OF THE FUND · Любовь к родине начинается с семьи. Фрэнсис...
Transcript of OF THE FUND · Любовь к родине начинается с семьи. Фрэнсис...
PRESS-KIT
Любовь к родине начинается с семьи.
Фрэнсис Бэкон
Наша родная Русь более всего занимает нас своим великим будущим, для которого хотим мы трудиться неутомимо, бескорыстно и горячо.
Николай Добролюбов
PARTNERS
OF THE FUND:
“The love for the country begins from a family”.
Francis Bacon
“We are concerned about the great future of
our native Rus' more than anything else and
we want to work for it tirelessly, selflessly and
passionately”.
Nikolay Dobrolubov
About the Fund
The Istoki Endowment Fund was registered in March 2013 in order to
create a unified transparent system for attracting donations and their proper
utilization as well as to improve financial reporting to donors.
The Fund was established by Vladimir Yakunin, Chairman of the Board of
Trustees of the Foundation of St. Andrew the First-Called and the Center of
National Glory.
Mission of the Fund
Strengthening the spiritual fundamentals of the Russian society and moral
education based on Orthodox principles and honorable examples of the
Russian history and culture.
Income from investments will be directed to the development of the
existing programs of the Foundation of St. Andrew the First-Called and the
Center of National Glory which help to attract the general public’s attention to
the issues of spiritual and moral renaissance of the Russian society and
respect for the history and culture of Russia.
Special purpose funding covers the following aspects:
Providing support to education and training in historical and cultural studies
Encouraging patriotic spirit and civic responsibilities among young people
Providing financial support to educational institutions or projects, founding
schools or training center
Granting scholarships and grants
Financing research and socially important projects
INVESTMENT
The Fund allows the
investment of
received donations
pursuant to Federal
Law No. 275-FZ of
2007 “On the Procedure
for the Establishment
and Use of
Endowments of Non-
commercial
Organizations”.
THE LEADERSHIP
IN THE SECTOR
The fund is one of the largest endowments
in Russia with the volume of attracted
donations of about 800
million rubles.
Financial Structure of the Fund’s Operations in Russia
HISTORIC EXAMPLES
The first endowment in
the history was formed
by philosopher Plato for
his academy (it was a
small estate). Academy
had more than 900 year
long history.
Another analogue of
contemporary endow-
ment funds appeared in
the UK in 1502 when
Lady Margaret Beaufort,
King Henry VIII's grand-
mother, made donations
for establishment of the
theology departments at
Oxford and Cambridge
Universities.
In the U.S. the most fa-
mous endowment funds
are Harvard, Yale,
Princeton and Stanford
universities' funds. Their
volume amounts to bil-
lions of dollars (in parti-
cular the Harvard Uni-
versity endowment at
year-end 2012 totaled
32.7 billion dollars).
Nobel Foundation is the most famous inter-
national endowment
fund established in XIX
century. According to
Alfred Nobel's will, the
funds from the sale of
his property were to be
invested in safe securi-
ties the interest from the
income of which are now
issued as an award to
scientists — for out-
standing achievements
in science — and public
figures — for their contri-
bution to the achieve-
ment and maintenance
of peace.
What do Endowments Mean?
Endowment of non-commercial organization means the
part of the property of a non-commercial organization formed
by donations and transferred for trust management to a
management company for generation of income used for
financing the statutory activities of the non-commercial
organization.
In Russia the minimum term of endowment formation is 10
years. In the world practice the vast majority of endowments
are established forever. The income from management can
only be used for the purposes defined during the endowment
formation.
Advantages of an Endowment Fund Structure
Stable long-term financing of the programme
Donation to an endowment fund provides stable long-term
financing of charity programmes and long-term partnership
not depending on the financial conditions of the donors in
future.
Intended use of capital
Return earned on invested donations is transferred to the
Fund’s programmes strictly in accordance with the donor
agreement and a decision of the Fund’s Management Board.
