Comprehensive answers address fund safety, tax deductibility, donor direction, volunteering, and governance controls.
FAQs
What is BBYMI?
Builders of Bridges Across Young Minds Initiative (BBYMI) is a U.S.-registered 501(C(3)) nonprofit organization that partners with alumni to establish Alumni-Led Endowment Trust Funds for public secondary and tertiary schools in Nigeria.
We work with alumni to raise funding both locally and internationally and provide structuring guidance to ensure each Endowment is sustainable and professionally governed.
What is an Alumni-Led Endowment Trust Fund?
An Alumni-Led Endowment Trust Fund is a legally established charitable trust created and funded by a school’s alumni.
The capital is preserved permanently and invested. Only investment income is used to fund scholarships, teacher support, infrastructure, and other approved programs.
This ensures long-term impact beyond one-time donations.
Who establishes the Endowment Trust?
A single set, or even 5 – 10 like minded alumni can establish a trustee- backed Endowment Trust – not the school.
Alumni execute the Trust Deed, appoint governance committees and mobilize seed capital to create permanent funding structure for their Alma mater
Who manages the funds?
Each Endowment Trust Fund is managed by a licensed independent Trustee in Nigeria.
The Trustee safeguards the capital, manages investments, and releases funds only upon formal approval by the Endowment’s Management Committee.
BBYMI does not hold or control the funds directly.
What is BBYMI’s ongoing role?
While each Endowment Trust is alumni-led and independently governed, BBYMI continues to provide administrative and coordination support to help ensure the Trust meets its objectives.
This may include:
Fundraising support (local and international)
Governance guidance
Reporting coordination
Documentation and compliance support
Donor engagement assistance
Program monitoring coordination
BBYMI supports — but does not control — the Endowment Trust Funds.
Can the capital be spent?
No.
The capital (corpus) is preserved permanently. Only approved investment income may be used to fund programs and grants.
This protects long-term sustainability.
What do School Endowments typically Fund?
Depending on the approved Usage Policy, funds may support:
Merit-based scholarships
Need-based student support
Teacher professional development
Equity and inclusion initiatives
Girls’ education programs
Infrastructure and operational stabilization
What is the role of the school?
The school is the beneficiary of the Endowment.
School leadership may recommend needs and verify applicants, but final approval of grants rests with the Endowment’s Management Committee, and all disbursements are made by the licensed Trustee.
How can alumni get involved?
Alumni can:
Contribute to their school’s Endowment
Serve on governance committees
Support fundraising efforts
Volunteer professional expertise
Alumni leadership is the foundation of every Endowment Trust.
How can an alumni group start an Endowment?
Alumni groups may partner with BBYMI to:
-Structure a formal Trust
-Appoint a licensed Trustee
-Establish governance committees
-Secure seed capital
-Raise funds locally and internationally
-Approve program and investment policies
BBYMI provides ongoing support to ensure the Endowment is sustainable, transparent, and impactful.
