India Endowment Activity

March - April 2001

We are pleased to announce that a new endowment in India has been opened: Swami Agnivesh Endowment Fund. This is for providing support to the outstanding social service programs overseen by Swami Agnivesh of New Delhi. It is fund #29 and for those interested in supporting Swami’s social service programs in India it is a convenient way to do so. A detailed article on Swami Agnivesh appears on page 44 and 45 of this issue of Hinduism Today.

Five grants to Hindu institutions in India were made in November, 2000. Kapaleeshwara Orphanage received its first grant for Rs. 9,370. This fund was established in May of 1999 by Dr. Jayanthi Mukundan of Liverpool, England, who continues to generously support the endowment along with a number of other donors. Also receiving their first grants, both for Rs. 3,740, are the Vishwamata Gayatri Trust, New Delhi, of Swami Pragyanand, for general support and the Tirumular Sannidhi in Tiruvavaduthurai, for shrine upkeep. Other grants issued are Rs. 12,470 to Abirami Amman Temple, Tirukadaiyur, which provides a monthly archana on each full moon day, and Rs, 12,920 to Iyarappan Temple, Thiruvaiyaru, which sponsors a monthly puja and feeding on ardra nakshatra at this Siva temple (photo to left).

Five Advantages Part II

Do you know the five reasons why Hindu Heritage endowment is your best choice for giving to support Hinduism worldwide? This is the name of a recent HHE pamphlet you can read in full on our website. In the last issue the first three advantages were listed. Here are the final two.

4. True Versus Quasi Endowment

Create a true endowment with general contributions

Many Hindu institutions set aside a portion of current income in an “endowment” to provide future support. However, as the donor did not direct the donation to the endowment, it is a quasi or board designated endowment and can be spent by current or future governing boards. This type of endowment clearly does not provide financial security for the future. An alternative is for the institution to use a portion of current income to create a true endowment at HHE. These funds are invested in perpetuity and cannot be spent and therefore provide great security for the institution’s future. Many temples and institutions would beneift from moving their endowment funds to HHE for permanent security.

5. Greater Financial Stability

Investments in US financial markets

For Hindu institutions outside the US and individuals in foreign countries wishing to establish an endowment for a local institution, HHE provides an alternative to investing in their national currency and national financial markets. HHE’s investments are in US dollars and in the US financial markets, thus providing protection against currency devaluation and the greater fluctuations of foreign financial markets. Endowments in countries like Malaysia or India have devalueated significantly in recent years, and moneys transfered to HHE would enjoy protection against such erosion of principal.

Recent Endowment Contributions

MISSION STATEMENT

Hindu Heritage Endowment is a publicly supported, charitable organization recognized as tax exempt by the IRS on April 22, 1994. Employer ID 99-0308924. Founded by Satguru Sivaya Subramuniyaswami, its philanthropic mission is to provide secure, professionally managed financial support for institutions and religious leaders of all lineages of Sanatana Dharma.

PROFESSIONAL ADVISORS

Halbert/Hargrove, Investment Counsel; Sonoda & Isara, LLP, CPA. HHE is a member of the Council on Foundations, an association of more than 2,000 foundations which interprets relevant law and management and investment principles, and of the National Committee on Planned Giving, the voice and professional resource for the gift planning community.

I want to participate. Where should I Send My Donation?

You may send your gift to an existing fund, create a new Endowment or request information through the address below.

Donations may be made online at www.hheonline.org or use the HHE tear-out card in the HINDUISM TODAY magazine to join our family of benefactors who are Strengthening Hinduism Worldwide. Thank you.