Loomio
Mon 21 Sep 2015 12:06PM

ADI alignment and need for bank account to receive funds

PP Priya Prakash Public Seen by 208

There is a need for a bank account to receive funds. The bank account holder will need to disburse the funds to Katmlara craftsmen.
Please use this discussion to define all the bank account options dependencies/solutions/needs.

Once there are 2-3 options/solutions/directions - put it for a vote so people can define which approach works best.

Thanks
P

DI

Diana irani Mon 21 Sep 2015 12:35PM

26 th is there Anual General meeting where there core group wants to talk amongst themselves .

PP

Priya Prakash Mon 21 Sep 2015 12:36PM

Is this the proposal @Sajith was talking about?

DI

Diana irani Mon 21 Sep 2015 4:57PM

Yes

Diana irani

MS

Mugdha Sethi Tue 22 Sep 2015 6:38PM

Is this up for a vote, can we extend time?

PP

Priya Prakash Tue 22 Sep 2015 9:23PM

we need to create a proposal which needs voting. I am going to try and create one now

PP

Priya Prakash Wed 23 Sep 2015 7:38AM

please see attached file for context on voting options.

Context:
There is a need for a bank account for enabling funds to be received for all the projects DIF is supporting. DIF collective is currently in discussions with ADI so DIF can use their bank account. They have raised a bunch of requirements for this relationship to be in place. This has raised some pros and cons. We need to evaluate what the options are.

Option 1:
Go with ADI as bank account holder. Formalise relationship. Wait till account is registered, rules of engagement sorted, each fund member chips in membership fees to ADI ( upto Rs.50,000) so they can be a bonafide fund member. Follow ADI organisational policy and rules of engagement and disbursement. Become part of ADI community.

Option 2
We can approach the bank account issue in two phases. Phase 1 - Go with individual project beneficiaries and use crowdfunding where monies get directly into their account. Get some projects to showcase. Show impact build on momentum. Demonstrate to funders how money is utilised via the site and impact report. We need to agree on projects for V1 and roadmap deliverables so we can focus on which crowdfunding platform supports a project type best. See an example of Open Startups on how we can be transparent in our funding and impact. (https://baremetrics.com/open)

Option 3:
Register DIF as an entity. Get a bank account sorted for DIF and ensure all paperwork is in place for type of org etc. Create DIF as an independent organisation and spend time on setting this up from scratch with rules, membership platform, type of organisation etc.

In my original email to Di - had set out what I thought our focus was ( see Pri- Di email doc attached at end of this doc)

I am creating this voting option to clarify where we as a group stand on this bank account issue and subsequent relationship with ADI and others.

DI

Diana irani Wed 23 Sep 2015 7:57AM

I think the school project is a good one to start where the amnts is not too large and impact can be measured relatively easily ?! I would start with option 2 as well and this will help Aline better with ADI backing but not there bank account at this stage keep it simple direct put energies towards proof of concept

SC

siddhartha chatterjee Wed 23 Sep 2015 8:02AM

Option 2. Lean. Less bureaucratic fuss, fewer middle'men' between donors and deliverables. 2 enables either option 3 DIF or option 1 ADI (or combination) to be put in place 'on the shoulders' of Katlamara proof-of-concept momentum... The broader institutionalization probably requires the focussed initiative... Real world impact first (time-wise).

PP

Priya Prakash Wed 23 Sep 2015 8:26AM

please vote on option 2 guys :) that's how Loomio works press the green thumbs up sign ;)

SS

Shailaja Shah Wed 23 Sep 2015 8:53AM

I prefer option 2, where even though we are aligned with ADI, we are not bound by them. Our fund outline is still not clear, and it would probably be prudent to be slightly independent before signing any commitment. That way we still reserve the option (as would ADI) about signing up with them as the official entity or not, based upon the outcome of this funding and deployment exercise

SS

Shailaja Shah Wed 23 Sep 2015 9:03AM

And, personally while I have no reservations of option 1, after going through their own document from the NEC, I prefer the option of testing the waters before formally selecting ADI as our formal funding agency, as I believe that we (DIF) and the concerned project beneficiaries should have sole decision making (transparent) power, adaptable if required to changing situations (with supporting documentations and reasoning) and complete accountability to stakeholders or donors

SS

Shailaja Shah Wed 23 Sep 2015 9:05AM

Option 3 maybe a longterm goal, but depending on outcome of our katlamara chalo project can materialise or not. We need greater clarity in terms of what we are setting out to do longterm before we can say we should be an entity.

SC

siddhartha chatterjee Wed 23 Sep 2015 4:32PM

Haha. Have done @priya. Then noted only 1 vote in. I.e. you haven't thumb-upped yet :)

MS

Mugdha Sethi Thu 24 Sep 2015 4:23AM

@siddharthachats - are you saying I haven't voted? I have, I thought.

DZ

Deborah Zama Fri 25 Sep 2015 7:58AM

I just have one question. how do we fund our immediate concerns? For example, (if the plan is still on), we really must confirm orders for the bamboo chairs by this week with Katlamara. the Puja festivals are looming and it is not fair to keep them on hold. Where do we get money to finance that? Can ADI loan us money while we try to collect membership fees to fund it? OR will a rich generous member loan us the money? when can we start collecting membership fees? Sorry guys but my focus is really immediate for now. (i will call Susanth again sometime today and get as much info for him and will update whoever is working on the final document for the furniture bit)

PP

Priya Prakash Fri 25 Sep 2015 9:40AM

how much is needed?

SS

Shailaja Shah Fri 25 Sep 2015 10:38AM

Still waiting to hear