“An endowment fund is a kind of investment fund, with amounts frequently withdrawn from the fund to meet general and specific needs. The fund consists of the number of investments made and income earned on such investments.” – From Wall Street Mojo
Endowment funds are a global phenomenon established by educational institutions to ensure their long-term financial stability and program support. They rely on donations from alumni, corporations, and philanthropists, investing these contributions to generate income. This income is then utilized to fund activities for the institution's benefit, often in perpetuity. Many renowned institutions abroad have successfully managed endowment funds for decades, accumulating billions of
dollars in assets.
In India, the IIT Delhi Endowment Fund was inaugurated on 31st October 2019, by the former President of India at the Rashtrapati Bhavan in Delhi. It became the
country's first endowment fund for IIT Delhi, following the model of prestigious universities like Harvard, Yale, Stanford, Cambridge, Oxford, and
others. Governed by its own board of directors comprising esteemed alumni and the director of IIT Delhi, the fund operates through the independent section 8
company "IIT Delhi Endowment Management Foundation." With a vision to reach a fund size of Rs 10,000 crores over the next decade, the IIT Delhi Endowment Fund has been operational for just over two years. The
foundation office is a modern, state-of-the-art facility located within the IIT Delhi campus, in the heart of South Delhi
