Flashstar Foundation
(Non Profit Organization)
Section 8 Public Limited Company
Flashstar Foundation operates as a non-profit organization registered as a section 8 Public Limited Company. It provides support to members in various areas such as business start-up, registration, Capital Raising, Management Consultancy, Statutory Compliance, and Tax Compliance, Crowed Funding and Social Security for members only.
A Social Security Program has been established for members of this NGO who come from Middle Class Families. In case of financial crisis, the concerned member will receive funds from other group members as a part of the social security group through a process of “crowd funding” to overcome their financial difficulties. As part of social security group each member will contribute only Rs.100/- to the affected member. Each member will already know the total members of the group. Each Social Security Group will have a maximum of 10,000 members. Each member can pay a maximum of Rs. 100/- will contribute. At present there is no such social security scheme available for general public in India or in the world.
The website www.sahakaradda.com offers a range of information and templates designed to assist the Housing Society Management Committee and its members in effectively managing the Co-operative Housing Society.
Our Activities
For become a member of Social Security Scheme following eligibility criteria should be completed.
- The applicant must hold Indian citizenship.
- If an individual holds a minimum of 10 company Equity Shares, they are considered eligible to enroll as a member in the Social Security Program. The lock-in period for transferring Equity shares after joining the Social Security Program is set at 3 years. The company will not distribute any dividends on Equity Shares. Equity Shares can be transferred after the lock-in period has ended, based on the book value, Net Asset Value, or a mutually agreed-upon value.
- If a member does not possess at least 10 Equity shares of the company, they will need to pay Rs.100 Membership Fees (Service & Account handling Charges) annually. Upon becoming a member, they will be eligible to participate in one or more Social Security programs without the need to pay a membership fee for each program.
- The applicant’s age must be between 18 and 65 years.
- He is expected to be a contributing (Earner) member of the family or to fulfill his commitment to the Social Security Group by making regular contributions of Rs.100/-.
- The nominee for this scheme can only be the spouse or legal heirs (children) of the Social Security Group Member.
- After becoming a member, he will have the opportunity to take part in one or more Social Security Programs based on his needs, with each Social Security program’s membership being assessed separately.
- This is not an Insurance Scheme and does not collect any Insurance Premiums.
- This fund raising program is based on the concept of “Crowd Funding”, where only NGO members who voluntarily commit to each other will contribute maximum of Rs.100/- for affected members, in accordance with the terms and conditions of the Social Security Group / Programs .
- Each member is required to make a commitment to contribute Rs.100/- to the affected member of the group, which is referred to as one credit.
- Each member is required to contribute at least one credit (Rs.100) to every Social Security Programme and must maintain a minimum number of “credits” in their company account within a specified timeframe in order to remain a member of the Social Security Group.
Non - Commitment Crowdfunding
Crowdfunding - for
General Member
A General Member is permitted to seek Crowdfunding (Financial) exclusively from other group members (not the public) for various purposes, such as Medical Expenses, Educational Needs, Natural Disaster Relief, or Business Funding (Loan/Debt/Capital), without any obligation.
This initiative is exclusively for members and does not involve public participation. The NGO is unable to provide any security or guarantee regarding the generation of funds. Participation is entirely voluntary; members may choose to contribute an amount of their own choosing, without any obligation or requirement to donate a specific sum.
Pree Commitmement Crowdfunding
Cancer Treatment -Crowdfunding Programme
Individuals diagnosed with cancer who are members of this Social Security Program for Cancer treatment will be eligible to receive financial assistance of up to Rs. 50,00,000/-.
Currently, the cost of cancer treatment is exceedingly high/expensive, frequently forcing cancer patients to seek medical treatment/care abroad, with expenses varying between 10 lakhs and 60 lakhs rupees. Consequently, it is crucial for us to together/unite and commit to a minimum contribution of Rs.100 whenever a member of our group receives a cancer diagnosis.
Death Benefit - Crowdfunding Programme
The spouse or legal heir of the applicant will receive financial support of up to Rs.10,00,000/-.
In the unfortunate circumstance of a Group Member’s premature demise within the Flashstar Foundation’s “Social Security Programme,” whether resulting from natural causes or an accident, the remaining household member may experience financial hardships. To mitigate this challenge, financial assistance is extended to the grieving member by fellow participants in the Programme. This Group each member will contributing a fixed amount of Rs.100/-.
Survival Pension - Crowdfunding Programme
Following the premature passing of her husband, his wife will receive a monthly pension of Rs. 10,000 to support her in the years to come.
In the event of an untimely death due to natural causes, accidents, or illness, as well as in cases of permanent disability rated at 75% or higher and the loss of employment of her husband, this Social Security program offered by the NGO (Flashstar Foundation) will provide a monthly pension of Rs. 10,000/- to support the family financially.
Interest Free Education Loan - Crowdfunding Programme
In the event of the untimely passing of a father who is the primary earner, the children in this group are entitled to receive an interest-free educational loan to support their complete education.
The Social Security Program is specifically tailored for children. In the unfortunate event of a his/her father’s premature death, there may be a detrimental effect on the children’s education due to financial difficulties. In such circumstances, the children of the affected family will be eligible for an interest-free educational loan. The repayment of this loan will commence once the child secures employment, with monthly installments set at 10% of their salary.
Senior Citizen Medical Treatment - Crowdfunding Programme
Typically, individuals retire from their professional careers upon reaching the age of 60. At this stage, their primary source of income ceases. Members of the group gather resources to cover significant medical expenses.
Furthermore, many individuals over 60 begin to experience various health issues. While some senior citizens possess adequate financial resources, others may struggle to afford necessary medical care. In the event that medical expenses exceed 5 lakhs, other members shall contribute a maximum up to Rs. 100 towards the medical treatment of fellow members.
Natural Disaster Aid - Crowdfunding Programme
His Family will get Emergency Assistance Food, Drinking Water, Medicines, Shifting, Cloths, Bedding, Shelter etc
In case of untimely death of a member of the Social Security Scheme of Flashstar Foundation due to accident or illness, or permanent disability and loss of employment, to initiate a one time financial assistance to the member.
Daughter's Marriage -Crowdfunding Programme
After you your Nominated Daughter will get Financial Assistance for her Marriage Expenses Rs. 10,00,000/-
In case of untimely death of a (Father) member of the Social Security Scheme of Flashstar Foundation due to accident or illness, or permanent disability and loss of employment, Rs.10 lakhs will be given for the marriage of that girl after the member