Armenian Foundations, Grant Makers and Philanthropists get together to promote an effective and responsible philanthropic environment

Although Armenia has its own unique sources of philanthropic giving (the Armenian Diaspora and Diaspora-based foundations), philanthropy and grant making here are inevitably affected by global trends and face a number of challenges: How to continue philanthropic and civic initiatives when international assistance to Armenia expires? How to engage businesses in strategic, transparent, value-oriented grant-making? How to coordinate efforts and engage Diaspora-based foundations and individuals in the development of an effective and responsible philanthropic environment in Armenia?

Taking into consideration these challenges, in 2008 Eurasia Partnership Foundation launched an informal initiative to gather Armenian Grant Makers and Philanthropists. Representatives of the Izmirlian and Jinishian Memorial Foundations, Fund for Armenian Relief of America and the Open Society Institute Assistance Foundation took up the call, becoming core participants of the group. In June 2008, EPF invited Natalya Kaminarskaya from the Russian Donors Forum to make a presentation and share her experience managing the Forum, including challenges they have faced, their achievements, and recommendations for the nascent Armenian group.

After a series of initial meetings and consultations, the group has affirmed is mission to be to represent, grow and inspire an effective and responsible philanthropic environment in Armenia.

“Together we can achieve a lot by raising public awareness about philanthropy and advocating for policies, upgrading grant making standards and practice, improving the legal framework and overall philanthropic environment in Armenia”.- says Eliza Minasyan, Executive Director of the Jinishian Memorial Foundation in Armenia.

The forum’s first initiative will be to support the development of endowments in Armenia. As part of its Corporate Social Investment (CSI) program, EPF recently awarded a contract to Grant Thornton inc. to develop a draft endowment law for Armenia. Grant Thornton will: study domestic legislation and assess philanthropic needs; study foreign experience related to endowments; draft an endowment law and recommendations on amendments/changes to other domestic legislation (such as the tax code) as needed; and present the results to clients, counterparts and stakeholders.

Gurgen Hakobyan, Grant Thornton partner says, “Being a founder of a youth NGO, I personally appreciate the idea of an endowment law very much and do realize importance of such an initiative. Development of philanthropy implicitly depends on interest and involvement from the private sector. It will be almost impossible to pass the law and have real changes if only the non-profit sector stays engaged”.

Members of the Armenian Grant Makers and Philanthropists forum have agreed to lobby for the endowment law proposition in Armenia. An endowment law, if passed, will allow foundations, corporations, Diaspora groups, and other philanthropists to better support their causes. It will also encourage businesses to adopt long time corporate social investment strategies and to assist to development of community foundations in Armenia. Armenian Grant Makers and Philanthropists see their role in fostering such initiatives by promoting culture of philanthropy and supporting each other. This initiative will be a first step toward addressing the challenges faced by philanthropists in Armenia and around the world.

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