HSE Endowment Exceeds 500 Million Roubles
The HSE Endowment was created in 2007 and includes donations from individuals and companies. As of today, it comes to over 550 million roubles. It is only surpassed by the endowments of four other leading Russian universities – St. Petersburg State University (1.036 billion roubles), MGIMO (1.5 billion roubles), European University in St. Petersburg(1.64 billion roubles), and SkolTech (4.387 billion roubles).
Until 2014, the HSE Endowment fund only had one endowment – the ‘Endowment for HSE’s Development’, which was used to support such projects as the April Conference and two sports infrastructure projects: developing the sports ground at the Voronovo Student Centre and designing the HSE Sports and Recreation Centre.
It is common for Russian and Western universities to create several endowments as part of a single endowment fund. For example, the Harvard Endowment Fund consists of over 13,000 endowments (e.g., for student scholarships, professorships, research in certain fields, developing libraries, etc.).
Recently, four more endowments have been created as part of the HSE Endowment Fund: for research in finance, academic mobility, and comparative social research. The most recent one is the ‘Outstanding Alumni Endowment’, whereby funds are raised publicly via an online form on the fund’s website.
The Board of the Outstanding Alumni Endowment, which includes graduates who have made donations, has established the following objectives for funds drawn from the endowment:
- supporting talented students from low-income families and remote regions of the Russian Federation;
- awarding students for their research and academic achievements;
- supporting outstanding alumni who have pursued academic careers;
- supporting programmes and projects, which have a direct influence on HSE’s international reputation and brand image as a leading global university;
- supporting projects and events aimed at advancing the endowment’s philosophy and the Club of Donators among HSE students and graduates.
Furthermore, HSE has already received over 47 million roubles from the HSE Endowment Fund for various projects and programmes.
An Endowment for the Development of the International College of Economics and Finance (ICEF) has been created within the HSE Endowment Fund to provide financial support for the ICEF’s long-term projects. Thanks to the endowment, the ICEF will also be able to direct more funds to research and expand the range of opportunities for the professional and personal growth of its students.
The Centre will include a swimming pool, a climbing wall, a gym, as well as dedicated space for basketball, tennis, badminton and other sports. The plan is to build the three-storey venue of almost 12,000 sq.m in under two years.
Following a long history of cooperation between HSE and VTB24 bank, a programme has been launched to fund financial research through a university endowment. This entails the establishment of a VTB Chair position as the logical outcome of this programme.
The funding will be allocated on a competitive basis. The first round of applications has already started and will run until October 15, 2016.