In a recent speech promoting Russia’s new Law on Endowments, Russian First Deputy Prime Minister Dmitri Medvedev praised the first seven institutions to register endowments in Russia. The seven include three MacArthur grantees – the European University at St. Petersburg, the New Economic School, and the Moscow State Institute of International Relations. While the Law on Endowments does not give tax breaks to donors, it does make contributions and interest earned on endowments tax-free for the recipient and should facilitate a surge of endowment-building in the nonprofit sector, including among educational and research institutions.
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