FAQ

1.     How can I ensure my donation will go to the designated cause?

Fiscal responsibility and transparency are important to IIT Bombay. We have a dedicated team at ACR office that ensure that all donated funds are used efficiently to the designated cause.

2.     How do I make a donation in honour or memory of someone?

It’s easy to celebrate the life of a loved one by making a donation to the IIT Bombay in their honour or memory. You can contact at batchlegacy@iitbacr.com to know the details and process of the naming, cause, and donation process.

3.     How do inform that my donation assigned to a specific cause in a legacy project? For eg: Donating to C2000 legacy project but for Name scholarship.

While donating in USA and UK, you can mention in the comment field and while donating in India or from any other country, mail to batchlegacy@iitbacr.com. We will ensure your donation is diverted to the assigned cause from legacy project pool.

4.     What Tax benefit do I get by donating to IIT Bombay

Any donation to IIT Bombay in India is eligible for 100% tax exemption with no upper limit under 80G. Please consult with your financial and tax advisers regarding your specific situation.

5.     As a US taxpayer, what Tax benefit do I get by donating to IIT Bombay?

US taxpayers can made donations via IIT Bombay Heritage Foundation (IITBHF), which is a 501(c)(3) organization, are generally tax-deductible under US tax law.  IITBHF’s US Federal Tax ID number is 77-0428724. Please consult with your financial and tax advisers regarding your specific situation.

To understand how to maximise the value of your donation, please check out at https://www.notion.so/hypertrack/Giving-100k-to-IIT-Bombay-23c29a95bebd802099f1c09b263bd570

6.     As a UK taxpayer, what Tax benefit do I get by donating to IIT Bombay?

UK taxpayers can claim tax relief for their donation made via IITUK. IIT Alumni UK is a registered charity, duly registered and regulated by the Charities Commission. Please ensure to select claim Gift Aid, which allows your donation to be topped up by 25%.

7.     I have filled the pledge form, what next?

You can make direct contributions using the following links.

For USA, alumni can donate at: https://www.iitbombay.org/g/legacy-projects (Please mention C2000 legacy project while donating)

For India, alumni can donate at: https://portal.acr.iitbombay.org/payments?funds=ODQ%3D

For UK, alumni can donate at : https://www.nowdonate.com/checkout/o86a8nfta2u2n9398w7l

For Canada, alumni can donate at:

https://portal.acr.iitbombay.org/payments/canada

(Please mention C2000 legacy project while donating)

8.     For Non-US, non-UK, and also in India, the best way is to donate via Bank Transfer to IIT Bombay account is as follows:

While doing NEFT/RTGS/IMPS, please mention in the comment C2000 legacy project. Additionally, also notify batchlegacy@iitbacr.com with the details like Name, Address, Contact Number, Pan no. and GST no. (if donating through company). This will assist in creating donation receipt for the donor.

State Bank of India, Powai, Mumbai

Account Name: IIT Bombay Donation Account

Account No: 10725730111

Swift Code: SBININBB519

IFSC Code: SBIN0001109

Account Type: Current

ICICI Bank, Powai, Mumbai

Account Name: IIT Bombay Donation Account

Account No: 002001027634

IFSC Code: ICIC0000020

Account Type: Current

9.     Whom should I send donations to, if I live in US, India, UK or elsewhere?

In India, contributions are accepted through methods such as cheques, bank transfers, credit cards, real estate, and bequests. In the USA, donations are accepted via cheque, bank transfer, PayPal/Credit card, bequests, securities, wire transfer, and cryptocurrency. In the UK, contributions are accepted through credit card. Please contact HF office at hfoffice-group@iitbombay.org for any query related to donations in the USA and batchlegacy@iitbacr.com for any donation related query in India or any other country.

10.  How do I donate shares/stocks, for different geographical locations (US, India, rest of the world)

US Residents, who wish to donate by contributing securities, please contact IITBHF at +1 (408) 252-1664 or write to hfoffice-group@iitbombay.org for instructions.

Those who want to donate through shares/stocks in India can write to Purva Jain at batchlegacy@iitbacr.com

11.  Should I include company matching amount in the total value of the pledge?

Yes, you can pledge the total amount that includes your company's matching amount. Please contact your company HR to start the company matching process.

12.  I have not received the receipt after donation.

Automated receipt gets generated in online mode of donation.

In case you have donated through cheque, NEFT transfer or any other offline mode. Please inform us at batchlegacy@iitbacr.com with Full Name, Purpose, Address, PAN number and GST number (if donating through company) to prepare donation receipt in your name. Please contact hfoffice-group@iitbombay.org in case you have any queries related to USD donations.

13.  My donations are failing. What do I do?

If you’re facing an error for online donation, please contact our support team at batchlegacy@iitbacr.com. Please contact hfoffice-group@iitbombay.org in case you have any queries related to USD donations.

14.  Can I make a donation from a Donor Advised Fund (DAF) for the Class of 2000 Legacy Project at IIT Bombay Heritage Foundation if I'm in the US?

Yes, if you're in the US, you have the option to use a Donor Advised Fund (DAF). To make a donation, select IIT Bombay Heritage Foundation as the charity, specify the donation amount, and use the comment field to indicate the purpose, recommending "Class of 2000 Legacy Project." IIT Bombay Heritage Foundation is recognized by various Donor Advised Funds, including Fidelity. The funds are typically transferred electronically within days for a swift and efficient donation process. Ensure that your Donor Advised Fund recognizes IIT Bombay Heritage Foundation for proper allocation.

15.  How can I contribute via Benevity? Can I set up recurring donations, and is your Benevity Self-Certification assessment up to date?

Please contact HF office at hfoffice-group@iitbombay.org for setting up the company matching gifts or contributing via Benevity. Yes, you can set up recurring donations through Benevity for added convenience. Rest assured, our Benevity Self-Certification assessment is complete and current, ensuring the accuracy and transparency of our information.

16.  How do I make a Qualified Charitable Distribution from my IRA to IIT?

IIT Alumni based in the US who are required to make a Required Minimum Distributions (RMDs) may make a Qualified Charitable Distribution (QCD) from their IRA to the IIT Bombay Heritage Foundation (IITBHF) which is a 501(c)(3) qualified to accept QCDs. Please consult the custodian of your IRA or your financial advisor regarding the tax advantages. They can help you initiate either an electronic transfer of funds or a check directly to IITBHF from your IRA. Please have them indicate in the memo section that the funds are to be used for “Class of 2000 Legacy Project.” 

17.  As an Indian taxpayer, what exemptions do I get on the donation in my taxes in India?

Donations made to IIT Bombay by corporate bodies and individuals are wholly tax deductible under section 80G of the Indian Income Tax Act. Donations made via the IIT Bombay Heritage Foundation (IITBHF) , which is a 501(c)(3) organization, are generally tax-deductible under US tax law.  IITBHF’s US Federal Tax ID number is 77-0428724. Please do consult your CA/Tax consultant for your particular tax scenario. As per the Indian Income Tax Department’s rules, a donor is required to add their Full Name, Address and PAN number in case they wish to claim tax exemption under Sec 80G. 

Please email hfoffice-group@iitbombay.org for the QCD transfer. The IITBHF office will share the detailed information on the same.