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INR 57 Crores: Pledge made by C1998 on the Alumni Day 👏
With 210+ pledges and a total pledge value of INR 57 Crores, C1998 has pledged more than double of the previous highest by any batch during their SJRU and almost 40% higher than highest pledge by any batch!
So let’s take a moment to pat ourselves on the back !! It has been a Herculean effort by the volunteer team, matched only by the generosity and goodwill of all of you. A big Thank You to everyone in support of our alma mater and help shape it’s future
Media Coverage:
Hindustan Times: https://www.hindustantimes.com/cities/mumbai-news/iitbs-1998-batch-pledges-57-crore-for-supporting-research-101703444670176.html
Indian Express: https://indianexpress.com/article/education/iit-bombays-class-of-1998-gifts-rs-57-cr-to-alm…
Business Today: https://www.businesstoday.in/latest/trends/story/iit-bombays-class-of-1998-donates-rs-57-cr-highest-ever-by-any-batch-410650-2023-12-24
https://www.freepressjournal.in/education/iit-bombays-class-of-1998-gifts-rs-57-cr-to-alma-mate
https://www.bizzbuzz.news/education/iit-bombays-class-of-1998-gifts-rs-57-cr-to-alma-mater-1276273
Link to the Pledge Form
Q) IITB is such a big institute. Does it really need our help?
As we have been discussing over the past few months, alumni contributions have played a significant role in most aspects of progress at IITB. As the institute strives to become a top50 global educational institute, there are so many essential and aspirational projects that are on hold due to lack of funding. So your (our class) contribution is an indispensable need of the hour.
Q) Will my contribution matter?
First of all, whatever amount you contribute is not small. As part of the class, it all adds up. We, as a batch, are looking for everyone to be part of this effort. So yes, any amount you contribute matters and the institute can really use the support.
Q) How much should I pledge ?
“Jitna dil ho, utna.” Seriously, it’s the thought that counts, whatever amount is meaningful to you is the right amount. No amount is too big or too small ; every contribution is valued, and will go towards helping IITB build a better tomorrow.
Our friends from the Fund-Raising team urge you to consider pledging an amount that is equivalent to 1 to 2 months income. Spread out over 3 years, this is just 10 to 20 days worth of income every year, and tax deductible too.
Having said that, we have classmates who have donated all over the range, from tens of thousands of rupees to hundreds of thousands of dollars. What they contributed was the right amount for them. What you contribute is the right amount for you.
We need support from each and every one of you to maximize our batch contribution towards the Class of 1998 legacy gift. Please start thinking and finalizing your pledges as soon as you can. We are aiming to have most of the pledges finalized before Nov 30th.
Q) Should the pledge amount include company matching??
Yes, it should include the company matching.
Q) Can the pledge amount be changed?
Yes, it can be. You need to use the same email address while filling out the pledge again. The new pledge overwrites the previous one.
Q) Are there not more worthwhile causes to donate to?
Definitely, the list of worthy causes abound. From climate change, to religious causes, to disadvantaged kids, there are tons of causes where your money can help. And we are proud of our class, as most contribute to those causes. We are hoping that you would also contribute to our institute, which played a significant role in our lives (not to mention the highly subsidized education) and can now use your help.
There are enough reasons to contribute. We each have to find our own reason and the amount that is right for us.
Hope you are not overthinking it. Just pledge!
Here is a link to the pledge form.
How to Donate?
I filled the pledge form but how do I donate?
You can make direct contributions using the following links.
For USA, alumni can donate at: https://www.iitbombay.org/g/legacy-projects (Please mention C1998 legacy project while donating )
For India, alumni can donate at: https://alumni.acr.iitb.ac.in/donation/?cause=batch-legacy&sub_cause=class-of-98-Gift
For UK, alumni can donate at : https://www.nowdonate.com/checkout/o86a8nfta2u2n9398w7l (Please mention C1998 legacy project while donating)
For Non US, UK, and also in India, the best way is to donate via Bank Transfer to IIT Bombay account: While doing NEFT/RTGS/IMPS, please mention in the comment C1998 legacy project. Additionally, also notify purva.jain@iitbacr.com with the details like Name, Address, Contact Number, Pan no. and GST no. (if donating through company). This will assist in creating donation receipt for the donor.
State Bank of India, Powai, Mumbai
Account Name: IIT Bombay Donation Account
Account No: 10725730111
Swift Code: SBININBB519
IFSC Code: SBIN0001109
ICICI Bank, Powai, Mumbai
Account Name: IIT Bombay Donation Account
Account No: 002001027634
IFSC Code: ICIC0000020
Whom should I send the cash donation to, if I live in US, India, UK or elsewhere?
In India, contributions are accepted through methods such as cheques, bank transfers, credit cards, real estate, and bequests. In the USA, donations are accepted via cheque, bank transfer, PayPal/Credit card, bequests, securities, wire transfer, and cryptocurrency. In the UK, contributions are accepted through credit card. Please contact Subha/Sudha at subha@iitbombay.org/ sudha.iitbhf@iitbombay.org for any query related to donations in the USA and purva.jain@iitbacr.com for any donation related query in India or any other country.
How do I donate shares/stocks, for different geographical locations (US, India, rest of the world)?
At present, we offer donation choices involving shares/stocks in both the United States and India.
Donation through shares/stocks in USA:
The easiest way of donating securities is DTC transfer. In order to do a DTC transfer of securities to IITBHF, please instruct your broker to DTC transfer "NUMBER" shares of "XYZ" company (Stock Symbol) from your account ("YOUR ACCOUNT NUMBER") to the following account:
Fidelity Investments
A/C Name: IIT Bombay Heritage Foundation, Inc.
Account Number: Z73086240
DTC Number 0226
Donors should send an email to subha@iitbombay.org / sudha.iitbhf@iitbombay.org and/or call +1-408-252-1664 with donation details including the specific Giving Opportunity, name, address, date of transaction, number of shares transferred, name of company etc.
Those who want to donate through shares/stocks in India can write to Purva Jain at purva.jain@iitbacr.com
Should I include company matching amount in the total value of the pledge?
Yes, you can pledge the total amount that includes your company's matching amount. Please contact your company HR to start the company matching process.
If I pay in installments over 3 or 4 years, should I include the full total in the pledge amount?
Certainly, you have the option to include the entire total in your pledge amount. Nonetheless, you retain the flexibility to adjust the installment amounts as required. Several of our alumni have pledged and contributed more than the initially committed amount.
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