Rio Endowment proposes to raise funds, through donations, and place them in an investment fund
Started operating on this Wednesday (5.Apr.2023) the Rio Endowment, an endowment fund created to invest in public universities in Rio de Janeiro. The project proposes to raise money, through donations, and place them in an investment fund, the proceeds of which must be passed on to Rio de Janeiro’s educational institutions.
Donors can donate any amount through Pix. The idea is for the resources to be invested in fixed income, an investment modality considered safer. The money will be passed on to university students through edicts.
According to Thomas Ramirez, president of the Rio Endowment, public notices should be opened from April of next year, as the fund needs time to generate income. He estimates that the initial value of public notices should vary from R$ 20,000 to R$ 40,000.
“Today we have an investment committee. We rely heavily on fixed income. Other endowment initiatives already invest in fixed income, with previously declared CDI. We maintain the same line so as not to take very high risks to guarantee the trust and the perpetuity of the fund”said to Power360.
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UniRio (Federal University of the State of Rio de Janeiro), UFF (Fluminense Federal University), IFRJ (Federal Institute of Rio de Janeiro), UERJ (Rio de Janeiro State University) and UFRRJ (Federal University of Rural Rio de Janeiro ) should benefit from the project.
Luca Castellano, one of the founders of the Rio Endowment, said that anyone can donate: “Not only those who have R$ 1 million, R$ 2 million. It could be R$15, R$10. We will have a much larger amount in a fund. Let’s say R$ 10 million to make the calculation easier. This money yielding 10% net per year will generate R$ 1 million for you to invest in a library per year. You make money eternal and manage to raise the quality of the educational infrastructure”.
The fund is non-profit. All professionals involved in the Rio Endowment are volunteers, but part of the funds donated can be used to pay operating costs.
In addition to donations, the Rio Endowment also provides for other forms of fundraising, such as subscription services, in which the donor undertakes to donate a specific amount monthly through the credit card bill, and promotion of events and classes with professionals of the market, whose income values will be directed to the fund.
“Our thesis is to be creative about it. In addition to opening the page for people to donate, we will bring people from the market that we know, people of reference, to give a class on a specific topic. We will charge R$ 25 for people to participate in this class. Any amount raised will be part of this fund.says Luca.
According to the founders, there will be a quarterly rendering of accounts of all donated resources. In the document sent to the donors, there must be information about the money invested, how much it is yielding and which projects and universities it was destined for, for example.
At this early stage, donors cannot choose which university or project the donated money should go to. “The person will make a donation to the Rio Endowment. The idea is that in the near future, we can give the donor the power of choice. But today we allocate the resource according to the way we think it fits”completes Luca.
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Donations can be made by Pix ([email protected]) or by form;
Here’s Instagram: @rioendowment.
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