Financial transparence
The Fund is controlled by the Management Board and the
independent Board of Trustees. Large donors may be given
chairs in the Board of Trustees. The fund will regularly
prepare and publish on its web site financial report covering
its activity and the use of capital.
Different forms of donations
Donations to the endowment fund can be made in the form of
cash contributions, securities or real estate.
Tax deduction
Personal income tax deduction equal to the amount of
donation made into the endowment fund is provided according
to the Russian income tax legislation (limited to 25 % of a
year’s taxable income).
Individual approach
The Fund’s management takes into account preferences of
each donor with respect to the donation form and structure.
Scope of Endowments Education
Science
Health protection
Culture
Physical fitness and sports
(except for professional sports)
Art
Social care (support)
Spiritual and moral education
Environment protection
Free legal aid to citizens and their legal education
Archiving
Endowments in Russia
According to Donors Forum a non-commercial
partnership of grant-awarding organizations in Russia
at the moment 157 endowment funds have been
registered which accumulate over 15,7 billion
rubles.
87 of 157 registered funds have already formed the
endowment and the others are in the process of
attracting donations.
The largest endowment funds were established for
support of universities. For a university the
endowment can be both a "safety cushion", which
guarantees additional income, and a source of
funding for innovative and long-term programs.
Plato’s Academy—the first endowment in the history
Nobel Fund—one of the most famous international endowments
MGIMO Development Fund - one of the largest and most famous endowments in Russia
Harvard University—one of the largest endowments in the world
* according to Donors Forum a non-commercial partnership of grant-awarding organizations in Russia , February 2016
Education
Public health and social support
CultureSportPRT
DISTRIBUTION OF ENDOWMENTS BY SUPPORT SPHERES*
Endowments: Main Issues How is an endowment formed?
An endowment can be formed only through donated funds and
since 2012 the endowment which has already been formed can be
replenished with securities and real estate.
When is an endowment considered to be formed?
An endowment is considered to be formed, if its size is equal to or
exceeds 3 million rubles, the endowment council is established and
the endowment is transferred for management to the management
company.
What is legal model of endowment formation?
Two models of endowment formation are covered by law: as part of
operating non-commercial organizations (NCOs, namely such as
INO (independent non-profit organization), funds, public
organizations, public foundations and religious organizations) and
as an independent new entity.
What laws are endowments regulated by?
Activities for endowment formation and management are regulated
in Russia by Federal law No. 275-FZ "On the Procedure for the
Establishment and Use of Endowments of Non-commercial
Organizations" of 2006, as well as by Federal laws No. 276-FZ
of December 30, 2006 "On Amendments to the Certain Legislative
Acts of the Russian Federation in Connection with the Adoption of
the Federal Law "On the Formation and Use of Endowments of Non
-commercial Organizations"" and No. 328-FZ of November 21,
2011 "On Amendments to Certain Legislative Acts of the Russian
Federation Regarding the Formation and Use of Endowment of Non
-commercial Organizations".
Instruments of Endowment Investment
Government securities of
the Russian Federation,
government securities of the
subjects of the Russian
Federation, bonds of other
Russian issuers;
Shares of Russian issuers
established in the form of
joint stock companies;
Government securities of
foreign countries which meet
the requirements
determined by debt
obligations of foreign
countries to which proceeds
of National Welfare Fund
can be placed;
Bonds and shares of other
foreign issuers;
Mortgage-backed securities
issued in accordance with
the legislation of the
Russian Federation on
mortgage securities;
Investment shares of closed
end mutual funds, if the
rules of trust management of
these mutual funds cover
payment of income from the
trust management at least
once a year;
Investment shares of
interval mutual funds;
Investment shares of open-
end mutual funds;
Immovable property;
Deposits in rubles and
foreign currency in credit
institutions.
