Many nonprofits face trouble raising funds. The Premji Foundation plans to remove at least some of that stress by offering no-strings-attached corpus grants to nonprofits
Azim Premji, Wipro’s billionaire founder and India’s top philanthropist, is offering “perpetual funding” of Rs 25 crore to Rs 200 crore each to more than a dozen social organisations as he doubles down on his commitment to charity during his lifetime.
“Steadiness and certainty of some level of income provide the NPOs [not-for-profit organisations] with an ability to better plan for the future, develop internal capacity and generally do a better job since it also releases the bandwidth of leadership, which is otherwise disproportionately invested in raising funds,” says Anurag Behar, chief executive officer of the Premji Foundation.
“Steadiness and certainty of some level of income provide the NPOs [not-for-profit organisations] with an ability to better plan for the future, develop internal capacity and generally do a better job since it also releases the bandwidth of leadership, which is otherwise disproportionately invested in raising funds,” says Anurag Behar, chief executive officer of the Premji Foundation.