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Keralaassociation Dallas
Jan 15, 2014, 12:01:35 AM1/15/14
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India Cultural and Education Center
Kerala Association of Dallas
Dear Friends:
It is two years now since the India Cultural and Education Center was established at the initiative of the Kerala Association. The Center occupies a prominent location in the city of Garland (3821 Broadway Blvd., Garland, TX 75043). The seven thousand sq. ft. building is located in a three acre plot of land. The main features of the facility include a children’s park, a flood lit soccer field, gym, and a 71 car parking lot. The Center also features two party/meeting halls that can accommodate 200 and 100 people respectively. Among the services currently offered from the building are a drum class, a dance school, and a tutoring center. This is a unique achievement for the Malayalee community of DFW as no community organization – either Malayalee or even Indian – has been able to establish such a center so far in North America.
The India Cultural and Education Center was made possible by the generosity of the members of the community. More than a thousand families contributed amounts from $100 to $25,000. We acquired the facility for $650,000. Today, it is valued at over $1 million. We made a down payment of $450,000 and took out a loan for $200,000 to acquire this facility. Our monthly payment on the 20-year mortgage loan comes to $1400 per month. In addition, expenses such us utilities, maintenance, lawn care, cleaning etc. run to about $2500 per month. Thus, we need a cash flow of about $4000 per month to run the center. We are increasingly finding it difficult to meet this cash need from the membership income of the Kerala Association and the occasional rent we collect for use of our facilities.
The potential for reducing expenses for such items as utilities, lawn care, maintenance, and cleaning is clearly very limited. On the other hand, if we are able to reduce the mortgage payment from $1400 to a lower amount, it may become possible to meet our recurring expenses from our income. Therefore, our goal is to raise another $50,000 for the building fund so that we can refinance and bring the monthly payments to a lower and more manageable amount.
We appeal those who have not so far donated to the building fund to come forward and become a part of our community’s accomplishment. If those who donated less than $1000 can bring it up to $1000, they will become eligible for everlasting membership of the center that can be transferred from generation to generation. In addition, they will have the privilege of a one-time free use of the main hall of the Center.
We have a large alumnus of individuals who were members of our youth committees, participants of youth programs, spelling bees, speech and art competitions, and recipients of our education awards. Many of these individuals are currently well settled with good jobs and families. These individuals are an integral part of our community and the center is a legacy that will eventually be passed on to them. We gratefully acknowledge the donations from many of these individuals and request the remaining to come forward and contribute to the Building Fund.
Once again, we request all members of the Indian community to take into consideration the situation we are facing and open their hearts and wallets to help us put the India Cultural and Education Center on a more solid financial footing.
ICEC & KAD
President/Secretary President/Secretary
Kerala Association of Dallas
Dear Friends:
It is two years now since the India Cultural and Education Center was established at the initiative of the Kerala Association. The Center occupies a prominent location in the city of Garland (3821 Broadway Blvd., Garland, TX 75043). The seven thousand sq. ft. building is located in a three acre plot of land. The main features of the facility include a children’s park, a flood lit soccer field, gym, and a 71 car parking lot. The Center also features two party/meeting halls that can accommodate 200 and 100 people respectively. Among the services currently offered from the building are a drum class, a dance school, and a tutoring center. This is a unique achievement for the Malayalee community of DFW as no community organization – either Malayalee or even Indian – has been able to establish such a center so far in North America.
The India Cultural and Education Center was made possible by the generosity of the members of the community. More than a thousand families contributed amounts from $100 to $25,000. We acquired the facility for $650,000. Today, it is valued at over $1 million. We made a down payment of $450,000 and took out a loan for $200,000 to acquire this facility. Our monthly payment on the 20-year mortgage loan comes to $1400 per month. In addition, expenses such us utilities, maintenance, lawn care, cleaning etc. run to about $2500 per month. Thus, we need a cash flow of about $4000 per month to run the center. We are increasingly finding it difficult to meet this cash need from the membership income of the Kerala Association and the occasional rent we collect for use of our facilities.
The potential for reducing expenses for such items as utilities, lawn care, maintenance, and cleaning is clearly very limited. On the other hand, if we are able to reduce the mortgage payment from $1400 to a lower amount, it may become possible to meet our recurring expenses from our income. Therefore, our goal is to raise another $50,000 for the building fund so that we can refinance and bring the monthly payments to a lower and more manageable amount.
We appeal those who have not so far donated to the building fund to come forward and become a part of our community’s accomplishment. If those who donated less than $1000 can bring it up to $1000, they will become eligible for everlasting membership of the center that can be transferred from generation to generation. In addition, they will have the privilege of a one-time free use of the main hall of the Center.
We have a large alumnus of individuals who were members of our youth committees, participants of youth programs, spelling bees, speech and art competitions, and recipients of our education awards. Many of these individuals are currently well settled with good jobs and families. These individuals are an integral part of our community and the center is a legacy that will eventually be passed on to them. We gratefully acknowledge the donations from many of these individuals and request the remaining to come forward and contribute to the Building Fund.
Once again, we request all members of the Indian community to take into consideration the situation we are facing and open their hearts and wallets to help us put the India Cultural and Education Center on a more solid financial footing.
ICEC & KAD
President/Secretary President/Secretary
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