Sri Brajdeo Sahay not only inherited the basic instinct to help the down trodden, from parents Shri Sukhdeo Sahay and Smt. Sarojini Sahay, irrespective of caste and creed but despite limitations humbly pursued with support of spouse Smt. Indrani Sahay. Education was visualized early by them as an all empowering tool and they made even sacrifices to facilitate it to family members along with some helps to needy.
In October, 1997, as a befitting memory as well as to give concrete shape to their intentions, the offspring's decided to start a Public Charitable Trust in their home town Daltonganj, district Palamau of erstwhile Bihar state. It was named “Brajdeo Sahay Memorial Trust”. The basic objective of the trust was to accomplish the desires of late Brajdeo Sahay for upliftment of poor girls and boys in the field of education. Simultaneously, two scholarships of Rs.6000/--each annually, one for girl and other for boy, was launched and awarded during Sarvjanik Chitragupta Puja in November, 1997 and is being continued with modifications.
Observing and reading about the economic plights of the country’s poor, Founder Members (Offspring’s) of Trust had been often discussing and debating the needs to do much more than being done. Requirement was of inclusive growth to ensure that poor have access to health, education and safety net. Enlarging vision and area of operation, on 22nd June, 2005 another Trust namely, “Indrani Brajdeo Sahay Foundation” was formed at New Delhi. All the offspring’s bequeathed their entire share of ancestral properties situated in and around ancestral village TARHASI as well as at Daltonganj all in Palamau district of Jharkhand State, in favor of the Foundation and pledged to contribute more in future. This Foundation was registered at Delhi on 05.07.2005.
Subsequently, the previous Trust, Brajdeo Sahay Memorial Trust, by a resolution dated 16.03.2006 decided to merge the identity of that Trust with IBS Foundation and transferred their entire assets and liabilities to this Foundation. Foundation accepted it and increased the annual scholarships from 2 to 3 students w.e.f. 2006 itself. On 09.11.2007 the Director of Income Tax (E), New Delhi has exempted the Foundation u/s 12AA, read with Section 12A as well as u/s 80 G (5) (vi) of the Income Tax Act, 1961. The latter was for the period from 01.04.2007 to 31.03.2009 and again has been extended by the Director of Income Tax, Delhi which is still operational.
Donors are eligible for 50 per cent rebate on donated funds in terms of exemption accorded to the Foundation by Director of Income Tax (E), New Delhi u/s 80G (5) (vi) of the Income Tax Act, 1961.