humanitiesГуманитарные науки. Вестник Финансового университетаHumanities and Social Sciences. Bulletin of the Financial University2226-78672619-1482Financial University under The Government of Russian Federation10.26794/2226-7867-2026-16-1-124-133humanities-1304Research ArticleАКТУАЛЬНЫЕ СОЦИАЛЬНО-ПОЛИТИЧЕСКИЕ ИССЛЕДОВАНИЯCURRENT SOCIO-POLITICAL RESEARCHОрганизация работы эндаумент-фондов в политике университетского образования зарубежных стран (на примере США)Organization of the Work of Endowment Funds in the Policy of University Education in Foreign Countries (Using the Example of the USA)https://orcid.org/0000-0001-8663-313XРодионоваМ. Е.RodionovaM. E.

Родионова Марина Евгеньевна — кандидат социологических наук, доцент, доцент кафедры политологии, факультет социальных наук и массовых коммуникаций, Финансовый университет при Правительстве РФ; исполнительный директор, Фонд целевого капитала Финансового университета.

Москва

Marina E. Rodionova — Cand. Sci. (Social), Assoc. Prof., Assoc. Prof. of the Department of Political Science, Faculty of Social Sciences and Mass Communications, Financial University under the Government of the Russian Federation; Executive Director, Endowment Fund of the Financial University.

Moscow

merodionova@fa.ruФинансовый университет при Правительстве Российской ФедерацииРоссияFinancial University under the Government of the Russian FederationRussian Federation202618022026161124133Copyright © Родионова М.Е., 20262026Родионова М.Е.Rodionova M.E.Данная работа распространяется под лицензией Creative Commons Attribution 4.0.This work is licensed under a Creative Commons Attribution 4.0 License.https://humanities.fa.ru/jour/article/view/1304

Статья посвящена комплексному анализу роли эндаумент-фондов (целевых капиталов) в системе высшего образования США как ключевого механизма обеспечения финансовой автономии и стратегического развития университетов. В работе исследуются: нормативно-правовая база функционирования эндаументов (законы UMIFA 1972 г. и UPMIFA 2006 г.); принципы управления и распределения доходов (межпоколенческое равновесие, фидуциарные стандарты); инвестиционные стратегии ведущих университетов (Гарвард, Йель, Стэнфорд, Принстон); вызовы, связанные с политизацией академической среды и государственным вмешательством; международные параллели (Япония, Саудовская Аравия, Китай). На основе эмпирических данных (отчеты NACUBO, финансовые показатели университетов, правовые документы) автор демонстрирует, что эндаументы выступают не только финансовым инструментом, но и маркером академической легитимности, индикатором институциональной зрелости. Сделан вывод о необходимости правовой защиты эндаументов от инструментализации в политических целях, а также о глобальном тренде к адаптации американской модели целевого капитала в других странах.

The article provides a comprehensive analysis of endowment funds (targeted capital) in the US higher education system as a key mechanism for ensuring financial autonomy and strategic development of universities. The study examines: the legal and regulatory framework governing endowments (UMIFA 1972 and UPMIFA 2006); management and revenue distribution principles (intergenerational equity, fiduciary standards); investment strategies of leading universities (Harvard, Yale, Stanford, Princeton); challenges related to the politicization of the academic environment and government intervention; international parallels (Japan, Saudi Arabia, China). Drawing on empirical data (NACUBO reports, university financial indicators, legal documents), the author shows that endowments serve not only as a financial instrument but also as a marker of academic legitimacy and institutional maturity. The study concludes that legal protection of endowments from political instrumentalization is essential, and highlights a global trend toward adapting the US endowment model in other countries.

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The authors declare that there are no conflicts of interest present.