Governance & transparency
How the Foundation is constituted, what it exists to do, and the rules that keep every rupee working for its charitable objects.
Legal status
| Legal name | Shivansh Vaishnavi Special People Foundation |
|---|---|
| Legal form | Section 8 company (not-for-profit), limited by shares |
| Law | Companies Act, 2013 (sections 4 and 8) |
| Corporate Identification Number (CIN) | U85500DL2023NPL411895 |
| NITI Aayog DARPAN ID | DL/2023/0343508 |
| Registered office (State) | Delhi |
| Objects extend to | Health & Education and Social Services |
| Memorandum & Articles subscribed | 3 April 2023 |
| Articles of Association | Table F, Schedule I, Companies Act, 2013 |
| Board size (AOA Art. 60) | Minimum 2, maximum 15 directors (up to 20 by special resolution) |
Main objects (MOA clause 3(a))
The Foundation is formed to pursue these objects. All of our programmes are run under them.
- 1To impart education from school to professional level, educate underprivileged children and provide special education to the needy.
- 2To set up flagship schools, special education schools and other educational institutions in India to benefit students, and to upgrade schools to higher levels of education.
- 3To impart computer training and technical and skill training to students.
- 4To impart health-related education and to set up healthcare institutions and facilities.
- 5To impart knowledge and education (primary to vocational and professional) and to support educational institutes, colleges and universities in obtaining accreditation from accrediting bodies in India and abroad.
- 6To provide health care and special education to persons with disabilities.
- 7To establish, endow, maintain, control and manage schools, and to do all things necessary for their promotion.
- 8To prepare, introduce, supervise and amend curricula and other programmes for the education of students.
- 9To provide industrial training centres for self-employment.
- 10To provide scientific forums for the exchange of information.
- 11To constitute committees to improve the functioning of schools and other educational institutions.
Non-profit commitments
These clauses of our Memorandum of Association are binding and cannot be changed without the Registrar's approval.
Clause 5(i)
All profits, other income and property of the Foundation are applied solely to promote its objects.
Clause 5(ii)
No part of the income or property is paid or transferred to members, directly or indirectly, as dividend, bonus or profit.
Clause 5(iii)
No remuneration or benefit is given to members, except out-of-pocket expenses, reasonable interest on money lent, or reasonable rent on premises let to the Foundation.
Clause 6
The Memorandum and Articles cannot be altered without prior approval of the Registrar.
Clause 9
True accounts are kept of all money received and spent, and the accounts are audited by qualified auditors at least once a year.
Clause 10
On winding up, no property is distributed among members. It goes to another Section 8 company with similar objects, or to the Rehabilitation and Insolvency Fund.
Clause 11
The Foundation can be amalgamated only with another Section 8 company that has similar objects.
Board of Directors
Ramagya Sharma
Director
First Director and subscriber to the Memorandum of Association. Occupation: social work.
Urmila Sharma
Director
DIN: 10099046
First Director, subscriber to the Memorandum of Association and Authorised Signatory. Occupation: social work.
Directors serve without dividend or profit from the Foundation (MOA clause 5).
Financial controls
- Donations are accepted only through banking channels, and every donation is recorded in the books of account.
- All cheques, drafts and receipts are signed in the manner the Board decides by resolution (AOA Art. 64).
- True accounts are kept and audited by qualified auditors at least once a year (MOA clause 9).
- Income-tax returns and other statutory filings are made on time.
- Funds are spent only on the objects in the Memorandum. None of it is distributed to members, directors or office bearers.
Documents on request
Certificate of Incorporation, Memorandum and Articles of Association, PAN, NITI Aayog DARPAN registration, Income-tax registrations and audited financial statements are available to donors and authorities on request at [email protected].