1. How does the fund collection would work in general? I am assuming that individuals would go to TCF USA site and give their contribution there. Along with it they would provide in comment the Name of the school for which they are contributing so we will keep an account of the funds for this initiative. Is this correct assumption?
Yes this is correct for US based donors. Please see the TCF-USA website for donation methods.
2. Is there any processing fee associated with the funds collected?
Credit Card donations incur a 2.5% processing fee. There is no cost to TCF if the donation is by cheque or ACH withdrawal from the donors bank to ours. We recommend “cheque” instead of Credit Card/ Online donations for large contributions (example: for a $5K donation online, TCF-USA would have to pay $125 in bank fees, and get only $4,875 net)
3. I am assuming that folks can contribute with their Zakat Money?
Yes, we do accept Zakat donations.
4. How does fund collection would work for people contributing outside of USA - How can we keep an account of their contributions?
Most donors can donate in the country where they live, we have chapters and related web sites all over. TCF Pakistan, TCF Canada & TCF-UK. All donors are requested to let their nearest leads/ volunteers know that they are donating for the GIKI Alumni School project. This is merely for record keeping/ matching with TCF. TCF-USA will work with TCF Head Office in Karachi to maintain records and provide updates to the designated GIKI Alumni coordinator.
1. What are the obligations on MoU signatories (Ameen Ashraf, Zia Syed, Masood Siddiqi) going forward?
To coordinate the fund raising drive and encourage all GIKI alumni to contribute.
2. Is there any financial obligation on signatory in case the proposed goals were not met for one reason or another?
There are no “legal” obligations, only a moral obligation to do your best. This is a declaration of intent and it helps resolve any misunderstanding down the line as to what both TCF and the GIKI alumni agreed to do.
1. Is there a general breakdown of the Building cost that is available?
Details on the building cost are available on the project costing page.
2. Is there an option for just “Building School” and keeping a separate commitment (depending on our progress) for 3-yr running costs?
Unfortunately not. With 1,441 school units running costs are the major cost item in our budget. TCF asks donors who wish to Build a School to at least commit to the first 3 Years running costs. The GIKI alumni does have an option of spreading this cost over three years.
3. Is the inflation being adjusted in the initial cost that was proposed? I am hoping the cost would not change over the period of fund collection.
Yes, the amounts in Option 2 for running costs (spreading them over three years) are spelt out in the proposal. They will not change over the period of fund collection. More details are available on the project costing page.
1. What is the lead time from initial commitment of first installment + Signing of MOU to the start of construction for the school?
The normal lead time is 12 to 14 months. However since the next school year will start in April 2018, we will start classes in borrowed/ rented facilities in April 2018 and move the students to the new school when it is completed in the Fall.