Gurudev

TRUE LOVING IS NOT A PASSIVE 'TAKING' BUT A DYNAMIC 'GIVING'.

Please Make check payable to :

U.S. Tax ID/EIN: 36-3543727
Chinmaya Mission Chicago - Yamunotri
30877 N Fairfield Rd
Grayslake, IL 60030

OR

Click Here for One Time Secure Online Donation

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SANGAM FUND

What is Sangam Fund?

Sangam Fund comprises of Zero Interest Loans given by any participant to Chinmaya Mission Chicago for a period of 3 or more years.

What is the objective of the Sangam Fund?

Each loan amount will be used exclusively to pay our existing mortgage and reduce interest cost.

What is the magnitude of financial benefit to Chinmaya Mission Chicago (CMC)?

Our existing mortgage is $2.8 million. If left for full 25 years, interest will be over $1.6 million.
This program will substantially reduce or even eliminate this expense.

Can you provide process steps of the Sangam Fund program?

Major steps are as follows:
1. Loan commitment: Send the completed pledge form to Chinmaya Mission Chicago with a check. Suggested loan levels are: Platinum ($100,000+), Gold ($50,000), Silver ($10,000), and Bronze ($5,000). The loans are categorized into three groups for repayment: Group A (5 yrs.+), Group B (4 yrs) and Group C (3 yrs).
2. Acknowledgement Note: Each loan will be given an official written acknowledgement note with repayment date specified (Loans of $50,000 or more will be repaid in two installments; other loans will be repaid at the end of the loan period).

How much does it cost to a donor?

We estimate that the after tax cost (or lost opportunity to earn interest) to a donor will be quite low i.e. For every $5,000 loan cost will be $35/year-$105/year (based on 1%-3% interest & 30% tax)

Can I request the loan amount before the end of the term?

In an emergency situation (submitted in a written request), we will do our best in repaying the loan before the term.

Are the loans secured?

The loans are secured by the existing assets of CMC.

Who do I call if I have questions about the Sangam Fund?

Name
Phone
Ashok Bhatia (847)-477-5157 (cell)
Rajul Bhalala (847)-302-2383 (cell)
Premal Joshipura (847) 814-6072 (cell)
Ujjwal Mehta (847) 682-7020 (cell)

 

Download Sangam Fund Form

Download Ananda Fund Form

Click Here for One Time Donation

 

ANANDA FUND

What is an Ananda Fund?

Ananda Fund is a monthly recurring automatic withdrawal from a donors bank account as authorized by the donor or a lumpsum amount bi-annually or annually.

What is the amount a donor can authorize for monthly withdrawal?

It can be any amount from $50 to $1,000 in the increments of $50.

What will this fund be used for?

Mainly this fund would be used for montly maintenance,
which includes mortgage payment, utilities and other monthly payments.

What is the projected monthly maintenance amount?

It will be approximately $20,000 per month.

How many families are enrolled at this time?

We have 59 families at present donating $5,150 per month.

How many families are you hoping to enroll?

Our goal is to enroll about 150 families with the potential collection of about $20,000 per month.

How can one enroll in this fund?

One can enroll by filling out the appropriate pledge form and handing it to a volunteer.
For more questions contact one of the volunteers listed in the table below .

Is this donation tax deductible?

Yes.Please consult your tax consultant for further information.

Who do I call if I have questions about the Ananda Fund?

Name
Phone
Ashok Bhatia (847)-680-4735
Rajul Bhalala (847)-302-2383 (cell)
Premal Joshipura (847) 362-6073
Ashish Kathuria (847) 331-0959
Pankaj Khanna (847) 452-0753
Ujjwal Mehta (847) 367-7924

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