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Foundations' assets shrank in 2011

THE TOTAL assets of Slovak foundations registered in Slovakia shrank over 2011 while the amount of donations and grants provided decreased, too. The Centre for Philanthropy published a report about the condition of foundations based on data from the register of foundations administered by the Interior Ministry and annual reports of the foundations for 2011.

THE TOTAL assets of Slovak foundations registered in Slovakia shrank over 2011 while the amount of donations and grants provided decreased, too. The Centre for Philanthropy published a report about the condition of foundations based on data from the register of foundations administered by the Interior Ministry and annual reports of the foundations for 2011.

The total assets of foundations registered in Slovakia amounted to €79.3 million in 2011, down from €101.8 million in 2010. Milica Danková from the Centre for Philanthropy attributed the drop to the decrease in assets of the Intenda Foundation from €20.6 million to €1.96 million, an €18.64 million decrease. The Intenda foundation administers real estate of the former Youth Socialistic Association (SZM).

Based on available data the foundations provided donations and grants worth €21.4 million, which is a €11.4 million drop compared with 2010.

According to Danková, this difference was caused by decreased redistribution of grants by eight large foundations in 2011 compared with 2010, when, for example grants provided by the Nadácia Pázmány Péter Alapítvány foundation decreased by €3.9 million and the MEDICAL – NADÁCIA foundation provided grants amounting to €2 million less than in 2010.

The revenue of the foundations originated from the income tax assignation mechanism from corporations as well as individuals, private companies, individual donators, grants from foreign donators – foundations or subsidies from public funds, especially the Slovak Government Office, or revenue gained from their activities.

The ranking of foundations is led by the Nadácia Habitat for Humanity International foundation with grants provided totalling €4.48 million, followed by the Nadácia SPP foundation, which provided grants worth €2.25 million, and the Nadácia Orange foundation with grants provided equalling €1.11 million. The Pontis Foundation was fourth, having provided grants amounting to €1.03 million.

The SPP foundation topped the ranking of revenue from income and corporate tax assignation totalling €2.62 million. The Orange foundation was second with €1.03 million followed by the Pontis Foundation with €1.02 million.

Funds obtained via income tax assignation are being drawn in 15-month cycles. This means that some foundations provided grants in 2011 from revenue from 2010 and that, similarly, revenue from 2011 can be redistributed even in 2012.

At the end of 2011 there were a total of 918 foundations registered in Slovakia, of which 427 were active and 491 were in liquidation.

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