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Potanin, established an endowment at the Hermitage

June 19 2010

The head of the board of trustees of the State Hermitage Vladimir Potanin re-elected for another term. The decision was taken today during a regular meeting of the council.  

Another significant event was the signing of the head of holding "Interros" and director of the Hermitage Mikhail Piotrovsky agreement to establish an endowment - a trust fund, proceeds of which will be used for noncommercial purposes.

Replenishment of these funds is due to charitable donations. Endowment funds can also be used for profit, but in this case, all income received fund shall be given to organizations for the support which it was founded. From the usual charity endowments differ in that their activity has a specific target character.

Endowment at the Hermitage - the first such fund in Russia, created to support the museum. Today, as it became known that the contribution Potanin in the endowment will be five million dollars.

We recall that Vladimir Potanin, has established a nonprofit charitable foundation in 1999. Until 2010, the fund annually to support talented students $ 10 million. Since then, the size of donations increased to 25 million.

Potanin was personally involved in drafting the law on foundations of trust capital. In addition, he established an endowment MGIMO, which gave five million dollars.

In the near future, the entrepreneur intends to engage in the creation of funds with a target capital. This will be the beginning of the path to transfer the state of his fortune to charity.

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