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University of Delhi to launch Alumni Endowment Fund similar to Harvard, Standford

By   /  January 16, 2020  /  Comments Off on University of Delhi to launch Alumni Endowment Fund similar to Harvard, Standford

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New Delhi: The University of Delhi has announced to launch an Alumni Endowment fund and aims to raise funds to match Government’s grant of Rs 1000 crore during the next five years. The Endowment Fund will be used to take new initiatives to build modern research facilities  and educational infrastructure.

Many foreign universities such as Harvard, Standford, Yale, MIT, have built vibrant culture of fund raising via strong network of alumni. Alumni Endowment Fund is very popular way of raising funds for prestigious foreign universities. In India IIT Delhi has recently launched such fund.

Delhi University has been granted the status of Institution of Eminence (IoE) by the government of India which allows it to receive an additional grant of Rs 1000 crore from the Government. The University wishes to match this grant provided by the Government with the Alumni Endowment Fund.

Some special features of the Alumni Endowment fund are:

100% tax exemption

No restriction on the amount of contribution

Alumni, their family members, friends, and relatives are welcome to contribute

Donors’ choice to select the area in which his/her contribution should be utilized

50% funds earmarked for girl students

Display of the information relating to the utilization of funds on the University website

Compulsory audit of the Endowment by the Controller and Auditor General of India

University has also invited suggestions to improve the initiative. Interested individuals can send their suggestions through email on ‘[email protected]’.

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