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 ‘endowment@du.ac.in’.
