NATIONAL FOUNDATION FOR INDIA BALANCE SHEET AS AT 31st March 2015 MoonDult ./ Finance Manager Amitabh Behar Executive Director Deep Joshi Chairman PARTICULARS Schedule Amount in Rs. As at 31.03.2015 (Rs.) As at 31.03.2014 (Rs.) Corpus Fund: 1 287,359,963 8,691,657 296,051,620 287,359,963 Opening Balance 9,913,290 - 9,913,290 Deletions/Adjustments during the year 7,286 9,906,004 Depreciation during the year 1,029,119 8,876,885 9,913,290 Opening Balance 2,298,556 1,393,477 3,692,033 3,692,033 2,298,556 Capital Assets: Opening Balance 3,603,600 277,200 3,880,800 3,603,600 39,560 39,560 19,600 10,000 49,160 39,560 Amount accumulated during the year u/s 11(2) of the Income Tax Act, 1961 Opening Balance 3,722,000 Income and Expenditure 75,000 3,647,000 3.722,000 Opening Balance (9,839,691 ) 2,104,791 (7,734.900) (9,839,691 ) TOTAL 308,462,598 297,097,278 Fixed Assets (At Cost less Depreciation) 2 8,988,274 10,097,387 3 322,878,563 314,110,062 4 (23,404,239 (27,110,171 308,462,598 297,097,278 9 . y~ ~ ~~VVV' Place. New Deihl Date As per our report of even date For Thakur Vaidyanath Aiyar & Co. Chartered Accountants FRN-000038N ~.0,~ PUt Sapta Partner Membership No. 9169
14
Embed
NATIONAL FOUNDATION FOR INDIA y~NATIONAL FOUNDATION FOR INDIA BALANCE SHEET AS AT 31st March 2015 MoonDult ./ Finance Manager Amitabh Behar Executive Director Deep Joshi Chairman Amount
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
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
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
NATIONAL FOUNDATION FOR INDIA
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