What IIT Madras Foundation does

IIT Madras Foundation is a US-based 501(c)(3) nonprofit organization, incorporated in California in 2016 (EIN: 47-1990700) and headquartered at 10080 N. Wolfe Road, Suite #200, Cupertino, CA. Its sole function is to serve as the tax-advantaged fundraising vehicle for IIT Madras alumni and donors based primarily in North America, channeling contributions toward scholarships, faculty research, infrastructure, and student welfare programs at IIT Madras in India. The foundation operates with a small team of 1-10 unpaid volunteers, including a CEO, Chairman, VP of Marketing, CFO, and a Board of Directors with investment oversight from a dedicated Investment Committee.

The foundation's core offering is an alumni donation platform processed through Network for Good, supporting multiple giving mechanisms: one-time and recurring donations, appreciated stock gifts, IRA Qualified Charitable Distributions, Donor Advised Funds, bequests, charitable trusts (CRUTs/CLATs), and life insurance policy donations. It runs several named programs including Annual Giving ($7M target for 2025), the Women Leading IITM endowment ($2M target), Project BrIIght Future ($7M for underprivileged student tuition), the Innovation and Research Fund, and Special Causes fundraising for student teams and the Zanzibar campus. To date it has raised close to US$30 million toward a US$100 million endowment goal, with major cohort-driven gifts from the Class of 1981 (~$1.2M-$1.3M for e-buses and health research) and the Class of 1993 (~$1.25M for scholarships and women leadership).

Its go-to-market is community-led and relationship-driven, relying on volunteer board members who are IIT Madras alumni to activate class reunion events, alumni networks (IITMAANA, IITMAA, Canadian Friends of IITM), and word-of-mouth referrals. The foundation charges a 5% fee on project and endowment receipts to cover operating expenses and holds a Charity Navigator 4-Star rating. It is affiliated with but independent from IIT Madras and IITMAANA, operating under its own Board of Directors and Investment Committee without a parent entity.

Name

IIT Madras Foundation

Legal name

IIT Madras Foundation

Website

https://iitmfoundation.org

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

IIT Madras Foundation is a US-based 501(c)(3) nonprofit that serves as the tax-advantaged fundraising arm for IIT Madras, channeling alumni and corporate donations in North America into scholarships, faculty research, infrastructure, and student welfare programs in India.

Ownership category

akta.pro rank

Product category

Educational Fundraising Services

NAICS

Grantmaking Foundations (813211), Grantmaking and Giving Services (81321)

SIC

Services-Social Services (8300)

akta.pro primary industry

Private Foundations (BPAGAKAA)

akta.pro secondary industries

Scholarship & Fellowship Foundations and Trusts (EDADAHAC), Public Charities & Grantmaking Intermediaries (BPAGAKAE)

Keywords

• Alumni fundraising
• Educational endowment
• Charitable donations
• Merit scholarships
• Nonprofit foundation

Headquarters

HQ city

Cupertino

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Charitable Donations: The foundation raises funds through various donation mechanisms including online donations, mail-in donations, wire transfers, Donor Advised Funds (DAF), appreciated stock gifts, IRA Qualified Charitable Distributions (QCDs), estate planning and planned gifts (bequests), and life insurance policy donations. The organization charges a 5% fee on all project and endowment receipts for operating expenses.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

IIT Madras Foundation is a US-based 501(c)(3) nonprofit that raises philanthropic funds from IIT Madras alumni and corporate donors to build a US$100 million endowment for IIT Madras in India. It facilitates donations through an online portal, mail-in checks, wire transfers, Donor Advised Funds, appreciated stock gifts, IRA Qualified Charitable Distributions, and estate planning vehicles, then deploys the proceeds as endowed programs supporting scholarships, faculty research, women leadership, student welfare, and infrastructure.

Product overview

IIT Madras Foundation operates as a single unified alumni fundraising platform, not a modular software product. The organization provides a comprehensive suite of giving mechanisms including an online donation portal via Network for Good, annual giving programs, endowed funds for specific purposes (Women Leading IITM, Innovation and Research), merit-based scholarship programs, and legacy/planned giving options. These programs collectively support IIT Madras students, faculty research, and institutional development, with the foundation having raised close to US$30 million toward its $100 million endowment goal.

Differentiator

Problem solved

Functional benefit

Products and services

• IIT Madras Foundation Donation Platform Online fundraising portal powered by Network for Good enabling alumni and supporters to make one-time and recurring credit card donations to IIT Madras Foundation.
• Annual Giving Program Annual fundraising initiative with a 2025 goal of raising $7 million toward IIT Madras programs including scholarships, research, faculty support, and student needs.
• IIT Madras Growth Fund Fund supporting urgent institute causes with immediate short-term impact, including hostel renovations, academic building enhancements, laboratories, libraries, auditoriums, and sports complex improvements.
• Innovation and Research Fund Program funding centers of excellence, faculty chairs, research projects, and student needs at the Center for Innovation (CFI) at IIT Madras.
• Merit-Based Scholarships Program Financial support program for economically disadvantaged students at IIT Madras providing scholarships, emergency funds, mess funds, living expenses, and holistic support for student clubs and wellness.
• Women Leading IITM (WLI) Endowment Endowed fund targeting $2 million to promote and support women leadership at IIT Madras, with a goal to increase women faculty in Assistant Professorships from 15% to 20%.
• Project BrIIght Future Initiative to eliminate tuition fees as a barrier for approximately 550 underprivileged students at IIT Madras, with a goal to raise $7 million USD (INR 56 Crores) to cover 100% of tuition costs in perpetuity.
• Legacy and Planned Giving Program Estate planning giving options including charitable remainder unitrusts (CRUTs), charitable lead annuity trusts (CLATs), Donor Advised Funds (DAFs), IRA Qualified Charitable Distributions, and bequest arrangements.
• Special Causes Fundraising Targeted fundraising for specific initiatives including Team Avishkar Hyperloop ($126,000), Team Raftar Formula Racing ($37,600), and IITM Zanzibar Scholarships ($210,000).

