Finance
The income and property of the foundation shall be applied solely and exclusively
towards the promotion of the objects of the foundation as set forth in this Memorandum
of Association and no portion thereof shall be paid or transferred directly or indirectly
by way of dividend, bonus or otherwise by way of profit to the members of the foundation.
In the event of dissolution of the foundation its assets left after meeting its
liabilities, if any shall be transferred to another institution of fund approve
under section 2(36) of the income Tax Ordinance, 2001 and Rule 211 of income tax
Rules 2002.
The foundation shall be financed by the following sources:
- Contribution from sponsors, their relatives and friends.
- Contribution form sources acceptable to the Board of Governors In its direction.
- Earnings of the Foundation which may arise on account of its working.
- Donations membership/subscription/admission fee and any other means or ways legally
permissible and decided by the Board of Governors including but not limited to the
contribution my any government authority corporation.
Funds
The funds of the foundation may be generated by any one or more of the following
ways:foundation may be generated by any one or more of the following ways:
- By donations.
- By membership fee (if any).
- By admission fee.
- By subscription.
- By sale of tickets.
- By carrying on business.
- By obtaining loan.
- By contribution towards any scheme to be started by the foundation.
- By any other means or ways legally permissible and decided by the Board of Governors.
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