Lotus Charity Foundation (referred to as Lotus Fund) is a private Charity Fund established under Decision No. 24 / QD-BNV by the Ministry of Home Affairs on January 5, 2018. The Lotus Fund is a extended version of The Charity Fund of Ho Chi Minh city was established through Decision 2267 / QD-Committee of the people’s Committee of Ho Chi Minh city on May 5, 2012.
The Fund is located at 5th floor, 11 Mai Thi Luu, District 1, HCMC
Lotus Charity Foundation characteristics
Summary:
• The Fund operates under the principle: no-cost administrative. All donations of the donor are transferred to beneficiaries.
• The fund is managed and has financial supervision transparently. All revenue and expenditure services are updated in real time by using mobile software. The fund is audited by the Ernst & Young company.
- The Fund advocates through volunteer activities to spread compassion to the community, focusing on spiritual therapy, transforming suffering
- The Fund places emphasis on efficiency in charity projects, multi-layer verification, and objective post-project evaluation. The Fund proceeds to build a step-by-step database for the most effective charitable activities
- The Fund acts as the foundation to make everyone’s volunteering ideas come true. All individuals and organizations can be partners of the Fund
Statistics record
• For nearly 6 years (from 8/2012 ~ 6/2018) we had 18829 times that benefactors contributed the amount of 38,148,893,198 VND and a lot of items, food, ground, etc.
• Till June 2018, the network of 2,000 VND Smile Eateries/Restaurants sold more than 2 million meals at the price of 2,000 VND and 1,000 VND.
This is a charity fund with zero management cost . This means that all donations of the donor are transferred to the beneficiaries, not deducting costs for the apparatus. In addition to contributing to the Fund, the founders and executives of the Fund are also responsible for seeking funding to cover the fund’s costs such as rent, salary, transportation and expenses. telecommunications etc.
Donated money will be contributed 100% to the Fund to be used for charity projects. Donors can contribute with a specific or unspecified project designation. This amount of donation must be treated with great respect by the fund management, carefully considered when used for charitable purposes. This money is also known as sacred money. The proceeds from financial development activities to raise the Fund must all go to this Sacred Fund
To cover all activities of the Fund, founders and executive members must finance the operation of their own. To distinguish between the money spent on operating expenses is called a means money or a Means Working Fund, only founders or operating members or their friends are allowed to contribute this means money. To ensure sufficient operating funds, a group of Fund partners called the Means Working Group was created to handle the operating budget.
In short, the revenues on behalf of the Lotus Fund must be included in spiritual money and transferred to beneficiaries. A group of partners called the Means Working Group was created by the executive board to earn money to feed the Fund’s apparatus. This group is limited to their founders, executives, or friends and is not permitted to act on behalf of the Lotus Fund in revenue generating activities.
Ongoing Projects
Medical assistant Project: support for poor people who have difficulty in treating their illnesses, needy cases unable to pay the cost of medicines, medical examination and treatment services. The Fund proceeds to build listening stations to receive information on medical assistance.
Low-cost meal Project: support the poor with low-priced meals / drinks through the shops, eateries, restaurant, etc. Provide delicious meals including water dishes such as Pho, beef noodle soup, noodles, chicken noodle etc. See more Organization
Education and skill training Project: Responsible for long-term projects such as training skill for children on the street, providing loans to small businesses, helping the poor to make a living, etc.
+ 3rd Smile Project – I go to school:
Head of project: Mr. Tran Trong Thuc
Sponsor and supervise the education of poor children who cannot go to school or are in danger of dropping out.
+ 7th Smile Project- Helping orphans
Head of project: Mr. Nguyen Ngoc Nghia
Sponsoring education for orphans in orphanages, compassion houses, and shelters.
+ 2nd Smile Project – School of love:
Head of project: Ms. Phan Thi Chau
Overtime classes give poor children a chance to learn
Construction Projects: Supporting houses of love for the lonely elderly, building bridges to help people escape poverty, schools for children in remote areas, projects to supply clean water to rural areas, etc.
Emergency relief Programs: Provide emergency assistance for people in areas hit by natural disasters and floods
Initial contribution
The Charity Fund operated from June 2018, then upgraded to Lotus Charity Foundation from July 2018 with an initial contribution of 5 billion VND gathered from the founders.