1. STEWARDSHIP---all the way !
DTA
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
Stewardship includes a number of important components. These components are as follows:
Treating TRF funds as a sacred trust
Competent and thorough supervision of the project
Standard business practice
Reporting irregularity to TRF

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
When opening project accounts, the following guidelines should be followed:
Where feasible, separate accounts should be established for each grant. This helps to keep the funds for each project separated from other funds.
Grant payment should be made to a bank account opened specifically for the project.
The name of the project account should be such that it is easily identifiable with the club and the project.

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)
Please note that the first report is due twelve months after the paid date of the grant. Subsequent reports are due at least every twelve months from the date when the previous report was received at TRF. The final report is due within two months of the project’s completion.

14. REPORTING Celebrates success Provides transparency
Offers lessons learned
Improves DONOR relations
Improves Rotary’s charitable status ranking
We have discussed the importance of appropriate fundraising, proper use of grant funds and the importance of maintaining proper financial records. What does reporting accomplish?
Celebrates the successes of the project
Communicates project accomplishments to TRF
Demonstrates to donors the good use of TRF funds
Achieves transparency and judicious use of grant funds
Fulfills government requirements
Demonstrates lessons learned

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. to our ROTARY FOUNDATION for sound fiscal management.
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.
A donor who understands that funds were used in an appropriate and responsible manner is more likely to give to the Foundation again.

19. Your CHARITY NAVIGATOR ?

20. .
THANK YOU !