Maharashtra Foundation holds an Annual General Body meeting in the month of July. Donor – Members are notified of the date and time in June.
Annual General Meeting Sunday July, 26 2020
As required by the constitution, the Maharashtra Foundation Annual General Body Meeting was held on July 26th, 2020. All members were invited to attend and participate in the meeting. This year in following the norms of social distancing, the AGM was conducted online.
In the AGM we presented the highlights of activities carried out so far, the projects that Maharashtra Foundation is funding and participants had the opportunity to ask any questions that they had for the board. We also went over details of MF Financial performance for 2019.
Just to give you a peek in MF’s 2019 financial performance, thanks to excellent performance of our investment funds, we made a net profit of $277,919. Our balance sheet is strong with total assets of $4MM. Over the years we have managed to keep our overhead around 3.5%, however, in 2019 the overhead climbed to 6% primarily because of the one-time exceptional expense that we incurred in partnering with BMM to host the NGO Summit at the BMM Convention in 2019.
You can look up minutes of 2020 AGM in the Archives section below.
We look forward to seeing you at the next AGM in 2021.