national foundation for india y~national foundation for india balance sheet as at 31st march 2015...

NATIONAL FOUNDATION FOR INDIA

BALANCE SHEET AS AT 31st March 2015

MoonDult ./

Finance Manager

Amitabh BeharExecutive Director

Deep JoshiChairman

PARTICULARS ScheduleAmount in Rs.As at 31.03.2015 (Rs.)As at 31.03.2014 (Rs.)SOURCES OF FUNDS Corpus Fund:

1Opening Balance

287,359,963Add: Receipts during the year

8,691,657296,051,620287,359,963

Assets FundOpening Balance

9,913,290Add: Additions during the year

-9,913,290Less:

Deletions/Adjustments during the year 7,2869,906,004Less:

Depreciation during the year 1,029,1198,876,8859,913,290

Provision For Gratuity FundOpening Balance

2,298,556Add: Provision made during the year

1,393,477

3,692,033Less: Payment during the year3,692,0332,298,556

Provision for depreciation on IHCCapital Assets: Opening Balance

3,603,600Add: Additions during the year

277,2003,880,8003,603,600

Staff Welfare Fund

39,560Less: Prior period adjustments 39,560Add: Additions during the year

19,600

Less: Disbursals during the year

10,00049,16039,560

Civil Society Development FundAmount accumulated during the yearu/s 11(2) of the Income Tax Act, 1961Opening Balance

3,722,000Less:Amount utilised as per Statement of

Income and Expenditure75,0003,647,0003.722,000

Excess of Income over Expenditure Opening Balance(9,839,691 )

Add: Surplus as per2,104,791(7,734.900)(9,839,691 )

Statement of Income and Expenditure TOTAL308,462,598297,097,278

APPLICA TlON OF FUNDS Fixed Assets (At Cost less Depreciation)

28,988,27410,097,387

Investments (At Cost)

3322,878,563314,110,062

Net Current Assets/(Liabilities)

4(23,404,239(27,110,171

TOTAL

308,462,598297,097,278

Significant Accounting Poliicies and Notes to Accounts

9

~JL.y~

~ ~~VVV'

Place. New Deihl

Date

As per our report of even dateFor Thakur Vaidyanath Aiyar & Co.Chartered AccountantsFRN-000038N

~.0,~PUt Sapta

Partner

Membership No. 9169

NATIONAL FOUNDATION FOR INDIACORPUS FUND

SCHEDULE -1

(Amount in Rupees)Additions to

S.No.

Corpus FundsOpening Balance

Corpus FundClosing Balance(01.04.2014)

during the year(31.03.2015)(2014-15)1

CS fellowhip FCRA 13,691,574-13,691,574

2CS fellowhip NFCRA 4,075,000-4,075,000

3Ford Foundation(2007)* 143,704,7098,666,657152,371,366

4General FCRA 112,578,730-112,578,730

5General NFCRA 13,309,95025,00013,334,950

Total287,359,9638,691,657296,051,620

* As per agreement with Ford Foundation, 70% of Interest income on Corpus Fund (Ford)has to be transferred to Corpus Fund.


STATEMENT OF INCOME AND EXPENDITURE

FOR THE YEAR ENDED 31st MARCH 2015

Particulars ScheduleCurrent Year (Rs.)Previous Year (Rs.)

INCOME Fund Raising-Donations

-72,250

Transfer from Grants: Programmes

576,299,24966,078,044Interest on Corpus Fund Investments

8,699,1979,007,474Income on Corpus Fund Investments

11,803,5671,939,112Income on Programme Fund Investments

2,727,7311,491,030Interest on SB Accounts

706,208426,814

Exchange Gain

10,709,924-Other Income

625,15445,922Civil Society Development Fund Utilised

75,0003,278,000Liabilities no longer required, written back

-1,100,550

Total(a) 111,046,03083,439,196

EXPENDITURE Programme expenses

795,791,83382573414

Operating Expenses

812,872,2067020950

Provision For Depreciation on IHC capital assets

277,200277,200of common facilities Total

(b) 108,941,23989,871,564

Surplus (a-b)

