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Contents   2-8 Report of Board of Trustees   9 Auditors report   10-18 Audited

Contents

 

2-8

Report of Board of Trustees

 

9

Auditors report

 

10-18

Audited Financial statements

19-22

Notes to the Accounts & Significant Accounting policies

[Type text]

19-22 Notes to the Accounts & Significant Accounting policies [Type text] Audited Financial Statements 2011-12

Audited

Financial

Statements

19-22 Notes to the Accounts & Significant Accounting policies [Type text] Audited Financial Statements 2011-12

2011-12

19-22 Notes to the Accounts & Significant Accounting policies [Type text] Audited Financial Statements 2011-12
Report of Board of Trustees RangDe.Org 2011-12 The year 2011-12 began with an inspiring moment

Report of Board of Trustees RangDe.Org

2011-12

The year 2011-12 began with an inspiring moment for the entire nation. Our Men in Blue did us proud by bringing the World Cup home. Rang De’s fundraising received a big boost with the launch of our biggest online campaign - The Rang De world cup fever. Thus began our journey into the financial year.

Having successfully completed 2 financial years, we had put behind us the microfinance crisis with a strong resolve to support our field partners in every way possible. Rang De’s focus for 2011-12 has been to strengthen the foundation of the organization in all areas. Our learning from previous years has helped us in fine tuning the model. The organisation’s aim is to scale up the operations meaningfully and to strive hard to delight our social investors with their Rang De Experience. These are some of the changes the organisation has brought about in the last financial year:

Corporate Governance:

Rang De is governed by a formal board of trustees who oversee the operations of the organization and also support the management team. The Board of Trustees has been meeting periodically and is closely monitoring the organisation’s progress. The board meetings have been a great platform for setting the agenda and prioritizing focus areas for the management team. The details of trustees are as follows:

Name

Occupation

Area of

Meetings

competency

attended

Prof. P Sudarshan

Former distinguished Professor of Entrepreneurship at Great Lakes Institute of Management.

Entrepreneurship,

 

Finance,

 

Management

Member of the Board of Governors at Vittal Mallya Scientific Research Foundation (VMSRF)

2/2

President of IIM-Ahmedabad Alumni Association, Bangalore

Founder-President of TDICI-India's First Venture Capital Co(now ICICI ventures Ltd).

Mr. A Ramanathan

Former Chief General Manager of the Microcredit Innovations Department (MCID).

Microfinance,

 

Banking

1/2

Former Director of Management Studies at Sri Krishna college of Engineering & Technology, Coimbatore

Ms. Smita Ram

Co-Founder and Managing Trustee

Social

audits,

 

Governance

2/2

Rang De Advisory group:

Rang De Advisory group: There is a growing need for organizations like Rang De to be

There is a growing need for organizations like Rang De to be more effective and productive. One the many ways to achieve this is by broadening and strengthening the constitution of advisory group. The Rang De advisory group consists of business leaders who guide Rang De on various aspects ranging from operations and technology to marketing.

Resource Mobilisation:

With the world cup fever being a huge success, the organization was able to pull off a series of online and offline campaigns to create awareness, drive social investors and raise funds for the communities we work with. The world cup fever helped the organization raise Rs.10 Lakhs as social investments. Similarly the ‘Christmas Campaign’ helped in reaching out to social investors. A combination of creativity and dedication is required to mobilize funds and people for a cause. The grand finale in resource mobilization came with hosting ‘Robin Sharma’ for a leadership seminar in Bangalore. A fundraiser of this sort is perhaps a once in a life time opportunity for non-profits. It was Rang De’s privilege to host the bestselling author and leadership Guru. Rang De was able to bring more than 900 people across India for the event.

Audits & Review:

A sharp focus on audits and reviews of our field partners marked the year for the operations team. Regular audits and operational reviews of our field partners in addition to handholding them has helped the team identify only those field partners that have been doing excellent work and in helping them scale up their operations. The team now follows an internal calendar for audit of field partners. These audits cover not only financial records but also operations and processes being followed by the organisation. Recommendations are made to the field partners wherever required and compliance is monitored.

Transparency:

Since inception, Transparency has been one of the fundamental aspects for Rang De. Our efforts have been aimed at ensuring that this penetrates all the way to the end borrower. We have ensured that interest rates charged to the borrower have been published against every loan. Both the flat rates and the APR rates are displayed. Our field partners cannot charge any hidden charges and if there is good enough reason to charge a processing fee, the reason as well as the charges need to be disclosed by our field partners. The field partners are regularly audited and their operations reviewed. A summarized report of these audits will soon be available. Social investors and chapter members have also joined Rang De team. Social investors have independently visited field areas for borrower evaluations.

