NGO Insights: Rosary Trust

Dated : 12 Dec 2013
  1. Sector and Positioning:

Rosary Trust is an acronym for Rehabilitation Of the Socially Afflicted, the Retarded and the Youth. Established in 1997, the Trust strives towards welfare of economically weaker sections of the Society. The beneficiaries mostly belong to Dalit families and earn their living by working as coolies.

The Trust has been running a Shelter for aged for last fifteen years. The elderly are provided with food, clothing and medicine. Destitute women and widows are trained by the Trust and provided with employment opportunities to earn a living. The Trust supports underprivileged children with free coaching and educational material. The Trust also provides free medical facilities to the local population. A Shelter for the blind and handicapped is run in rented premises by the Trust and the inmates are provided with shelter, food, clothing and employment opportunities.

  1. Financial Parameters:
  • Income: Posted an income of Rs1.61mn in FY13. Individual donations including support from GiveIndia continue to be the only source of donations in FY13.
  • Expenses: Expenses totalled to Rs1.69mn in FY13. 81% (Rs1.3mn) of total expenses was incurred on Programmes. Overheads accounted for 12% of total expenses. (Refer Fig 1).
  • Overheads: Overheads have increased from Rs0.3mn (18%) in FY12 to Rs0.4mn (24%) in FY13 on account of rent expenses for the Shelter.
  • Fixed Assets: Fixed Assets accounted for 79% (Rs1mn) of total assets. Immovable assets (land and building) account for the majority (97%) of fixed assets as the Trust runs a Shelter.

 

  1. Sustainability Parameters:
  • Deficit:  The Trust witnessed deficit in FY13 to the tune of Rs74,000. However, adequate funds set aside in General funds, were utilised to adjust the deficit. The deficit is on account of decline in income growth to Rs1.6mn in FY13 as against Rs2mn in FY12.
  • Trust Corpus: The Trust has received funds worth Rs0.16mn from Give India for Corpus and the same has been invested in Mutual Funds and FDs.
  • Funds utilisation: Though the funds received are insufficient, there is 100% funds utilisation indicating effective utilisation of funds received.
  1. Major Challenges:

The Trust is facing shortage of funds as a result of which it is unable to accommodate more people suffering from old age and other disorders.

  1. Governance & Reporting Standards:

The founder Fr.Iruthayaraj Thusnevish, has completed M.A. in Sociology and religious studies, B.Ph. in Philosophy, and B.Th. in Theology. The Board comprises of five to seven members and meets thrice a year. No sitting fees or travelling fees are paid to the Board members. Rosary Trust is listed with GiveIndia. The Trust is also a member of Credibility Alliance but has not interacted with the agency since past two years.

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