Delhi University has launched an alumni endowment fund through which it aims to raise funds to match Government’s grant of Rs. 1000 crore from the Government during the next 5 years. The Endowment Fund of the University of Delhi will help the University take up new academic initiatives including building new institutions in fields where there is a gap in the University.
Delhi University was granted the status of Institution of Eminence (IoE) by the Government of India. The IoE status entitles the University to receive an additional grant of Rs. 1000 crore from the Government. It is this grant that the University wishes to match through support from its alumni.
The Endowment Fund will have some special features:
- 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’.