Microsoft CEO Satya Nadella(L) and World Bank President Ajay Banga
Credit: Reuters Photo
One of India's oldest educational institutions, Hyderabad Public School (HPS), that counts Microsoft CEO Satya Nadella, President and CEO of Adobe Systems Shantanu Narayen, World Bank President Ajay Banga, Cricket Commentator Harsha Bhogle among its prestigious alumni, is celebrating its centenary year in 2024. And this Sunday, on December 24, they are expected to attend the alumni fundraising dinner going to be held in the city.
HPS has set an ambitious target to raise Rs 100 crore from its alumni by 2025 to improve infrastructure. The school plans to invest Rs 25 crore over the next few years to create state-of-the-art sports infrastructure to produce Olympic-level sportspersons and the remaining amount on other school infrastructure.
There has been an increasing dependence of educational institutions on alumni funds. These financial contributions contribute to the financial aid programs, developing infrastructure, establishment of research and entrepreneurship centers among others.
While higher education institutions have built a strong philanthropic ecosystem with IITs, Harvard, and Ivy League schools, schools in India have paled in comparison.
According to recent reports - Harvard has the biggest endowment in the US, standing at just over $50 billion. A major chunk of its revenue comes from gifts from alumni, parents and friends of the school.
Hyderabad Public School Society president Gusti Noria said that the tradition of alumni donations runs down from current donors to the beneficiaries of these donations.
“Driven by alumni, Hyderabad Public School is initiating the concept of educational philanthropy, in line with the best practices being adopted by institutions of global excellence. This espoused alumni-fundraising initiative has been gaining momentum in the centenary year. The funds will be leveraged to tap modern pedagogical tools of experiential learning, including the establishment of AI lab facilities, robotics facilities, multisport complex, provision of scholarship grants, mentorship and entrepreneurship programs,” he added.
A recent alumni donation sparked a discourse among academicians and educational institutions when Nandan Nilekani made the country’s largest alumni donation of Rs 315 crore to his alma mater IIT Bombay. This phenomenon, long established in the West with institutions like MIT and Stanford, is now gaining momentum in India, with the alumni of the not-for-profit legacy institutes ensuring a comprehensive developmental platform for the students, in academics and beyond.