Transparency of funding - Alt News
Alt News operates under the aegis of Pravda Media Foundation, a not-for-profit company registered under Section 8 of the Company Act, 2013, with CIN U93030GJ2017NPL099435. All the expenses including salaries of the employees are paid either from the corpus which is a combination of the donations collected via the Alt News website and the financial support received by Pravda Media Foundation in form of grants.
Every article has a donation pledge with a link to our donation page (https://www.altnews.in/englishclone/donate/). We accept donations from individuals with an Indian bank account via a payment portal called Instamojo. Instamojo lets individuals donate either via their card or via net banking. We also accept cheques in the name of ‘Pravda Media Foundation’ mailed to the official address. We do not accept funds in Non-Indian currency. We also do not accept cash donations and/or deposits in cash.
The Independent and Public-Spirited Media Foundation (IPSMF) has provided financial support to Pravda Media Foundation for the purpose of reporting and publishing stories of public interest. The IPSMF does not take any legal or moral responsibility whatsoever for the content published by Pravda Media Foundation on its website www.altnews.in/englishclone or on any of its other platforms.
In the financial year (FY) 2017-18, the donations used were used as follows:
Expenses:
Employee Salary: 28.52 %
Other Overhead Expenses: 6.64 %
Carried over to FY 2018-19: 64.84 %
In FY 2017-18, we received INR 300,000 from Zindabad Trust