Kirill Olginsky, Communications Director of the Istoki Endowment Fund, was a guest of the Fruit of Faith program on the Orthodox TV channel Soyuz.
“The target capital format, an endowment fund, is also our Russian tradition, which was forgotten after the revolution. But we see visible traces of pre-revolutionary endowments in buildings in Moscow, for example, the Sklifosovsky Hospital and Helmholtz Hospital. Until the 1917 revolution, the activities of these institutions were financed by the income from target capitals,” said Kirill Olginsky.
Kirill also talked about what endowments have in common with a bride’s dowry, what are the similarities between endowment operations and an apartment rental, and other unexpected things.
The first series of the interview see here.
In the second series of the Fruit of Faith program on the Orthodox TV channel Soyuz, Kirill Olginsky talked about the Istoki Foundation activities and the role of endowments in the sustainable financing of NGOs.
As in the first part of the interview, the conversation touched on the history of endowments. For example, the speaker gave an interesting historical fact that thanks to the perpetual capital of the pre-revolutionary newspaper “Russian Invalid”, a media known throughout the Russian Empire was published, but pensions were also paid to disabled soldiers, six thousand orphans who lost their fathers received support, their education was paid, etc. The perpetual capital of the newspaper was an important social institution on a national scale.
The second series of the interview see here
