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[Type text]
Audited
Financial
Statements
2011-12
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
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Report of Board of Trustees
RangDe.Org2011-12
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 Des 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 Des 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 organisations 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 organisations 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
competency
Meetings
attended
Prof. P Sudarshan Former distinguished Professor of Entrepreneurship at Great
Lakes Institute of Management.
Member of the Board of Governors at Vittal Mallya Scientific
Research Foundation (VMSRF)
President of IIM-Ahmedabad Alumni Association, Bangalore
Founder-President of TDICI-India's First Venture Capital
Co(now ICICI ventures Ltd).
Entrepreneurship,
Finance,
Management
2/2
Mr. A Ramanathan Former Chief General Manager of the Microcredit Innovations
Department (MCID).
Former Director of Management Studies at Sri Krishna college
of Engineering & Technology, Coimbatore
Microfinance,
Banking 1/2
Ms. Smita Ram Co-Founder and Managing Trustee Social audits,
Governance2/2
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Rang De Advisory group:
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 Des 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 thatinterest 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.
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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.
S.No. AuthoritySection and Act under
which registeredRegistration details
Date of
registration
1. Registrar of Trusts Indian Trust Act, 1882 BNG(U)-JPN/170/2007-2008 January 8th, 2008
2. Director of Income
Tax (Exemptions),
Bangalore
Section 12A of Income
Tax Act, 1961
DIT(E)BLR/12A/R-275/--/ITO(E)-2/
Vol 2008-2009
September 9th
,
2008
3. Director of Income
Tax (Exemptions),
Bangalore
Approval under section
80G of Income Tax Act,
1961
DIT(E)BLR/80G/61/AABTR2636Q/
ITO(E)-2/Vol 2009-2010
November 11th
,
2008
4. Ministry of Home
Affairs,
Government of
India
Registration under
section 11(1) of Foreign
Contribution
(Regulation) Act, 2010094421494
April 19th
, 2012
5. Income tax
department
- Permanent Account number (PAN)
and Tax Deduction Account
number (TAN)
-
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Awards & Recognition:
We won our first award in December 2011. Rang De was awarded the Manthan Digital Award. Rang Dewent 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 Des growth in numbers:
Year wise social investments raised
2009-10 2010-11 2011-12
108.75
253.80
317.99
139.86
393.67
711.66
In the year Cumulative
(In Lakhs)
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Number of social investors
State wise distribution of funds raised during the financial year 2011-12
2009-10 2010-11 2011-12
925
1580
882
1107
2687
3569
In the year Cumulative
17.06
5% 29.73
9%3.50
1%
39.92
13%
9.66
3%
48.87
16%3.30
1%
85.36
27%
7.20
2%
73.41
23%
Bihar
Jharkhand
Karnataka
Kerala
Madhya Pradesh
Maharashtra
Manipur
Orissa
Tamil Nadu
West Bengal
(In Lakhs)
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State wise distribution of funds raised since inception
Rang Des Field Partnerships
32.35
4%27.00
4%18.60
2% 46.73
6%16.88
2%
111.81
14%
33.32
4%
135.29
17%12.97
2%
200.83
25%
1.50
0%
31.58
4%
4.34
1%
118.59
15%
Andhra Pradesh
Bihar
Gujarat
Jharkhand
Karnataka
Kerala
Madhya Pradesh
Maharashtra
Manipur
Orissa
Rajasthan
Tamil Nadu
Uttar Pradesh
(In Lakhs)
2009-10 2010-11 2011-12
5
17
3
17
3437
New Cumulative
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Rang De beneficiaries
The year ahead
Austere times require audacious goals. The last two years have been marked by slow down in microcredit 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 dont 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.
2009-10 2010-11 2011-12
2176
47345385
2670
7404
12789
During the year Cumulative
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