Conference “Untouchable Capital Funds: A New Impetus for Philanthropy in Lithuania?”

On 2 October 2013, a conference “Untouchable Capital Funds: A New Impetus for Philanthropy in Lithuania?” aimed at representatives of non-governmental organisations, lawyers and individuals interested in philanthropy was held in VU Faculty of Law.

The conference was opened by VU FL Vice-Dean Haroldas Šinkūnas, the presentations were made by member of LR Seimas Remigijus Šimašius, head of Civil Liability Fund Birutė Jatautaitė and Chairman of Board of NGO Law Institute.

The conference was encouraged by the opportunity to establish untouchable capital funds (endowment) after the law on new regulation of Charity and Support Funds entered into force in Lithuania on 1 January 2013. These funds can invest the donation amounts and then distribute the income earned from the investment to the recipients of the donation. Probably the best example of the fund based on this principle is 111-year-existing fund created by Swedish inventor Alfred Nobel.

The regulation of untouchable capital funds was discussed in the conference, the attention was drawn to the possibility of establishing untouchable capital funds and thus, improving the activity in the area of philanthropy. Moreover, it was intended to identify the flaws in the law that discourage the establishment of this type of funds in Lithuania.

The conference was organised by the NGO Law Institute together with Vilnius University Faculty of Law. Also, the law student association ELSA Vilnius contributed to the organisation of the event.