Financial Management

Financial resources are vital to achieve organizational aims and objectives. Without financial support, nothing can be achieved, from the most basic necessities to the most essential. For twenty years, Lha has been working for the development and welfare of society. Over the course of time, it has had to overcome many obstacles to achieve its present financial position. Lha’s successful projects and services have come from various factors, one of the main ones being financial expenditure. The organization’s economic policy is to not be extravagant, lavish, and to be conscientiously and not wasteful. Lha has been consistently working to become self-reliant and self-sustaining. The administrative cost is self-sufficient, but certain projects still seek the support of dedicated and generous donors.

Financial Managemen 01
 
In 2005, Lha Charitable Trust was officially registered. Since then, Lha’s financial accounts have been audited annually by a government approved chartered accountant and all tax return certificates are issued by the Income Tax Department from the Government of India.
Reports on the economic status of Lha are current and accessible on the official website. The yearly accounts are also been printed in Contact magazine and on the official Facebook page. In addition, Lha sends detailed reports to relief agencies after successful completion of our projects. This financial transparency has helped to build a good relationship with relief organizations. In order to be self-sufficient and sustainable in meeting our administrative expenditure and providing our daily social services, such as language and computer classes, Lha organizes student exchange groups and accommodates volunteers at Ahimsa House to generate revenue.

Financial Managemen 02

So, to keep up with the growing needs of the community and to maintain the operations of other social services and special projects (The Community Soup Kitchen, Contact magazine, Clean Water, Clear Vision, Tibetan Smiles Dental Care, Environmental Initiatives, HIV/AIDs awareness, etc), we must continue to rely on generous donations and sponsors.
 
Between 2006 and 2016, our total income was $762,048.18 and total expenditure $743,403.90, from which amount $368,589.69 was spent on projects and $367,572.28 covered administrative costs. Our remaining assets stand at $716,764.41
We are always open to new projects and events in accordance with the community’s needs and to continue to support it, we must have financial backing.
 
Read {hits}516{/hits} times

 

Leave your comment