February Updates

Dear PABFONE / Boston Saptaha Donors,

We have many updates to share with you all today.

We have collected over $100K after the townhall meeting in October, 2017. We are publishing the full details in the Saptaha website https://bostonsaptaha.org/.

PABFONE now has cash resources of around $625K (All receipts: Boston Saptaha, Deusi Bhailo and miscellaneous) and the major portion of the money has been kept in money market account earning interest.

The property search work has been a little bit slower, as this is not the season of real estate transactions. However, we are grabbing every opportunity to find a place, even though they are off the market. Currently, there is one property in Arlington under consideration, and one property in Somerville under communication with the City of Somerville.

We have established relationship with Leader Bank, who is supporting us with mortgage when we need that. Leader Bank is also helping us with the property search, and we are working with them on a system to collect pledged amounts by way of monthly deductions from those who would prefer to pay in installments.

We are also working on creating a new website for PABFONE, which will be a secured website to protect our information. Side by side, we are working on a data management system to manage the donor’s data and receivables we currently have.

PABFONE treasury team now has an office at 68 Broadway, Arlington, MA. All your checks can now be mailed (or dropped off during office hours) to this address.

You can also drop off the checks at Bombay Market in Somerville or at the office of Pushkar Neupane, CPA at Assembly Square.

If you need receipt for your donation, please email to bostonsaptaha@gmail.com. We will be happy to forward the donation receipts to you in email.

We request you all to keep paying your pledged amount, as much as possible so that we will be ready when the market opens in April.

Please let us know if you have any questions.

PABFONE Treasury Team
February 15, 2018