In addition to the updates on disbursals and repayments, we also send a statement of

In addition to the updates on disbursals and repayments, we also send a statement of social investments on a monthly basis. A record of all transactions made by a social investor on Rang De is available on login from the dashboard. A detailed statement of social investments is also available on request from the team. This is being automated and detailed reports will be made available online.

Statutory registrations

Following are the particulars of registration of the organization with statutory authorities.

   

Section and Act under which registered

 

Date of

S.No.

Authority

Registration details

registration

1.

Registrar of Trusts

Indian Trust Act, 1882

BNG(U)-JPN/170/2007-2008

January 8 th , 2008

2.

Director of Income Tax (Exemptions), Bangalore

Section 12A of Income Tax Act, 1961

DIT(E)BLR/12A/R-275/--/ITO(E)-2/

September

9 th ,

2008

 

Vol 2008-2009

3.

Director of Income Tax (Exemptions), Bangalore

Approval under section 80G of Income Tax Act,

DIT(E)BLR/80G/61/AABTR2636Q/

November

11 th ,

2008

1961

ITO(E)-2/Vol 2009-2010

4.

Ministry of Home Affairs, Government of India

Registration under section 11(1) of Foreign Contribution (Regulation) Act, 2010

094421494

April 19 th , 2012

5.

Income

tax

-

Permanent Account number (PAN) and Tax Deduction Account number (TAN)

-

department

711.66

Awards & Recognition:

711.66 Awards & Recognition: We won our first award in December 2011. Rang De was awarded

We won our first award in December 2011. Rang De was awarded the Manthan Digital Award. Rang De went on to become the first runner up in the IAMAI digital award for best use of internet for social good. The icing on the cake came with Ramakrishna N.K – Co-founder and CEO of Rang De being elected to the Ashoka fellowship.

We are looking forward to some exciting partnerships and launching new loan products in this financial year. While our technology team is working on creating an engaging experience and enhancing the user experience, our operations team is focusing on deepening our impact on the ground. We are also working on building process frameworks to ensure that at scale, our impact still remains meaningful. As always we look forward to your continued support in helping Rang De scale newer heights and in increasing the impact of our work.

Rang De’s growth in numbers:

Year wise social investments raised

growth in numbers: Year wise social investments raised In the year Cumulative 108.75 139.86 253.80 393.67

In the year

in numbers: Year wise social investments raised In the year Cumulative 108.75 139.86 253.80 393.67 317.99

Cumulative

108.75 139.86 253.80 393.67 317.99
108.75
139.86
253.80
393.67
317.99

2009-10

2010-11

2011-12

(In Lakhs)

3569

3569 Number of social investors In the year Cumulative 925 1107 1580 2687 882 2009-10 2010-11

Number of social investors

3569 Number of social investors In the year Cumulative 925 1107 1580 2687 882 2009-10 2010-11

In the year

3569 Number of social investors In the year Cumulative 925 1107 1580 2687 882 2009-10 2010-11

Cumulative

925 1107 1580 2687 882
925
1107
1580
2687
882

2009-10

2010-11

2011-12

State wise distribution of funds raised during the financial year 2011-12

17.06 5% 29.73 73.41 23% 9% 3.50 1% 39.92 7.20 13% 2% 9.66 3% 85.36
17.06
5%
29.73
73.41
23%
9% 3.50
1%
39.92
7.20
13%
2%
9.66
3%
85.36
48.87
27%
3.30 16%
1%

Bihar7.20 13% 2% 9.66 3% 85.36 48.87 27% 3.30 16% 1% Jharkhand Karnataka Kerala Madhya Pradesh

Jharkhand13% 2% 9.66 3% 85.36 48.87 27% 3.30 16% 1% Bihar Karnataka Kerala Madhya Pradesh Maharashtra

Karnataka9.66 3% 85.36 48.87 27% 3.30 16% 1% Bihar Jharkhand Kerala Madhya Pradesh Maharashtra Manipur Orissa

Kerala85.36 48.87 27% 3.30 16% 1% Bihar Jharkhand Karnataka Madhya Pradesh Maharashtra Manipur Orissa Tamil Nadu

Madhya Pradesh48.87 27% 3.30 16% 1% Bihar Jharkhand Karnataka Kerala Maharashtra Manipur Orissa Tamil Nadu West Bengal

Maharashtra3.30 16% 1% Bihar Jharkhand Karnataka Kerala Madhya Pradesh Manipur Orissa Tamil Nadu West Bengal (In

Manipur16% 1% Bihar Jharkhand Karnataka Kerala Madhya Pradesh Maharashtra Orissa Tamil Nadu West Bengal (In Lakhs)

Orissa16% 1% Bihar Jharkhand Karnataka Kerala Madhya Pradesh Maharashtra Manipur Tamil Nadu West Bengal (In Lakhs)

Tamil Nadu16% 1% Bihar Jharkhand Karnataka Kerala Madhya Pradesh Maharashtra Manipur Orissa West Bengal (In Lakhs) 6

