Gaidar Forum-2019: Irina Tolmacheva moderated expert discussion on new prospects of endowment development of non-profit organizations
On January 17, an expert discussion “New prospects of non-profit organizations endowment development” moderated by Irina Tolmacheva, Head of Legal Department of the Gaidar Institute, Head of Research Projects and Intellectual Property Division of the Extra-Budgetary Activity Management, RANEPA, took place under Gaidar Forum–2019.
Major part of discussion related to Federal law draft project “On amendments to certain legislative acts of the Russian Federation in connection with improvement of tools of generation and use of endowment by non-profit organizations” (draft law hereunder) suggesting improvement of legal conditions for generation and use of endowment by non-profit organizations (NPO), harmonization of legal standards and elimination of legal collisions that seem to be required for further development and higher expansion of long term tools of support.
Aleksey Anisin, Director, MPGU Specialized Foundation of Endowment, and Alla Samoletova, Assistant to Rector of the European University in St. Petersburg, talked about specific legislative amendments related to endowment. In particular, drat law suggest such measures as expansion of incidence of this Law aimed at support of the socially oriented non-profit organizations activity; authorization to withdraw funds with the purpose to cover administrative/management expenses in relation to generation and replenishment of endowment irrelevant of withdrawal of income resulted from endowment or income from trust management by beneficiary based on fulfilment of other conditions of the Law; extension of the period established by Law for collection of means aimed at generation of endowment; opportunity to announce public fund-raising for generation of endowment in each sphere (under condition of fulfillment of legislative requirements vs possible return of donation); review of periodicity conditions and amount of unused income resulted from trust management of property constituting endowment.
Ekaterina Gantseva, Deputy Chair, National Association of Stock Market Participants, also talked about plans to reduce limitations envisaged for management companies in relation to property operations constituting endowment. These amendments include expenditures norms related to trust management of property constituting endowment and remuneration to managing company; limitations with regard to required expenditures related to trust management; opportunity for management company to combine endowment possessed under trust management with the purpose of investment; it was suggested to recognize endowment funds as eligible investors by act of law.
Oksana Oracheva, General Director, Vladimir Potanin Charity Foundation, tackled new trends in the area of charity. Thus, according to Oksana Oracheva, tendencies in fund-raising have changed: earlier, major corporations and big business provided main donations while currently this is a private mass fund-raising.
Elena Ivanitskaya, Deputy Director, Department of Strategic Development and Innovation, Ministry of Economic Development of the Russian Federation, stated that this is an important draft law, it has a wide public support and expect agreement at the Ministry of Economic Development of the Russian Federation.
