd, 2010 JLC_2010 13