Alumni Endowment Fund
About Alumni Endowment at the ISB
The Alumni Endowment Fund at the ISB was started in the year 2010, seeded with generous support from Class of 2004. The initial support to the fund also came from the Class of 2010. It is an outstanding initiative by our alumni since endowments provide the most stable and sustainable source of funds for a school. The Alumni Endowment Fund is even more important since the overall endowment levels for the School is not at par with other top schools and this lays the groundwork for us to propagate this initiative.
Matching Contribution from the School
The Alumni Endowment Fund has also been highly appreciated by our Executive Board. The Board has agreed to match every contribution to the fund with an equal contribution, until the fund reaches a corpus of INR 1 Crore (matched with another INR 1 Crore by the board).
How the Endowment Fund Gets Used
It is expected that with more contributions, the level of endowment will continue to grow over the years. Depending on the fund level, the ISB, in consultation with ISB's leadership, Board, and alumni, will decide the utilisation of the endowment towards ISB’s key priority areas. These will be published and communicated to the alumni community. Some examples of where funds can be utilised include facilitating research in a particular area, organising activities to reach out to the community at large, disseminating research and instituting scholarships, etc.
At current levels, the Alumni Endowment Fund is being utilised to give out a diversity scholarship entitled, "Alumni Endowment Scholarship." Increasing diversity amongst PGP students has been a focus area for our Admissions team and we are certain that scholarships such as this, will become an important vehicle to attract many more deserving applications. The details of the scholarship are as follows:
- Name of the Scholarship: Alumni Endowment Scholarship
- Applicable year: PGP 2012-13 onwards (until further announcement)
- Amount of Scholarship: INR 400,000
- Basis for award: Need and diversity; essentially for prospective students who come from industry verticals or education backgrounds from the lower 5% of the previous class
- Criteria: Students with < INR 10 lakhs of CTC per annum
The funds in the endowment are invested as per ISB policies.
Tanvi Arora from Co2013 has been awarded the first Alumni Endowment Scholarship for the Academic Year 2012-2013. She has graduated in B.A. (English Literature) from Hindu College, New Delhi in 2008. After completion of her graduation she has joined as a Copywriter in Bates (Formerly Bates 141), a marketing communications network under the WPP and later she has moved to Ogilvy & Mather, one of the largest marketing communications companies in the world under WPP Group as Account Executive. She has expertise in Creative Writing and Advertising Management.
Giving to the Endowment
As of now, alumni have given to this endowment through the class gift. However, very soon, we will have a mechanism for individual alums to contribute towards this separately.
The following classes have so far contributed to the endowment:
- Class of 2010
- Class of 2004
- Class of 2011
How the Contribution is Recognised
Depending on the utilisation agreed upon, ISB will appropriately recognise the contributors. For example, the current scholarship is named "Alumni Endowment Scholarship." It is possible for each graduating class to institute separate endowments or annual giving towards other causes as per ISB’s priority. For example, the Class of 2006 can set up an endowment to fund the research, education and outreach in the area of SMEs. The initiative can then be appropriately named against the class. Please browse through our support section to know about other areas where we need support.