IPISA Fund is based on the following guidelines
- To give away adequate scholarships, it is proposed to setup an endowment fund “IEEE PES India Scholarship Award Fund” and the interest earned from the fund only be utilized for the scholarship purposes.
- In the beginning years of the fund, part of the scholarship amount raised will be used to give the scholarship, as the fund value will be small and the interest earned may not be adequate to give the scholarship.
- The fund mobilization will continue to happen till adequate fund to give the scholarship to about 500 students year on year is generated.
- At any time, if the scholarship needs to be discontinued, the amount will be disbursed only to eligible students based on some criteria drawn (may be bigger student size/number) and the fund will not be utilized for any other process.
- The donor can donate the money as below –
- 10,00,000/- towards endowment fee as an “Endowment Donor”.
- 3,00,000/- towards supporting one student fee for four years tenure as “Single Student Donor”.
- 75,000/- towards supporting one student fee for one year tenure as “Annual Donor”.
- 1% of the annual income towards the scholarship as “IPISA 1% Club Donor”
- No commission shall be paid to any party responsible for raising the fund.
- The expenses to run the fund for the various meetings, brochures, statutory payments, accounts keeping shall be drawn from the fund itself and the core committee shall approve the expenses incurred and also lay down the guidelines towards those expenses.