World Family Forum believes that extreme poverty is the root of all social evils. In order to eradicate extreme poverty, trade is the only long term self- sustaining alternative, contrary to popular dependence on aid and charity. World Family Forum will create necessary infrastructures to facilitate vibrant trade activities in the field of Buying & Sourcing Services, Tourism, Vocational and Professional Training, Guest Houses & Hostels to generate surplus funds. 75% of these surplus funds will be given to World Family Forum Trust for its social obligations, while 25% of such funds will be reinvested back to trade activities for improving infrastructure. This will serve as a core method of funding, providing much needed remunerative employment to the grassroots.
Funding of Projects
The Director of Income Tax (Exemptions), Government of India, New Delhi has registered World Family Forum under section 12-A of the Income Tax Act 1961 vide Registration # DIT(E)/2007-2008/W-185/04/453 dated 30th August 2007. Through Exemption Order # DIT(E)/2007-08/W-185/04/1225 dated 30thAugust 2007 all donations made to World Family Forum are exempted from Income Tax under Section 80G of the Indian Income Tax Act to the tune of 50%. To claim exemption from Income Tax, donors may kindly quote their PAN # which will be included in the official receipt.
The Ministry of Home Affairs, Government of India has registered World Family Forum under Foreign Contribution (Regulation) Act 1976 vide registration # 231660762 to receive and accept donations in Foreign Exchange from individuals and International Funding Agencies, United Nations Programs, grants from Governments and Agencies of the European Union and Governments for cultural, Economic, Educational and Social programs. A special FCRA bank account # 52005021959 has been opened with Standard Chartered Bank , Express Building, Bahadur Shah Zafar Marg, New Delhi 110 002, India.
Each individual or corporate or donor member will be contributing a token amount towards his or her membership fee. This fee will form part of the corpus fund of the Trust.
Free will donations will be solicited from the Members of World Family Fellowship and general public to fund various projects undertaken by the Trust. These donations could be in money terms or in kind, equipment and machinery, counsel and advice or other viable means as deemed fit from time to time.
The Department of Social Welfare and Justice, Government of India and other State Governments offer grants and aids to NGO’s for rural and social development projects. World Family Forum will make every effort of accreditation and recognition by the Government agencies and be eligible for drawing these grants and aids for implementation of programs of rural reconstruction and development.
International NGO’s, Trade and Businesses, Social Service Organizations offer project specific funding for social development. World Family Forum will avail these funding of for utilization.
World Family Forum has been assured an outright donation of 5% of surplus funds of Usha Exim Pvt. Ltd. unconditionally. This will serve as seed money. Other similar committed donors will be identified and base broadened.