The IIT Kanpur Foundation was established in August 2000 by the Founding Board Members and Professor Arakere Vasudev was elected as its commissioning President. The founding members of this new entity were Prof. Arakare Vasudev, Deepak Bhagat, Umang Gupta and Anil Bhandari.
Its Mission was to mobilize alumni and raise funds for the betterment of IIT Kanpur. The United States of America (USA) Government granted the Foundation a tax exempt and a Public Charity status in the year 2001.
This provision gives the Foundation Donors the maximum tax benefits in the United States of America (USA) and also allows IIT Kanpur Foundation to seek for Donor Matching Funds from the US based donors corporations.
It is a non-profit organization as classified under the Section 501 (C) (3) of Internal Revenue Code (IRC) of USA Government and run by the group of alumni of IIT Kanpur. The mailing address of IIT Kanpur Foundation is 3790 El Camino Real # 1038 Palo Alto, CA 94306 and the EIN for IIT Kanpur Foundation is 94-3370645.
A significant number of donations from the USA based alumni are channelized through IIT Kanpur Foundation every year to support the specific development activities at IIT Kanpur. In this regard, the actual expenses made towards collecting and transferring donations by the IIT Kanpur Foundation Office are reimbursed by the IIT Kanpur.
IIT Kanpur with the help of this Foundation was able to raise significant amount of funding over the years and also organize and provide support to its activities in the USA.
Currently the Foundation’s role is more focused on acting as a think tank defining and charting the strategic vision for IIT Kanpur and assist in achieving the same through faculty recruitment, attracting foreign graduate students, and improving the quality of student life on campus etc.