Canadian Friends of IITM is a fundraising platform to support IIT Madras’ drive towards global excellence in engineering education and research. It is a tax-exempt non-profit entity established and managed by volunteer IITM alumni to primarily raise endowment funds for IIT Madras from alumni, corporations and foundations in the Canada.
Alumni in Canada are tax exempted under the Income Tax Act, the donor can claim a tax credit for the amount they donate. The credit they will receive will be a percentage of their donation. There is an online calculator to help the donors to calculate how much their credit will be http://www.cra-arc.gc.ca/chrts-gvng/dnrs/svngs/clmng1b2-eng.html
Our near term goal is to raise $100 million in endowment funds to meet the IIT Madras 2020 Strategic Plan goals set by Director Bhaskar Ramamurthi.