Annual Report 2007 - Observer Research Foundation
Annual Report 2007 - Observer Research Foundation
Annual Report 2007 - Observer Research Foundation
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FINANCIAL FACT SHEET<br />
<strong>Observer</strong> <strong>Research</strong> <strong>Foundation</strong> is registered at Delhi under the Societies Registration Act XXI of<br />
1860 as a not-for-profit organisation. Donations to ORF enjoy Income Tax exemption under Section<br />
80G of the Income Tax Act, 1961.<br />
ORF follows the financial year from April to March. Statement of Accounts, audited by a qualified<br />
and registered Chartered Accountant, is submitted to the concerned departments in India as per the<br />
statutory requirements. Internal audit system is conducted by a qualified and registered Chartered<br />
Accountant’s Firm periodically.<br />
All donations received by ORF from donors outside India are received as per the FCRA (Foreign<br />
Contributions Regulation Act) guidelines. Section 6(1) of the FCRA inter alia provides that an association<br />
(organisation) registered under the FCRA shall intimate to the Central Government in India<br />
the amount, source and the manner in which such foreign contribution is received and the purpose for<br />
and the manner in which such contribution is utilised. These foreign contributions are to be received<br />
only through a particular registered and designated bank. For any information on the same, please<br />
contact Honorary Secretary, <strong>Observer</strong> <strong>Research</strong> <strong>Foundation</strong>, 20 Rouse Avenue, New Delhi 110002<br />
Email: baljitkapoor@orfonline.org<br />
The details of the funds received and utilised as per the audited Accounts of Financial Year 2005-<br />
2006 are:<br />
FUNDS RECEIVED<br />
(in Rupees million)<br />
UTILISATION OF FUNDS<br />
(in Rupees million)<br />
Donation and Grants 50.40 <strong>Research</strong> Activities<br />
Salaries & Honorarium<br />
23.99<br />
Interest Income 2.84 Meetings & Conferences 9.66<br />
Other Income 0.40<br />
Travelling & Conveyance 3.55<br />
Communication 1.27<br />
Total 53.64 Overheads 8.64<br />
Sponsorships support (such as Air<br />
Tickets)<br />
2.50 Total 47.11<br />
ORF Assets : (in Rupees million)<br />
Fixed Assets 3.46<br />
Investments 45.70<br />
Cash & Bank Balance 7.91<br />
Other Assets 2.04<br />
Total 59.11<br />
Besides the above, the asset value of ORF’s building and infrastructure, over Rs. 60 million, has been<br />
provided at no cost on a permanent basis by <strong>Observer</strong> <strong>Research</strong> <strong>Foundation</strong>’s Corporate benefactors.
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