Endowment fund - is:
An essential element of a modern financial infrastructure leading university
An additional way of financing a dynamic and balanced development of TSU
Long-term relationships with graduates of Alma Mater
Driving Activities Endowment Fund is that philanthropists - university graduates and friends - donate money to different purposes of the university development, forming a target capital that is invested in stocks, bonds, mutual funds, currency, real estate and other tools, in order to ensures its constant growth. The financing programs of the university is due to income from the investment, and the capital of the fund is intact.
The mechanism of endowment funds has proven to be effective because it provides long-term universities stable source of funding of educational, scientific and other programs.
The idea of creating an endowment fund in the Russian universities was stated by Russian businessmen at a meeting with V. Putin in 2006. He was responsible for the adoption of the relevant law DA Medvedev during his work Deputy Prime Minister. The President continues to pay great attention to this issue.
Internationally accepted principles of investing endowments are the following:
investment strategy is chosen based on the orientation to preservation of capital endowment, ie It can not be too risky;
to reduce the risks of target capital is invested in a diversified range of assets;
endowment fund - not just a source of additional revenue in the budget, and the funding mechanism for the long-term innovative development of the university.
World practice Endowment has more than 500-year history. The first analogue of modern endowments appeared in 1502 in the UK, when Lady Margaret Byufort, grandmother of King Henry VIII, made the donation to create departments of theology at the universities of Oxford and Cambridge. In the US, a pioneer in the creation of endowment became Harvard University, where in 1649 four graduate alma mater bequeathed some land. Today, this area is the university library Uaydner.
Four US universities have the largest endowments (Harvard -25,000,000,000 dollars., Yale - $ 15 billion., Stanford - $ 12 billion. And Princeton - $ 12 billion.) Have been pioneers in establishing close ties with alumni and fundraising organizations. The vision, manifested in the generous and consistent investment in these areas at an early stage, it gave universities a huge advantage in attracting annual revenues and creating a positive reputation among the world's universities. Development of the practice of cooperation with the graduates starting from college and continuing throughout their life is priceless.
Informing students about the current priorities of university development and the importance of income received and income from the endowment to reduce the cost of training and support to relevant university programs is of great importance. Graduates interested in maintaining relationships and communicating with each other, which is implemented in the framework of alumni associations.
Alumni and friends are interested in news about the activities of the university, on the implementation of its development programs. Employers are interested in the services of the career center in the selection of young professionals and in cooperation with the career services Alumni Association in finding employees with experience; in collaboration with the Center for Continuing Education for designing new training programs for their employees. Companies and foundations interested in the activities of the department and of the scientific work of the research projects, the expansion of channels of interaction with employers, including co-operation in areas of graduates, short-term and long-term internships of students of all forms of learning and teaching staff.
The experience at Princeton University, where annual donations to the endowment fund are making 55-60% (!) Graduates. This fund is in the lead in the world in relation to the size of the endowment to the number of students - the figure is more than $ 2 million.
Endowment and do not lack political support, the attention of the first persons of the country, including the President, the largest business. As is known, the government not only actively involved in the development of the legal framework of the law number 275-FZ "On the Funds financial endowment" from 2006 and oversees the development of appropriate infrastructure. Thus, the formation of the largest Russian endowment funds put forces VO Potanin, VF Vekselberg, AB Usmanov, PK Shodiev, MD Prokhorov, other prominent figures of business, science and culture.
On the other hand, the mechanism of direct participation in the management of the target capital on the part of the largest benefactors protects the interests of business and the interests of the territory in the management of the university. Bunch endowment with effective Board of Trustees allows for different, fundamentally different from the budget, the logic of the allocation of resources in the education system. This logic is not aimed at leveling the socio-economic conditions of the territory, and on their differentiation, the development of the territories leaders.
And local authorities, and local business elites become apparent beneficiaries of this approach, which predetermines their active participation in the formation and filling of university endowments.
More information http://fond.tsu.ru/
