The Dennis Memorial Grammar School (DMGS) Old Boys Association, based in Onitsha, Anambra state, is making significant strides toward reaching a remarkable $2.5 million target for its endowment fund. Established by the school’s alumni, the DMGS Endowment Fund (DEF) aims to provide crucial financial backing for both immediate and long-term needs of the institution.
Initially aiming for $1 million, the association, under new leadership, has raised the bar to $2.5 million. The endowment operates on a ten-year vesting period, with the ambitious goal of achieving full funding by December 31, 2025. Once fully capitalized, the investment returns will be channeled towards supporting academic programs and enhancing physical infrastructure at DMGS.
Managed by a dedicated Board of Trustees, the fund endeavors to reach its full capacity ahead of the institution’s centenary celebration in November 2025. This achievement marks a significant milestone, as it represents the highest fundraising endeavor by any secondary school alumni association in Nigeria.
Prof. Beze Adogu, Chair of the DMGS Endowment Fund, expressed profound gratitude to the contributors, highlighting the invaluable impact of their support, whether through time, skills, or financial contributions. He assured the alumni that their generosity is deeply appreciated and will be utilized judiciously for the betterment of DMGS.
As of February 20th, 2024, the DMGS endowment fund has amassed a total of $485,000, a testament to the dedication and hard work of individuals committed to the welfare of their alma mater. Prof. Adogu lauded the efforts of those who participated in the Emma Abara “60 Man Challenge,” a fundraising initiative that significantly boosted contributions.
Furthermore, he shared a heartening gesture from an anonymous alumnus from the University of Jos, who donated $1000 to support the cause, despite lacking personal ties to DMGS. Prof. Adogu reiterated the assurance that all contributions are safeguarded and will be utilized exclusively for the benefit of DMGS.
“The funds donated will be directed towards initiatives aligned with the school’s mission and vision. The DMGS Endowment Fund remains hopeful that those yet to contribute will join in, as we collectively uphold the legacy of Grammar School,” Prof. Adogu concluded.