“We make the future sustainable when we invest in
the poor, not when we insist on their suffering.”
— Bill Gates
Funding
Financial viability and stability, combined with compassion and passion for its mission, have been among the hallmarks of Hope Academy’s growth to date and promise for the future. Leadership understands that without a rock-solid financial foundation, and go-forward financial strategies that are based on thoroughly tried and tested financial and operating models, Hope Academy’s success and sustainability cannot be achieved. These understandings were embraced at the inception of Hope Academy and they remain at the core of all of its initiatives going forward.
To achieve its goals, Hope Academy leadership has developed, and continues to expand, a diversified base of financial support which combines caring individuals and organizations in both India and the US. It has additionally aligned itself with seasoned professional financial services organizations in both countries so as to best assure the wisdom and accuracy of its planning, its operations, and its recordkeeping and reporting.
Contained following are a recap of Hope Academy’s financial goals and accomplishments to date, together with its projected requirements and goals going forward. Additionally profiled are key relationships relative to funding which have been, and will continue to be, critical to Hope Academy’s near-term and long-term financial stability and success. The number of such Hope Academy alliances will continue to expand.
Land – 6 acres
₹ 3.1 crore ≈$435K | Fully Funded
Phase I Construction – Primary School | 500 Students
Approximately ₹ 7.5 Crore ≈$1,070K
Fundraising Began: June 2017 | Construction Ends: April 2021 Target
Phase II Construction
Secondary School + Admin/Lib/Computer Lab
Approximately ₹ 5.6 Crore ≈$790K
Fundraising Begins: June 2020 Target | Construction Ends: August 2022 Target
Phase III Construction
Gymnasium + Sports Field + Student Garden
Approximately ₹ 2.3 Crore ≈$320K
Fundraising Begins: June 2022 Target | Construction Ends: August 2023 Target
Completed School
Land, Construction, Furnishings, Supplies Etc. for 800 Students
Approximate Total ₹ 18.8 Crore ≈$2,700K
Fundraising Ends: January 2023 Target | Construction Ends: August 2023 Target
See the vision of Hope Academy V2.0 come to life!
We’ve raised ₹ 8.4 Crore of
our ₹ 18.8 Crore goal thanks to
the help of 200 donors, including
a recent gift from TATA Trusts
TOTAL PROJECT COST:
₹ 18.8 crore ≅ $2,659K
Funding Alliances Overview
From its inception HES’s founding principles recognised that allying the organisation with third-party sources of funding — compassionate individuals, foundations, and corporations — would be essential to enable HES to fulfill its mission to serve underprivileged children in India. In this regard, HES leaders also recognised that its responsibility and mandate would be to establish highest-attainable financial and reporting practises and procedures. Listed below are examples of the leading such alliances which HES has successfully established to date. In fulfilling its mission to serve underprivileged children in India, HES continues to seek and forge alliances with additional sources organisations.
Leading India Funding Providers To Date
Tata Trusts
KCP
Tata Trusts
The Sir Dorabji Tata Trust was founded in 1932, and is one of the oldest and most distinguished non-sectarian philanthropic organisations in India. One Trust mandate is to support schools and educational institutions. In early 2018 Tata Trusts performed extensive, independent due diligence to investigate Hope Academy. In September 2018, Tata Trusts generously awarded Hope Educational Society a grant of Rs. 65.10 lakhs ($100K). These funds are being applied towards the construction of Hope Academy’s Phase I facility, a primary school for approximately 480 students. (See the cover page of the Tata grant letter here.)
KCP
KCP Limited is a 75 year old diversified business group with a turnover over 200 million USD with interests in Cement, Heavy Engineering, Sugar and Power. It has 9 manufacturing locations over various geographies in India and Vietnam.
Leading US Funding Providers To Date
New Horizons
Quest
Noll
New Horizons
The New Horizons Foundation is a 30-year-old nonprofit, tax-exempt, US public charity. Total assets in 2017 were USD $53M; distributions to support 403 NHF projects worldwide in 2017 were $9.3M. In 2015, the Hope Academy Vizag expansion project was honoured to be selected as a NHF board-approved operating project. In 2016, NHF distributed the $435K (285 Lakh rupees) needed to purchase land and launch the Hope Academy project. Donors to NHF’s Hope Academy operating project include a cadre of mostly middle-class Hope Academy friends and supporters in the US. This US Advisory Council is also partnering with HES to confirm fiscal and mission accountability. In response to requests from HES, the US Hope Academy Advisory Council will continue to provide educational resources to HA.
Quest
The Quest Foundation is a 14-year-old US 501(c)(3) non-profit charitable organization. This foundation supports youth development organizations involved with education in 18 states throughout the US. In 2017, total assets were $94M and annual giving was approximately $5M. In 2017, Hope Academy was selected as one of the very few international school projects that Quest supports. Hope Academy Quest’s only project in India.
Noll
The Noll Foundation is a 12-year-old US 501(c)(3) non-profit charitable organization. The foundation gives primarily to children’s organizations, primarily located in California and Illinois. In 2017, Hope Academy was selected as one of the very few international school projects that the Noll Foundation supports. Hope Academy is the only project in India that Noll funds.
India Funding Service Organisations
Fiinovation
Sannam
Fiinovation
Innovative Financial Advisors Pvt. Ltd. (Fiinovation) is a 10-year-old, India based global consulting company operating in multiple disciplines of the social development sector, with emphasis on Corporate Social Responsibility (CSR). Fiinovation assists corporations within India as they validate and shortlist worthy civil society organizations for the successful implementation of these corporations’ CSR programmes. Amongst more than 90 such companies, Fiinovation serves ICICI, Infosys, Wipro, Flex Foods, PWC, GlaxoSmithKline, PI Industries and Laurus Labs. In February 2019, Dr Soumitro Chakraborty, Chief Executive Officer of Fiinovation, was conferred with ‘CEO of the year’ award at the 8th World CSR Congress held in Mumbai on February 2019. In 2018 Hope Academy partnered with Fiinovation to win 1.3 crore for construction funding and equipment for its computer laboratory. Finovation continues to work on behalf of Hope Academy.
Sannam
Sannam S4 Pvt. Ltd. is among the preeminent India-based organisations serving leading educational institutions and other nonprofits operating within India. Now in its second decade, Sannam S4 specializes in providing best-in-breed financial, tax, compliance, and related support services. Among its 300+ clients have been the World Bank, the Bill & Melinda Gates Foundation, the Carnegie Endowment, and other small and midsized entities. Sannam S4 professionals in Bangalore and Delhi work closely with HES management in Visakhapatnam so as to establish and maintain HES’ highest attainable fiscal operating and reporting practices and procedures.