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ESTATE & FINANCE
Estate
:
Studies are on to determine the best use that can be derived of the
Fidai properties. Several residential apartment buildings have been
constructed in the past and rented to individual families on the rear
portion of Fidai Estate at Andheri to augment the income of the Trust.
Thanks to the exemplary co-operation from the Tenants' Association,
the Fidai Estate is regarded as one of the best maintained housing complexes
in North Mumbai.
Finances :
The Institutions spend about Rs. 1,400 per child
per month but the recovery of fees from the parents
averages about Rs. 300 per child per month. There
is, therefore, a recurring deficit from month
to month. the laws applicable to charitable institutions
allow very limited avenues of investments. The
funds of the Institutions have been mainly invested
in Fixed Deposits of Banks. With the persistently
decreasing interest rate the income is shrinking.
Fidai Institutions are therefore in great need
of endowment funds.
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