Specialized Endowment Fund “Fund to support historical and cultural research “ISTOKI” was registered on March 5th, 2013 according to the Federal Law #275-FZ dated December 30, 2006 “About the order of formation and use of endowment of non-commercial organizations”.
Mission of the Fund
The mission of Endowment Fund “ISTOKI” is to strengthen spiritual grounds of the Russian society, moral education based on Orthodoxy and on worthy examples of the Russian history and the Russian culture.
Return on investment of Endowment Fund “ISTOKI” is used for development of the current programmes of the Foundation of St. Andrew the First-Called which help draw the attention of the public to the issues of spiritual and moral revival of Russia, respect for the Russian history and culture.
Contribution to the endowment shows the complete trust of a benefactor
Areas of the special-purpose funding
- Support to historical and cultural programmes
- Upbringing of the younger generation based on respect for society, its traditions and the history of the Russian statehood, patriotism and civil responsibility
- Financial support for educational institutions, funding of educational projects, foundation of schools and educational centres
- Stipends and grants
- Funding for research projects and projects of worthy cause
The endowment is formed by donations and is transferred to the trust management. The endowment is accumulated while the return of management is used for implementation of charity programmes. It secures the continuous financing which does not depend on the amount of donations received during the current year.
Advantages of the endowment
- Continuous long-term financing of the programmes. Contributions to the endowment secure continuous long-term development of the Fund’s programmes and the long-term partnership which does not depend on financial possibilities of benefactors in the future.
- Targeted use of finances. Return on investment of the contributions is used for supporting programmes of “ISTOKI” Fund in compliance with desires of the benefactor indicated in the donation agreement.
- The Board of the Fund and the independent Board of Trustees are the supervisory bodies. Big benefactors of the Fund can become members of the Board of Trustees. The Fund will form a statement report on the use of finances on the yearly basis and will place the information of its activity on the Fund’s website.
- Different forms of the contribution. To replenish the endowment of the Fund benefactors can donate money, immovable assets and securities.
- Tax advantages for a benefactor. For personal income tax there is a social tax deduction in amount of the donated sum contributed to the Endowment Fund (within 25% of the taxed income).
- Individual approach. The Management of the Fund takes into consideration desires of every single benefactor regarding the form and kind of contribution.