1 / 20

STEWARDSHIP---all the way !

STEWARDSHIP---all the way !. DTA 2016-17 TRIDENT HOTEL 27 th March 2016 By Harjit Singh Talwar Training Facilitator Designate. STEWARDSHIP. “The careful and responsible management of something entrusted in one’s care”. STEWARDSHIP in ROTARY ?. 1. CLUB accounts

barbaraclayton
Download Presentation

STEWARDSHIP---all the way !

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. STEWARDSHIP---all the way ! DTA 2016-17 TRIDENT HOTEL 27th March 2016 By Harjit Singh Talwar Training Facilitator Designate

  2. STEWARDSHIP “The careful and responsible management of something entrusted in one’s care”

  3. STEWARDSHIP in ROTARY ? • 1. CLUB accounts • 2. TRUST accounts • 3. TRF grant accounts • To be VIGILANT and handle money with great CAUTION, RESPONSIBILITY, INTEGRITY, HONESTY and TOTAL TRANSPARENCY

  4. Stewardship-ROTARY CLUB • BUDGET v/s EXPENSES • Contribute ourselves and then spend • All activities “FOR, BY and OF” Members

  5. Stewardship-Rotary Club • ACCOUNTS • Maintain separate account • Route all donations/sponsorships through the account- Debit & Credit • Regularly Inform memb on money spent • Audited Balance Sheet at end of RY

  6. Stewardship- Rotary Club • Timely Handing over books of account to incoming team • Smooth transfer and change of Signatories • Income Tax liability ? • ( “mutuality concept” - NO individual is directly benefitted ) • Filing of Income Tax Return ?

  7. Stewardship-ROTARY TRUST • Registered with the CHARITY COMMISSIONER • TRUST DEED – aims and objects and mode of management (min 2 trustees) • 80-G certification entitles donors to Tax Exemption

  8. Stewardship-ROTARY TRUST • INCOME -All money received from Public in form of Donations , Sponsorships, Advertisements fund raising etc • Expense- All money spent towards Service Projects • Expenses Directly from Trust account • Exempted from Income Tax subject to fulfillment of certain conditions

  9. TRUST – LEGAL OBGLIGATIONS • Maintain separate books of account • Conduct elections of Board of Trustees, Regular Board Meetings & AGM once a year • Trust accounts to be audited every year • Submit audited accounts with Change Reports to Charity Commissioner • Submit Income Tax return every year

  10. Stewardship - Healthy Practice • Take part Membership Dues DIRECTLY in the name of Trust( portion earmarked for service projects ) • AVOID INTER TRANSFER OF FUNDS FROM CLUB ACCOUNT TO TRUST ACCOUNT AND VICE VERSA

  11. Stewardship in TRF ??? • Treating TRF funds as a sacred trust • Competent and thorough supervision of project • Standard business practice • Reporting irregularity to TRF • Implementing projects as approved • Timely and complete reporting • 4 – Way Test

  12. Stewardship-TRF • ACCOUNTS • Separate accounts should be established for each grant • Payment should be made to a bank account opened specifically for the project • All payments should be made only by CHEQUE- NO CASH payments

  13. REPORTING • Interim report every 6 months till Project Completion • Final report is due within two months of the project’s completion • IN PRESCRIBED FORMAT • (Accomplishment, Rotarian Involvement, Income/Exp/Bank Statements, Beneficiaries)

  14. REPORTING • Celebrates success • Provides transparency • Offers lessons learned • Improves DONOR relations • Improves Rotary’s charitable status ranking

  15. Bank Funds • Security / Collateral / Mortgage • Personal guarantee • Reporting Monthly / Quarterly / Annual • Interest Cost • Pay back

  16. Concerns • Charging beneficiaries for project support • Individual charging fees to Club for help with project – no Rotarian should personally gain • Lack of Effective Communication

  17. Good News CHARITY NAVIGATOR – The premier charity evaluation service in the United States has awarded its highest rating of 4 STARS ( * * * *) to our ROTARY FOUNDATION for sound fiscal management.

  18. Your CHARITY NAVIGATOR ?

  19. . THANK YOU !

More Related