Endowment for cultural innovations

Summerday: special endowment
foundation in the field of culture
The cultural initiative support foundation — Summerday — deals with national identity issues and its manifestation in culture against the background of total globalization and new civilizational challenges.
Vladimir Martynov
Composer, writer, philosophe

There are cultural fields that will not bring quick financial return. The return might occur in a longer term. The profession of a composer implies solitary, private work, not visible to the public. Such occupation becomes especially challenging in our era of collective capitalism, which implies that the whole production process must be based on close communication with people. This communicativeness is what literally deprives composers from working in the privacy of their own minds. Meanwhile, unexpected results are most likely to occur during such solitary work, and it is actually at that point financial investments are needed. In my view, the foundation purpose is to foresee potential benefits to be gained from those inconspicuous stages of a composer's work.
What is an endowment foundation?
What is an endowment foundation?
  • This is a special foundation that carries out its activities using the income from the management of endowment received from the so-called "angel investors." Such a foundation is used for non-commercial purposes to finance educational, healthcare, scientific and cultural organizations.
  • An endowment can invest its funds in order to derive revenues, but it is obliged to direct all the income earned in favor of the organizations and projects it was created to support.
  • The difference between an endowment and a conventional charitable organization is the strictly targeted nature of the activities (as a rule, an endowment is created to support a certain organization, for example, a certain university), as well as the fact that, unlike sponsors, angel investors are able to get their investments back in full, exclusive of the income that goes for the foundation needs.
Tatiana Grindenko
Violinist, Merited Artist, artistic director of Opus Posth ensemble

I wish to work with skillful musicians, to make worthy projects and good music, which certainly requires money. I wish to give concerts in small towns, which lack money even to get to the place of performance.
How does it work?
How does it work?
  • Monetary funds, real estate and securities can be contributed to the foundation.
  • A licensed management company registered on the market (hereinafter referred to as the Management Company) carries out management in order to make profit.
  • The income from investment activities is allocated to objectives and projects in accordance with the appropriation of the endowment as determined by the foundation expert group.
Ippolit Harlamov
Poet, translator of modern Greek poetry

Have been working on translation of Solomos 17 hours per day for two years I was urged to buy the toilet paper on credit
Who may be interested in endowment:
Who may be interested in endowment:
  • Those who have available funds for investing and who may wish to withdraw their funds in full at the end of the investment period
  • Those who optimize taxes, since investments in the endowment provide tax deductions to individuals and municipal budgets
  • Those who care about the corporate social policy
  • Those who have reached the desired amount of capital and are looking for ideas of its qualitative transformation and influence beyond their business achievements
  • Those focused on investing in eternal values and in our country's artistic heritage
  • Those who pay much significance to seeing their names among the co-customers' names and the names of opera houses and philharmonic halls, who would like artistic works, festivals or musical spaces to be identified with their names and activities
  • Those who find it crucial to be involved in the development of breakthrough cultural projects
  • Those who are interested in influencing artistic tastes and bringing Russian composers to the world level
Vladimir Jurowski
Artistic Director of the Svetlanov State Academic Symphony Orchestra, Principal Conductor of the London Philharmonic Orchestra

Another Space Festival needs additional funds to promote new music by Russian composers and bring them to the world stage. In addition, we, the team of the State Orchestra of Russia, are engaged in promoting new domestic music probably more than any other team in Russia. But we need additional funds for this, as well... We need financial support at least to maintain the position of a composer-in-residence that we have established. Composers should be able to live for their art, and not to beg and eke out their existence. Since the collapse of the Soviet Union, there has been no organization in Russia to support composers...
What are the means to control the invested funds?
What are the means to control the invested funds?
  • The foundation performs its activities only using its profit.
  • Profit is extracted only by the Management Company.
  • Any contributor has the right to introduce their observer to the financial council under to the law and the charter of the foundation.
  • The foundation makes reports to the Ministry of Justice on a quarterly basis.
Ekaterina Holm
Summerday Foundation Director

Moscow needs a space to offer conceptually new musical context.
Why do endowments in the field of art work abroad and do not work in Russia?
Why do endowments in the field of art work abroad and do not work in Russia?
  • All innovative and outstanding projects in the Western world are supported by private banking and financial structures through endowments established specifically for this purpose. Such foundations support theatrical and musical communities, festivals, and publishing houses, which allows cultural figures to meet community demands and to respond to new civilizational challenges.
  • Russia lacks such experience in the field of art. The public consumes products of the music industry which was developed by commodity culture and uses the same principles as 200 years ago. There are no established institutions that respond to the demands of the present day, such as publishing houses, festivals, and music agencies. The history of private money in contemporary Russia is very short. The patronage of the late 19th century, which is often cited as an example (Mamontov, Shchukin, Morozov), has a fundamentally different nature than that existing in our time. Then it was (and supposed to be) almsgiving, while nowadays it implies lending money in every sense of the word; it is social responsibility and actually a full-fledged reputation policy. Endowment allows for solving of patronage issues with real influence on the arts while keeping up with the time.
Alexey Retinsky
Composer of symphonic, chamber instrumental and electroacoustic music

