Financial Information
ICICI Foundation provides a financial statement as a part of our Annual Report.
Registration and Tax Status
ICICI Foundation for Inclusive Growth (ICICI Foundation) has been set up as a public charitable trust registered at Chennai vide registration of the Trust Deed with the Sub-Registrar’s Office at Chennai on January 04, 2008.The application for registration of the Foundation under section 12AA of the Income tax Act, 1961 (“the Act”) was filed on February 7, 2008 and the application under section 80G of the Act was filed on February 14, 2008. Subsequently, ICICI Foundation was registered as a “PUBLIC CHARITABLE TRUST” under Section 12AA of the Act with effect from February 7, 2008. Further, ICICI Foundation received approval under Section 80G(5)(vi) of the Act on March 19, 2008. This approval is valid in respect of donation received by ICICI Foundation from February 14, 2008 to March 31, 2009. Accordingly, ICICI Bank and Group Companies will be eligible to get a deduction under section 80G on donations made during this period.
ICICI Foundation has also obtained its Permanent Account Number (PAN) and Tax deduction Account Number (TAN).
Funds Flow 2008-2009
ICICI Foundation received Rs.617.80 million from the following sources as grants:
(January 4, 2008 to March 31, 2009) (spanning two financial years)
| Source (January 4, 2008 – March 31, 2009) | Amount (Rs. million) |
| ICICI Bank | 500.00 |
| ICICI Prudential Life Insurance | 67.72 |
| ICICI Lombard General Insurance | 17.12 |
| ICICI Securities | 14.98 |
| ICICI Securities PD | 6.99 |
| ICICI Home Finance | 1.99 |
| ICICI Venture | 9.00 |
| Total | 617.80 |
ICICI Foundation also incurred total expenses of Rs.1.25 million during this period and had a fund balance of Rs.61.55 million as on March 31, 2009.
Disbursements (January 4, 2008 to March 31, 2009)
| Grant Beneficiaries (January 4, 2008 – March 31, 2009) | Amount (Rs. million) |
| ICICI Foundation Programmes | |
| ICICI Centre for Child Health and Nutrition | 150.00 |
| IFMR Finance Foundation | 200.00 |
| Environmentally Sustainable Finance | 20.00 |
| CSO Partners | 50.00 |
| CARE (Policy Unit) | 5.00 |
| Strategy and Advisory Group | 20.00 |
| ICICI Group Corporate Social Responsibility Programmes | |
| Read to Lead | 25.00 |
| MITRA (ICICI Fellows Programme) | 55.00 |
| CARE (Disaster Management Unit) | 5.00 |
| Rang De |
25.00 |
| Total | 555.00 |
Grant Beneficiaries for 2008-2009
ICICI Foundation Programmes
ICICI Centre for Child Health and Nutrition (ICCHN)
The grant of Rs.150.00 million was provided to ICCHN by way of corpus support and for pursuing various projects consistent with its mission.
The grant of Rs.150.00 million was provided to ICCHN by way of corpus support and for pursuing various projects consistent with its mission.
IFMR Finance Foundation (IFF)
The grant of Rs.200.00 million was provided to IFMR Finance Foundation by way of corpus support and for pursuing various projects consistent with its mission.
The grant of Rs.200.00 million was provided to IFMR Finance Foundation by way of corpus support and for pursuing various projects consistent with its mission.
Environmentally Sustainable Finance (ESF)
The grant of Rs.20.00 million was provided to ESF for their collaboration work with Rural Energy Network Enterprise (RENE) on sustainable energy and environment projects benefiting remote rural end users. The proposed projects will promote developing tools and driving innovation to scale rural energy access for remote rural users.
The grant of Rs.20.00 million was provided to ESF for their collaboration work with Rural Energy Network Enterprise (RENE) on sustainable energy and environment projects benefiting remote rural end users. The proposed projects will promote developing tools and driving innovation to scale rural energy access for remote rural users.
CSO Partners
The grant of Rs.50.00 million was provided to CSO Partners by way of corpus support and for pursuing various projects consistent with its mission.
