Jaya Lalita's Refundable Endowment model

[Guest guest]

Mark Middle Mountain wrote:

 

> >

> >

> > I suggest that the best form of subsidy is the endowment.

>

> Absolutely.

>

> > With an up front

> > endowment that provides the entire subsidy requirement, there is no worry

> > about fluctuating donation income.

>

> Depending on donations is skating on thin ice. Endowments will also attract

> larger donations, incidentally. Most successful long term institutions have

> endowments. Check your local university as a model for what programs work

> given varying tax structures in various countries.

 

Jaya Lalita prabhu, a Prabhupada disciple who is also a trained economist,

suggested a simple funding model for Gita-nagari Farm several years ago. Under

her model, patrons would be invited to make a ten-year interest-free loan to

the

farm. The funds would be deposited and, as in other endowments, the interest

generated would be used to pay off the land costs of Gita-nagari. At the end

of

the ten-year period (or whatever length of time the patron signed on for), the

original money loaned by the patron would be returned to them. A good lawyer

could probably enhance the tax benefits for the contributing patrons.

Obviously,

a program like this requires a small board of trustees of solid repute and

competence to administer it -- otherwise patrons will not be forthcoming.

 

Unfortunately, the Gita-nagari management could not understand the idea of a

program where patrons of a Krsna conscious community would actually have their

"donations" refunded at the end of a fixed period of time, but I think it's a

good model for engaging the help from the sucis and srimatis, and it should

have

been investigated further. As patrons see that tax benefits are realized and

that endowment contributions are actually refunded at the fixed dates agreed

upon, this would generate further contributions and wider participation by

devotees who want to push Srila Prabhupada's ideals for simple living and high

thinking -- but who are too entangled in the modern economic system to do it

directly themselves.

 

**Another important point is that it would be best if the endowment earnings

were

allocated to two principal accounts -- one for land payment, and the other to

provide training facilities and personnel for young farming families. Naveen

Krsna used to quote Srila Prabhupada as saying, "Lack of success is due to

lack

of training." Just providing land for prospective farmers is not sufficient --

it must be accompanied by excellent training to give them expertise, confidence

and a spirit of community commitment.

 

your servant,

 

Hare Krsna dasi

[Guest guest]

>

>

> Jaya Lalita prabhu, a Prabhupada disciple who is also a trained economist,

> suggested a simple funding model for Gita-nagari Farm several years ago.

Under

> her model, patrons would be invited to make a ten-year interest-free loan to

> the

> farm. The funds would be deposited and, as in other endowments, the interest

> generated would be used to pay off the land costs of Gita-nagari.

 

I am not sure, but that may be called a Lead Trust. Been too busy to write -

one

Farmer's Market we sell at has started and the second starts in 2 weeks.

 

Someone really interested in the topic could check the following site for an

idea

of how to approach large donors.

 

http://phillips.exeter.edu/giving

 

Keep clicking thru until you find a pade where Lead Trusts and a lot of other

options are detailed.