Frequently Asked Questions - 3. FAQ : Money matters and TF
Questions about how TF manages its finance
We may typically do a fund raising to support a TF initiative. That time during the nature of initiative the donor may be directly donating to the end beneficiary or may be depositing into the bank account of TF. TF will issue a payment to the end beneficiary in the late case.
To support a TF initiative TF will spend fund either from its account. Or depending on the case a TF-ian may be directly helping the beneficiary entity.
That most certainly goes to a beneficiary in a transparent process and most likely through a bank transaction. TF does not collect donation for running its operations. We always try to keep the operating costs (like keeping the website running) to a bare minimum. However we still need to spend to meet the operational cost and it is bourne my the TF society. It is NOT passed on a donor who is not a part of TF society.
Certainly, if you are an active TF-ian. TF treasurer will provide monthly reports on income and expenditure and financial status of TF in TFGG. However he can be approached any time for any query related to TF's financials. If you are not a TF-ian then TF'll provide such information only to the appropriate authority.
That is not mandatory for a TF-ian. However, during the year there will be many TF initiatives which will need funds to be raised. A TF-ian is expected to contribute any amount in any of the fund raisers according to his capacity, by not overstretching him/herself financially.
At the same time, please note that a TF-ian can help other ways too. Like blogging/posting in TF site, taking part in planning, execution of TF activities, donating in kind (not cash) to a beneficiary etc.
As of now TF does not collect a donation every month. TF Society members however has a Rs. 10 per month membership fee. TF Society is the body which is responsible for managing the legal, financial aspects of TF.
If are working on a TF initiative then based on the nature of the initiative you can directly help the beneficiary or may deposit in TF's bank account from which it'll reach the beneficiary through proper channel. You may do a NEFT transfer to the TF account. Or go to an AXIS bank branch and deposit in the TF account. More details on that will be posted later.
No. TF does not have the tax exempt status under section 80G.
It is possible. If you have rupee account in any bank in India you may do a NEFT transfer to the TF account. You can initiate it by using the on-line banking facility provided by your bank.
No necessarily. It will depend on the nature of the initiative. In TFGG we'll discuss and plan on the execution of each initiative. This will be covered in that discussion. If it is convenient then fund may be transferred to the beneficiary directly.