The fund raising efforts are directly led by key members of the Board of Trustees and the Management Team, most of whom reside in the Middle East. Diya encourages all its donors to dedicate their act of kindness to a person or a cause that is close to their heart (for example, to their parent, child, role model, home town, etc.) and provides them with feedback on the difference being made by their donations. This builds an affinity that goes beyond just financial support; the donors are able to feel and witness the impact being made by their donations. All donors are issued a formal acknowledgement receipts by the finance function.
Funds are maintained in designated bank accounts. Endowment money is invested under a conservative policy to primarily preserve capital and to generate income. All funds designated for specific purposes are ring fenced and applied appropriately. Authority matrix ensures that all disbursement are authorized as per the defined guidelines.
Scholarships are awarded directly to most deserving students as well as through approved schools, colleges and institutions that are on the panel of Diya. A rigorous screening and evaluation process of all applications ensures that the funds are being used for the right purpose and in an effective manner.
Applicants are required to provide comprehensive details on the financial profile, family background and their academic record. The information provided are attested by relevant authorities (for example, School Principal or District Counselor). Further verifications are obtained in the form of phone interviews, reference, or a site visit by Diya staff. Full record of all applications and correspondence is maintained.
Many scholarships are for a modest amount thus mitigating the risk of misuse. Other awards follow a co-sponsorship policy whereby students are encouraged to meet part of their expenses through their own financial means.
All scholarship awards are finalized through a consultative process involving members of the Management Team and representative of the Board of Trustees.
Fund disbursement is made through bank transfer or money order, and acknowledgement receipts are obtained from the beneficiaries.
Beneficiary Feedback and Evaluation
Annual field surveys, direct correspondence with the beneficiaries as well as with their patrons and institutions, and actual field visits are carried out to assess the impact made by our donors’ funds. The feedback is formally documented and analyzed, and the results shared with our donors.
Donor Reporting and Communication
Donors are kept informed of the performance through periodic communication directly with the trustees, as well as through Progress Updates throughout the year.