GATF Update March 2004

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Last Updated (Tuesday, 26 January 2010 22:30)

GATF Update March 2004

T hrough the accumulated efforts of the total movement in the region, we now have contributions and pledges totalling US$1,020,689.10 as at 31 December 2003. Of this amount, US$841,059.09 has been paid in and the interest derived since its inception is US$59,245.31.

Contributions/Other Income up to 31 December 2003 :

No.

Category of Contributors

Pledged

Received

(%)

Due

1.

National Movements

732,577.94

663,239.06

91

69,338.88

2.

Local YMCAs

136,292.18

39,292.18

29

97,000.00

3.

Other Organisations

20,824.29

20,824.29

100

 

4.

Individuals

130,994.69

117,703.56

90

13,291.13

 

Total

1,020,689.10

841,059.09

82.4

179,630.01

      

5.

Item Sales

 

8,466.03

  

6.

Interest Received

 

59,245.31

  
 

Total

 

908,770.43

 

 

Total Pledges + Income from Item Sales + Bank Interest Received = US$1,088,400.44

The GATF was only able to provide support for one Empowerment Programme in 2003 - a programme among Marginalised Communities in Salem, India, bringing the number of programmes supported to four so far. This was due to the low interest rates (0.05%) on the fixed deposits.

Following the mandate of the Executive Committee in 2003, and working with Dr. Philip Kwok and Dr. Cecil Chan, Trustees resident in Hong Kong, we have invested the monies received, in guaranteed bonds (rated AA and AAA) for between 2-5 years. We have US$560,000 and HK$2,000,000 (US$256,410) in such bonds and the average 3.6% interest receivable will be US$28,865 per year for 2004 to 2006. As a collective fund-raising event, a GATF Bazaar was run during the 16 th General Assembly.