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Corpus Fund - What and How?
Posted on Sunday, July 03 @ 16:38:26 MST by gops
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====FROM P.K.GARG, ALUMNI AFFAIRS at IIT ROORKEE
Q ? What is a corpus fund and where is the funds used.
A - The purposes of corpus funds are many, inparticular those areas where we cannot/don’t spend/have Government funds. Some of the activities where corpus funds are used are :
(a) Providing better facilities to the students in the hostel.
(b) Providing financial help to outstanding students to meet international/national travel for presenting paper in the conference.
(c) Providing financial help to outstanding students to meet international travel for higher studies abroad.
(d) Providing financial help to needy students to complete the study.
(e) Establishment of FM Radio in the Campus
(f) For publishing Alumni Newsletter.
(g) Providing medical help to students in case of heavy expenditure involved.
(h) To improve quality of life of students in the Campus.
(i) To provide hospitality to Alumni visiting IIT Roorkee.
(j) To meet expenses to invite distinguished Alumni to deliver talk in the Campus for the benefits of the students.
(k) To meet expenses on four distinguished Alumni Awards which we have started from this year.
(l) Any other, not covered above, to be used by the Institute for the welfare of students and Institute where Government money is not available.
Other IITs have good amount of corpus exceeding 10 crores of Rs.
At present, donation from USA can be routed only through Dr. Atma Sahu, so that IITRAA North America Chapter provides Tax benefit receipt to Alumni in America. Our receipt for Tax benefit works only in India. We have to find a similar way from the funds received from other countries. I am not sure at present what is the best way for it. Can you please suggest anything for donors from other countries.
P.K.GARG
Professor in charge, Alumni Affairs, IIT Roorkee.
picaa@Iitr.Ernet.In
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