The objectives of NED ALEF is to improve its academic standing by promoting, supporting and fostering excellence in NEDUET’s academic and research programs. NED ALEF has been facilitating the achievement of these objectives through grants for activities and projects that strengthen the institution, which includes, among other things:
a. Faculty and student research capabilities and resources
b. Establishment of laboratories for engineering and related activities
c. Building and expansion of new labs in the evolving areas
d. Innovative senior design projects
e. Travel and other costs for presentation of selected technical papers by NEDUET faculty or students at domestic or international conferences
f. Workshops and lectures by eminent engineers and scientists at NEDUET
g. Development, update and maintenance of curricula to international standards
In October 2012, at NED 2012 DC – 8th International Alumni Convention, in Alexandria, VA, following a presentation by the Working Committee, NEDians with great zeal and fervor, unanimously decided to establish the NED ALumni Endowment Fund ( NED ALEF )
In November 2012, BOD NEDIAN-NA passed a resolution to form NED ALEF. In April 2014, after consultations with a CPA and an attorney, and upon the recommendation of the Working Committee, NEDIAN-NA BOD decided to set up NED ALEF as a Standing Committee of NEDIAN-NA, per Article F.5 of NEDIAN-NA By- laws.
In June 2014, NED University of Engineering and Technology (NEDUET) and NED ALEF signed a Memorandum of Understanding (MOU) establishing a relationship and operating guidelines for NED ALEF and NEDUET working together for improving NEDUET.
The Charter and Operating Guidelines were adopted by NEDIAN-NA in December 2014.
According to the Charter, NED ALEF is operated by
📷 The Policy Making Body - Board of Trustees (BOT) – consisting of five to seven members. 📷 The Operations Body - Executive Council (EC) – consisting of seven members.
(Both have tenures of two years each.) 📷 Regional Councils – To Be Formed
The purpose of NED ALEF is to raise, invest, and disburse funds for strong, results-based educational and research objectives of the institution of NEDUET, with the following approach:
NED ALEF January 31, 2019
a. Preserve capital, grow investment
b. Achieve growth of the endowment accounts by growing the aggregate portfolio value
c. Initially, use a portion of donations received each year to fund projects – (the idea was to get the process started and establish traction)
d. Over time, reduce the proportion of donations in a given year that are directly allocated to projects so ultimately projects are funded by income from investments – to grow the investment for the long-term
Though the potential is unlimited, NED ALEF, has begun with somewhat modest goals. So far just over $ 138k has been collected, we would like to collect another $ 100k by the end of this year 2019.
NEDians - Step up and matter. Let us Build a Better NED.
