The first endowment fund in the Belgorod region was created at the BSTU named after V.G.Shukhov

On Wendsday a  specialized endowment fund (endowment fund) was created at the Belgorod State Technological University (BSTU) named after V. Shukhov, the university’s first vice rector Evgeny Yevtushenko said at a press conference organized by Interfax.

 

“On the initiative of graduates and university staff, we created the first endowment fund in the region (from the English endowment -“ supply, contribution ”- a trust fund created for non-commercial purposes - IF), the purpose of which is not only financing research projects, encouraging talented students and graduates, but also the strengthening of ties between the university and those who studied at it, works or simply wants to leave its mark on its history, ”Yevtushenko said.

 

The target capital of the fund is filled through charitable donations. According to the legislation, the minimum amount of capital is 3 million rubles and can be replenished during the whole time the fund operates.

“Currently, in just a month, we have collected over 1.5 million rubles from more than 260 donors. These are BSTU graduates, teachers and even students. Their names can be seen on the official website of the fund, ”said Yury Buryak, director of the endowment fund.

He added that the basis of the endowment was made up of the funds of the outstanding foundation of an outstanding modern scientist, doctor of technical sciences, professor Yuri Pivinsky, who worked for several years as head of the department of chemical technology, ceramics and refractories at BSTU. V.G. Shukhov (currently Y. Pivinsky lives and works in St. Petersburg). For almost 10 years, students of BSTU named after V. Shukhov, having achieved particular success in scientific activity, received nominal prizes from the funds of this fund.

“Together with the funds of the Yuri Pivinsky Foundation, which we send to the target capital with his consent, we practically gain a starting amount of 3 million rubles, with which we can already start working,” Buryak emphasized.

The next step in the work of the endowment fund will be the selection of a specialized management company that will be able to invest endowment funds in financial instruments that allow you to get a stable income. Funds can be managed by companies holding a license to conduct securities management activities or a license to carry out activities to manage investment funds, mutual funds and non-state pension funds.

“It is the interest income received from the placement of the target capital that can be spent on the goals indicated in the charter of the fund. Endowment capital remains intact. And any donor who has contributed money to the target capital can leave the fund at any time, taking his donation if, for example, he doesn’t agree with what these percentages are spent on, ”Tatyana Davydenko, Vice-Rector for Scientific and Innovative Activities of the BSTU, emphasized. .

A person who has contributed over 1 million rubles will automatically join the fund’s board of trustees and will be able to influence the distribution of funds.

“All expenses up to the last ruble, all changes in the target capital can be seen on the official website of the fund,” the director of the endowment fund assured.

Any natural and legal person can make a feasible contribution to the formation of endowment capital. The minimum contribution is not set.

“You can make even one penny if you want. The only restriction is that the donation must be made in rubles and from the territory of the Russian Federation, ”said Buryak.

The founders of the fund hope in early 2020 to decide on the choice of a management company so that it can begin its work.

“The advantage of the endowment over charitable foundations is that it is created for a minimum of 10 years, but we expect, of course, for a longer period,” said the first vice-rector of BSTU.

Currently, there are about 200 endowments in universities and cultural institutions in Russia. They accumulated about 24 billion rubles.

 

Belgorod State Technological University named after V.G. Shukhov is one of 33 flagship universities of the Russian Federation. The university includes 42 departments and 9 institutes.

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