Endowment Fund is Registered at Perm University
The non-profit organization "Perm University Endowment Fund" has been officially registered at Perm State University.
"Because of the reduction of state financing, many universities need extra money. It is necessary to create favourable conditions to study and work at the University. Basing on experience, creation of the Endowment Fund is the most effective financial mechanism in the long term" - Igor Makarikhin, Perm State University rector, stated.
The Fund is formed by voluntary contributions of graduates, students, teachers and friends of the University. The amount of money collected, which must not be less than 3 million rubles, will be entrusted to Management Company for an annual profit. It may be used to implement target programmes. Among the priority directions there are support of students and professors, financing of perspective researches, improvement of material resources and development of social infrastructure.
Currently the appointment of the Board of Trustees composed of public persons, professors, and main contributors is under discussion.
The administration of the University believes that the University is able to support a lot of graduates, professors and its friends. Everyone can contribute to the development of the first classical university in the Ural Region.
An endowment fund is a fund, which creates assets that are invested for the long term and are intended to provide a permanent source of financial support for the organization. The largest foreign fund is well-known Nobel Foundation. According to the legislation of Russian Federation, the registered target capital has to make not less than 3 000 000 rubles before the transmission to the Managing Company.