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Xlri Jamshedpur Endowment Fund

Overview of XLRI endowment fund

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Xlri Jamshedpur Endowment Fund

  1. 1. XLRI Endowment Fund<br />
  2. 2. XLRI Endowment Fund (XEF)<br />The whys<br />To create an institutional mechanism for alumni/ well wishers to contribute towards strengthening XLRI as a premier business school.<br />To enhance the ‘Brand Value’ of XLRI.<br />
  3. 3. The seed behind the concept<br />Create an endowment fund, a transparent and inclusive vehicle embraced by alumni and well wishers, that contributes to the overall growth and eminence of XLRI. While the Batch of 83 is initiating the concept, the intent clearly is to enable an overarching fund that transcends the confines of any one alumni group. <br />Based on the discussions with the Director of XLRI and senior faculty members who welcomed the initiative as a definitive step with positive intent, it was found prudent to set up XEF within the larger ambit of XLRI, which is a Society in itself.<br />In the interest of the desire to fund activities with strategic intent, elicit greater participation of the alumni, create a strong credibility and retain high donor interest, the alumni have proposed an independent status for XEF. The XEF Executive Board will be empowered to decide on the utilization of funds, and XLRI has graciously agreed to this. <br />
  4. 4. The XLRI Endowment Fund (XEF) will be operationalized within the ambit of XLRI<br />Board of Governors<br />XEF Executive Board<br />Director (XLRI)<br />Secretariat<br />Dean<br />Associate Deans<br />Fund Utilization<br />Sub – Committee<br />Fund Mobilization<br />Sub – Committee<br />Chairpersons<br />Other Function Heads<br />XLRI Endowment Fund (XEF)<br />XLRI<br />XEF to be constituted as one of the arms of XLRI. The XEF Executive Board will be an empowered decision making body particularly on the raising and deployment of funds. XEF will have separate bank account(s) and book of accounts for governance. The XEF will draw support from the Director and Board of Governors of XLRI. <br />Organization Structure<br />
  5. 5. XEF Executive Board<br />The XEF Executive Board to have representatives of the alumni and XLRI<br /><ul><li>Alumni members 11
  6. 6. XLRI nominees 2 (XLRI Director plus one)
  7. 7. Member Secretary</li></ul>(non voting)<br />To ensure the fund receives full attention at the critical stages of formation and scale up, the batch of 83 has proposed five members (out of the eleven) who have been involved from the initial concept to set up. Over a period of time the representation of the batch of 83 will be pared down. <br />Batch of 83 has conducted a formal process and ‘elected’ V Narayanan, NS Rajan, Narinder J Singh, S Varadarajan and Bharti Jacob.<br />The same process needs to be conducted to elect six nominees from the larger alumni community<br />While the XEF Executive Board will be the decision making body for the selection of approved programs and deployment of funds, the actual execution will be handled by the Director.<br />
  8. 8. Utilization of Funds<br />XEF Executive Board may recommend utilization in the following areas which contribute directly to enhancing the brand value of the institute:<br />Faculty: Hire well known/reputed faculty members from all over the world. They would contribute through <br />Research and Consulting assignments<br />Management Development Programs reaching a wide audience in industry<br />Better teaching methods<br /><ul><li>Student body: Support student activities such as projects and initiatives which enhance XLRI’s image.
  9. 9. Infrastructure: Help develop ‘strategic’ physical or other infrastructure e.g. IT, Library resources etc. (Not every day infrastructure that XLRI takes care of anyway.)</li></li></ul><li>Fundraising<br />Fundraising for XEF would be an ongoing activity, year after year. However, we envisage a ‘Big Bang’ start in second half 2009 to raise the ‘seed capital’. <br />The target for the first eighteen months, till Dec 2010, is to raise Rs 5.0 Crores (~US$ 1.0 Million).<br />Alumni can contribute in the following ways:<br /> a. One sum immediately on start up<br /> b. One initial sum plus regular contributions for the next 3 – 5 years<br />XEF will be able to receive contributions as soon as the Bank Account is set up in July 2009.<br />To kick start the fundraising, the Batch of 1983 has committed a sum of Rs 50 Lakhs (~US$100,000). Of this 40% is committed as an initial sum on start up. <br />Looking at this figure, a target of Rs 5.0 Crores across the large alumni community seems very feasible.<br />
  10. 10. Fundraising champions<br />The alumni community would need fundraising champions who would reach out to their contacts to raise funds for XEF.<br />The fundraising champions could be organized on the basis of year of passing out (e.g. Batch of XX) and/ or location.<br />