Endowment: Lessons of the Decade
On January 18, RANEPA hosted the expert discussion, Endowment: Lessons of the Decade, as part of the Ninth Gaidar Forum.
The Russian endowment market is ten years old. Over that period, more than one hundred major organizations working in the most important social well-being areas, i.e. education, science, culture, healthcare, etc., have created their own reserve trust capitals (endowments) relying on sustainable development and financial well-being.
The discussion focused on financial endowments – reserve trust capitals of non-profit organizations formed with donations of money or property, managed by an asset management company to generate income; the NPO uses the resulting investment income for a specific purpose.
“Endowments are not just endowments; this tool should encourage work in all spheres of the economy,” said Svetlana Lavrova, Advisor to the Rector of the European University at St Petersburg, Executive Director of the EUSP Foundation.
The participants also discussed effective management of the endowment; the professionals in their business shared the best market practices.
Most of the endowment capitals in Russia are very small, therefore one of the main tasks for the next decade is to help those who still stay afloat grow,” said Roza Voronina, Director of the Office for Non-Profit Organizations at Gazprombank Assets Management.
At the end of the discussion, all experts agreed that endowment capitals have grown over the last decade, and outlined an approximate vector of activity for the future.
The organizers include the Presidential Academy of National Economy and Public Administration (RANEPA), the Gaidar Institute for Economic Policy (Gaidar Institute) and the Association of Innovative Regions of Russia (AIRR).
The program outline is available at the forum website.
The general partners of the Gaidar Forum are Gazprom and Gazprombank; strategic partners include Novartis, Johnson&Johnson, RZD, MSD, AstraZeneca, the ACIG Group of Companies, Mastercard, Coca-Cola, Russian Agricultural Bank, Pharmstandard JSC, Microsoft; O1 Group, Unilever, EY, Russian Brewers’ Union, Russian Direct Investment Fund are partners and RVC.
The general information partners include the Rossiya 24 TV channel, RBC and TASS news agencies. The official information agency is Rossiya Segodnya. The general online media partner is Gazeta.RU. The general radio partner is Business FM. The strategic information partners are Kommersant Publishers, the RT TV channel and Interfax. The main information partners are Rossiyskaya Gazeta and Federalpress news agency. Other media partners include, PRIME news agency, EFE, Polit.ru, Expert RA, Radio Ekho Moskvy, Parlamentskaya Gazeta, BRICS, National Banking Journal, Banking Review, Financial One, Standards and Quality news agency, AK&M, Ekonomika i Zhizn weekly, Invest Foresight online magazine, Strategia magazine, Naans Media, the Public Administration scientific political journal, the PRO BUSINESS TV channel, the Indicator online science journal, the Bankovskoye Delo (Banking Business) magazine, RNS news agency, Business Excellence magazine, Cision, the Budget magazine, Information platform “Russian planet – Smart Russia”.