Inner Search Foundation is announcing an opportunity for donors to institute Awards in the form of Prizes, Scholarships, Fellowships, or any similar offerings. The Award can be under the name of a person, organization, or any establishment of the donor’s choosing. Inner Search Foundation invites individuals, families, businesses, institutes, or any such establishments to become Donors.
The donor may institute the Award for students, artists, writers, social workers, etc. The donor is entitled to name the Award, to specify the sector/discipline/specialization/branch and to set the criteria for the Award. Donor can also specify duration and frequency of the Award. Donor can be involved in the process of selecting a recipient of the Award or can be a member of selecting committee which chooses the Award recipient. Donor can also designate another individual to be involved in selecting process or be a member of selecting committee in their place. Awards can be instituted to encourage work, facilitate good work, honor good work, support good work, etc.
All donors will be required to deposit a minimum of 15 times the annual amount of the Award. The amount may be deposited by the donor in one or two installments within the first two years of the institution of the Award. However, the selection of the Award recipient shall be made only after sufficient funds are available to start the Award.
Inner Search Foundation reserves the right to refuse any Award institution request or demolish an existing Award if it does not or discontinues to be relevant to Inner Search Foundation’s mission.
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All monetary contributions to the foundation are exempted under Income Tax 80-G Act.