Endowment is a constantly growing capital
The Board of Trustees
Vladimir I. YAKUNIN President of OJSC “Russian Railways” and Chairman of the Board of Trustees of the St. Andrew the First-Called Foundation and the Centre of National Glory
Georgy S. POLTAVCHENKO Governor of St. Petersburg
Dmitry A. PUMPANSKY The Management Board chairman of Pipe Metallurgy Company and “Sinara” Group
Andrey R. BOKAREV Co-owner and Chairman of the Board of CJSC
“Transmashholding” and OJSC “MC “Kuzbassrazrezugol”
Vladimir Ye. FORTOV President of the Russian Academy of Sciences
Lyudmila A. VERBITSKAYA President of St. Petersburg’s State University, member of the Russian Academy of Education
Sergey V. MIKHAILOV CEO of ITAR-TASS,
member of the Russian Journalists Association
Experts & Speakers of the Fund
Chairman of the Board of Trustees of the ISTOKI Endowment Fund, the St. Andrew the First-Called Foundation and the Center of National Glory
Strategic development of endowment funds system;
International projects;
Political assessment of international and domestic events;
Revival of Russian historical spiritual and cultural values.
Vladimir I. YAKUNIN
“We are convinced that
spiritual revival of Russia
will be the driving force,
which would entail the
revival of Russian society
and the state, and will
make every day of our
lives turned to the future"
Vladimir Yakunin
“Having three or more
children must not be
cumbersome, but
prestigious. Only an
increase of the total
fertility rate coefficient
from the current 1,573 to
2.15 help to overcome the
current demographic
trends. We have no other
choice we have. We
advocate not only for the
preservation of the
number of Russian
citizens, but primarily for
the preservation of the
traditional foundations of
our society".
Natalia Yakunina
"Endowment is an
effective charity
instrument like social
entrepreneurship. Helping
once benefactor runs
mechanism that will work
for the benefit of society
for many years, including
during the life of his
grandchildren and great-
grandchildren".
Ekaterina Gerus
Natalia V. YAKUNINA
Sergey E. SCHEBLYGIN
Ekaterina A. GERUS
Chairwoman of the Board of Trustees of the Sanc-tity of Motherhood" program, member of the Board of the ISTOKI Endowment Fund
Activities within the framework of the "Sanctity of Motherhood" Program: Initiation of bills aimed at formation of a family policy at the federal and re-gional levels
Formation of social responsibility of the media in matters of education, marriage and family
Revival of traditional family values, establishment of maternity protection centers.
Director of the ISTOKI Endowment Fund
Strategic development of the ISTOKI Endowment Fund
Interaction with the state authorities of the Russian Federation.
Executive Director of the ISTOKI Endowment Fund
Current activities of the ISTOKI Endowment Fund;
Practice of endowments functioning;
Advantages and prospects of endowment funds in Russia and abroad;
Examination for donations registration;
Effective fundraising.
Contacts of press-service
Olga BIRYUKOVA
Head of Press Department
+7 495 955-92-52, add. 2005
mob. +7 925 780 8298
e-mail: [email protected]
Dmitry SHUMANSKIY Deputy Head of Press Department
+7 495 955-92-52, доб. 2008
mob. +7 926 271 8946
e-mail: [email protected]
In 2015-2016 the Fund will focus on the replenishment of the endowment for the
development of existing programs. Work will be continued on attracting donations
and the return on their investment will be allocated to the St. Andrew the First-
Called Foundation and the Center of National Glory programs. The priority
programs, that will receive support from the ISTOKI Fund, are: "Pray for Peace of
Jerusalem", as the part of which the Holy Fire is annually brought to the Russian
Orthodox Church, the "Sanctity of Motherhood" program, "Service to the
Motherland: Events and Names", and other key programs of The St. Andrew the
First-Called Foundation and the Center of National Glory.
STRATEGIC OBJECTIVES OF THE ISTOKI FUND FOR 2015-2016
The specialized endowment fund “Fund for Support of Historical and Cultural Studies “ISTOKI”
42/5, Pokrovka str., 105062, Moscow
Tel.: +7 (495) 9559252 [email protected]
www.istoki-foundation.org
The Fund «ISTOKI in social media:
https://www.facebook.com/EndowmentIstokiFund http://vk.com/endowmentistokifund https://twitter.com/Fund_Istoki
Moscow-2016