National Alliance of Indo-Canadians donates surplus monies to charities

The National Alliance of Indo-Canadians NAIC  organized community reception for Indian  Prime Minister  Narendra Modi  on  April  15,  2015,  that  got  an  unprecedented  response  from Indo Canadian community and was led by our Prime Minister Stephen Harper. Pankaj Kumar Dave, Vice President, NAIC and Chair of Fund Raising committee disclosed  that a  total  of  $715,696 were  raised  through  sponsorship and  donations by  community  and business corporates for making the mega event such a great success. The event was  especially  historical  for  the Indo-Canadians  as  the Indian  Prime Minister  visited  Canada  after a long gap of 42 years.

Mr. Dave stated that raising that level of funding was done  within  three  weeks  time  available  to  us  to  host  the  event  but  the  response  of  the  community was astounding.  Mr. Nareshkumar Narayanbhai Chavda, Secretary General, NAIC and Chair of financial and  organizational  management ensured  effective  execution  of  the  accounts  that  were  professionally managed by a chartered professional accountant.

Mr. Chavda stated that a  total of $585,014 were spent for hosting the event where minimal monies were spent on  administration  as  volunteers  contributed  through  their  own  time,  money,  and  effort.  Most monies  were  spent  on  expenses related  to  facility  rental  and  event management  amounting  to  $529,812  followed  by  website and  event  logistics  ($39,205 .  To  ensure  financial transparency  in  public  interest,  ‘ENT  Vaughan LLP’,  independently  audited  the  accounts and the financial statements are found to be in order, consistent with Canadian  accounting standards for ‘notIforIprofit’ organizations.