Vladimir Potanin replenished the endowments of his Foundation by 10 billion rubles

The Vladimir Potanin Foundation created two endowments; each of them equals 5.1 billion rubles. Both endowments were created within the Foundation; the endowments’ income will be directed to the development and support of the charitable programs.

Vladimir Potanin announced his decision to establish endowment in October 2021. The endowment will reach 100 billion rubles by 2032. In March 2022, Vladimir Potanin made the first donation to the Foundation’s endowment of 10 billion rubles. In accordance with the legislation, the funds were put on deposits before transferring to management companies. As of May 11, 2022, the Foundation endowment amounts to 10 242 467 885 rubles.

Larisa Zelkova, Chair of the Board, states, “The Vladimir Potanin Foundation has been promoting the endowment model in Russia for 15 years. Thanks to the decision of Vladimir Potanin, we can demonstrate by our own example how important endowment is for the mission of a non-profit organization. Leading management companies made their proposals to the Foundation. The Foundation Board chose two companies: TKB Investment Partners and RB Capital. Reliability and successful asset management experience were the key parameters for selection”.

Oksana Oracheva, the General Director of the Foundation, remarks, “Sustainability is now more important than ever for the success of a charitable organization. All endowment income will be directed to the charitable programs implemented by the Foundation. The decision of our founder to create endowment establishes a new foothold for organizations in culture, higher education and the social sphere”.

Since the adoption of the law regulating endowments, the Foundation has been systematically working to promote them. From 2012 to 2021, as a result of the Foundation’s educational programs implemented in partnership with New Economic School and Moscow School of Management SKOLKOVO, 21 endowments were formed and 99 participants received diplomas on successful completion of these programs. The contributions to the participants of the Foundation's programs for these years amounted to 159,000,000 rubles.

As part of the anti-crisis competition "New Dimension" with the support of the Foundation, 14 endowments were created and 5 were replenished. The Foundation's contributions to endowments exceeded 106 million rubles.

More detailed information on the Foundation’s endowments is available here (in Russian).