How to create endowment funds

An event dedicated to discussion of endowment funds activities and the involvement of graduates in the development of educational institutions was held today in Almaty. The meeting was initiated by the Foundation for Sustainable Development of Education.

The founders and senior officials of the leading schools and HEIs of the country, as well as charitable companies are gathered in the hall: NIS, Shoqan, Hightech Academy, KazNU, New generation school, Haileybury, Mirasс, IQanat and BINOM, Sustainable Rural Development Fund, “Dara” Foundation, Bulat Utemuratov Foundation, etc. Nurlan Kiyassov, Programming Director of the EdCrunch conference, was acting as a key speaker.

The event was started off by Serik Tolukpayev, Head of AITAS Holding, initiator of successful social projects in a rural area. Serik Tolukpayev has called on Kazakhstani colleagues to unite in terms of institutional development of education and the formation of fundraising culture.

I was struck by this funding model when I have visited leading universities in the United States. This model has proven its success over a century of its formation and development within the West. In turn, our programs and projects for the development of rural education are also aimed at ensuring sustainability in the development of the whole country through the development of rural areas. And we are ready to support this initiative at the stage of formation of legislative, personnel and resource support” - said the initiator of a meeting, Serik Tolukpayev.

Nurlan Kiyassov has shared successful cases of fundraising technology, endowment fund activities, and the involvement of graduates in the development of educational institutions. He has told about his own experience in forming up of systematic work to fill the endowment fund as an extra-budgetary source of funding, by way of the example of leading universities and schools in the United States, Great Britain, and Russia.

“The fundraising and endowment funds are the key to sustainable and long-term financing of any development programs and projects. The Kazakh nation has always been distinguished by its culture and tradition of philanthropy, hospitality, and charity. We have a huge untapped potential in the creation of the industry of philanthropy and endowment funds. I am very happy that the Foundation for Sustainable Development of Education and Serik Tolukpaev himself act as a driving and unifying force in development of this new industry for modern Kazakhstan” - shared Nurlan.

The participants have also discussed the perspective of establishing an association of endowment funds in Kazakhstan and holding an international conference.