Meanwhile ICAF, “a not-for-profit promoting cooperation between the United States and India and advancing the shared values of democracy, inclusive economic development, and mutual respect”, is reported to have raised $1.5 million for the mega event.
The costs of this event are to be covered by contributions from the general public, and the foundation is in the process of applying for tax exemption, ICAF said. Money raised in excess would be donated to charitable and non-profit organizations.
IACF is also bringing out a glossy souvenir for the occasion celebrating the Indian diaspora and sponsors of the pages are being offered complimentary seats. Cost of advertisements in the souvenir range from $2,500 to $35,000.