NUST MISIS Endowment Fund Shows the Best Dynamic of Development Among Russian Universities

In 2015, NUST MISIS’s endowment fund showed the highest rate of growth among the endowments of Russian universities. The university nearly doubled its endowment, from 68 million rubles to 128.3 million rubles. This was announced at the IV International Forum of Universities held by RAEX Ranking Agency, where the university was awarded with the diploma for “Efficient Communications with Alumni”.

At the end of 2015, the total capital of the endowment fund for NUST MISIS amounted to 128.3 million rubles. Owing to large donations from ROSATOM, TMK, Severstal, Panasonic Russia, and the fundraising campaign “Every Ruble is Crucial”, the capital of NUST MISIS’s Endowment Fund was increased by 46.7 million rubles. Moreover, NUST MISIS alumni and the founders of Alfa Group Consortium Mikhail Fridman, German Khan, and Alexey Kuzmichev contributed to the development of the Endowment Fund.

The fund`s income from asset management amounted to 22 million rubles, and all the funds were placed in two managing companies: IC “Eurofinansy”, and “Gazprombank: Asset Management”.

“The NUST MISIS endowment fund is formed through the university`s alumni, partners`, and friends` contributions. Earnings from allocated funds allow the university to develop and implement scholarship and grant programs aimed at supporting student initiatives. For example, financing the students’ scientific forum ‘Science Days’, the ‘Student, Lecturer, and Employee of the Year’ contests, support for student startups and many other programs”, said Alevtina Chernikova, Rector of NUST MISIS.

Currently, 5 scholarship programs operate at NUST MISIS, including programs established by TMK and Giredmet. Additionally, the university offers personal student prizes named after S.S. Gorelik, V.S. Strizhko, and V.A. Arutyunov. In 2015, scholarships worth a total of 879,000 rubles were given to 16 students from the university.

In 2015, the fund provided NUST MISIS projects with 6.7 million rubles. With these funds, traditional annual events like “Miss MISIS” and “Miss College of Mining” were held. The Fund also initiated the holding of contests such as “Student of the Year” and “Lecturer of the Year” with winning prizes up to 150,000 rubles.

In September 2015, the major international conference on educational technologies in Russia was held with the support of NUST MISIS’s endowment fund.

The fund plans to allocate about 18 million rubles for the realization of the NUST MISIS development program, including the reconstruction of the “Miner” student residence hall complex, the implementation of research grants jointly provided with ROSATOM, bonus payment to “Science Days” winners, and financial support to the Science Slam MISIS.

“I am pleased and sad at the same time. It’s a pleasure that the work of your team is appreciated, and it’s also sad as nobody has surpassed us. It means that the practice of filling endowment funds and working with alumni is still underdeveloped in Russia”, said Nurlan Kiyassov, director of the NUST MISIS endowment fund.