2,104,791(6,432,368)Less: Accumulation u/s 11(2) of Income Tax Act 1961 Balance amount carried to Balance Sheet

2,104,791(6,432,368)

TOTAL

111,046,03083,439,196Significant Accounting Policies and Notes to Accounts

9

Chairman

Place: New DelhiDate:

Amitabh BeharExecutive Director

As per our report of even dateFor Thakur Vaidyanath Aiyar & Co.Chartered Accountants

FRN-000038N !..II~ ~k.-.aJ f ~

KN. GuptaPartner

Membership No. 9169

~~Moon Dutt/"

Finance Manager


FIXED ASSETS (AT COST LESS DEPRECIATION)SCHEDULE-2

(Amount in Rupees)

As atAdditionsDeletionsl

TotalWritten DownWritten Down

SI.No.Particulars

Rate of01.04.2014during

adjustmentsTotal CostDepreciationDepreciationAdjustmentsDepreciation tillValue as atValue as at

Depreciation (%j (at cost)2014-15during 201431,03,2015till 31,03,2014for the year 31.03.15

31,03.201531,03.201415

1

Office Eauipments 15422,185 1,845420,340248,42625,934970273,390146,950173,759-

-

2Furniture & Fixtures 101,203,354-1,203,354864,80233,857 898,659304,695338,552

-

-

3EDP Eauipments 601,048,050 248,390799,660886,32593,188241,979737,53462,126161,725

-

, -4

Vehicles 15373,365--373,365243,11119,538 262,649110,716130,254-

-

5Office Building 1018,203,839--18,203,839 8,910,742929,310-9,840,0528,363,7879,293,097

Total

21,250,793-250,23521,000,55811,153,4061,101,827242,94912,012,2848,988,27410,097,387

ON ASSETS BOUGHT OUT OF INTERNAL RESOURCES


FIXED ASSETS (AT COST LESS DEPRECIATION)

SCHEDULE-2

(Amount in Rupees)



SI.No.Particulars



Depreciation (%) (at cost)2014-15during201431.03.2015till 31.03.2014for the year 31.03.15

31.03.201531.03.201415

1

Office Equipments 15136,865 -136,86548,96313,930.62,89373,97287,902-2

Furniture & Fixtures 10---- - -----3

EDP Equipments 60224,200 224,200128,00558,778-186,78337,41796,195-4

Vehicles 15---- --. ---. .5

Office Building 10---- --- ---

Total

361,065--361,065176,96872,708-249,676111,389184,097

FIXED ASSETS (AT COST LESS DEPRECIATION)ON ASSETS BOUGHT OUT OF PROGRAM FUNDS

(Amount in Rupees)



SI.No.Particulars



Depreciation (%) (at cost)2014-15during 201431.03.2015till 31.03.2014for the year 31.03.15

31.03.201531.03.201415

1

Office Equipments 15285,320-1,845283,475199,46312,004970210,49772,97885,857-2

Furniture & Fixtures .101,203,354--1,203,354 864,80233,857-898,659304,695338,552-3

EDP Equipments 60823,850-248,390575,460758,32034,410241,979550,75124,70965,530-4

Vehicles 15373,365--373,365243,11119,538-262,649110,716130,254-5

Office Buildinq 1018,203,839--18,203,839 8,910,742929,310-9,840,0528,363,7879,293,097

Total

20,889,728-250,23520,639,49310,976,4381,029,119242,94911,762,6088,876,8859,913,290

Grand Total 21,250,793 250,235 21,000,558 11,153,406 1,101,827 242,949 12,012,284 8,988,274 10,097,387


INVESTMENTS (AT COST)

A: FF Corpus Investments

SCHEDULE-3

ParticularsDate of maturity

Book Value as atNAVas atBook Value as atNAVas at

31.03.2015 (Rs.)

31.03.2015 (Rs.)31.03.2014 (Rs.)31.03.2014 (Rs.)

