ITS Shares Information Regarding Endowment Fund Management at UB

On Friday (21/6), UB endowment fund management team held a meeting with Dr. Machsus as Head of the Endowment Fund Management of the Sepuluh November Institute of Technology (ITS). The activity was carried out in the Rectorate Building Meeting Room, 7th floor. The activity was carried out in the context of discussing and sharing information regarding endowment fund management carried out by ITS.

The meeting was attended by UB Chancellor, Prof. Widodo, Deputy Chancellor (WR II) for Finance and Resources Prof. Dr. Muchamad Ali Safaat, SH., MH, Head of UB Endowment Fund Management Team Achmad Wicaksono Ph. D, along with other team members. In his speech, UB Chancellor expressed his gratitude for the willingness and arrival of Dr. Machsus as Head of ITS endowment fund management at UB. UB is currently serious about starting endowment fund management. Various methods will be used to collect funds, including aid schemes from alumni, other parties and even endowments.

It is hoped that UB will get more energy with good endowment fund management. We cannot deny that many large universities abroad and within the country can improve their quality and existence with the support of good endowment fund management.

“We would like to express our gatitude to Mr. Machsus for his willingness to come and share information at UB. UB is currently serious about starting to develop and manage UB’s endowment funds. Hopefully the information presented will be able to help UB to manage endowment funds well and be able to help improve UB’s quality regarding the implementation of the tri dharma of higher education,” explained Widodo.

On that occasion, Machsus gave examples, one of which was that at Harvard, endowment fund management has reached around 50 years of age. The hope is that if we start now, then in the next 50 years it can be as big as the example above. The process of raising funds to strengthen education also needs to be carried out by universities in Indonesia. In Indonesia, the concept of waqf can be adopted to manage endowment funds.

“At the moment, ITS still has small resources. It requires long time and process, so ITS starts this program as soon as possible. As we know, the top ten universities in the world currently receive strong endowment support. This then became a motivation for ITS to immediately manage its endowment funds well, explained the man who had just been appointed as Deputy Chancellor II at ITS.

“In the past, whatever donations were given by alumni, they were always distributed as a whole. For example, given as a scholarship, then everything will be distributed to the recipient. Concerns arise if the distribution of funds is not on target and is not effective. ITS then changed this paradigm, donations from alumni were then channeled into the endowment fund, then managed, and then the results from the management of the endowment fund were used to support the implementation of the tri dharma of higher education, for example to provide scholarships. In the future, it is hoped that it can help develop research and serve the community. To raise funds, ITS has a strategy, for example participating in various activities carried out by alumni,” continued this UB Civil Engineering doctoral alumnus. [pon/UB PR/ Trans. Iir]