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IITM foundation fee disclosures
IITM Foundation Board has approved the establishment of a Fee for all Project Funding Remittances to IITM effective February 2017.
This Fee is on a sliding scale starting at 5% and stepped down by 1% steps as shown in the table below, with a cap for funds above $2Million.
IIT Madras has committed to make up this fee, when the Funds are received and prior to deployment.
- $0 to $250K — 5% fee (range $0 to $12.5K)
- $250K to $500K — 4% fee (range $12.5K to $20K)
- $500K to $1M — 3% fee (range $20K to $30K)
- $1M to $2M — 2% fee (range $30K to $40K)
- More than $2M — 2% (capped at $40K)