The Participation of Alumni in Successful Endowment and Waqf Funds

Abstract

Endowment and waqf funds are essential sources of income for Higher Educational Institutions (HEIs) in many countries, including Malaysia. Identifying the elements that contribute to the success of these funds can help sustain them. The previous scholars discovered that several elements drive the success of endowment funds in HEIs; one such element is alumni networks. This was also discovered to determine successful fundraising in another study. In this regard, this study examines this element in the context of Malaysia to observe its role in determining the success of endowment and waqf funds, particularly in public universities in this country. Simultaneously, this study also investigates the factors that drive the establishment of these alumni networks. To achieve these objectives, this study adopted a qualitative approach using interviews. Several representatives from selected universities were interviewed, and the information obtained was transcribed and analyzed. It was discovered that alumni networks are essential determinants of the success of endowment and waqf funds at the selected universities. Several key factors were identified that can help build alumni networks, such as assistance from alumni associations, a positive experience while studying, and awareness of charitable giving. This study suggests that universities can emphasize these three factors to build relationships with alumni and ensure continual contributions.