School Building Fund tax deductibility
I worry a lot about money that has been given to TI and for which tax deductions have been claimed by those giving the gifts. The full name of the Fund is supposed to be: Tara Centre for Wisdom Culture School Building Fund. Its main objective is: To exclusively assist with the acquisition, construction or maintenance of building/s and fixture/s of the school buildings used by the Centre. The Fund will be controlled independently of all other activities of the Centre. Its affairs shall be managed by a controlling Committee consisting of not less than 3 persons. The Fund will be controlled independently of all other activities of the Centre. I do not believe these obligations have been lawfully carried out and I am concerned what liability it places on TI.