1) Ford Foundation Corpus Fund(2007)

a) Debt FundsTempleton India Short Term Plan

on demand26.359.00032,235,71226,200,00028,668.056

Blrla Sun Life Dynamic Bond Fund(G)

on demand13,700,00014,681,077

Blrla Sun Life Short Tenm Opp.Fund

on demand16,863,00019,374,33619,500,00020,571,674

ICICI Pru Corporate Bond Fund

on demand6,340,0007,847,8326,340,0006,983.649

ICICI Pru Short Tenm Planon demand13,947,17314,915,781

Sub Total49,562,00059,457,88079,687,17385,820,237

b) Fixed Deposits Mahindra &Mahindra Finance Services Ltd.

63,400,000.63,400,000

Dewan Housing Finance ltd.

30107/2019;30107/201775,000.00075,000,000

PNB housing Finance ltd.

23/081201824,717.22724,717,227

Sub Total99,717,22799,717,22763,400,00063,400,000

Total Investments (FF Corpus 2007) (A)

149,279,227159,175,107143,087,173149,220,237

B : Other Corpus Investments


Book Value as atNAVas at 31.03.2015Book Value as atNAVas at

31.03,2015 (Rs.)(Rs.)31,03.2014 (Rs.)31.03.2014 (Rs.)

a) Fixed Deposits Housing Development Finance Corpn

IDifferent dates I II41,500,000 I41,500,000 II

Sub TotalI II41,500,000 I41,500,000 Ic) NFl Own Funds(Debt Funds) Templeton India ST Income Plan (G)

on demand 6,100,0006,662,651

Templelon India Income Opp.Fund(G)

on demand18,000,00022,334.967

Templeton India Corporate Bond Opp.Fund

on demand4,280,0005,478,6674,280,0004,896.492

Mahindra & Mahindra Finance Ser,Ltd.

11,600,00011,600,000

IDFC SSIF-Medium Term(G)

on demand 375,000387,225

Birla Sunlife DynamiC Bond Fund

on demand3,000,0003,703,7059,100,0009,751,664

Blrla Sun Life Short Tenm Opp Fund

on demand7,200,0008,209,53611,400,00011,992,175

8111a Sun Life DIvidend Yield Plus

on demand424,624635,092424,624444,556

PNB Housing Finance Ltd -FO

28/08/201843,300,00043,300,00015,000,00015,000,000

IDFC DynamiC Bond Fund

on demand20,200,00020,416,754

DSP BR Income Opportunities Fund(G)

on demand10,000,00010,903,273

HDFC Corporate Debt Opportunities Fund

on demand13,700,00015,060,882

Lie Housing Finance Ltd.

20-Sep-1741,500,00041,500,000

ICICI Pru Regular Savings Fund(G)

on demand1,500,0001,805,959

ICICI Pru Short Term Plan

on demand3,600,0004,315,9513,600,0003,870,901

Sub Total

127,004,624133,107,106101,579,624109,163,344

Tolal Other Corpus Investments (8)

127,004,624133,107,106143,079,624150,663,344

C: Program Funds (Debt Funds)

ParticularsDate of maturily

Book Value as atNAVas at 31.03.2015Book Value as atNAVas al

31.03.2015 IRs.)IRs,)31.03.2014 (Rs.)31.03,2014 (Rs,)

Templeton Ind,a ST Income Plan (G)-Rockefeller

on demand9,000,00010,450,4355,000,0005,654,957

Templeton India Low Duration Fund(G)-Rockefeller

on demand 2,500,0002,752,107

Templeton India Ultra Short Bond Fund-Ford MCD

on demand2,094,6212,208,7772,296,8802,541,737

Reliance Regular Savings Fund (G)

on demand12,500,00012,835,627

Franklin India Low Duration fund(G)

on demand5,634,8925,979,375


on demand6,500,0006,956,189

HDFC High Interest Fund-ST(G)

on demand 1,000,0001,085,385

ICICI Pru Short Term Plan(G)

on demand 5,000,0005,414,068

Birla Sun Life Cash Manager (G)-Ford YIF

on demand 3,528,3783,862,240

Kotak Flexi Debt Plan A(G)-Ford Budget Work

on demand 8,618,0078,964,735

Total Program Funds (Debt) IC)

