№ 3/2016

Fìnansi Ukr. 2016 (3): 86–100

FINANCIAL AND ECONOMIC REGULATION

OSETSKYI Valerii ¹, TATOMYR Iryna ²

¹Taras Shevchenko National University of Kyiv
OrcID ID : https://orcid.org/0000-0001-5104-1070
²Drohobych Ivan Franko State Pedagogical University
OrcID ID : https://orcid.org/0000-0002-3274-7083

Features of using endowments and fundraising in educational practices

The article shows the mechanism of establishing endowment funds and identifies their possible sources. This article also proves the importance of using the services of a management company for efficient investments in business projects, property assets, securities, etc. in accordance with the asset management contract. Special attention is paid to governing bodies of such funds. These include: the general meeting, the executive board and the supervisory board responsible for ensuring that return on target capital is used correctly. Strengths and weaknesses of endowments are analyzed for key agents of the education process – the government, educational institutions, and sponsors. Statistics on the size of the largest endowment funds in the US are analyzed. Particular consideration is given to the role of fundraising in helping educational institutions attract financial resources that allow for implementing specific strategic programs. A new area of potential donor activities is outlined. Donors operating in this area include: community funds, corporate and associated funds, private sponsors, both individuals and their funds, global national interest funds intended to support projects that have an impact on global development, global initiative funds that provide not only financial assistance but also information and consultancy support, and intermediary funds. Ukrainian experience in establishing endowment funds and the development of philanthropy is discussed. The article presents a set of actions that will accelerate the establishment of endowment funds in Ukraine, taking into account global best practices.

Keywords:endowment fund, fundraising, corporate philanthropy, charitable foundation.

JEL: I20, I22, I25.

OSETSKYI V. . Features of using endowments and fundraising in educational practices / V. . OSETSKYI, I. Tatomyr // Фінанси України. - 2016. - № 3. - C. 86-100.

Article original in Ukrainian (pp. 86 - 100)

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