Fund Raising
The fund raising efforts are
directly led by key members of the
Board of Trustees and the Management
Team, most of whom reside in the
Middle East. Diya encourages all its
donors to dedicate their act of
kindness to a person or a cause that
is close to their heart (for
example, to their parent, child,
role model, home town, etc.) and
provides them with feedback on the
difference being made by their
donations. This builds an affinity
that goes beyond just financial
support; the donors are able to feel
and witness the impact being made by
their donations. All donors are
issued a formal acknowledgement
receipts by the finance function.
Fund
Administration
Funds are maintained in designated
bank accounts. Endowment money is
invested under a conservative policy
to primarily preserve capital and to
generate income. All funds
designated for specific purposes are
ring fenced and applied
appropriately. Authority matrix
ensures that all disbursement are
authorized as per the defined
guidelines.
Scholarship Award
Scholarships are awarded directly to
most deserving students as well as
through approved schools, colleges
and institutions that are on the
panel of Diya. A rigorous screening
and evaluation process of all
applications ensures that the funds
are being used for the right purpose
and in an effective manner.
Applicants are required to provide
comprehensive details on the
financial profile, family background
and their academic record. The
information provided are attested by
relevant authorities (for example,
School Principal or District
Counselor). Further verifications
are obtained in the form of phone
interviews, reference, or a site
visit by Diya staff. Full record of
all applications and correspondence
is maintained.
Many scholarships are for a modest
amount thus mitigating the risk of
misuse. Other awards follow a
co-sponsorship policy whereby
students are encouraged to meet part
of their expenses through their own
financial means.
All scholarship awards are finalized
through a consultative process
involving members of the Management
Team and representative of the Board
of Trustees.
Fund
Disbursement
Fund disbursement is made through
bank transfer or money order, and
acknowledgement receipts are
obtained from the beneficiaries.
Beneficiary Feedback and Evaluation
Annual field surveys, direct
correspondence with the
beneficiaries as well as with their
patrons and institutions, and actual
field visits are carried out to
assess the impact made by our
donors’ funds. The feedback is
formally documented and analyzed,
and the results shared with our
donors.
Donor
Reporting and Communication
Donors are kept informed of the
performance through periodic
communication directly with the
trustees, as well as through
Progress Updates throughout the
year.
|
