FINANCIAL REPORT 2015-2016
The income of the FMES in the year 2015-16 was from the following sources:
Subscriptions: Rs. 1,28,628; Membership fees: Rs. 25,500. Bank interest (including interest on fixed deposits)
Rs. 1,40,102; and Rs. 21,000 received from donation. The amount received by way of Grants is Rs. 34,00,000.
In the year 2015-16, we incurred expenses for services of regular staff, payment of honoraria and printing of the journal. The Forum for Medical Ethics Society spent Rs. 2,47,604 on printing the journal and Rs. 8,69,695 on honoraria. Â Approximately Rs. 8,07,110 went into establishment and other expenses, including website and Workshop expenses.
Donations to the Forum for Medical Ethics Society are eligible for 50 per cent tax exemption under sections 80G of the Income Tax Act.
| BALANCE SHEET | |
| Properties and Assets | Rs. |
| Fixed Assets | 1,367.00 |
| In Saving Bank Account | 26,78,430.02 |
| Cash In hand | 9,390.00 |
| Advance Tax Deducted at Source. | 1,01,692.00 |
| Deposit for Office Premises | 1,50,000.00 |
| Prepaid Expenses | 2,72,900.00 |
| 32,13,779.02 | |
| Fund and liabilities | |
| Trust funds or corpus | 1,36,157.00 |
| Contingencies reserve fund | 45,000.00 |
| Life subscription fees (refundable) | 4,30,570.00 |
| Balance as per last balance sheet | 8,11,230.22 |
| Excess of income over expenditure | 17,90,821.80 |
| 32,13,779.02 | |
| Income During the year | ||
| Sr. No. | Particulars | Rs. |
| (a) | Bank interest | |
| 1 | On Fixed Deposit | 61,252.00 |
| 2 | On Saving Bank Account | 78,289.00 |
| 3 | Int. on Income tax refund | 561.00 |
| (b) | Income From Other Sources | |
| 1 | Membership Fee | 25,500.00 |
| 2 | Subscription | 1,28,628.89 |
| (C) | Donations | 21,000.00 |
| (d) | Grant Received | 34,00,000.00 |
| Expenses incurred on objects of the Trust (educational) | ||
| Sr. No. | Particulars | Rs. |
| (a) | Journal expenses | |
| 1 | Printing & Posting Journal | 2,47,604.00 |
| 2 | Honoraria* | 8,69,695.00 |
| (b) | Establishment Expenses | |
| 1 | Travel & Conveyance Expenses | 10,571.00 |
| 2 | Printing & Stationery | 19,933.00 |
| 3 | Xeroxing Charges | 1,700.00 |
| 4 | Website Expenses a | 4,85,403.00 |
| 5 | Telephone & Internet | 21,444.00 |
| 6 | Bank Charges | 573.09 |
| 7 | Repair and Maintenance Charges | 2,000.00 |
| 8 | Rent Paid | 32,700.00 |
| 9 | Hospitality and Meeting Charges | 15,679.00 |
| 10 | Postage & Telegram | 55,273.00 |
| 11 | Interest Paid | 150.00 |
| 12 | Brokerage Paid | 25,000.00 |
| 13 | Legal and Professional Fees+ | 1,01,485.00 |
| 14 | Membership and Subscription | 20,269.00 |
| (C) | Audit Fees | 13,740.00 |
| (d) | Other | |
| 1 | Depreciation | 1,190.00 |
| * Payments to two editorial and one administrative staff, copy editing agency and NBC secretariat
a Part payment to the web service provider towards web development and routine services + Payment for legal and financial advice regarding formalities of the Charity Commission’s office and CSR fund utilisation formalities |
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