The grant of Rs.50.00 million was provided to CSO Partners by way of corpus support and for pursuing various projects consistent with its mission.
CARE (Policy Unit)
A grant of Rs.5.00 million was provided to CARE, an Indian NGO that is closely affiliated with CARE (USA), to create a policy unit in Delhi. Learning from CARE’s work in India and world-wide as well as from the work of ICICI Foundation and its partners, the unit will serve as a platform to engage the government and policymakers in an effort to bring about required policy changes in areas such as maternal and child health.
A grant of Rs.5.00 million was provided to CARE, an Indian NGO that is closely affiliated with CARE (USA), to create a policy unit in Delhi. Learning from CARE’s work in India and world-wide as well as from the work of ICICI Foundation and its partners, the unit will serve as a platform to engage the government and policymakers in an effort to bring about required policy changes in areas such as maternal and child health.
Strategy and Advisory Group (SAG)
Charitable foundations in India and world-wide struggle to fully develop the strategy formulation, knowledge management and impact assessment dimensions of their work. A grant of Rs.20.00 million was provided to Strategy and Advisory Group (SAG), a team at Centre for Development Finance that provides strategic advisory services to clients in the development sector, to develop these functions and to offer their expertise to foundations in general, including ICICI Foundation.
Charitable foundations in India and world-wide struggle to fully develop the strategy formulation, knowledge management and impact assessment dimensions of their work. A grant of Rs.20.00 million was provided to Strategy and Advisory Group (SAG), a team at Centre for Development Finance that provides strategic advisory services to clients in the development sector, to develop these functions and to offer their expertise to foundations in general, including ICICI Foundation.
ICICI Group Corporate Social Responsibility Programmes
Read to Lead
Read to Lead is an initiative of ICICI Bank to facilitate elementary education for disadvantaged children in the age group of 6-13 years. An amount of Rs.25.00 million has thus far been disbursed to 100,000 children through 30 NGOs. The balance amount of Rs.75.00 million is planned to be disbursed during the period 2009-2010.
Read to Lead is an initiative of ICICI Bank to facilitate elementary education for disadvantaged children in the age group of 6-13 years. An amount of Rs.25.00 million has thus far been disbursed to 100,000 children through 30 NGOs. The balance amount of Rs.75.00 million is planned to be disbursed during the period 2009-2010.
MITRA (ICICI Fellows Programme)
MITRA is an affiliate of CSO Partners that is focused on addressing the challenge of human resources for civil society organisations (CSOs). In partnership with CSO Partners and MITRA, ICICI Foundation proposes to launch an ICICI Fellows Programme. An amount of Rs.55.00 million has been disbursed to MITRA for developing and launching the programme over the period 2009-2010.
MITRA is an affiliate of CSO Partners that is focused on addressing the challenge of human resources for civil society organisations (CSOs). In partnership with CSO Partners and MITRA, ICICI Foundation proposes to launch an ICICI Fellows Programme. An amount of Rs.55.00 million has been disbursed to MITRA for developing and launching the programme over the period 2009-2010.
CARE (Disaster Management Unit)
A grant of Rs.5.00 million has been given to CARE in India to enable it to prepare for any future disasters that may strike and respond immediately with the required relief efforts.
A grant of Rs.5.00 million has been given to CARE in India to enable it to prepare for any future disasters that may strike and respond immediately with the required relief efforts.
Rang De (Micro Enterprise Development)
Rang De, an affiliate of CSO Partners, has partnered with ICICI Venture to roll out funds for micro enterprise development in rural and semi-urban locations. The amount of Rs.25.00 million that has been disbursed to them will support micro enterprises to the extent of Rs.15.00 million and the balance amount of Rs.10.00 million will go towards meeting their expenses to build the platform.
Rang De, an affiliate of CSO Partners, has partnered with ICICI Venture to roll out funds for micro enterprise development in rural and semi-urban locations. The amount of Rs.25.00 million that has been disbursed to them will support micro enterprises to the extent of Rs.15.00 million and the balance amount of Rs.10.00 million will go towards meeting their expenses to build the platform.
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