Policies & Disclosures

Fund Policies

What is a fund? A fund is a purpose set up on the books of ASSET India Foundation to support a particular mission, such as urgent needs in India. Donors give to AIF, which holds the gifts in the fund and grants them for that purpose.

Contributions. All contributions are irrevocable gifts to ASSET India Foundation. The fund is the property of AIF, and AIF has ultimate discretion and control over all property in the fund. Contributions are subject to AIF’s variance power, which means AIF retains full discretion and control at all times. The fund can only be used for the purposes stated for it. AIF may reject any contribution.

Distributions. All grants and distributions are exclusively for charitable or educational purposes under Section 170(c)(2) of the Internal Revenue Code and further AIF’s charitable purposes, as determined by AIF.

Fees. No fee is paid from gifts to Milaap. Payment processors, banks and giving platforms may deduct their own fees.

Donor-Advised Fund Gifts

AIF accepts grant recommendations from donor-advised funds sponsored by U.S. public charities. All grants are made to AIF for its charitable purposes. AIF will not accept a recommendation to satisfy a legally enforceable pledge or obligation of the advisor or the advisor’s family or affiliates, and no advisor may receive a return benefit, such as a ticket to an event, for a recommended grant.

State Nonprofit Disclosures

Certain states require written disclosures for nonprofit organizations soliciting contributions. [Counsel to confirm which states require registration, and insert each state’s required statement here.]

REGISTRATION WITH A STATE AGENCY DOES NOT CONSTITUTE OR IMPLY ENDORSEMENT, APPROVAL OR RECOMMENDATION BY THAT STATE.

Privacy Policy

Effective as of [DATE]. We are ASSET India Foundation, a 501(c)(3) public charity (EIN 20-5139364). This notice explains how we collect, use, share and protect information in connection with our charitable purpose.

Information we collect. Information you send us with a donation or inquiry, such as your name, email, address and payment details; information from giving platforms and donor-advised-fund sponsors when you give through them; and information collected automatically, such as browser and IP address.

How we use it. To process and acknowledge your gift, to communicate with you, to meet legal and tax obligations, and to protect against fraud. We do not sell, rent or trade donor information.

Who we share it with. Payment processors, banks, giving platforms and fund sponsors, Milaap and its service providers when needed to carry out our work, advisers, and authorities where the law requires. We follow each giving platform’s confidentiality rules and do not name donors or employers without permission.

Retention. We keep donation and compliance records for at least [5 to 7] years, or longer where the law requires.

Your rights. You can ask what we hold about you, and ask us to correct or delete it, subject to the law. Write to contact@assetindiafoundation.org. We respond within 30 days.

Document Retention Policy

ASSET India Foundation keeps records as the law requires and does not destroy records improperly. Governing documents, board minutes, Forms 990 and financial statements are kept permanently. Donation records, grant files and accounting records are kept at least seven years. Anti-money-laundering and identity records are kept at least five years. Anyone who learns of a lawsuit, investigation or audit must keep related records until told they can be released. The Principal Officer is responsible for this policy and reviews it every two years.

Whistleblower Policy

ASSET India Foundation encourages directors, volunteers, partners and others to report conduct they reasonably believe is illegal, fraudulent or against our policies, without fear of retaliation. Reports can be sent in writing to contact@assetindiafoundation.org or to the Chairman of the Board, and can be anonymous. No one who reports in good faith will be retaliated against. The Chairman acknowledges each report, ensures it is reviewed, keeps the reporter’s identity confidential where possible, and reports the outcome to the Board. The Board reviews this policy every year.

Conflict of Interest Policy

Directors and officers disclose any personal or financial interest in a matter before the Board, including any connection to Milaap, and leave the discussion and the vote on it. Only disinterested directors decide. Directors and officers sign a disclosure statement every year, and no director is paid.