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North American Konkani Association

NAKA Endowment

With the 2020 Konkani Sammelan starting a year from now,  the NAKA board would like to re-initiate the campaign for the Endowment fund .  

NAKA Endowment is an ambitious project to raise $1 Million to be invested in broadly diversified index funds. 80% of the gains from such investments will be used to partially fund future Konkani Sammelan. 20% of the gain will be added as principle for future calculations. This will help to grow the principle and help inflation costs. NAKA Board needs our community support for the NAKA Endowment Fund. We believe that if a large number of families join in this effort then we can be assured  of financial viability of the future Sammelans.  You can consider this donation as a one time cost similar to your mortgage and if you spread it over 30 years then it amounts to $15 per month. 


Know More

What is NAKA Endowment Fund:
 - A corpus fund amounting to $1 million raised from our own community and matching corporate donors (where available) for the konkani community of the US and Canada.

How  will NAKA Endowment be managed: 

 - This $1 million will be invested in low-fees S&P 500 Fund, which has typically returned about 6.25%. This will net us about $250,000 in gains every 4 years. 

How  will this $250,000 be used: 
 - A major portion of this $250,000 gain will be given to the Sammelan host committee as NAKA contribution to host Sammelan. Every Sammelan committee has spent a whole year to raise funds for hosting Sammelan. We believe this will significantly reduce Committee efforts to raise funds. Instead the host city committee will focus on hosting a wonderful Sammelan. 

Why should I contribute to NAKA Endowment Fund:
 - This is our contribution to an institution that will sustain our present and next generation. We owe it to ourselves to make this noble donation.

How much is expected from me, How much should I pay:
 - Suggested donation is $5,000. NAKA President (Ramesh Kamath) has already pledged $5,000 donation to start this fund with many more donors also committing a similar amount. A minimum donation of $2,500 is envisaged.

How can I pay into this fund and do I get a tax break: 
- Thanks for considering this fund in your donation plans. Since NAKA is a 501c(3) IRS-approved organization, you can claim suitable tax deductions. Please consult your tax advisor for your specific situation.

May I contribute if I cannot be at $2,500 level:
 -  Any donation from members of konkani community of the US and Canada is welcome. We hope you will do your best to strengthen our community.

Donate to Endowment

A robust endowment ensures that we are financially ready to undertake any task that benefits our community and aligns with our charter. Your contribution helps all of us to be successful and provides us a means to serve you better.

Donate

North American Konkani Association, 2465 Bergen Avenue, Brooklyn, NY 11234, USA

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