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BHARATIYA TEMPLE & CULTURAL CENTER OF GREATER LAFAYETTE03/24/2012
WE NEED A SHARING PLACE
Share our beliefs Share our talents Share our culture Share our knowledge Share our successes Share our friendships Share our support to
others
SURVEY RESULTS
FOUNDING GROUP
Umesh & Monal Vishal & Shilpa Sunil & Hema Parashar & Neetu Indrajeet &
Shraddha Amit & Meghna
Bhavin & Shalini Jagdish & Surekha Niraj & Rani Subra & Padma
INITIAL MILESTONESDate Milestone
Nov 20th, 2011 First formal meeting
Dec 8th, 2011 Community Survey
Jan 15th, 2012 Organization Established
Feb 7th, 2012 Organization Registered with IRS and State as non-profit organization
Feb 9th, 2012 Bank Account opened
Mar 4th, 2012 Constitution approved
ORGANIZATION MISSION To share, foster and promote Indian culture
and religions of Indian origin in the community.
To establish a permanent place of worship, such as a temple.
To establish a center for the community to promote social interactions through sharing of knowledge, culture and talents.
To provide a venue for charitable and educational activities based on peace, love, justice, truth and harmony.
To promote friendship and goodwill among people of all religions
THE CORE VALUES
Have respect and tolerance for all religions and religious practices of the world.
Be tolerant of the beliefs and practices of all individuals
Provide equal access to all members irrespective of their contributions to the organization.
The BTCCGL temple and organization shall be sensitive to all religions and sects of Indian origin.
MEMBERSHIP AND ORGANIZATION
Follows a religion of Indian origin, for example but not limited to Hinduism, Buddhism, Jainism, Sikhism.
Constitution emphasizes decisions being made by the organization’s members.
Two basic types of members (general and life)
An elected Executive Committee (President, Secretary, Treasurer, and 4 other Officers)
Trustees (3 to 5)
FINDING THE PLACE
Several opportunities were explored Current promising prospect
1210 Montgomery Street, W. Lafayette Over 16,000 sq. feet, conveniently located,
large gathering hall (capacity of 300+), kitchen, several small to medium rooms, parking
Bank owned On bus route
LOCATIONCumberland Ave
Montgomery Street
Yea
ger
Roa
d
Ken
t A
ve
LATEST MILESTONESDate Milestone
Feb 28th, 2012 Property identified that would meet community’s needs
March 4th, 2012
First life members make initial donationsBank account balance $16,000
March 9th, 2012
Bid on property accepted for $415,000 with $10,000 earnest money deposit
Mar 24th, 2012 First puja event of BTCCGL
PURCHASE PROPOSAL DETAILS
Price: $415,000 ($25.95 per sq. ft.) Estimated Market Value: $80+ per sq.
ft. Contingent on the following:
Approval from Executive Committee and majority of membership in 45 days after acceptance from seller
Acceptable building inspection by BTCCGL designated inspectors
Ability to secure financing for purchase
ESTIMATED FINANCIALSOne Time Expenses
Property purchase $415,000
Renovation and Repair
RoofHVACOther
$29,500$45,000$10,500
Total $ 500,000
Estimated Monthly Expense
Bank loan payment $3,145
Utilities $3,000
Insurance $600
Miscellaneous $710
Maintenance $860
Total $ 8,315
FUNDING GOALS
Raise $250,000 Funding Threshold $220,000
$150,000 for principal $100,000 for first year of operations Donations and Pledges to Date: $33,511This will get us into a building that will be
functional for our needs. Further work and investment will be required to have a fully operational temple.
NEXT MILESTONES
May 4th, 2012 Approval by membership and executive
committee Raise funds for down payment ($150,000)
and first year’s expenses Complete evaluation of building
June 1st , 2012 Closing and payment.
ACTIONS IN THE NEXT 45 DAYS
Membership Drive Family ($151 / year) Individual ($101/year) Student ($25/year) Life (Family) $2000 Life (Individual) $1500
ACTIONS IN THE NEXT 45 DAYS
Fundraising Membership Major supporters Corporate supporters
All donations are tax deductible contributions
INITIAL FUNDING
Source Amount
General Members (100) $15,100
Life Members (50) $100,000
Major Supporters $100,000
Corporate Supporters $10,000
Fund Raising Events $25,000
Total $250,100
PROPOSED ONGOING REVENUE MODEL
Funding Sources
Family memberships (100 @ $151)
$15,100
Student memberships (100 @ $25)
$2,500
Life memberships (10 @ $2,000)
$20,000
Rental income $30,000
Major Supporters $40,000
Corporate Supporters $10,000
Other Donations $10,000
Total $127,600
WHAT WE NEED NOW
Members Volunteers to support the cause More members show the organization’s
strength to banks who might provide us loans. Let friends know of organization.
Donations or Pledges Donate to be a life member now or even more Make a pledge to donate that is conditional on
BTCCGL reaching the fund raising goal.
RESOURCES
http://www.btccgl.org Email: [email protected] Facebook: http://facebook.com/btccglin Phone: 765 831 BTCC (2822) Any member
QUESTIONS