Overview
What is Iit Bombay Heritage Foundation?
The IIT Bombay Heritage Foundation is a charitable organization that primarily supports educational and research initiatives at the Indian Institute of Technology Bombay (IITB). In 2022, they awarded over 650 endowed scholarships and numerous chair professorships, granted funds for financial aid, faculty development, facilities, and infrastructure advancements, and sponsored various projects and programs. Their mission is to foster education and technological research at IITB. Additionally, they offer services such as alumni chapter activities, an interactive alumni web portal, and Google-administered email services. The foundation's activities are aimed at nurturing the growth and development of IIT Bombay.
Official website here: www.iitbombay.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Star Rating)
The Iit Bombay Heritage Foundation has achieved a solid Three-Star rating from Charity Navigator, indicating a commendable level of accountability and financial health. The overall score is derived entirely from a strong accountability and finance score, showcasing the foundation's effective governance and financial management practices.
One of the notable strengths of the organization lies in its high program expense ratio of 96.11%, reflecting a strong commitment to allocating resources towards its mission. Additionally, the foundation scored perfectly in several areas, such as audit oversight and the absence of material diversion of assets, demonstrating sound financial oversight and transparency.
While the foundation performs well in key accountability metrics, the three-star rating suggests there might be areas for further improvement in engagement or impact measurement. Overall, the Iit Bombay Heritage Foundation appears to be a reliable organization with robust financial practices, making it a worthy consideration for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Iit Bombay Heritage Foundation legitimate?
Iit Bombay Heritage Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Iit Bombay Heritage Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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Official website here: www.iitbombay.org
What is the mission statement of Iit Bombay Heritage Foundation?
The IIT Bombay Heritage Foundation's mission is centered around promoting educational and research activities at IIT Bombay. Through various grants, the foundation supports scholarships, excellence awards, chair professorships, faculty and student development, facilities and infrastructure development, and web-based services at the institution. These initiatives aim to foster academic growth, provide financial aid, fund research projects, and facilitate alumni engagement. The foundation's activities are geared towards enhancing the overall educational and research landscape at IIT Bombay.
Official website here: www.iitbombay.org
Who is the CEO of Iit Bombay Heritage Foundation?
Shamrao Kattimani is the Vice- Treasurer of Iit Bombay Heritage Foundation.
Official website here: www.iitbombay.org
What is the revenue of Iit Bombay Heritage Foundation?
Iit Bombay Heritage Foundation's revenue in 2022 was $3,951,115.
Official website here: www.iitbombay.org
Who are the executives of Iit Bombay Heritage Foundation and what are their salaries?
Here are 24 key members and their salaries:
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Official website here: www.iitbombay.org
Where can I find the form 990 for Iit Bombay Heritage Foundation?
Iit Bombay Heritage Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.iitbombay.org
Learn more at the official website: www.iitbombay.org
Mission Statement of Iit Bombay Heritage Foundation
The IIT Bombay Heritage Foundation is dedicated to advancing education and scientific research activities at the Indian Institute of Technology (IIT) Bombay. Their mission is to provide support through various grants, awards, and scholarships to promote excellence in teaching, faculty development, and student learning within the institution. In 2022 alone, the foundation awarded over 650 continuing endowed scholarships, 70 new scholarship awards, and funded numerous chair professorships, including the Prof. Rinti Banerjee Chair, the Kelkar Family Chair, and the Samir & Vinaya Kapoor Chair in Climate Studies.
Furthermore, the IIT Bombay Heritage Foundation supports various projects and initiatives to enhance the research capabilities of the institution. They have funded the Wadhwani Research Center for Bioengineering, the Wadhwani Electronics Lab, the Center for Machine Intelligence and Data Science, the High-Speed Flow Diagnostic Lab, the Brijraj Chandra Mansingh Chemical Instrumentation Laboratory, the Maker Space Facility, the Econometrics Laboratory, and the online M.Eng program in Innovation and Entrepreneurship. These grants help IIT Bombay purchase essential facilities, equipment, and infrastructure to further its research endeavors.
In addition to financial support, the IIT Bombay Heritage Foundation provides various services to engage with alumni. They operate an alumni web portal, administer Google-managed email accounts, and offer chat rooms, bulletin boards, and a jobs board to connect alumni. The foundation also supports professional, networking, and social events through alumni chapter activities, ensuring a strong connection between IIT Bombay and its alumni community.
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Impact
July, 2024
IIT Bombay Heritage Foundation has had a significant impact on promoting education, scientific, and technological research activities at IIT Bombay. In 2022 alone, the foundation awarded over 651 continuing Endowed Scholarships and numerous Chair Professorships, demonstrating a commitment to supporting academic excellence. Additionally, the foundation provided grants for faculty and student development projects, such as the Young Faculty Awards and the Gen Zero Women Project, contributing to the growth and advancement of the institute's academic community.
Furthermore, the foundation's support for facilities, equipment, and infrastructure development projects, such as the Wadhwani Research Center for Bioengineering and the Maker Space Facility, has enhanced the research capabilities at IIT Bombay. The foundation's contributions to initiatives like the COVID-19 Assistance Fund and the establishment of collaborative learning spaces demonstrate a holistic approach to supporting the institute's mission.
Through its grants, scholarships, and development projects, the IIT Bombay Heritage Foundation plays a crucial role in fostering a culture of excellence and innovation at IIT Bombay, ultimately contributing to the institute's reputation as a leading center for education and research in India and on the international stage.
This information is meant to be a general summary of Iit Bombay Heritage Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $226,711
- Program Service Revenue: $101,033
- Gross Receipts: $4,357,914
Assets and Liabilities:
- Total Assets: $12,314,331
- Total Liabilities: $37,616
- Net Assets: $12,276,715
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Contribution Alumni Event
Revenue
$101,033
Organization Details
Founding Year
1996
Phone
(408) 252-1664Principal Officer
Shamrao Kattimani
Main Address
21710 Stevens Creek Boulevard 115, Cupertino, CA, 95014
Website
www.iitbombay.orgNTEE Category
Code: Q113 - International
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