Quantifiable outcome

• 1,329 students received Merit Cum Means scholarships from Class of 1993 contributions
• +4 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core and minor.

• University of LeedscoreStrategic or Co-development Partner · 27 July 2024Signed MoU to set up a Joint Virtual Centre of Excellence on Sustainable Development (VCoE-SD). The partnership aims to advance knowledge and innovation through multidisciplinary teams, collaborative research projects, joint academic activities including courses, conferences, seminars, and lectures. Promotes exchange of research and teaching personnel, student placements and exchanges, and sharing of publications.
• IIT Madras Alumni Association of North America (IITMAANA)coreStrategic or Co-development PartnerUmbrella organization of all IITM alumni in USA, Canada and Mexico. Focuses on connecting alumni and helping them collaborate to provide benefits rewarding to all, contributing to the growth of IITMAANA and IIT Madras as a beacon of excellence.
• IIT Madras Alumni Association (IITMAA)coreStrategic or Co-development PartnerFounded in December 1964, representing about 53,000+ IITM alumni in various chapters spread across the globe. Three pillars of focus: Kindle Community Spirit, Provide Thought Leadership, and Deliver Societal Impact.
• Canadian Friends of IITM (CF IITM)coreStrategic or Co-development PartnerOfficially launched in September 2018 with objectives of delivering financial assistance to students in need, providing scholarships and bursaries, bolstering educational projects, and extending health care support. Has Charitable Status by Canada Revenue Agency.
• IITM Pravartak Technologies FoundationminorStrategic or Co-development PartnerCurrently supporting the Language and Cognition Laboratory (LC-Lab) at IIT Madras Department of Humanities and Social Sciences.
• Aspire Infolab, HyderabadminorStrategic or Co-development PartnerSupporting the Language and Cognition Laboratory (LC-Lab) at IIT Madras Department of Humanities and Social Sciences.
• Hindustan Unilever Limited (HUL)minorStrategic or Co-development PartnerHUL's Women in STEM Fellowship awarded to women fellows from IISc, NCBS, and IIT Madras for doctoral research in Climate Action, Sustainability, Health and Hygiene aligned with UN Sustainable Development Goals. Third cohort receiving mentorship from HUL leaders and academics, funded through HUL's CSR initiative.

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• IIT Kharagpur Foundation of USA: US-based fundraising arm for IIT Kharagpur, the founding IIT. Offers nearly identical programs (endowment building, scholarships, reunions) and targets the same North American IIT alumni donor pool with directly comparable tax-advantaged giving vehicles.
• IIT Delhi Alumni Association (US chapter): US-based alumni association supporting IIT Delhi through fundraising and engagement. Operates with similar reunion-driven, alumni-led giving model and shares the IIT donor base with IIT Madras Foundation.
• IIT Bombay Heritage Foundation: Sister IIT 501(c)(3) supporting IIT Bombay alumni fundraising from the US. Operates an identical model: US-based endowment arm funding scholarships, research, and infrastructure at a peer IIT institution, competing for the same high-net-worth IIT diaspora donor pool.
• IIT Kanpur Foundation (USA): US-registered nonprofit foundation channeling alumni donations back to IIT Kanpur. Closely comparable structure, donor base, and giving vehicles (DAFs, planned gifts, class reunions) targeting a peer-tier Indian engineering institution.

Broad incumbents

• American India Foundation: Large US nonprofit focused on Indian development including education, leveraging US-based diaspora philanthropy for Indian institutions and causes. Broader in scope than IIT Madras Foundation but operates with the same US 501(c)(3) infrastructure and overlapping donor demographics.
• Stanford Alumni Association: Established US university alumni fundraising operation with sophisticated planned-giving and endowment management programs at massive scale. Different institution type but the benchmark professional model for alumni-led US-based university fundraising.
• MIT Alumni Association: Another leading US university alumni fundraising operation. Directly comparable in function (alumni fundraising via class reunions, endowed giving, planned giving) but at vastly larger scale and as a paid professional operation rather than volunteer-led.

Others

• Network for Good: Donation processing platform currently used by IIT Madras Foundation for online giving. Not a peer in mission, but a vendor/infrastructure partner whose services enable the foundation's digital donation operations.

Emerging players

• Indian Institute of Science Alumni Association: Alumni organization for IISc Bangalore, India's premier science and research institution. Comparable alumni fundraising model targeting US-based donors for a premier Indian institution, though smaller in scale than IITM Foundation.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/iitmfoundation

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about IIT Madras Foundation