Total35,729,51338,430,40327,943,26530,275,229

0: Olher Funds


Book Value as atNAVas at 31.03.2015Book Value as atNAVas at

31.03.2015 (Rs.)(Rs.)31,03.2014 IRs.)31.03,2014 (Rs,)

Reliance Regular Savings Fund (G)

on demand3,450,0003,663,384


on demand6,650,0007,089,706

Life Insurance Corporation Gratuity Funds

on demand765,199765,199

Total Program Funds (Debt) (C)

Total10,865,19911,518,289

Totallnvestmenls (A, B C&D)

322,878,563342,230,905314,110,062330,158,810

* At Book Value


NET CURRENT ASSETS !(L1ABILITIES)

SCHEDULE-4

Particulars As at 31.03.2015 (Rs.)As at 31.03.2014 (Rs.)

Current Assets:

Cash on hand

24,5002,784

Balance in Savings Accounts with Scheduled Banks

26,488,6769,580,678

Stock-Publications

-213,376

Loans and Advances (unsecured, considered good): Staff Advances

386,190293,490

Other Advances193,488559,363

Prepaid expenses

244,197254,709

Amount receivable(ln Cash or Kind value to be received)

271,852692,004

TDS Recoverable

2,298,767963,045

Total (a)

29,907,67012,559,449

Less: Current Liabilities: Grants Payable

32,396,54210,038,994

Fellowships Payable

--

Leaves Encashment Liability1,510,0171,051,795

Unutilised Grants (Schedule 5)

18,071,40027,412,974

Tax Deducted at Source Payable

344,393289,644

Sundry Creditors

293,033313,219

Outstanding Liabilities For Expenses

696,524562,994

Total (b)

53,311,90939,669,620

Net Current Assets!( Liabilities) (a-b)

(23,404,239)(27,110,171)


GRANTS RECEIVED AND UTILISED AS AT 31st.MARCH 2015Schedule 5

Opening Balance asReceipts duringGrants as onGrant amount

Amount UtilisedAmount transferred to IClosing Balance asParticulars refunded/adjuste

on 01.04.2014 (Rs.)the year (Rs.)31.03.2015 (Rs.)

d IRs.)during the year (Rs.)& E a/c (Rs.)at 31.03.2015 (Rs.)

FORD Foundation· Budoel Work

6639.7436639743213.3766426367• Budael Work·Phase II

2294129722941 297 21,999,111 942186· Mmornv Concetrated Dlstncts PIlot EntItlement Centres

2.217.21610 5017778284 561 4,001,0044283.557· Youth InnovatIVe Fund

9496150949615011,272,8421,776,692

MacArthur -Youth Innovative Fund

3,167,0636,544,5249,711,587 5,441,9334,269,654

Rockerfeller- Strenothenina Social Justice Philanthropy

9,948,2844,108,00014,056,264 2,303,93411,752,330

Omidyar Network Fund

18,315,00018,315,000 18,894,110 579,110

Open Society Foundation

6,710,0606,710,060 157,5216,552,539

U NIC EF ·Works hoos/Fellowshios

64,26364,263 64,263

UNICEF·Media on Child Survival

200.000200000)

UNFPA-Dedinina Sex Ratio

435,1694,603,8905,039,059635,055,512 116,516

UN Women·BuildinQ Partnerships

27,128413,319440,447 2,550,406(2,109,959

Action Aid-People's Saare

50,000600,000550,000 550,000

Shamdasani Foundation-Education Pro-ect

425,005425,005 425,000 5

The Hindu

190,000190,000115,000 75,000

IJM

50,000575,000525,000 350,000175,000

World Vision

50,00050,000300,000 250,000

J·PAl

300,000(300,000

Wateraid

90,00090,000 90,000

Action Aid(Media Fellowship ProQram)

1160,000190,00030,000 290,000 260,000

Save The Children-Media Fellowship

07,59037,590 (37,590

Save The Chiidren·Global Advocacy Campaian-Child Survival Pro"ect

1,612,2001,612,200 1,879,500267,300Total

I27,412,97477,540,072104,953,0466376,299,249 10,582,33418,071,400


OTHER INCOME

SCHEDULE-6

Particulars Current Year (Rs.)Previous Year (Rs.)

