OCHS Friends and Funds Campaign: From short-term deficit to long-term planning

Submitted by admin on 29 July, 2008 - 16:37
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Thursday, 19 July, 2007

As 2006 drew to a close it became apparent that the accelerated growth of the OCHS left us with a budget shortfall for the year. OCHS Director, Shaunaka Rishi Das, said: 'Until now the OCHS has been kept financially viable thanks to the dedication of a small group of supporters. As the Centre reaches new heights, new funding sources must be found to allow us to consolidate our base and allow for further expansion.'

The first step in bringing the Centre back to financial health was addressed at a special meeting of Benefactors and Friends on 16 November 2006. The resulting Deficit Campaign was very successful and raised pledges for £41,500. This campaign was co-ordinated by Dr Ramesh Shamdasani. The other Campaign Team members were Harish I. K. Patel, Kamlesh Patel, Jaimin Patel, Jai Vadhar, and Patrick Tusler.

The end-of-year deficit outlined the need for the Centre to develop a medium- and long-term fund-development strategy. The purpose of this strategy is to achieve financial security and development for the period 2007-11 and then to provide a firm foundation for the long-term future development of the Centre.

The first phase of the Centre's development was realised with the granting of Recognised Independent Centre status by Oxford University. This established the Centre as an academic institution worth investing in.

The second phase of OCHS development is to ensure that our annual revenue matches our current operating budget. The Annual Revenue Campaign, chaired by Lord Dholakia, will be the vehicle used to realise this goal. To make this a success we are seeking 125 supporters to pledge from £500 to £5000 per annum for the period 2007-11. So far we have received pledges of £125,000 per year. This, says Lord Dholakia, 'is the time for us to get behind the Centre financially. The Centre is now a national institution and something we can all be truly proud of. It can flourish, if we support it.'

These two phases provide the most credible basis for us to launch the third phase - our Endowment Campaign. Our long term financial stability rests on our ability to achieve significant endowments for lectureships, scholarships, research, and publishing. We aim to launch this Campaign in 2008.