Thanks to the generosity of our patrons and the blessings of the powers that guide all of us, SVRCC has been able to build itself into an agent of life transformation in local communities. It is a job well begun but it is still half done as the saying goes. As SVRCC looks to the future, it is faced with increasing challenges and obligations: the student intake has to be increased, skill levels taught have to reach global standards, and the SVRCC model has to be replicated more and more in order to truly channel the tremendous youth power of the nation.
SVRCC and the Sadguru Sri Gnanananda Seva Trust have now embarked on achieving these crucial objectives, but to make them come true, two important aspects have to be ensured: (1) sustainability and (2) scalability. Clearly the annual revenue account deficits cannot be managed as it is done now, by constant seeking of contributions. A lasting and viable alternative is needed. This would not only make the institution ‘self-sufficient’ but would help the Trust Board focus on the work of the college and on making the education innovative, highly skilled and in tune with the requirements of industry and employers.
To address this issue, the Trust Board has instituted the SVRCC Vidya Poshak Fund (SVPF), a fund that is targeted to be built over the next few years to generate revenues that can take care of the operating deficit every year.
The proposed targets of SVPF are:
- To get the total corpus to reach Rs 5 crore (Rs 50 million) in two phases:
- Reach Rs 3 crore (Rs 30 million) by Mar’18
- Reach Rs 5 crore (Rs 50 million) by Mar’20
- SVPF is managed by an exclusive Fund Management Committee and the revenue from collections will be wholly utilized to meet the operating expenses shortfall every year.
- The Committee is comprised of Trust Board members with outstanding records in finance as well as two senior finance professionals, one a banker and the other a veteran in the investment world.
- The main duties of the Fund Management Committee are:
- Monitor the management of funds and ensure safe and effective return
- Conduct quarterly audits of the accounts and operations of the Fund
- File quarterly and annual review reports with the patrons
- The Trust seeks from benefactors a minimum donation of Rs 1 Lakh which may be made in two instalments of Rs 50,000 each, or its equivalent in USD or Euro. At current rate of exchange, this works out to approximately USD 1,500 and Euro 1,400. Donations may be made individually or collectively as a family/group.
- Payments to SVPF can be remitted:
- By cheque/DD drawn in favour of “Sadguru Sri Gnanananda Seva Trust” near Pondicherry Institute of Medical Sciences, Kanaga Chetty Kulam, Puducherry, Via East Coast Road, Tamil Nadu 605 014
- By transfer of funds to the S/B Account No. 759469559, in the name of “Sadguru Sri Gnanananda Seva Trust”, with Indian Bank, Pondicherry University Branch, Puducherry using the IFS Code: IDIB000 P152
- The Trust is registered under Foreign Contribution (Regulation) Act (FCRA), and contributions in foreign currency can be accepted. The account details for foreign contributions are as follows: S/B Account No. 921113474, in the name of “Sadguru Sri Gnanananda Seva Trust”, with Indian Bank, Pondicherry University Branch, using the following SWIFT Code details: IDIBINBBPON
- Donations are eligible for tax exemption under the Sec. 80G of the Indian Income Tax Act 1961.
- Contributions will be acknowledged in the following ways:
- The donors shall be credited as a ‘Life Patron’ of the Trust.
- Regular news about happenings at the College and fresh initiatives will be shared with the donors.
- An annual meeting will be convened specially for the Life Patrons at the College to enable them see and share the joy of growth and development of the College.
We seek your enthusiastic participation in this exciting endeavour, with your contribution of Rs. 1 lakh and more. We also request you to speak about SVRCC Vidya Poshak Fund to your friends and acquaintances. Your word will carry a lot of conviction and can encourage like-minded people to come forward.