The questions asked in this section of the application describe your organization’s financial history and current fiscal health. We need to ensure that all organizations to which we provide debt or grants have the ability and experience to efficiently utilize that capital. We ask different questions depending on if your organization is an enterprise or a non-profit.
Note: All financial documentation and figures must be submitted in INR. No other currencies will be considered.
In this article, we highlight each of the financial questions we ask in the application, explain why we ask it, address any common concerns around each question and provide you with resources/examples as needed.
There are multiple questions that applicants already answered in the Expression of Interest (EOI) stage. You will not be required to answer these again but you are encouraged to update your responses based on feedback that you received on your EOI. All of the questions from the EOI will be written in green below, in case you wish to review the guidance again.
If you have any further questions, you add them below as a comment or submit them here, and our support team will try to address them.
Questions for Non-Profit Organizations
Questions for For-Profit Organizations
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- Organization type
- Revenues in INR for FY 2020-21, 2021-22, and 2022-23
- Profit (EBITDA) for FY 2022-23
- Upload your organization's audited financial certificates for FY 2020-21, 2021-22, 2022-23
- Upload your 2023 Bank Statements
- Projected revenues in INR for 2023-24
- How does your business generate income?
- Does your organization have any loans on their current balance sheet
Questions for Non-Profit Organizations
Q: Total budget in INR for FY 2020-21, 2021-22 and 2022-23*
Why we ask this question:
An organization's operating budget allows us to understand how much money your organization has managed over the last three years. These data points allow us to gauge if an organization has the ability and experience to absorb a maximum sized grant.
How we define a "budget"? Budget denotes the total amount of money managed by your organization in the given year, converted into INR.
Q: Upload your organization’s audited financial certificates for FY 2020-21, 2021-22, 2022-23*
Why we ask this question:
By uploading your organization's financial statements, we can verify that your reported totals are accurate and we can gain a deeper understanding of your organization's ability to track your finances accurately and transparently.
In what format should budgets be uploaded? We prefer financial statements in signed PDF files, but we will accept financials in spreadsheet format as well. Do not submit files in any other format.
What should my uploaded budget documents cover? Budgets must detail your entire organization's expenses.
Do my budgets need to be audited? Yes, audited budgets are required.
Q: In the past 36 months, who provided you funding, what type of funding did you receive, and how much funding did you receive? *
Why we ask this question:
We ask project developers to submit information about their past funders, including their funding sources, the types of funding received, and the amounts received, so we can better evaluate the capacity of the organization to manage and effectively utilize Harit Bharat Fund finance. This information also allows us to identify potential conflicts of interest, as well as to understand the broader funding context for restoration projects in the region.
For each of the funders that provided you more than INR 8 lakhs in the past 36 months, list the organization or individual’s name, the amount that you received in INR, and the type of financing that the funder provided. Do not use commas or full stops when adding in these numbers.
Definitions for each of these types of financing can be found below:
- Grant from Foundation/Donor: This is a financial donation given to an organization by a foundation, non-profit, corporation, or other non-government funder.
- Public Grant from Government: This is a financial donation given to an organization by a government agency or institution. This can be funding that you raised through convergence with government schemes.
- Loan/Credit Finance from Private Bank or Investor: This is an agreement between parties involving a financial contract in which the lender provides the borrower an amount of capital that must be repaid, usually at a specified interest rate.
- Equity from Private Investor: Equity is an ownership interest in business and is a way of raising capital by selling shares to investors. Equity finance gives shareholders a stake in the company's long-term growth and performance.
- Product Offtake Contract: This type of contract guarantees the purchase of future goods between the seller of a product and a buyer (the ‘offtaker’).
- Carbon Credit Contract: This is a contract between a carbon credit seller and a buyer to purchase verified carbon credits from a tree-growing project that sequesters carbon dioxide.
- Public/Private Payments for Ecosystem Services: Payments for ecosystem services (PES) are financial incentives offered to farmers or landowners for managing their land to provide ecological services. For example, this can include payments from governments or private sector funders for watershed control and erosion prevention.
- Other: This is any additional source of financing not defined in the above categories.
Q: How did you raise the funding indicated in the previous question?*
Why we ask this question:
We would like more details about the fundraising strategy, donor relationships, and how this impacted your financial sustainability.
What are we looking for? We expect you to provide a clear and transparent explanation of how your organization raised each of the funding sources indicated in the previous question. This could include information about fundraising events, grant applications, crowdfunding campaigns, individual donations, and corporate sponsorships. The response should provide sufficient detail to allow the reviewers of your application to assess your organization's ability to effectively raise funds and manage finances. This information remains strictly confidential.
Questions for For-Profit Organizations
Q: What is your organization type?*
Why we ask this question:
Understanding your organization type will be necessary in order to properly assess your financials and business model.
Please select on of the following categories: Private Limited, LLP, Registered Partnership, Sole Proprietorship, Other.