West Bengal3.30 16% 1% Bihar Jharkhand Karnataka Kerala Madhya Pradesh Maharashtra Manipur Orissa Tamil Nadu (In Lakhs)

(In Lakhs)

State wise distribution of funds raised since inception 32.35 27.00 118.59 4% 4% 18.60 15%

State wise distribution of funds raised since inception

32.35 27.00 118.59 4% 4% 18.60 15% 2% 46.73 4.34 6% 16.88 31.58 1% 2%
32.35
27.00
118.59 4%
4% 18.60
15%
2% 46.73
4.34
6%
16.88
31.58 1%
2%
1.50 4%
0%
111.81
14%
200.83
33.32
25%
4%
12.97 135.29
2%
17%

Rang De’s Field Partnerships

Andhra Pradesh4% 12.97 135.29 2% 17% Rang De’s Field Partnerships Bihar Gujarat Jharkhand Karnataka Kerala Madhya Pradesh

Bihar2% 17% Rang De’s Field Partnerships Andhra Pradesh Gujarat Jharkhand Karnataka Kerala Madhya Pradesh

Gujarat2% 17% Rang De’s Field Partnerships Andhra Pradesh Bihar Jharkhand Karnataka Kerala Madhya Pradesh Maharashtra

JharkhandRang De’s Field Partnerships Andhra Pradesh Bihar Gujarat Karnataka Kerala Madhya Pradesh Maharashtra Manipur Orissa

KarnatakaField Partnerships Andhra Pradesh Bihar Gujarat Jharkhand Kerala Madhya Pradesh Maharashtra Manipur Orissa Rajasthan

KeralaAndhra Pradesh Bihar Gujarat Jharkhand Karnataka Madhya Pradesh Maharashtra Manipur Orissa Rajasthan Tamil

Madhya PradeshAndhra Pradesh Bihar Gujarat Jharkhand Karnataka Kerala Maharashtra Manipur Orissa Rajasthan Tamil Nadu Uttar

MaharashtraBihar Gujarat Jharkhand Karnataka Kerala Madhya Pradesh Manipur Orissa Rajasthan Tamil Nadu Uttar Pradesh (In Lakhs)

ManipurJharkhand Karnataka Kerala Madhya Pradesh Maharashtra Orissa Rajasthan Tamil Nadu Uttar Pradesh (In Lakhs) New

OrissaKarnataka Kerala Madhya Pradesh Maharashtra Manipur Rajasthan Tamil Nadu Uttar Pradesh (In Lakhs) New Cumulative

RajasthanKarnataka Kerala Madhya Pradesh Maharashtra Manipur Orissa Tamil Nadu Uttar Pradesh (In Lakhs) New Cumulative 37

Tamil NaduKerala Madhya Pradesh Maharashtra Manipur Orissa Rajasthan Uttar Pradesh (In Lakhs) New Cumulative 37 34 17

Uttar PradeshPradesh Maharashtra Manipur Orissa Rajasthan Tamil Nadu (In Lakhs) New Cumulative 37 34 17 17 5

(In Lakhs)

Manipur Orissa Rajasthan Tamil Nadu Uttar Pradesh (In Lakhs) New Cumulative 37 34 17 17 5

New

Orissa Rajasthan Tamil Nadu Uttar Pradesh (In Lakhs) New Cumulative 37 34 17 17 5 3

Cumulative

37

34 17 17 5 3
34
17
17
5
3

2009-10

2010-11

2011-12

Rang De beneficiaries

Rang De beneficiaries During the year Cumulative 12789 7404 5385 4734 2176 2670 The year ahead
Rang De beneficiaries During the year Cumulative 12789 7404 5385 4734 2176 2670 The year ahead

During the year

Rang De beneficiaries During the year Cumulative 12789 7404 5385 4734 2176 2670 The year ahead

Cumulative

12789

7404 5385 4734 2176 2670
7404
5385
4734
2176 2670

The year ahead

2009-10

2010-11

2011-12

Austere times require audacious goals. The last two years have been marked by slow down in micro credit space. The resources have dried up and smaller organisations have either closed operations or are finding it extremely difficult to manage them. The outreach of large organisations has reduced. The worst affected are the beneficiaries who don’t have access to funds. We believe that when resources are scarce, innovation is the only route to growth.

For the new financial year, our plan is to scale up our outreach. By December 2012, our goal is to disburse Rs.1 crore every month and reach out to more than 1000 low income households. By March 2013, our field partner network would have grown to a size of 40 non-profit organisations across India. With scale comes an increased responsibility and Rang De will be implementing process frameworks to detect any process violation and achieve excellence in our work. This is going to be the most exciting year for all of us at Rang De. We look forward to the support of our social investors, corporates, our field partners and everyone who has been contributing to the growth of Rang De.

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