To stimulate the development of endowment funds in Brazil, Idis (Institute for the Development of Social Investment) and the Coalition for Philanthropic Funds will create a monitor to monitor the numbers.
Called endowments, resources are acquired through donations and invested in the financial market. In the long term, its proceeds are directed to the institutions desired by the donors.
According to Idis, the country currently has 58 heritage funds listed, which together total R$78.8 billion. Almost half of them are focused on education. The level is still considered low for Brazil’s potential.
With data obtained from questionnaires answered by fund managers and through public consultation, the monitor will be constantly updated, says Idis.
This type of fund has been used for more than two centuries in universities in countries such as the United States.
Joana Cunha with Andressa Motter and Ana Paula Branco
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