Q: If you selected "other" above, explain your current organization type.
Please explain the legal status of the enterprise. Please note, Harit Bharat Fund finances only duly registered entities.
Q: Revenues in INR for FY 2020-21, 2021-22, and 2022-23*
Why we ask this question:
Seeing a company's revenues allows us to understand how much money your organization has generated in gross income over the last three years. These data points allow us to gauge if an organization has the ability and experience to absorb a loan.
How we define revenues? Revenues are the total amount of income generated by the sale of goods or services related to your company's primary operations in a given year, before deductions. Revenues are paid to the company by customers. Revenues do not include grants that paid for any operations. In some countries, revenues are referred to as "turnover."
Q: How much profit (EBITDA) did you earn in FY 2022-23*
Why we ask this question:
Seeing a company's profits allows our team to understand the viability of your company's business model and operations. These data points allow us to gauge if an organization has the ability and experience to absorb a loan.
What is EBITDA? Earnings before interest, taxes, depreciation, and amortization (EBITDA), is an alternate measure of profitability to net income. By stripping out the non-cash depreciation and amortization expense as well as taxes and debt costs dependent on the capital structure, EBITDA attempts to represent cash profit generated by the company’s operations.
For more information on how to calculate this, review this article.
Q: If available, upload the latest audited financials statements for FY 2020-21, 2021-22, and 2022-23.
Why we ask this question:
By uploading your organization's financial statements we can verify that your totals reported are accurate and we can gain a deeper understanding of your organization ability to track your finances clearly.
What formats can I upload my financial statements? We prefer financial statements in signed PDF files, but we will accept financials in spreadsheet format as well. Do not submit files in any other format.
What should my uploaded financial statements include? Please ensure that you have uploaded all financial information necessary to assess the health of your business. Your upload should include a profit & loss / income statement and a balance sheet. Upload multiple files, if necessary.
Do my financial statements need to be audited? Audited financial statements are preferred for for-profit organizations, but are not required at this stage.
Are these documents required? For-profit organizations are not required to submit these financial documents, but it is highly encouraged. They will be required at the full application stage.
Q: What are your revenues in INR for FY 2023-24?*
Why we ask this question:
We ask for the project revenues to understand how much gross income you are planning to generate this year. This should not include the money you could be awarded through this grant opportunity.
How we define revenues? Revenues are the total amount of income generated by the sale of goods or services related to your company's primary operations in a given year, before deductions. Revenues are paid to the company by customers. Revenues do not include grants that paid for any operations. In some countries, revenues are referred to as "turnover."
What should we submit as our projected revenue: For the current year, you can submit the number on your annual projections, as approved by your leadership team.
Q: Please upload your organization’s bank statements from 1 September 2022 to 31 August 2023.*
Why we ask this question:
Requesting recent bank statements allows us to evaluate the financial health and performance of your company, as well as to identify any potential risks or issues that may need to be addressed before funding can be provided..
What we are looking for? As part of the application process for Harit Bharat Fund, we require organizations to submit their bank statements from the past year. This information is kept confidential and is only used for the purpose of evaluating the financial health and performance of the organization.
We understand that financial documents can be sensitive, and we take the security and privacy of our partners' information seriously. We have implemented secure document management systems to ensure that all financial information is kept confidential and is only accessible by authorized personnel.
We encourage organizations to ensure that their bank statements are up-to-date and accurately reflect their financial activities. By providing this information, organizations can demonstrate their financial stability and accountability, which can increase their chances of receiving funding from Harit Bharat Fund. You can submit information pertaining to multiple bank accounts for this question, as long as these accounts are registered to your organization.
Q: How does your business generate income?*
Why we ask this question:
Understanding your business model and how you generate income is critical to assessing your feasibility for a loan. How you generate income and the value chains that you incorporate are an essential part of your financial model and overall impact.
How do I address this question? Please provide an overview of your business model and key customers. Our team wants to understand how your organization has grown and the activities that are essential to your work. For instance, you can describe any products or services that your company offers and how you manage operations in order to generate income for your enterprise. Please be detailed.
Q: Does your organization have any loans on their current balance sheet?*
Why we ask this question:
Seeing a company's current financial standing allows our team to understand the viability of your company's business model and operations. These data points allow us to gauge if an organization has the ability and experience to absorb a loan.
Please select yes or no for this question.
Q: If yes, please state the current outstanding amount*
Please provide exactly how much debt you currently have on your balance sheet. This amount should be in INR. We will crosscheck this figure with your submitted financial documentation. Existing loans do not preclude further investment from Harit Bharat Fund.
Q: If yes, what is the purpose of the loans*
Please select from the different categories of business requirements provided in the checklist.
What are the options I can select from? You many select from the following: Working Capital, Team and New Hires, Marketing, Capital Investment, and Other.
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