Amarican-Indus Corporation (AIC) is a Private, Non-Profit Foundation initially set up as a public charity in accordance with United States of America (USA or US) Internal Revenue Service (IRS) Tax Regulations 501 C (3). AIC is located at 12509 Palatine Court, Potomac, MD 20854, U.S.A, within the greater metropolis of Washington, DC, the U.S. Capital. AIC was set up and has been fully financed to-date by Vaikunth and Sujata Gupta, to honor their respective parents, Late Sh. Amar Nath Gupta and Late Smt. Amarvati Gupta, and Late Mrs. and Dr. Kamla Aggarwal and Dr. S. P. Aggarwal, and the Indian Institute of Technology (IIT), Banaras Hindu University (BHU), together IITBHU, Class of 1974.
The aim of this initiative is to provide meritorious underprivileged students an opportunity to compete with the privileged and study in one of the most premium technical institutions by providing them with the required training and financial support.
AmArican-Indus Corporation's mission is to boost the economic conditions in under-privileged regions, particularly rural areas in India and the USA. The programs funded by the organization enable those less fortunate than others to train in specific technical professions at little or no cast with the hope of developing better lives for themselves and their families. These programs are still being developed, but may include setting up regional training centers where the individuals will have access to computers and on-line courses developed at various institutions, assisting needy students in preparing for the Indian Institute of Technology (lIT) Joint Entrance Examination(JEE), providing scholarship opportunities to needy students selected by the Organization, and/or providing these individuals with personal computers to access the internet and training courses.
The organization plans to jointly develop a program with a university whereby on-line courses could be developed/taught by students – either seniors or graduate students in technical professions at the participating universities. By developing or teaching an online course, a student will receive credit towards his educational requirements for having competed one semester course. Additionally, needy students participating in the development/teaching of these online courses may receive stipends from the organization directly or from the university or another non-profit (which may be funded by organization).
The organization’s primary objectives for this program are to (1) develop partnerships with participating universities, (2) provide some nominal stipends to needy students in participating universities, (3) identify under-privileged test areas and recruit students, (4) lease minimal classroom space where students could come in and access internet in rural areas and (5) provide personal computers to students benefiting from online training and courses.
The Board of Directors shell be entirely volunteer, with no payment for services to be provided to any individual representing the organization (either as a member of the Board of Directors or as a volunteer member), except for reimbursement of expenses for fundraising activities as authorized by the board.
No part of the net earnings of the organization shall inure to the benefit of, or be distributed to its members, officers, or other private persons, except that the organization shall be authorized and empowered to pay reasonable compensation for services rendered to the organization in furtherance of the purposes set forth in the Articles of Incorporation. No part of the activities of organization shall be the carrying on of propaganda, or otherwise attempting to influence legislation, and the organization shall not participate in or intervene in any political campaign on behalf of any candidate for public office.