Akshaya Patra Foundation (USA) Gifts Acceptance Policy
- The Akshaya Patra Foundation (USA) (“Akshaya Patra”) is a New York not-for-profit corporation that has been recognized by the Internal Revenue Service as 501(c)(3) public charity.
- Our mission is to simultaneously address childhood hunger and malnutrition and to promote education for underprivileged children in India. The nutritious school meals we serve act as incentive to get an education for children who might otherwise engage in menial labor to earn money for the families’ basic necessities. Our meals increase school enrollment, decrease drop-out rates, and improve student health and academic performance.
- The Akshaya Patra solicits and accepts gifts that are consistent with its mission.
- Donations will generally be accepted from individuals, partnerships, corporations, foundations, or other entities. Akshaya Patra may elect in its sole discretion to decline any donation.
- In the course of its regular fundraising activities, The Akshaya Patra Foundation (USA) accepts donations of money and, marketable securities.
- It will also accept gifts via bequests, as a beneficiary under life insurance policies or retirement plans and other forms of deferred gifts on a case by case basis where the payouts consist of money and publicly-traded, marketable securities.
- We cannot accept in-kind donations.
- Tickets to fundraising benefit events are non-refundable. If unable to attend, the ticket will be considered a donation and acknowledged accordingly.
- All donations to The Akshaya Patra are subject to this Gift Acceptance Policy. The Akshaya Patra’s website will post this Gift Acceptance Policy. In submitting their donation, donors are agreeing to be bound by this Gift Acceptance Policy. Akshaya Patra reserves the right at any time to revise or revoke this Gift Acceptance Policy and to make exceptions to this Gift Acceptance Policy.
- Nothing in this Gift Acceptance Policy is meant to constitute tax advice. Instead, donors should contact their own tax advisors.
TAX ACKNOWLEDGMENT AND THANK YOU POLICY
- The Akshaya Patra Foundation (USA) will provide tax acknowledgement/thank you for all gifts received provided it is given current contact information for the donor.
- Akshaya Patra will not give a tax acknowledgement for a gift:
- That is a corporate gift match. Donors will receive a tax acknowledgment for the amount of their original donation, but not the match amount donated by the company;
- That is made through a third-party donation system that gives tax acknowledgements to donors. In this circumstance, Akshaya Patra will send a thank you (without a tax acknowledgement) to the donor for the amount of the donation it receives.
- That is a compilation of funds raised by a fundraiser. In these circumstances, Akshaya Patra will ask its fundraiser to give it the names of the donors and the amount they donated so the individual donors may receive personal tax acknowledgements.
- To Akshaya Patra’s India or United Kingdom branch offices. The donor records for The Akshaya Patra Foundation (USA) are kept separate from its foreign affiliates and it cannot send a thank you or tax acknowledgement on behalf of its foreign affiliates. Donors should contact the foreign affiliates directly for assistance.
- That is given to Akshaya Patra by a donor who resides or is formed outside the United States. These donors will receive a thank you (without a tax acknowledgement) for their generous support.
- In compliance with United States tax law, Akshaya Patra will acknowledge stock donations at a value equal to the average of the high and the low for the stocks on the day the stocks are received by The Akshaya Patra Foundation (USA) stock brokerage account. Donors should contact Akshaya Patra prior to donating stock if they would like to receive tax acknowledgment, as stock donated without a corresponding call to Akshaya Patra cannot be tracked by Akshaya Patra’s stock broker in order to identify the donor. Akshaya Patra cannot advise donors on whether or not to sell their stocks before donating.
- If a donor chooses to make a check donation in honor of an individual, it is the responsibility of the donor to inform the honoree of the donation made in their honor. Akshaya Patra will not notify the honoree on behalf of the donor.
- To ensure that donations are always used to further the charitable mission of The Akshaya Patra , the board of directors of Akshaya Patra at all times retains full control over donated funds and discretion over their use. It supervises the use of grants and retains records showing that the grants have been used exclusively for 501(c)(3) purposes.
- Subject to the limitations set forth above, The Akshaya Patra will do its best to accommodate requests to sponsor school lunches in specific geographic regions, vehicles, or kitchen equipment, if:
- The gift is larger than $1,800;
- The gift is given in one installment.
Notwithstanding the preceding, the chairman, otherwise the board of directors, will nevertheless retain discretion (i) to ensure that the funds are being used in a manner consistent with Akshaya Patra’s charitable mission and (ii) the needs of the children Akshaya Patra serves.
- The Akshaya Patra will utilize funds raised by donor-run targeted campaigns in support of an established Fundraising Drive in www.foodforeducation.org Fundraising Campaigns system toward the item outlined in the Fundraising Drive. However, if by the Fundraising Drive expiration date the needed funds have not been raised or the item is no longer necessary, Akshaya Patra reserves the right to use the funds raised where they are needed most, as determined by the chairman, otherwise the board of directors, of Akshaya Patra.
- The Akshaya Patra will accept gifts to sponsor vehicles or kitchen equipment. Based on Akshaya Patra India’s current need, an item that a donor has chosen to sponsor may no longer be required. In these circumstances Akshaya Patra reserves the right to use the funds where they are most required.
- Due to privacy concerns as well as protection of the children it serves, Akshaya Patra cannot provide the name and/or location of schools sponsored by donors.
- Akshaya Patra tries to accommodate regional preferences specified by a donor for gifts that meet sponsorship requirements.
- The Akshaya Patra does not provide naming opportunities for gifts.
- In certain circumstances, The Akshaya Patra Foundation may require the donor to enter into a Gift Agreement or Pledge Agreement in order to set forth both parties’ understanding concerning the terms of a gift.