1.) M.D.D. Bal Bhawan’s income comes from various sources, including charitable donations from individuals and corporations, along with government grants and private foundation grants.
2.) The society’s annual budget is prepared by the Governing Body in the first quarter of the fiscal year. It considers estimated income and expenses (capital & revenue), and a copy is presented to the General Body for information at their annual meeting.
3.) The Governing Body manages all society funds, allocating and accounting for them as they deem appropriate.
4.) The Society’s funds will be deposited in a bank account at a national, public, or private sector bank. For security purposes, the account will require joint signatures from the Founder Visionary Member and the President to authorize transactions.
5.) The society shall be the sole owner of all its assets and funds.
6.) The Society will conduct all significant financial transactions using bank instruments. Examples: Checks, demand drafts (DDs), pay orders, bank transfers, or Real-Time Gross Settlement (RTGS).
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* All donations are eligible for deductions under section 80G.