Income from Books

-250

Interest on Staff Salary Advance/Loan20,15311,569

Interest on TDS refund

-31,234

Miscellenous Income5,0012,869

Total

25,15445,922

NATIONAL FOUNDATION FOR INDIAPROGRAMME EXPENSES

SCHEDUlE-7

Particulars Current Year (Rs.)Previous Year (Rs.)

(a)

Supported by Funding PartnersUNFPA·DeciininQ Sex Ratio

5,055,5123,147,507

UNFPA·Secreta·riat Setting up Cost422,873

.UN Women· Building Partnerships

2,550,4062,554,238

Development Journalism: (a) UNICEF Media on Child Survival

200,000·(b) Media Fellowships- Sponsored

1,355,0001,350,000

Action Aid-People's Saarc

550,000700,000

PLAN-Media Advocacy

-2,062,858

Save The Children-Global Advocacy CampaiQn1,879,500·

Open Society Foundation-BudQet Work157,521·

FORD-Citizen BudQet Analysis22,212,48736,447,458

FORD-Youth Innovative Fund

11,272,8426,182,980

FORD-Minority Concetrated Districts (Pilot Entitlement Centres)

4,001,0047,518,514

MacArthur-Youth Innovative Fund

5,441,9333,586,795

Rockerfeller- StrenQtheninQ SociaL Justice Philanthropy

2,303,9342,138,929

Omidyar Network Fund·BudQet Work

18,894,110-Shamdasani-Education

425,000350,000

ICCO-Sustainable Livlihood Project

-45,671

Subtotal (a)76,722,12266,084,950

(b) Funded by NFl Local Governance2,800,1863,203,434

Communitv Health950,0001,185,819

Community Health-DCSR331,686·

Development Journalism:(a) Grants

1,808,300

(b)Media Fellowship Expenses1,141,3141,721,835

CS Fellowships

2,132,4992,061,562

Citizens & Society (Leadership & Voluntarism)

3,073,6921,550,435Livelihood

2,747,7282,420,667Peace & Justice

2,123,1881,975,215

Education Project1,961,1182,369,497

Subtotal (b)

19,069,71116,488,464

Total (a+b)

95,791,83382,573,414


OPERATING EXPENSES

SCHEDULE-8

Particulars Current YearlRs~Previous Year IRs.lSalaries & Allowances

14,407,78912,240,102Leave Travel Concession

188,446163,571Staff Medical Reimbursement

439,532311,674Staff Telephone Reimbursements

164,877162,462Driver's Uniform

3,2504,130Staff Gratuitv

1,393,477227,620Staff Welfare

207,200214,122TravellinQ and Local Conveyance

183,727149,267Telephone & Internet

180,893200,350PrintinQ & Stationery

290,702263,780Repairs & Maintenance

1.315,271815,353Insurance

144,452123,110Leaal & Professional Charoes

281,294399,702Audit Fees

168,540175,000

Meeting Expenses16,99616,747

Books & Periodicals42,44149,919

Misc. Expenses106,964159,239

Office Vehicle Expenses52,12979,943

PostaQe/Cou rierlT eleQram122,87234,946

Bank Charoes20,3269,291

Electricity Expenses169,553153,562

Membership Fees84,27056,180

Municipal Taxes191,326191,326

NFl-Capacity BuildinQ237,29132,475

Depreciation72,70878,430

Overheads Josh Office60,000

Staff Recruitment Expenses4,50029,513

Amounts written off127,590104,054

Admin.cost PF98,779125863

Less: Overheads recovery from Proaramme Grants(7,904,989(9,550,781

TOTAL12,872,2067,020,950

Schedule 9

Accounting Policies and Notes to Accounts

lA' Accounting Policies:

1. The financial statements have been prepared on historical cost basis as a"going concern".

2. Income and expenses are accounted for on accrual basis following generallyaccepted accounting principles and practices prevalent in India and accountingstandards issued by the Institute of Chartered Accountants of India, whereverapplicable, except where otherwise stated.

