EIGHT large corporate foundations and funds have grouped within the Association of Corporate Foundations and Funds (ASFIN) with the goal of enabling member networking and to advocate the interests of the corporate foundations community. Martina Nehézová from ASFIN told the SITA newswire in mid July that the foundations decided to launch the association during the time when revenues from the so-called 2 percent assignation scheme of taxes paid by corporate entities have been falling.

“We joined because we want to cooperate on cultivating the community of corporate foundations and jointly contribute to the further support of corporate philanthropy in Slovakia,” said Andrea Cocherová, from the Orange Foundation and the chairwoman of ASFIN, as cited by SITA.

In 2011 all corporate foundations divided among grants more than €12 million, i.e. 85 percent of their revenues. The 2-percent assignation scheme remains the main source of money raised by corporate foundations in Slovakia.

According to Nehézová, they see the need for more public supervision and transparency.

“We not only publish on the ASFIN website relevant data about the grant-related activities of our members, but the launch of the association is also another step for responding to these requirements,” Nehézová said.

ASFIN’s activities are sheltered by the Centre for Philanthropy with the Pontis Foundation.