msss fund raising march – april 2007
TRANSCRIPT
![Page 2: MSSS Fund Raising March – April 2007](https://reader036.vdocuments.site/reader036/viewer/2022062421/56649f555503460f94c7905a/html5/thumbnails/2.jpg)
Need / Initial Assumptions
1. Down payment, (Approx $112,000+ available)
2. Regular Monthly / Annual Income
3. Loan Surety, (Up to individual limits)
![Page 3: MSSS Fund Raising March – April 2007](https://reader036.vdocuments.site/reader036/viewer/2022062421/56649f555503460f94c7905a/html5/thumbnails/3.jpg)
Our Task / Mission• To fulfill the dream of having our own Physical
identify in the Greater Memphis Area• To bring subjectivity to the process
– Folks are not starting the gurdwara– Folks don’t listen to me– No one hears our opinion– Only set folks make the decision
![Page 4: MSSS Fund Raising March – April 2007](https://reader036.vdocuments.site/reader036/viewer/2022062421/56649f555503460f94c7905a/html5/thumbnails/4.jpg)
Target Audience• Sikh Sangat members from Greater Memphis, Jackson,
Dyersburg, TN• Sikh Sangat members from Tupelo, MS• Sikh Sangat members from Jonesboro, AR• Punjabi Community members from Greater Memphis• Sindhi Community from Greater Memphis• Indian Community at large from Greater Memphis• Sikh Sangat and Gurdwara contacts from other states
![Page 5: MSSS Fund Raising March – April 2007](https://reader036.vdocuments.site/reader036/viewer/2022062421/56649f555503460f94c7905a/html5/thumbnails/5.jpg)
Method
• To have a One-on-One contact– Explain the reason of fund raising– Questions regarding gurdwara build process– Feedback (if any)
![Page 6: MSSS Fund Raising March – April 2007](https://reader036.vdocuments.site/reader036/viewer/2022062421/56649f555503460f94c7905a/html5/thumbnails/6.jpg)
What has been done
• Contacted – Sikh Sangat members from
Greater Memphis, Jackson, Dyersburg, TN
– Sikh Sangat members from Tupelo, MS
– Sikh Sangat members from Jonesboro, AR
– Sikh gurdwara contact from Jackson, MS
– Punjabi Cultural President, Chicago, Mohinderjit Singh Saini from
– Bulk Petroleum President, Darshan Singh Dhaliwal
• Not-Contacted or In- Complete– Punjabi members from Greater
Memphis (in-complete)– Sindhi Community from Greater
Memphis (in-complete)– Indian Community at large from
Greater Memphis (in-complete)
![Page 7: MSSS Fund Raising March – April 2007](https://reader036.vdocuments.site/reader036/viewer/2022062421/56649f555503460f94c7905a/html5/thumbnails/7.jpg)
Other Forms of Contact
• Web Site• Email• Targeted Mailing (Partially Complete)
![Page 8: MSSS Fund Raising March – April 2007](https://reader036.vdocuments.site/reader036/viewer/2022062421/56649f555503460f94c7905a/html5/thumbnails/8.jpg)
Mount Moriah $400,000 $500,000 $600,000
Principal & Interest $0 $3,472 $4,340 $5,207Rate of Interest 8.5%
Amortization (20 Years)
Taxes $0 $0 $0 $0Insurance (Annually) $700 $1,200 $1,200 $1,200
Fixed ExpensesRent (750+475) $1,225 $0 $0 $0
Wages & Compensation 1200 $1,500 $1,500 $1,500Incidentals $200 $250 $350 $500
MLGW $166 $600 $600 $600Insurance $58.33 $100 $100 $100Cleaning $50 $50 $50
Telephone $50 $50 $50
Monthly Total $2,849 $2,550 $2,650 $2,800
Grand Total (Monthly + Loan Payment) $2,849 $6,022 $6,990 $8,007
Difference from Current (Monthly)
-$3,173 -$4,141 -$5,158
Annual Amounts $34,192 $72,264 $83,880 $96,084
Loan Amount
Monthly Break-Up
Fund Raising Scorecard
![Page 9: MSSS Fund Raising March – April 2007](https://reader036.vdocuments.site/reader036/viewer/2022062421/56649f555503460f94c7905a/html5/thumbnails/9.jpg)
Our Result (In a Nutshell)
• Annual Pledges :- $49,560
23% increase from 2006 number of $40,000
• Annual Surety :- $321,000
No surety in 2006
![Page 10: MSSS Fund Raising March – April 2007](https://reader036.vdocuments.site/reader036/viewer/2022062421/56649f555503460f94c7905a/html5/thumbnails/10.jpg)
Donor Profile
