SAFE has been formed to raise funds by raising the awareness of the general public in order to provide for the education and other support for the economically disadvantaged segments of society in the South Asia beginning with India. SAFE will work in conjunction with Alpha Foundation, a charitable and tax-exempt organization registered in Hyderabad, India Which already runs a school based on these same principles.
SAFE intends to be one of the plugs in the gap where groups are already providing such services to backward and other such socially-disadvantaged segments for it does not beleive in further stratifying society. SAFE will operate on a simple objective formula, namely, that of providing education to all childreen whose parents cannot afford to send them to school. As such,it matters little whether a person belongs to the so-called higher rungs of society so long as they cannot afford the fees for educating their children.
SAFE believes strongly that education is the key to the majority of social ills and that it will also lead to the development of society in general.
Initially at least, SAFE will only indirectly provide all services and funds to individuals / institutions through Alpha Foundation.
The joint Venture will be through Alpha Foundation in terms of meeting SAFE’s objectives. However, all accounting will be distinct.
While SAFE does not expect to receive real property, conservation easements, intellectual property, securities, art, collectibles etc., as contribution it is certainly not averse to receiving them. However, no contributor will be permitted to impose any restrictions other than what SAFE deems reasonable and minor.
SAFE will work through Alpha Foundation in India which has identical objectives and is supporting SAFE in its operations both logistically and financially, at least for the first few years. For all funds disbursed to Alpha Foundation, SAFE will keep records indicating the amount, date, manner of distribution as well as any specific purpose within the scope of its objectives, and the person through whom the funds were disbursed and who may be contacted to find out how the funds were spent and to what purpose.
Oversight by SAFE will be in the form of regular visits by SAFE officers to the offices of Alpha Foundation (and to other organizations also to which funds were disbursed) to check on how these funds are being spent by looking at the accounting which these organizations will be required to maintain. Visits are expected to be at least once each year, if not twice or more.
Alpha Foundation, Hyderabad, Andhra Pradesh, India is the only organization with which SAFE will join hands in furthering SAFE’s objectives. Alpha Foundation will support SAFE both logistically and financially in the initial period of a couple of years at least, so that SAFE may then begin to raise funds to help Alpha Foundation.
IRS exemption: Application for recognition of exemption under section © (3) of the Internal Revenue Code (USA) is filed.
Objectives and Purposes:
a) To raise and distribute funds to provide financial and other support towards the education of economically disadvantaged segment of society in South Asia.
b) The Foundation may collaborate with and through various organizations including The Alpha Foundation, a charitable and non-profit and tax exempt organization registered in Hyderabad, India established with similar goals.
c) To do all such other acts and things as are appropriate or necessary to achieve these objectives.
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