SGGS KCM ENDOWMENT FUND
S.G.G.S. Khalsa College, Mahilpur is a regular recipient of the Grant-in-Aid from the Government of Punjab and General Advancement Grants from the U.G.C. under sections 2(f) & 12(B) of the U.G.C. Act, 1956. All this financial aid is not sufficient to fulfill the requirements of the college in meeting the challenges of emerging trends in the academic world. Therefore, in order to generate its own resources for the general advancement of the Institution, the Managing Committee of S.G.G.S. Khalsa College, Mahilpur, vide its meeting held on 25th May, 2017, resolution no. 03, decided to establish the SGGS KCM Endowment Fund.
The SGGS KCM Endowment Fund has come into existence with a corpus of Rupees 1,25,000/- as an initial contribution made by Dr. Raghubir Singh Basi of Kharaudi, an alumnus of the college.
Rules for the Operation of SGGS KCM Endowment Fund
1. A Bank Account in the name of SGGS KCM Endowment Fund will be opened in the State Bank of India, Branch Mahilpur, which will be operated by the Principal of the College and any two of the three office bearers of the College Managing Committee, i.e. the President, the Manager and the General Secretary.
2. The Bank will be instructed to put the contributed amount in a fixed deposit and add 20% of the interest accrued on the invested amount back into the base fund for investment.
3. Each year 80% of the interest will be made available by the bank to the college for allocation to various budgetary categories on or about March 31st.
4. The budgetary categories will be decided on the basis of donor preferences such as sports, students’ scholarships, faculty development, BHSB Entrepreneurship Centre, any other academic activities and general maintenance of the college.
5. The donor preferences in the allocation of investment income will be strictly observed.
6. An office of the Alumni and NRI Affairs will be set up with an Advisory Committee to garner additional contributions to build up the corpus on an ongoing basis.
7. In due course of time, an Investment Advisory Committee/ Manager will be appointed to oversee the investment of the Endowment Fund.
8. The rules governing the SGGS KCM Endowment Fund can be changed only on a certain emergency basis on the recommendations of the Alumni & NRI Affairs Advisory Committee and approved by the unanimous vote of the College Managing Committee.
Voluntary Contributions/Donations towards SGGS KCM Endowment Fund
Any Alumnus/NRI/Employee/Retired Employee of the College/ Individual willing to contribute to the Fund may do so by sending Demand Draft/ Cheque at the following address:
Account Name: SGGS KCM Endowment Fund
A/c No. 37045882191
Bank Name: State Bank of India
Address: Jaijon Road, Mahilpur.
Branch Code: 50710
All donations/contributions will be duly acknowledged.