It is week six of our fundraising campaign and we've reached only 50% of our goal! Thank you to all those who've contributed so far. Your support is especially crucial as it motivates others to pitch in as well.
When you think of donating to any non-profit, you like to think that most of your money is going towards its stated goal. However, one of the important factors to look for is what is called the 'Overhead Ratio'. The overhead ratio commonly refers to a non-profit organization’s expenses that is devoted to administrative costs and fundraising costs as a percentage of overall expenses. The average overhead ratio for most US non-profits is about 40%, and ratios as high as 65-75% are not unheard of. A quick breakdown of Hamsadhwani's 2015 financial statements (published online) reveal the following:
Balance at beginning of year = $775
Contributions received = $10471
Artist fees = $5951
Food expenses = $178
Operation expenses = $106
Insurance expenses = $182
Hall rent = $2943
Youth festival & thematic concert expenses = $672
Travel expenses - artiste = $912
Staff/Volunteer Compensation = $0
Administrative expenses = $0
Fundraising expenses = $0
Net balance at end of year = $302
Can you believe that the overhead ratio for Hamsadhwani is 0%? Yes, you read that right! This means that 100% of your contributions go towards supporting the cause - to encourage up and coming artistes, to provide exposure to students, and to benefit the general public interested in Carnatic music. How is this possible? It is simply because of the volunteers who donate their time and effort. From those who setup the stage, organize food, cleanup after events, manage the sound, to those who organize fundraising, write blogs, prepare financial statements, etc., every single small-to-big activity is performed by volunteers. We do it for the love of music, culture and tradition. We do it for the benefit of the community. We do it for our children.
You can make a real difference to encourage our volunteers. Pitch in with your support today! Donations can be made online or via postal mail too!
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