Organization of the Work of Endowment Funds in the Policy of University Education in Foreign Countries (Using the Example of the USA)
https://doi.org/10.26794/2226-7867-2026-16-1-124-133
Abstract
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.
About the Author
M. E. Rodionova
Financial University under the Government of the Russian Federation
Russian Federation
Russian Federation
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
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For citations:
Rodionova M.E. Organization of the Work of Endowment Funds in the Policy of University Education in Foreign Countries (Using the Example of the USA). Humanities and Social Sciences. Bulletin of the Financial University. 2026;16(1):124-133. (In Russ.) https://doi.org/10.26794/2226-7867-2026-16-1-124-133
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