LIC GOLDEN JUBILEE FOUNDATION
An important development in the role of corporate houses has been the increasing focus on their
corporate social responsibility. Corporate Social Responsibility is the continuing commitment by
businesses to behave ethically and contribute to economic development while improving the
quality of the workforce as well as of the local community and society at large.
LIC as a responsible Corporate Citizen has been fulfilling its social responsibilities from time to
time. LIC Golden Jubilee Foundation was established on 20.10.2006 as a part of LICs Corporate
Social Responsibility.The Foundation has been registered with the Charity Commissioner
Mumbai and is also exempt under Section 80G of Income Tax.
The objectives of the LIC Golden Jubilee Foundation are promoting education, health, relief of
poverty or distress and advancement of other objects of general public utility.
Golden Jubilee Foundation can provide a great avenue of fulfilling our social responsibility at the
corporate level and our philanthropic needs at the individual level.
The Foundation has supported projects ranging from construction of Hospitals, School buildings
and classrooms, library, computer centre, Old age homes, Hostel buildings for children in tribal
areas, Vocational training centres for differently abled persons to provide infrastructural facilities
to needy persons in different pockets of the country. We have also provided funds for purchase of
School buses for transportation of differently abled children and Ambulances for transportation
of patients to Hospitals. The Foundation has supported cochlear implant programme for children
from economically weaker sections of the society spread across the country through KEM
Hospital, Pune. LIC Golden Jubilee Foundation has reached out in areas where natural calamities
have devastated human life and provided infrastructural support to orphan children through
NGOs. The list of projects supported by us is available under the Activities and project details
link.
ELIGIBILITY REQUIREMENTS AND APPLICATION PROCEDURE
The organization to be funded should be a reputed non Government organization engaged in
charitable activities and registered for at least three years. The organization should have a PAN
card and should have obtained exemption under Section 80G (5) of the I.T. Act 1961 and should
be registered under Section 12A of I.T. Act 1961.
Applications should be submitted in the prescribed format to the nearest Division of LIC where
the project is proposed to be located along with enclosures mentioned therein. The Application
format may be obtained from the nearest Divisional office.
OBJECTIVES
1. Relief of Poverty or distress.
2. Advancement of education.
3. Medical relief.
4. Advancement of any other object of general public utility.
LIC Golden Jubilee Foundation was established on 20.10.2006, and registered with Charity
Commissioner under Bombay Public Trust Act 1950 with the objective of promoting education,
health, relief of poverty or distress and advancement of other objects of general public utility.
To achieve these objectives, the foundation works with human and capital resources received
from LIC.
Projects range from scholarships, health initiatives, rural education programmes and providing
infrastructural support in fields of education and health.
5.
NUMBER
Amount sanctioned in
ADVANCEMENT OF EDUCATION
150
22,16,30,562
MEDICAL RELIEF
140
22,55,40,817
OBJECTS OF GENERAL PUBLIC UTILITY
35
5,68,60,755
Total
325
50,40,32,134
CATEGORY
Activities
Since the establishment of the Foundation on 20th October 2006 and commencement of its
activities on 17.03.2007, we have supported the following NGO's towards a common cause. As
on date we have sanctioned projects worth Rs. 19.2 crore and the disbursements on these projects
are being done in installment basis depending upon the progress of the said projects. We have
supported NGOs who are working in remotest village in North-East, to tribal area of Kangra
District of Himachal, to remotest village in Pallakad, Bheemanad in Kerala and Bhuj in Extreme
West to Magrahat in remotest Eastern India. We have tried to reach to the remotest villages
ensuring a Pan India Presence.
