SHIV NADAR FOUNDATION US PROCESS NOTE FOR RECEIPT OF DONATIONS / CONTRIBUTIONS
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1 SHIV NADAR FOUNDATION US PROCESS NOTE FOR RECEIPT OF DONATIONS / CONTRIBUTIONS CONTENTS Key Information... 2 Process Note... 2 Covering Letter... 2 Issue of Acknowledgement / Receipt... 4 Other Points... 5 Authorized Signatory... 5 Page 1 of 5
2 Key Information Name of the Entity : SHIV NADAR FOUNDATION Address :330 Potrero Avenue, Sunnyvale, CA Employer Identification No (EIN) : Bank Account details Bank Name : CITI BANK Address : 460, Park Avenue, New York, NY Account Number : ABA/Routing # : (For Domestic wires only) SWIFT Code : CITIUS33 (For International wires only) Process Note Covering Letter The Foundation shall accept donations from individuals and organizations interested in the objectives of the foundation. The prospective donor shall provide a covering letter providing clearly the purpose of the contribution. Page 2 of 5
3 The Specimen covering letter is as provided below. Dated XXXX M/S SHIV NADAR FOUNDATION 330 Potrero Ave Sunnyvale, CA Dear Sir, Please find enclosed herewith a DD / Check for $ XXXX (Rupees in words) as donation towards corpus fund of your Trust. Following are the necessary details: Name of the Donor : Address : Instrument Details : Amount : The above donation may be used for Scholarship for SSN/ General charitable Purposes (tick which ever is applicable) Please acknowledge the receipt and issue a receipt for exemption from income tax purposes Thanks & Regards, Name of the Donor Page 3 of 5
4 (Signature) Issue of Acknowledgement / Receipt The Foundation shall provide a receipt to acknowledge the contribution received. The specimen receipt is given below Dear Contributor: This letter is to acknowledge your contribution made to Shiv Nadar Foundation, an organization described in section 501(c)(3) of the Internal Revenue Code and California Revenue and Taxation Code Section 23701, that is qualified to receive contributions deductible for federal and California state income tax purposes, provided the contribution is made exclusively for charitable purposes. We appreciate your contribution of $ made on the DAY of MONTH YEAR We further confirm for you that no goods or services were provided to you in consideration, in whole or in part, for your contribution. Sincerely, For Shiv Nadar Foundation Authorized Signatory Page 4 of 5
5 Written Communication Requirement In order to obtain a tax benefit for making a charitable contribution (made in taxable years beginning after August 17, 2006) the donor must obtain and keep a bank record or a written communication from the organization as a record of the contribution. Written records prepared by the donor (such as check registers or personal notations) are not sufficient to support charitable contributions. Bank records for this recordkeeping requirement include bank or credit union statements, canceled checks, or credit card statements. Other Points 1. Receipt shall be provided for any amount of contribution received by the foundation 2. The receipt will be issued in the SNF letter head and will be signed (with Seal) by the authorized signatory 3. The Receipt shall be issued on the date the contribution is received 4. The Foundation shall not received any donation in kind 5. The foundation for the time being shall not provide any goods or services to the donors towards contributions received Authorized Signatory All the communications / receipt and Acknowledgements will be signed by Ms. Rita Singh Page 5 of 5
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