FINANCIAL REPORT
Financial Report 2020-21
Forum for Medical Ethics Society
The Forum for Medical Ethics Society’s income in the year 2020-21 was from the following sources:
Subscriptions: Rs. 4,00,720/-, Membership fees: Rs. 20,500/-, Income from Other Sources: Rs. 24,379/-, Bank interest (including interest on fixed deposits): Rs. 3,04,345/-, and Donations: Rs. 1,06,135/-. The amount received by way of Grants was Rs. 13,38,000/-.
During the year 2020-21, we incurred expenses for services of regular staff, payment of honoraria and printing of the journal. The Forum for Medical Ethics Society spent Rs. 1,63,453/- on printing the journal and Rs. 1,02,845/- on Honorarium, Rs. 19,85,019/- went into establishment, Project and other expenses.
Donations to the Forum for Medical Ethics Society are eligible for 50 per cent tax exemption under Section 80G of the Income Tax Act.
| BALANCE SHEET |
|
| Properties and Assets | Rs. |
| Fixed Assets | 1,76,192.00 |
| In Bank Account | 45,75,673.00 |
| Advance To Employees | 5,000.00 |
| Advance Tax Deducted at Source | 1,92,555.00 |
| Accrued Interest | 41,757.00 |
| GST Credit | 1,38,647.00 |
| Deposit for Office Premises | 50,000.00 |
| Total | 51,79,824.00 |
| Funds and Liabilities | |
| Trust funds or corpus | 1,36,157.00 |
| Contingencies reserve fund | 45,000.00 |
| Due to Expenses | 15,240.00 |
| Life subscription fees (refundable) | 4,30,570.00 |
| Balance as per last balance sheet | 46,10,095.00 |
| Less Excess as per I & E A/c | (-)57,238.00 |
| Total | 51,79,824.00 |
| Income During the year | ||
Sr. No. |
Particulars | Rs. |
(A) |
Bank interest | |
1 |
On fixed deposits | 2,91,017.00 |
2 |
On savings bank account | 13,328.00 |
(B) |
Income from Other Sources | |
1 |
Membership fees | 20,500.00 |
2 |
Subscription | 4,00,720.00 |
3 |
Professional Fees | 16,950.00 |
4 |
Currency Gain | 429.00 |
5 |
Reprint Article Charges | 7,000.00 |
(C) |
Donations | 1,06,135.00 |
(D) |
Grant received | 13,38,000.00 |
(E) |
Deficit carried to B/s | 57,238.00 |
(F) |
Total (F = A+B+C+D+E) | 22,51,317.00 |
| Expenses incurred on Objects of the Trust (educational) | ||
Sr. No. |
Particulars | Rs. |
(A) |
Journal expenses | |
1 |
Printing & posting of Journal | 1,63,453.00 |
2 |
Honorarium | 1,02,845.00 |
(B) |
Establishment Expenses | |
1 |
Printing & stationery | 7,471.00 |
2 |
Professional Fees | 1,80,123.00 |
3 |
Rent | 1,80,000.00 |
4 |
CC Avenue Charges | 5,488.00 |
5 |
Bank Charges | 1,704.00 |
6 |
Electricity Charges | 2,471.00 |
7 |
Hospitality and Meeting Expenses | 7,136.00 |
8 |
Membership Fees Paid | 41,936.00 |
9 |
Salary | 14,65,257.00 |
10 |
Insurance Premium | 4,117.00 |
11 |
Miscellaneous Expenses | 985.00 |
12 |
Office Expenses | 8,700.00 |
13 |
PayU Service Charges | 1,145.00 |
14 |
Repairs and Maintenance | 1,900.00 |
15 |
Staff Welfare | 225.00 |
16 |
Travelling and Conveyance | 11,450.00 |
(D) |
Other | |
1 |
Depreciation | 64,911.00 |
(E) |
Total (E=A+B+C+D) | 22,51,317.00 |
