Can capital assets purchased with the help of foreign contributions be acquired in the name of the office bearers of the association? Can an association invest the foreign contribution received by it in profitable ventur

No. Any fixed asset acquired out of the foreign contribution and any article received in kind from the foreign source should be in the name of the association and not in the name of any individual in the association. No. The association should utilize such funds for the welfare purpose or activities for which it is received. The utilization should be in line with the objectives of the association. However, foreign contributions can be utilized for self-sustaining activities, not meant for commercial purposes.