US-based philanthropists made a generous contribution to reinforce IIT Mandi’s mission to promote a wide range of developmental initiatives
MANDI (India CSR): Indian Institute of Technology Mandi (IIT Mandi), a leading second-generation IIT, is proud to announce the receipt of a generous donation exceeding USD 86,000 (Rs. 75 Lakh) from Satish Agarwal and Kamlesh Agarwal, distinguished philanthropist based in United States. This generous contribution is designed for the establishment of the “Satish and Kamlesh Agrawal Charitable Fund, Houston, Texas, USA.”
This contribution aims to serve as a sustainable endowment to support a wide range of developmental initiatives at IIT Mandi, including student scholarships, faculty/student travel grants, infrastructure development, smart classrooms, research and innovation projects, etc.
The attractive feature of this initiative is that the Charitable fund will function as a Master Account, means only the interest income (up to 90%) will be consumed annually for the approved purposes, while the principal corpus (amount) will remain preserved to ensure long-term financial sustainability.
Oversight of fund allocation, project selection, and reinvestment will be managed by a Committee for Execution (CE) comprising IIT Mandi faculty members.
Prof. Laxmidhar Behera, Director, IIT Mandi, extended his heartfelt appreciation to Satish and Kamlesh Agrawal for their generosity and vision in supporting higher education and innovation.
He added “The collaboration was facilitated by the IIT Roorkee Foundation (IITRF), USA. We, at IIT Mandi, expresses our its gratitude to the Board of Directors (BOD) of IIT Roorkee Foundation for their selfless approach in transmitting 100% of all donations received from donors to IIT Mandi and other recipient organizations in India. The BOD of IITRF pays all the expenses from their own pockets for coveringto cover all expenses of the foundation. IIT Mandi expresses its sincere thanks for their kind guidance and continued support in strengthening philanthropic collaborations.
Expressing gratitude, Prof. Varun Dutt, Dean of Resource Generation & Alumni Relations (DORA), IIT Mandi, said, “We are deeply thankful to Satish and Kamlesh Agrawal for their generous and visionary contribution. This Charitable Fund sets an example of a sustainable model of philanthropy to advance academic excellence, research, and innovation at IIT Mandi for years to come.”
Sharing his thoughts, Satish Agrawal remarked, “This contribution is dedicated to promoting education, research, and community welfare through IIT Mandi. It reflects our belief in creating lasting societal impact through knowledge and innovation.”
The DORA Office at IIT Mandi sincerely expresses their gratitude to Satish Agarwal and Kamlesh Agrawal for their generosity and commitment to advancing the cause of education, research and social development.
(India CSR)
