IIT Bombay Heritage Foundation

What it reported doing in 2024

Programs Services Accomplishment include the following Grants to IIT Bombay from the IIT Bombay Heritage Foundation in 2024SCHOLARSHIPS, EXCELLENCE AWARDS & CHAIRSOver 750 continuing Endowed Scholarships as well as numerous Chair Professorships were awarded in 2024.50 new Scholarship awards were made to students in various departments.A grant was made towards the Women Faculty Chair Professorship in the Electrical Engineering Dept. A grant was made towards the Vijay & Sita Vashee Chair in Computer Science Dept.A grant was made towards the Vijay & Sita Vashee Chair in Climate & Sustainability at IIT Bombay. A grant was made towards the Vijay Vashee Computer Science Fellowship Award Endowment.A grant was made towards the Vijay Vashee Climate Change Fellowship Award Endowment.A grant was made towards the DMD Chair.A grant was made to support the Kanitkar Merit Award(s) in the Department of Civil Engineering at IITB for academic year 2024-25.A grant was made to support Prof. S. C. Sahasrabudhe (SCS) Teaching Excellence Award at IIT Bombay.A grant was made towards creation of the Vinaya and Samir Kapoor Competition & Awards for ACcelerating Climate Energy & Sustainability Solutions (ACCESS) at IIT Bombay.A grant was made towards the creation of the Vinaya and Samir Kapoor Summer Program for Undergraduate Research in Sustainability (SPURS) at IIT Bombay.FACULTY AND STUDENT DEVELOPMENT GRANTS A grant was made to support the Young Faculty Awards (YFA).A grant was made to the class of 1970 Reunion Legacy to support the creation of TRA Project (TRA).A grant was made for the Development and execution of a research project on postpartum depression at IIT Bombay.A grant was made towards the Women Empowerment at IIT Bombay.A grant was made to support the Semiconductor research and academic programs at IIT Bombay.A grant was made to support the Strategic Initiatives at IIT Bombay.A grant was made to the Unmesh Mashruwala Innovation Cell (UMIC) at IIT Bombay.A grant was made to support the research led by Prof. K. Ramasubramanian at IIT Bombays Cell for Indian Sciences and Technology in Sanskrit.A grant was made towards the Post-doctoral research fellowship for research around Traditional Indian Knowledge Systems at IIT Bombay.A grant was made towards IT Training to teachers and students of 100 schools in India.FACILITIES, EQUIPMENT AND INFRASTRUCTURE DEVELOPMENT GRANTA grant was made to the Wadhwani Research Center for Bioengineering (WRCB) Phase II at IITB.A grant was made to the Wadhwani Electronics Lab (WEL) at IITB.A grant was made to the Dr. Varun Bhalerao Astronomy Lab.A grant was made to the Surendra and Karen Gupta Lecture Tutorial Hall.A grant was made towards the MBF Technovation Sandbox Program at IIT Bombay.A grant was made to the FedEx Center for Advanced Logistics and Analytics at IIT Bombay.A grant was made to the Koita Centre for Digital Health (KCDH).A grant was made to the Shenoy Innovation Studio at Industrial Design Centre, IIT Bombay.A grant was made to the IIT Bombay Racing team.A grant was made towards the MBF Invention Factory Project at IIT Bombay.A grant was made towards the MBF to support the establishment of a collaborative learning classroom (CC) and an experiential learning lab (EL) at the Department of Electrical Engineering.A grant was made to support the Center for Machine Intelligence and Data Science, at IIT Bombay (CMInDS).A grant was made to support the Desai Sethi School of Entrepreneurship (DSSE) at IIT Bombay.A grant was made to support the Development of Green Energy and Sustainability Hub.A grant was made to support the Alumni-led Hostel Reconstruction Project Evergreen at IIT Bombay.A grant was made to support the enhancement other hostels infrastructure at IIT Bombay. A grant was made to support the Integrated Waste Management Facility Project at IIT Bombay Campus.Support to the Class of 1973 Golden Jubilee Reunion Legacy Project at IIT Bombay.Support to the Class of 1994 Silver Jubilee Reunion Leg

Financial Efficiency

• Mission deployment rate: 95.8%; rating input score 96
• Program expense ratio: 98.5%; rating input score 98
• Fundraising efficiency: $86.21 raised per $1 spent on fundraising; rating input score 83; 83rd percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: 2 of 8 controls in place; rating input score 25
  • Claims monitoring procedures: Pass
  • Requires narrative reports: Pass
  • Conducts field audits: Fail
  • May suspend future funding: Fail
  • Requires financial reports: Fail
  • Conducts site visits: Fail
  • Requires grant agreements: Fail
  • May require repayment: Fail
• Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
• Governance controls: 7 of 7 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 3%; rating input score 46; 46th percentile among comparable filings
• Total-asset coverage ratio: 1.2; rating input score 43; 43rd percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 95; 95th percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

• Program expense growth: 22.7% per year; rating input score 100; 92nd percentile among comparable filings
• Revenue growth: 21.1% per year; rating input score 100; 93rd percentile among comparable filings
• Asset growth: 11.3% per year; rating input score 100; 70th percentile among comparable filings