News

Best according to Forbes

Feb 25, 2020 at 13:04 •

For a second year in a row, the Timchenko Foundation has been ranked No. 1 among the charitable foundations of the richest Russians by the Forbes magazine. The runner-up is still the Charitable Foundation of Vladimir Potanin; in third place is the Our Future foundation of Vagit Alekperov, which has moved five spots up since last year. At the bottom of the top five are the Volnoye Delo [The Cause of Freedom] Foundation for the Support of Social Innovations and the Basis foundation of Oleg Deripaska.

The ranking used two criteria: an expert evaluation of the foundation’s performance and budget. The foundations are ranked by the total score built on the two indicators.

The expert scoring (weight 70%) used four criteria: strategic (clear-cut strategy, systems approach, adherence to the chosen model and a system for measuring performance, including social effect); management performance (appraisal of teamwork and quality of foundation management, the focus is on supervision, e.g., by boards of trustees); transparency (availability and accessibility of full information about the foundation’s activities (financials and reports), annual reporting, as well as the foundation’s engagement with the non-profit community); grants (additional points were awarded to the foundations that not only fund their own programmes but also bankroll non-profits and private applicants). The budget assessments factored into the 2018 expense figures (weight 30%).