• Trustees Nominated :- 2 new
• Surety Donors• $100,000 and above 1• $50,000 and above 1• $20,000 and above 1• $15,000 and above 1• $10,000 and above 12• $5,000 and above 3
![Page 11: MSSS Fund Raising March – April 2007](https://reader036.vdocuments.site/reader036/viewer/2022062421/56649f555503460f94c7905a/html5/thumbnails/11.jpg)
Validating Surety
Surety PercentageMonthly Mortgage for
$400,000 @3472 - 750 =$2722Annual
Commitment$100,000 31.15% $847.98 $833$50,000 15.58% $423.99 $167$20,000 6.23% $169.60 $200$15,000 4.67% $127.20 $167$10,000 3.12% $84.80 $200$10,000 3.12% $84.80 $101$10,000 3.12% $84.80 $101$10,000 3.12% $84.80 $101$10,000 3.12% $84.80 $83$10,000 3.12% $84.80 $0$10,000 3.12% $84.80 $0$10,000 3.12% $84.80 $0$10,000 3.12% $84.80 $0$10,000 3.12% $84.80 $0$10,000 3.12% $84.80 $0$10,000 3.12% $84.80 $0$6,000 1.87% $50.88 $51$5,000 1.56% $42.40 $200$5,000 1.56% $42.40 $101
$321,000 100.00% $2,722.00
![Page 12: MSSS Fund Raising March – April 2007](https://reader036.vdocuments.site/reader036/viewer/2022062421/56649f555503460f94c7905a/html5/thumbnails/12.jpg)
Our Affordability
• $321,000 (Surety) + $110,000 (Bank) = $431,000
• 10% Positive Variance• Gupt Daan• Other Community members Not Contacted
• Range ($431,000 - $470,000)Range ($431,000 - $470,000)
![Page 13: MSSS Fund Raising March – April 2007](https://reader036.vdocuments.site/reader036/viewer/2022062421/56649f555503460f94c7905a/html5/thumbnails/13.jpg)
Bank Loan Affordability
![Page 14: MSSS Fund Raising March – April 2007](https://reader036.vdocuments.site/reader036/viewer/2022062421/56649f555503460f94c7905a/html5/thumbnails/14.jpg)
Gurdwara Financials
2003 2004 2005 2006
In-Flows $141,850 $93,451 $98,426 $55,720
Out-Flows $142,875 $64,055 $38,081 $46,610
Last 4 Years
![Page 15: MSSS Fund Raising March – April 2007](https://reader036.vdocuments.site/reader036/viewer/2022062421/56649f555503460f94c7905a/html5/thumbnails/15.jpg)
Bank Points
• Resolution from Not-For-Profit Board Meeting
• Nominate a person or two to sign on the loan
• Bank will underwrite the loan as a SBA loan
![Page 16: MSSS Fund Raising March – April 2007](https://reader036.vdocuments.site/reader036/viewer/2022062421/56649f555503460f94c7905a/html5/thumbnails/16.jpg)
Feedback
![Page 17: MSSS Fund Raising March – April 2007](https://reader036.vdocuments.site/reader036/viewer/2022062421/56649f555503460f94c7905a/html5/thumbnails/17.jpg)
Feedback Received1 Distribute receipts books to sangat members
2 Quarterly Statements need to be posted on gurdwara
3 Baisakhi and keep events on the same day (as possible)
4 Keep the time back to 10.30am
5 MSSS needs to have By Laws
6 Rehat Maryada needs to be paid attention
7 Get input from everyone on major Sikh events during the year ( Gurpurab, Baisakhi)
8Need s suggestion box, Not everyone is comfortable giving suggestion in open (reason being
conflict)
9 Mail letters
10 Create a ideal Sikh establishment to attract more folks to consider Memphis as their base
11 Have a membership requirements to MSSS
12 Try to raise funds from other sources like SGPC
13 Nominate a person for major areas of fund raising, Chicago, Dallas, etc
14 Have a raffle for fund raising, Painting, Ticket, Trip, etc.
![Page 18: MSSS Fund Raising March – April 2007](https://reader036.vdocuments.site/reader036/viewer/2022062421/56649f555503460f94c7905a/html5/thumbnails/18.jpg)
Question
![Page 19: MSSS Fund Raising March – April 2007](https://reader036.vdocuments.site/reader036/viewer/2022062421/56649f555503460f94c7905a/html5/thumbnails/19.jpg)
Explaining Surety
• What is a Surety ? It is personal commitment to loan over a certain period of time if the Gurdwara defaults
• Examples from New Jersey gurdwara and Oakbrook, IL. gurdwara
• Gives a Gut Feel reality check how much we can stretch ourselves
• Gives individual sangat members a say in the gurdwara