Building Financial Policies for Sprihena Lives Foundation

This project was aimed to develop comprehensive financial policies for a newly - established nonprofit organization.
Sprihena Lives Foundation
Mahip DD Charan, Project Coordinator

Sprihena Lives Foundation (SLF) is a non- profit organization registered under section 08 of the Indian Companies Act 2013. The organization was established in 2019 in the rural area of Rajsamand, Rajasthan to improve the quality of healthcare in India.

Prashant Kumar
Group Head Regulatory, Tata Power

Prashant is a finance professional specialised in finance policy development. As a first time ProEngager, when he received the email about volunteering opportunities, he felt it was very appealing.


Project Execution

Sprihena Lives Foundation director Mahip always believed that every organization, especially if it comes to finance should run on the basis of policies. As a newly-established organization, they needed to establish a framework around their expenditures, finances management and grants distribution.

After getting connected, Prashant had a phone call discussion with the NGO director to find out what kind of policies they are missing. He understood that he needed to make comprehensive policies that also included administration of funds and designations. As Mahip recollects: “Prashant is a highly qualified and very experienced professional, it made me really relieved, because I didn’t have to explain a lot in detail. He very easily grabbed our requirement.” 

Once Prashant received the regulatory documents from Mahip he started to work on the initial draft of the policies. He mentioned that during the process the NGO was very supportive in providing necessary documents. After the first draft, Prashant learned that the NGO also needs a depreciation policies document. Although the scope of the project was bigger than initially expected, Prashant managed to satisfy all the NGO requirements and submitted all the documents.

Sprihena Lives foundation had put the policies created by Prashant into effect from July 1, 2020. After this date everything related to finance will be covered by these policies. As Mahip mentions: “It will definitely impact us, on organization level, staff level and ultimately the beneficiaries also. Since from all the funds we received we should make sure that maximum is going to the beneficiaries so we can bring the changes for which the project was designed and we have received the grant.”

Challenges faced

Mahip felt that the project was so smooth because it was so easy and convenient to work with Prashant. The only challenge Prashant felt was after project submission. Since it was during the time of covid pandemic and the country went under lockdown, he lost communication with the NGO after submitting the final documentation, so he wasn’t sure whether the policies were approved by their board and implemented. He only learned from Chezuba that the NGO has approved the policies. 

The pandemic heavily affected the Sprihena Lives Foundation as they are running one of the primary health centers in their locality. The entire team was busy with covid relief work. Despite that they deeply appreciate Prashant’s work and impact on their organization and want to connect with him to show their appreciation.

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“Prashant is a hIghly qualified candidate, he has upgraded knowledge about the sector. Anybody who will have a chance to work with him would be happy as he can provide a great support.”

“This is the best platform to use your skills for upliftment of the society. Whatever skill you have you should not only use it for yourself, but use it for society. Tata Group has already a history of this kind of work. You have to develop the whole society to ensure sustainable development in all areas.”