Summary
Mugavari Foundation
 
Education
Hostel
Estd: 2011
Used for Beneficiaries: 92%
Address : 66/9, Amma Free Mahal, Kannagi Street, Kamarajapuram, Velachery, Chennai 600042. Tamil Nadu
Email :  mugavarifoundation@gmail.com
Web-site : www.mugavarifoundation.org
Telephone : +91 44 22551235; +91 9566150942
Donor Contact : Mr. K. Ramesh / +91 9840030942 / mugavariramesh@gmail.com
Financial Score
Rs, Y/E March 31
Income & Expenditure Statement201620172018
Income From
Government Sources000
Institutional Sources000
Foreign Sources000
Donations4,892,9836,123,0116,963,479
Sales/Fees000
Interest/Dividend1,0622,1601,461
Other Income000
Total Income (A)4,894,0456,125,1716,964,940
Expenses For
Direct Programme Activities4,673,9025,366,1626,823,771
Programme Staff Cost000
Travel Expenses42,24437,99349,259
Direct Programme Expenses4,716,1465,404,1556,873,030
Fund Raising Expenses01,7500
General Staff Cost039,000156,200
Overhead Expenses171,417430,394405,763
Depreciation1,63478,30932,948
Other Expenses/Transfer000
Total Expenditure (B)4,889,1975,953,6087,467,941
Surplus / (Deficit) (A-B)4,848171,564-503,001
Balance Sheet201620172018
Assets
Fixed Assets19,256140,338135,530
Current Assets (excl. Cash)050,00067,900
Cash/Bank 5,5376,01910,925
Investments000
Accumulated Deficits00306,645
Total Assets24,793196,357521,000
Liabilities
Corpus / Share Capital000
General Funds24,793196,357521,000
Earmarked Funds000
Loans000
Current Liabilities000
Total Liabilities24,793196,357521,000
Other Details201620172018
Direct Beneficiaries (Nos)N.A.N.A.N.A.
Indirect Beneficiaries (Nos)N.A.N.A.N.A.
Cost Per Direct Beneficiary (Rs)N.A.N.A.N.A.
Number of StaffN.A.N.A.N.A.
Highest Salary (Rs p.a.)N.A.N.A.N.A.
Lowest Salary (Rs p.a.)N.A.N.A.N.A.
Regd. under : The Indian Trust Act, 1882
Auditor : G. Ranganathan
Bankers : State Bank of India

Donor tax benefits : 80G 50%
Eligible for foreign donations : No

Trustees/Directors/Managing Committee:
Mr. K. Ramesh, Founder & Managing Trustee Mr. D. Sundaramoorthy, Trustee
Mr. R. Saravanan, Trustee Mr. D. Jaisankar, Trustee
Ms. Gowri Krishnamoorthi, Trustee Ms. Suseendra Balamurugan, Trustee
Ms. Sangeetha Mohanavel, Trustee Dr. Parimala Krishnamurthy, Trustee

Source : Audit Report 2018

Financial Note : 1) Program Staff Cost for FY15 onwards is not reported separately. We can assume that this component is included under Direct Program Activities. 2) Fund Raising Expense includes advertisement expense.

NGO Profile :
Mugavari Foundation was established to focus on helping deserving students from humble background to continue their pursuit for higher education in Chennai. They accomplish this by either taking care of all their needs or providing these students with partial scholarships.

During FY14 Mugavari Foundation accommodated 40 new students. Of these 30 joined professional courses and 10 students are preparing for civil services. Besides these, more than 100 existing student beneficiaries through Mugavari continue to get support. In addition to smaller donors, Mugavari continues to benefit from food and accommodation facilities from their long time patron, Mr. Duraisamy of the Manidhanaeyam Charitable Trust. As of today there are 232 students who have been taken care of by Mugavari with the help of more than 133 sponsors and 7 Vanavil Students.

Vanavil (Tamil for rainbow) is an Alumni programme through which ex-students students who have benefitted from the Mugavari Foundation are encouraged to give back. These students contribute 7% of their income to Mugavari to help fund for their education programme