Definition of Terms
- A donation includes the transfer of an amount of money to the institution by an account payee cheque / draft and real or personal property that generates income. A donation may be made by inter-vivos transfer by a donor, and the donor may:
- specify a particular purpose or use
- may give or donate for the use and benefit of one of the objectives of the Welham Boys’ School Society that may be 'unrestricted' as to the specific use within the School
- Donations earmarked by the donor or donors for a specific purpose will be used for that purpose only. No official or employee of the Welham Boys' School may divert such a donation, whether the principal amount or the income generated thereby, for any purpose other than that specified by the donor. A donation shall be accepted only if it is within the overall object (?) for which the School is run.
- An unrestricted donation is a donation for which the donor has not specified any particular purpose of use and which is given to Welham Boys' School Society for its unrestricted use within the objects of 'Welham Boys' School Society'. The use of an unrestricted donation will be determined by the Principal in consultation with the Finance Sub- Committee / Endowment Fund Committee.
An endowment is established with a Donation that comprises the corpus or principal of the endowment. The corpus is invested and a designated portion of income (Interest Income) is used to fund a project or need as specified by the Donor within the overall Objects of the School. The corpus remains intact in perpetuity, thereby continuing to generate funds to be used by the institution. Normally, the gain in terms of the interest earned which is over and above the amount used for the project, shall be deemed to be part of the corpus of the endowment. Endowments are divided into the following two categories:
- Permanent Endowments
Permanent endowments are Funds designated by the donor to be held in perpetuity. The corpus of these endowments may never be spent and expenditures must be made in accordance with the terms and conditions established by the donor.
- Term Endowments
Term endowments are established when the donor specifies that the endowment shall terminate following a particular date or event and that the corpus of the endowment may be expended in accordance with the terms and conditions specified by the donor. Until the passage of the specific date or event, term endowments operate in a manner similar to permanent endowments, with expenditures made in accordance with the conditions established by the donor.
The Endowment Fund shall be the General Category and will include sub-categories as per the directions of the donors within the overall objective of the School.
Under the General Category of Endowment Fund the Sub - Categories could be such as Endowment Scholarship Fund and so on.
- Minimum Endowment Level
- The Donation for an Endowment Fund will be made in compliance with the applicable Tax Laws, and, after acceptance by the institution, it will be used as desired by the donor.
- A new sub category endowment fund may not be established for an amount less than Rs 10 lakhs. Donations of less than Rs 10 lakhs that are meant to be endowed will be added to an existing endowment sub category at the choice of the donor.
Welham Boys’ School is an institution which not only thrives on the laurels of its students presently studying in the School but also on the success of its Old Boys.
The School is indeed fortunate to have a vibrant alumni community that shares a strong bond with the School and we cherish this relationship.
As a part of a fundraising exercise by the School, the School has set up a "Donors’ Wall". The wall runs along the main field from the side of the White House garden to the subway. The Old Boys of the School can donate a brick priced at Rs. 1 lakh each. The brick, a copper plaque, size 4" by 14" will be placed on the wall bearing the boy’s name, roll number, house and year of passing out from the School. This wall will remain a permanent feature on the campus as a token of recognition of the donation by the Old Boys.
For each contribution made towards this initiative, half of the amount shall be put into the Scholarship Endowment Fund of the School and the other half of the amount shall be used towards a capital expenditure of the School.
This contribution may please be made by way of demand draft in favour of "Welham Boys’ School Society" payable at Dehradun, along with a letter stating the name of the student, roll number, house and year of passing out of School and other details as per the format of the letter provided on the School Website under the sub-head ‘How to Give’.
The Donor is requested to attach a copy of the PAN card of the entity making the donation. The Donor will be entitled to a maximum of 50% exemption under Section 80G of the Income Tax Act.