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FCRA Case Study

We worked with the client on multiple facets of FCRA compliance & advisory including FCRA Transaction Guidance, Expenditure Classification, FCRA Condonation Advisory, & FCRA documentation.

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FCRA Case Study

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  1. Strengthening NGO Compliance: FCRA Compliance & Advisory Services to a Leading Non-Governmental Organization in India Case Study +91 8506860903 contact@thinkcapadvisors.com www.thinkcapadvisors.com

  2. CUSTOMER Leading Non-Governmental Organization in India INDUSTRY NGO/Social Sector OPPORTUNITY We assisted the client in aligning with FCRA regulations by providing transactional guidance, meticulously classifying expenditures, and aiding in FCRA condonation for past non-compliance. Emphasis was placed on transparency in fund utilization, proper documentation of foreign contributions, and maintaining detailed records for regulatory review. • About the Project SOLUTIONS • FCRA Advisory Transaction Guidance • Expenditure Classification Advisory • FCRA Condonation • Documentation & Reporting RESULTS • Ensured compliance with FCRA guidelines • Rectification of past errors resulting in renewal of FCRA registration • Educating staff on FCRA leading to successful completion of FCRA audit

  3. Company Background Our client is a Not-for-Profit Organization working in the field of WASH (Water, Sanitation & Hygiene) with an aim of providing clean water, toilets and promoting hygiene practices. Being one of the early pioneers in the sector, the NGO has impacted close to half a million people.

  4. FCRA Advisory Transaction Guidance Expenditure Classification Advisory Work Area Our consultants conducted a thorough assessment of the client’s financial and operational structure. The primary objective was to ensure that all present and new activities adhered to FCRA regulations. During this process, we provided transactional guidance, highlighting key aspects of FCRA compliance to ensure that the NGO's financial transactions aligned with the regulatory requirements. A critical component of the advisory was the examination of the NGO's expenditure. Our FCRA consultants meticulously reviewed and classified each expenditure item to distinguish between project expenditure and administrative expenditure. This segregation was crucial to ensure transparency and accountability in fund utilization, while complying with the FCRA guidelines.

  5. FCRA Condonation Other Key Aspects of Regulations Addressed Work Area Another area where we provided assistance was on drafting and filing FCRA condonation. This involved a comprehensive review of past non-compliance instances & working closely with the NGO to rectify errors, and presenting a strong case for condonation to the regulatory authorities. Donation and Receipts: Ensuring that all foreign contributions were properly documented, received through authorized channels, and utilized for the intended purposes. Documentation and Reporting: Emphasizing the importance of maintaining detailed records and reviewing returns filed with FCRA authorities.

  6. Ensured compliance with FCRA guidelines • Rectification of past errors resulting in renewal of FCRA registration • Impact • Educating staff on FCRA leading to successful completion of FCRA audit

  7. About ThinkCap Advisors ThinkCap Advisors (www.thinkcapadvisors.com) is a consulting firm that uses industry expertise and domain knowledge to help organizations and their teams solve problems and achieve business impacting results. Our team members, comprising of professionals with extensive experience in Big 4 firms and large multinationals, are subject matter experts and their advice is backed by in-depth research, years of experience and deep understanding of the prevailing market scenarios. As an FCRA compliance services & FCRA advisory services firm, our team has extensive experience in handling a gamut of issues arising under FCRA. Our clientele includes both foreign and domestic non-profits operating in different thematic areas. Work Areas: - Tax & Regulatory - Social Sector - Consulting - Technology Solutions

  8. Thank You +91 8506860903 contact@thinkcapadvisors.com www.thinkcapadvisors.com

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