Corporate Foundations in Russia: Overview of the Sector
Corporate social responsibility (CSR) is not as new a phenomenon for Russia as it is considered to be. Despite the prevalence of CSR among Russian corporations and considerable budgets, the number of corporate foundations is limited to a few tens. This chapter develops explanations for a narrow prevalence of corporate foundations as a tool of CSR. The chapter is based on the available statistical information, corporate social reports and interviews with representatives of the corporate foundations. Three aspects are examined. The first is a statistical portrait of the subsector of corporate foundations: its size, funding models, payouts, projects being funded, etc. The second point is an institutional context: the current legislation on foundations and CSR, and the tax regulations. The third aspect to be covered is a hybrid role of corporate foundations, their operation in the social policy and the non-profit sector. The chapter concludes with a discussion on comparative advantages and weaknesses of corporate foundations in an emerging Russian market.