The University of Delhi has planned 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 has been initiated to help the University take up new academic initiatives like building new institutions in the fields where there is a gap.
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@example.com’.