10 Years of the Endowment Market: Results and Development Trends

January 14, 2017, 10:00 – 12:00, Building 5, 3rd Floor, Room 307

Over ten years after the inception of the endowment capital market in Russia, we have gained extensive experience and practice in applying this tool to support the nonprofit sector. Experts estimate that the aggregate assets involved in endowment capital amount to approximately RUB 20 bln, and the annual proceeds from endowment capital are estimated at over RUB 1.5 bln. According to market practitioners, endowment capital is an efficient tool for long-term financing and ensuring financial sustainability, allowing you to complement (and in some cases, substitute for) the existing funding. However, the available practical knowledge suggests there are a number of challenges in the applicability of the existing laws and also there is a need for further improvement of the legal framework and for consolidation of efforts of public authorities and the non-profit sector to create favorable conditions for the most efficient endowment capital development.

Issues for Discussion

  • Summing up the results of activities of endowment markets -- the market and its players ten years later
  • Evaluation of applicable laws and application practices
  • Difficulties in the development of endowment capital
  • New prospects: What support can funds count on?


  • Irina Tolmacheva
    Irina Tolmacheva

    Head, Research Projects and Intellectual Property Division, RANEPA


  • Artem Shadrin
    Artem Shadrin

    Director, Department for Strategic Development and Innovation, Ministry of Economic Development of the Russian Federation

  • Irina Vdovenko
    Irina Vdovenko

    Head, Endowment Capitals Program, Donors Forum

  • Daria Miloslavskaya
    Daria Miloslavskaya

    Branch Director, International Center for Not-for-Profit Law in Russia; Chairman, Association of Lawyers for Civil Society

  • Alla Samoletova
    Alla Samoletova

    Chief of Staff, Rector’s Office, European University at St. Petersburg

  • Lyudmila Panteleeva
    Lyudmila Panteleeva

    Member, Board of Trustees, Peterhof Endowment Fund

  • Elsa Dyachkova
    Elsa Dyachkova

    Chief Specialist, National Personnel Training Foundation

  • Evgeniy Balatskiy
    Evgeniy Balatskiy

    Head, Problems of Innovation Activity in the Higher Education System Division, the Russian Institute of Economics, Policy and Law in Scientific and Technical Sphere

  • Maxim Yurevich
    Maxim Yurevich

    Senior Researcher, Science and Technology, Russian Institute of Economics, Politics and Law

  • Elvira Aleynichenko
    Elvira Aleynichenko

    Head, Project Grant Competitions, Gazpromneft