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Endowment prizes
Title of the Practice
Endowment prizes – primarily sourced form individual, stakeholder of the institution.
Objectives
- To create a sense of belongingness to the institution.
- To create an induction among stakeholders to constitute such endowments.
The Context
Endowment prizes are constituted whereby the corpus is deposited and the interest earned out of it is given as prize money to beneficiaries as set out by the donors. A strong endowment structure is proof of significant contribution from stakeholders to their own institution out of a feeling of belongingness.
The Practice
Individual stakeholders including alumni, staff, members of the management are encouraged to institute endowment prizes for students. Students who are earlier beneficiaries have instituted their own endowments in later years. This creates a cycle and current students are benefitted.
Evidence of Success:
There are a total of 174endowments with a corpus of Rs. 29,40,201
