ANS/CA - Veda & Kyana Joshi Scholarship Fund earned an interest income of $3,717.43 ($3,546.69 from CD and 24.58 from Savings account and $146.16 interest from D.B.Alex Brown - (BRCM account). Scholarship Grant was $1,800.00. Total donation received 1,200.00 (Virgil & Stephanie Day $300.00, Ananta & Rajju Malla $300.00 in the memory of Anantas late father and Veda Joshi $600.00). Re-deposit of $400.00 returned grant check sent to Ms Anu Maharjan in 2006. Fund balance: $90,000.00 CD and $11,783.30 in Savings Account. $90,000.00 CD which was making 3.93% interest was renewed for 7 months CD at 4.27% on Jan. 6, 2008. BRCM 165 stock worth $4,313.10@26.14 per share and Money Mkt. Fund (cash) $3,212.79. (BRCM stock split 2 to 3 on 2-21-06 @ 70.28 and 110 Stk became 165 Stk).
The direct donations were used to cover the grant since 2005. Considering direct donation for scholarship grant we have a balance of $2,082.25 in Washington Mutual Bank + $306.39 in DBAlex Bank., i.e. a total of $2,388.64 available for grant. Without applying the direct donation, the interest income available for grant Savings account is $882.25.
Grant of $200.00 ($100.00 each to Mr. Raj Kumar Maharjan and Ms Lasmi Lama Thokar- newly selected bachelor scholars) recently sent as first installment of grant for the first year is not included in this report.