Padakshep annual report 2010
Padakshep is also supporting Subhadip, Sanjay and Shibsankar. They are currently studying for their higher secondary. Know more about them on our website: www.padakshep.org
Rachna Tiwari designed the logo of Padakshep
There were several logos designed by Rachna for Padakshep. After long discussions, we chose the above logo as the final one. We are thankful to Rachna for such a nice effort.
Padakshep has been recognized by Guidestar, another 501 (c)(3) non-profit which provides information service specializing on US non-profit companies.
How it all started? Who are we?
Padakshep was started by a bunch of young graduate students and post-doctoral researchers at the University of Utah and a young engineer at Conoco-Phillips. Very soon, many others from several universities around the world joined Padakshep. These young minds have one dream in common which is to give back to their homeland. Being involved in academia, working in the education sector was an obvious choice.
How do we operate?
Padakshep is a start-up non-profit. Although the idea of Padakshep was conceived in 2008, Padakshep was incorporated in the state of Utah and was granted the status of a tax-exempt public charity by the internal revenue service (IRS) in 2009.
We support the underprivileged students from West Bengal, India whose dreams are barred by their extreme economic hardship. We carefully and thoroughly verify their eligibility before we start supporting them. We are certain that without our help they would have chosen to drop out from schools. Visit our website to know more about “how we work” at http://www.padakshep.org/FAQs.html
IRS determination, what it means
The Internal revenue service (IRS) is the revenue service of the United States Federal Government. IRS determines if the donations to a non-profit organization should be exempt from taxation. The agency designates a tax-exempt non-profit to be a public charity when it receives a substantial part of the donation from general public and its work benefits the general public. Padakshep was granted the status of a 501 (c)(3) tax-exempt organization and a 509 (a)(2) public charity by IRS.
IRS determination qualifies Padakshep to receive 100% tax-deductible donations, gifts and transfers. We have also received charitable solicitation permit from the department of consumer protection, Utah which enables us to solicit donations from the general public.
Pulak Gandhi was one of the first beneficiaries of Padakshep. He studied at Ramakrishna Mission, Asansol and then moved to Ramakrishna Mission Narendrapur for his higher secondary studies in 2008. Following a news in the newspaper, he was contacted by Padakshep. Over the next two years he studied hard, fought against all the economic hardships and finally made his way to Jadavpur University’s department of electronics and telecommunication engineering. He is doing great and we wish him success in his studies and career. Padakshep is proud of him.
Tapas Sen: an encouraging news for Padakshep
Tapas Sen is very passionate about his goals in life. Dr. Abirlal Sanyal, a Padakshep volunteer, talked to him regularly, and he says Tapas will do well. Below is an excerpt from a letter to Abirlal written by Tapas. In the modern times of electronic mails, a sincere hand-written postcard is bound to inspire our volunteers to work harder. The letter shows how determined Tapas is. Visit here to know the updates of Tapas: https://sites.google.com/site/beneficiarytapas/
Padakshep currently supports seven students
Amit, Sujan and Tapas
•Although Amit is struggling with his studies, we are confident he will do well in the long run and overcome all the barriers caused by poverty.
•Sujan’s family struggles to earn enough to support his studies. However, this has only spurred Sujan to study harder. Padakshep is always with him.
•Tapas is probably the most aspiring student in his class. Sky is the limit for him. He wants to be a doctor and Padakshep is proud to be a partner in his journey.
Annual financial report
Padakshep is in its second year of operation. As a start-up non-profit Padakshep had to ensure a constant flow of revenue to sustain the projects.
For the convenience of our members we have provided with the revenue and expenditure charts which can give a quick idea how our finance is being managed. We have uploaded the annual financial report in details for the consideration of the general public. Please take a look at the file at: http://www.padakshep.org/Financials.html
85% of our annual revenue goes towards the tax-exempt purpose and the rest is used for the various services that we pay for.
We will require approx. $ 4000 more in the next two years to sustain and grow. We earnestly request you to donate generously to Padakshep and help us fulfill your aspirations of giving back to the society. We have kept our word and will continue to do so with your best wishes.
You can write a check, payable to “Padakshep” and send it to the following address:
Padakshep
921 Medical Plaza
Salt Lake City
UT 84112
USA
You can also donate to Padakshep online via the donate button on the left of this page or visit www.padakshep.org/Donate.html
Summary of the Annual financial report 2010
Padakshep updates the financial details regularly. Check back here periodically to remain updated about the financials of Padakshep. Below is the summary of the annual revenue of Padakshep. Evidently, our revenue increases in the months of april and may as we choose new beneficiaries during that time. However, we raise funds through out the year. Currently Padakshep has a balance of around $ 6000.
Padakshep’s annual expenditure in 2010 is summarized below. The expenditure on our tax-exempt purpose (category: scholarships disbursed) rose from 70% to 85% within 6 months. We expect to increase this expenditure to almost 90% this year. To achieve this goal we expect to raise enough funds to support more beneficiaries.
Please see the financial details on the top to know more in details.
Thanks to all our donors and volunteers from across the world.
We have been highly motivated by our donor members through out the last year. We are highly thankful to you all. We would also take this opportunity to thank some of our volunteers and advisors who have helped Padakshep grow. Spread the word !!!
Volunteers and advisors:
Jayeeta Bhaumik, Utpal Manna, Suhrit Ghosh, Ayan Datta, Sharmistha Sinha, Soudipta Chakraborty, Abirlal Sanyal, Tuhin Mukherjee, Nirveek De, Koushik Banerjee, Arnab Rudra (Cambridge), Manoj Mandal, Kamirul Islam, Koushik Paul and Dipankar Basak.