3. (a) Grants to the extent utilized for revenue purposes are taken to income.

(b) Donations are accounted for on receipt basis.

4. (a) Fixed assets are stated at cost. Fixed Assets acquired' out of Grantsreceived are charged to Programme Expenses and simultaneously debitedto Fixed Asset Account by credit to the Asset Fund Account for keepingphysical and financial control over them.

(b) Fixed Assets costing less than Rs. 1,000 each are not capitalized andthose having WDV of less than Rs. 1,000 each being written off. However,such items are shown in Fixed Assets Register for control purposes.

(c) Depreciation is provided on Fixed Assets from the year 2003-04 based onW.oV. as per income tax rates.

5. Investments are stated at cost. Wherever there has been a temporary loss atthe year end on accourt of diminution in value of certain investments, noprovision has been made in the accounts if there is an overall appreciation andthe said loss has been made good after the balance sheet date.

Appreciation in the value of investments is recognized in the year in whichsuch investments are realized / matured / reinvested.

6. Income on investments relating to specific grants where significant and/ordirected by the Donor Agency, is accounted for as an accretion to therespective grant(s).

7. G~ants received in Foreign Currency are recorded at the exchange rateprevalent on the date of credit of Grant amount to the Bank Account.

8. Programme expenses (except fellowships and sponsored programmes) areaccounted for on the basis of commitments made by the foundation to the subgrantees.

9. Employee's Benefits

(a) NFl is making contribution to the Provident Fund on voluntarybasis with Regional Provident Fund Commissioner w.e.f. 01st

August 2012.

(b) Provision for gratuity liability has been made as per the provisions ofPayment of Gratuity Act, 1972.

(c) Provision for leave encashment liability has been made as per NFlrules.

'B' Notes to Accounts:1. Assets Fund represents acquisition of fixed assets out of Grants received by

the Foundation, less depreciation/deletions during the year.

2. In respect of property (office building) acquired at New Delhi, documentsconfirming title of ownership have still not been executed. It has been statedthat the matter is under consideration of Land & Development Office of theGovernment of India.

3. A provision of Rs. 2.77 lacs has been made during the year (cumulative total:Rs. 38.80 lacs up to 31.03.2015) as per IHC requirements. This amount hasbeen kept in a separate fund for depreciation of capital assets of commonfacilities provided by IHC, on a pro-rata basis according to the space allotted tothe National Foundation for India. However, as per the letter dated July 20,2011, IHC has not debited the intended amount on its institutional membersaccount and there is no liability of NFl on that account till date in IHC books.Liability, if any, in this regard will be provided for in the year in which suchdemands are received / finalized.

4. Programme expenses include amount of grants sanctioned, travel, staff costs,wherever appticabl~, workshops and seminars and other expenses relatingthereto.

5. Grants payable represents commitments made by the Foundation to subgrantees for utilization of grant amounts for program(s).

6. Exchange gain represents difference between the budgeted exchange rateand actual realization rate of US $ into INR.

7. Legal & Professional Charges include payment to auditors of Rs. 88,500/(Previous year Rs. 83,000/-)

For Income Tax Matters - Rs. 16,500/- plus service tax (Previous year Rs.15,000/-)

For Certification Work - Rs. 22,000/-plus service tax (Previous year Rs.20,000/-)

For Interim Audit - RS.50,000 (Previous Year Rs. 48,000/-)

8. Previous year's figures are regrouped and recast wherever considerednecessary, to make them comparable with the current year's figures.

Moon~~ ~~=h~ D~O~Finance Manger Executive Director Chairman

Place : New DelhiDate

national foundation for india y~national foundation for india balance sheet as at 31st march 2015...

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