Some points discussed and clarified at a meeting by the
members/contributors of 1993 Madhyamik Batch of Ramkrishna Mission
Ashram Vidyalaya, Narendrapur at Bangalore on April 12, 2003.
Clause 1.0:
The fund commits to sponsor the tution fees of an economically needy student for his studies from Standard V till Standard X. Any part of that sum is strictly prohibited from being used in any other account, without prior approval from the trustees of that fund.
The choice of the student is strictly at the discretion of the school Ramkrishna Mission Vidyalaya. The school will have the sole rite to terminate the continuation of the student at school due to any disciplinary measure, which the school may feel appropriate, and hence the continuation of the fund for the remaining period may be revised with the trustees of the fund.
If a new student is admitted at the termination of the course of another student, the trustee is not committed for the expenses towards his entire six years of stay. But the trust do agrees to support the child for the remainder of the six years at hand for which it is committed.
Clause 2.0
The members here at this meeting do feel that there is a need for an independent account under a trust name and operable/ tractable by the members of the trust to avoid legal and IT related issues. Further
discussions on this issue is awaited with a legal advisor.
The a/c however, may not be feasible as far is monetary control is concerned by the members. once narendrapur creates the a/c, the members have no control over the a/c, like the collection amount, usage etc etc.
In that case, the members need to carry on in such manner like collecting the sum at one a/c. the responsibility must be shared by someone each year on a rotational basis.
A permanent solution, however, is needed for the further continuation of this fund in the future.
To solve the tax related problem, narendrapur will be asked to give individual reciept against each contributions once the details are given to them.
Clause 3.0
A particular amount of money will be given to the other needy sections of narendrapur. This year's beneficiary will be Blind Boys academy. the amount must be decided by the members;
Should we give the rest of the amount (the surplus amount after 16,000)to BB or only a particular amount? and then keep the rest as buffer for the future year? This is to be decided soon.
However, the donation for the other sections of narendrapur depends solely on the collection amount from next year onwards. Hence, the members wont commit on this contribution for future yet.