Proposal: Emergency Fund for Medical Emergencies
Objective:
To establish an Emergency Fund aimed at providing financial assistance for medical emergencies to
the alumni, staff, and faculty of Ramakrishna Mission Vidyapith (RKMV). The fund will operate as a
community-driven safety net to address unforeseen health crises.
Fund Structure and Administration:
1. Governance:
The fund will be managed by an independent committee to ensure transparency and efficiency. The
committee will consist of:
• 1 Executive Council (EC) Member: To provide institutional oversight.
• 2 Alumni Representatives: To ensure representation and accountability.
• 1 Faculty Member: To represent the staff and faculty interests.
2. Financial Model:
• Seed Capital: The fund will be launched with contributions from alumni, faculty, and other
stakeholders. An initial target of INR 10,00,000 will be set.
• Recurring Contributions: Alumni and well-wishers will be encouraged to contribute annually
through a dedicated online portal.
• Investment Strategy: Unutilized funds will be parked in low-risk fixed deposits to generate
returns and ensure fund sustainability.
Process:
1. Eligibility Criteria:
• Any alumni, staff, or faculty member of RKMV facing a medical emergency will be eligible to
apply.
• A medical emergency is defined as a sudden illness or accident requiring immediate
treatment.
• Applicants must provide proof of affiliation with RKMV and medical documents.
2. Application Process:
1. Submission:
o Applicants will submit a detailed request form via the online portal or in-person at
the RKMV administration office.
o Required documents include medical records, treatment cost estimates, and proof
of identification and affiliation with RKMV.
2. Review:
oThe committee will evaluate applications within 3 working days based on the
following criteria:
Severity of the medical emergency.
Financial need of the applicant.
Availability of funds and expected future obligations.
3. Approval and Disbursement:
o Approved requests will be communicated to the applicant within 3 days of the
review.
o The disbursement will be capped at a maximum of 50% of the applicant’s medical
insurance claim or INR 2,00,000, whichever is lower. Each applicant can avail this
benefit a maximum of two times.
o Funds will be disbursed within 7 working days directly to the healthcare provider or
the applicant’s bank account.
4. Follow-Up:
o Beneficiaries may be required to submit follow-up reports or receipts to confirm the
proper utilization of funds.
3. Transparency and Accountability:
• Regular Reports: The committee will publish quarterly reports detailing the number of
applications received, approved, and the amount disbursed. These reports will be made
available to all stakeholders.
• Audits: Annual third-party audits will be conducted to review fund operations and ensure
compliance with guidelines.
• Beneficiary Feedback: Beneficiaries will be invited to provide anonymous feedback on the
process to identify and address any gaps.
• Public Ledger: A summarized ledger of contributions and disbursements will be accessible
online for transparency.
Benefits:
1. Financial Security:
• The fund provides immediate relief in times of medical emergencies, reducing the financial
burden on individuals and families.
2. Community Support:
• Alumni, staff, and faculty come together to create a self-sustaining support system, fostering
a sense of belonging and mutual care.
3. Institutional Credibility:
• The initiative enhances RKMV’s reputation as a compassionate and supportive institution,
encouraging alumni and other stakeholders to stay engaged.
4. Sustainable Model:
• By investing unutilized funds and encouraging recurring contributions, the fund ensures
long-term sustainability while addressing immediate needs.
Timeline:
Phase 1: Setup (3 Months)
1. Month 1:
o Form the committee and define its roles.
o Draft the fund’s constitution and operational guidelines.
2. Month 2:
o Launch a fundraising campaign targeting alumni and institutional donors.
o Develop an online platform for contributions and applications.
3. Month 3:
o Open the fund for applications and conduct initial disbursements.
Phase 2: Implementation (Ongoing)
1. Months 4-6:
o Promote the fund among the RKMV community.
o Evaluate and refine the application process based on early feedback.
2. Month 6 and Beyond:
o Conduct periodic reviews of fund performance.
o Launch a sustained engagement campaign for alumni contributions.
Communication Plan:
1. Initial Outreach: Leverage alumni networks, faculty meetings, and social media to announce
the fund.
2. Regular Updates: Publish semi-annual newsletters with fund updates, success stories, and
financial summaries.
3. Recognition: Highlight major contributors in communications to encourage more
participation.
Conclusion:
The Emergency Fund will provide a much-needed financial safety net for the RKMV community. Its
transparent administration, sustainable model, and community-driven approach will ensure its long-
term success. With collective efforts, this initiative will uphold the institution’s values of service and
compassion.
