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Magic Bus India Foundation

Sector: Children
Sub Sector: Services
Tax Deduction: 50% u/s 80G of The Income Tax Act, 1961
FCRA:

UN Sustainable Development Goal:
NGO Logo

% Spent on Beneficiaries

86%
HelpYourNGO USP: Our Research Team studies the NGO's financials to arrive at ratios, variances and the % spent on beneficiaries. This % is the proportion of direct program expenses to total expenditure for the latest financial year, indicating the total direct spend on beneficiaries.

Year of Establishment : 2001
Registered Address : 3rd Floor, Reliable Plaza, Thane Belapur Road, Airoli, Navi Mumbai 400708 , Maharashtra
Presence : Andhra Pradesh, Assam, Bihar, Chandigarh, Delhi, Gujarat, Haryana, Himachal Pradesh, Jammu and Kashmir, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Mizoram, Orissa, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, West Bengal
Website : https://www.magicbus.org
Email : info@magicbusindia.org
Telephone : +91 022 62434848
Donor Contact : Ms. Preeti Dhingra / preeti@magicbusindia.org
Registered Under : The Companies Act, 1956
Auditor : BSR & Associates LLP
Bankers : ICICI Bank, HSBC Bank, HDFC Bank, Axis Bank, ING Vyasya Bank
Trustees/Directors/Managing Committee: : Mr. Deval Sanghavi, Mr. Rajiv Dube, Ms. Shaneen Parikh, Mr. Sandeep Murthy, Mr. Jaideep Khanna, Mr. Jayant Rastogi

Magic Bus India Foundation has been working with young people, living in poverty, taking them from a childhood full of challenges to a life with meaningful livelihoods impacting youth in the age group of 12 to 24 years by equipping them with the skills and knowledge they need to grow up and move out of poverty, and take control of their future.

Major Interventions:

Adolescent Programme: The NGO work with adolescents for their holistic development helping them to overcome hurdles and equip them to complete secondary education. Life skills are taught in a way they understand through the activity-based curriculum. It also focuses on Education Enhancement to improve their basic literacy and numeracy. Magic Bus works with multiple stakeholders from an adolescent’s ecosystem to build network of support and uplift their community.

Livelihood Programme: The objective is to enhance the employability of youth by imparting life skills and connecting them to sustainable livelihood opportunities in white and grey-collar sectors. The youth are provided with sector-specific training and job placements. Post-placement support are also provided in the form of mentoring and handholding through regular follow-ups as job retention is a key challenge for youth from underserved communities. Sectors including Retail, BFSI, ITeS, Logistics and QSR are supported.

Youth Skill Programmes: The aim is to improve financial literacy, digital literacy and spoken English. The NGO provides youth with mentoring, career awareness and interview preparation to get them ready for the world of formal employment.

  • Blended Skilling: It is an innovative approach built for imparting life and employability skills to youth from underserved communities by leveraging technology consisting of in-person life skills and digital literacy sessions and virtual spoken English classes, with a collaborative and peer-learning approach.
  • Get Into Programme: works with young people who are ‘work-ready’ but do not have the relevant professional skills or experience to enable them to move into the formal labour market. Each programme is sector-specific and is designed together with employer partners in order to meet the skills gap they experience.
  • Skill Impact Bond: The National Skill Development Corpora􀆟on (NSDC) launched the Skill Impact Bond (SIB) in 2022 and Magic Bus was selected one of the first NGOs and implementation partners. A first in India in the skilling space, this programme model will drive innovations in programme interventions and performance management systems. It will identify capable models in solving the challenges in the skilling ecosystem and bring a focus on aligning various outcomes.
FY 2020 (₹) FY 2021 (₹) FY 2022 (₹)
Income
Government Sources - - -
Foreign Sources 575,250,335 407,070,929 231,488,515
Institutional Sources - - -
General Donations 382,104,062 539,528,055 874,166,485
Sales/Fees - - -
Interest/Dividend 8,721,422 14,855,330 -
Other Income 479,186 229,502 19,412,000
Total Income (A) 966,555,005 961,683,816 1,125,067,000
 
Expenditure
Direct Program Activities 184,405,822 162,654,898 906,069,000
Program Staff Cost 434,358,313 404,090,136 -
Travel Expenses 63,826,818 27,239,070 -
Direct Program Expenses 618,764,135 566,745,034 906,069,000
Fund Raising Expenses 86,926 397,964 -
General Staff Cost 67,456,103 69,055,593 -
Overhead Expenses 161,733,768 158,909,979 106,024,000
Depreciation 44,234,611 32,718,892 41,337,000
Other Expenses/Transfers - - -
Total Expenditure (B) 956,102,361 855,066,532 1,053,430,000
 
Surplus / Deficit (A-B) 10,452,644 106,617,284 71,637,000
Assets
Fixed Assets 94,423,885 98,263,204 146,334,000
Current Assets 72,628,989 67,926,803 129,712,000
Cash And Bank 382,725,860 575,588,967 472,486,000
Total Current Assets 549,778,734 741,778,974 748,532,000
Investments 122,044,734 - -
Accumulated Deficits - - -
Total Assets 671,823,468 741,778,974 748,532,000
 
Liabilities
Trust Corpus 2,000 2,000 2,000
General Funds 21,307,742 127,925,027 242,301,000
Earmarked Funds 42,738,181 42,738,181 35,986,000
Unutilized Grants 10,944,791 - -
Total 74,992,714 170,665,208 278,289,000
Loans - - -
Loans (From Members) - - -
Current Liabilities 596,830,754 571,113,766 470,243,000
Other Liabilities - - -
Total Liabilities 671,823,468 741,778,974 748,532,000
1) Donations include donations in kind.
2) Other income includes profit on sale of mutual fund.
3) Direct Programme Activities include administrative expenses pertaining to programmes.
4) There are overall amounts spent on programmes, but not a detailed breakdown- FY22.
5) Other expenses includes foreign exchange loss, prior period items, loss on sale of assets, amounts written off, and provision for doubtful advances.
FY 2020 FY 2021 FY 2022
Beneficiary Details
Direct Beneficiaries (nos.) - - -
Indirect Beneficiaries (nos.) - - -
Average Cost per Direct Beneficiary (₹) - - -
Staff Details
No. of Staff - - -
Number of Consultants - - -
Number Of Volunteers - - -
Total - - -
Highest Paid Full-Time Staff (₹ p.a.) - - -
Lowest Paid Full-Time Staff (₹ p.a.) - - -
Services Funds Raised (₹)
2,000
Donation 3,000
Total Funds Raised 5,000
NGO Name Sector Sub Sector Location % Spent on Beneficiaries Income (₹) Expense (₹)
Grace Peter Charitable Trust Children Services Tamil Nadu 94 647,790 659,846
arr4
Udayan Care Children Comprehensive Delhi 89 234,173,621 234,608,000
arr2
Magic Bus India Foundation Children Services Maharashtra 86 1,125,067,000 1,053,430,000
Vathsalya Charitable Trust Children Child Care/Balwadi/Creche Karnataka 82 11,534,617 12,747,852
Annamitra Foundation (Formerly known as ISKCON Food Relief Foundation) Children Nutrition Maharashtra 73 447,797,532 462,334,334
arr3
Family Service Centre Children Adoption Maharashtra 67 8,855,533 7,095,463


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