Top 20 charities in Forbes May issue

Apr 29, 2019 at 14:54 •

Forbes has ranked Russian philanthropists – the magazine used experts to survey 20 foundations set up by businessmen. “Charity means an awareness of personal responsibility for the moral climate of society, for sustained balanced growth of the environment where we happen to live and work,” writes Nikolai Uskov, the magazine’s editorial director, in presenting the new issue.

The magazine has only ranked the foundations bankrolled by people on the Forbes list of wealthiest Russians and disregarded private funding of individual projects. The final score was the sum of the foundation’s performance rating (weighted 70%) and budget (weighted 30%). This put the Timchenko Foundation in first place with a total score of 83.34.

We are grateful to the experts who contributed to the survey. Your opinion is important and valuable to the foundation’s team. We promise to do our best to stay ahead of the curve and keep improving our in-house performance evaluation system, among other things. We understand what a challenge it is to measure the social impact of a charity and there are no standard criteria.

For the Forbes ranking, the experts estimated the budget (the Timchenko Foundation’s expenses totalled 845 mln roubles in 2017) and effectiveness in terms of the following criteria: the availability of a strategy and an internal performance measuring system, operational transparency and the team’s professionalism. Our foundation sticks to the strategy in place, adapting to changing circumstances; we publish an annual social report, which lists our financials and performance figures for the sponsored projects. We are also committed to upskilling our team – the foundation’s staff constantly improve their competencies and take part in themed conferences and expert meetings.

We thank our partners and the foundation’s beneficiaries for their engagement and commitment to action: they plan, execute, measure performance, involve communities – and change life for the better. We can only deliver if we pool our efforts – this is what the ranking shows.

We congratulate our colleagues, the foundation’s staff, who have also been ranked – we are but one team, brought together by our desire to a create a level playing field, eradicate social ills and preserve cultural values.

To read about the ranking, see Top 20 charities of Russia’s wealthiest businessmen

To learn about the foundation’s history, follow the link.