Music composing is a long process of concentrated and scrupulous cultivation of new musical sprouts. Hidden from the eyes of the outer world, this work is accompanied by significant intellectual, mental and physical efforts. These efforts can be compensated by the end result, namely, the magic of birth of new music that has not existed before.

This process is so absorbing for an artist that it practically leaves no extra resources for solving various pressing issues. That is why the support a foundation provides can be metaphorically described as a fence that protects young sprouts from being trampled by the boots of mundanity.

State of things in Russia
State of things in Russia
  • In terms of its structure, culture financing in Russia has always been focused on state support; therefore, the state has always been the party which orders new works.
  • We do not have festivals, publishing houses, and agencies that would generate new orders for artists and composers.
  • To date, state support is targeted at academic forms of art. And actual orders to Russian composers, for example, come from Donemus Publishing (the Netherlands) or from producers of foreign festivals and film studios.
  • Endowment funds are transparent and, therefore, more difficult to deal with than sponsor money.
Anna Chaykovskaya

I need a grant from the foundation for proper arrangement and conducting of a tour in support of the cross-cultural Ukrainian-Japanese project "Blue Lake."
What makes endowment so special?
What makes endowment so special?
  • An investor provides funds for projects verified by the expert community.
  • Participation in the foundation becomes a deed of social responsibility for contributors.
  • Individuals — endows of the foundation — get tax deductions (only individuals and government entities so far).
  • An investor does not risk losing the principal amount of their contributions and can withdraw from the foundation by taking back the full amount of the contributed funds in accordance with the procedure established by the contract.
Andriy Zholdak
Director, theater philosopher
I wish to gather actors from different countries who have contributed much to my large-scale and important roles, and who know my method of work. I would like to make an international performance with them… That would be great! I would like to arrange a sort of expedition with them, a performance as an expedition...
How does the Summerday Foundation work?
How does the Summerday Foundation work?
  • The foundation makes expert reviews of selected projects and orders through the Board of Trustees, which consists of outstanding representatives of the Russian World.
  • The foundation initiates its own orders and implements its own projects.
  • The foundation can participate in other festival orders that coincide with the foundation's target programs.
  • It monitors the cultural space.
  • It exercises full control over the implementation of turnkey projects, as it is obliged to publish reports and audits to the Ministry of Justice under the charter.
Georgy Mansurov
Soloist of the musicAeterna orchestra, director, musician

Of course, I would create my own band, a musical and theatrical band. A laboratory, in some sense...
Practical Purposes of the Foundation
Practical Purposes of the Foundation
  • Creating a financial structure to initiate orders and projects
  • Acting as a co-author and a co-customer of new musical and cultural phenomena
  • Obtaining copyrights
  • Attracting third-party individuals and legal entities to provide the foundation with endowments
  • Implementation of educational activities
  • Creation of its own art agency for implementation of the foundation's projects
Andrei Semyonov

It is wrong to use the phrase "modern opera" to describe something incomprehensible, inexpressive, and uninteresting. There is no good in an opera that does not bring joy and empathy, does not require reflection, does not cause tears and laughter. There is no good in a tendency when a modern opera is staged just for one festival performance and then disappears from the cultural space forever.
I have been making audio recordings of my three different operas for several years using my own resources. With a symphony orchestra, a choir, and soloists involved. And I have no doubt that these operas are exactly what a contemporary listener needs.

Endowment programs of the foundation
Endowment programs of the foundation
  • Opera
    Aims at staging operas written by contemporary composers
  • Music Grant
    For musicians participating in productions and orders of the foundation
  • Records
    Sound recordings of musical works initiated by the foundation or a festival
  • Orders for Composers
    Includes the foundation acting as a co-customer of works along with theaters, festival organizations and symphony orchestras
  • Movement
    Pro-active participation of the foundation in the popularization of works created by performers, authors, and artists
  • Festival
    Creation of a space for the foundation's own activities
The foundation's Board of Trustees
  • Vladimir Martynov
    Philosopher, composer, writer
  • Vladimir Jurowski
  • Arkady Ippolitov
    Art expert, writer, curator
Ekaterina Holm
+7 (985) 233-72-20
Activities that preceded the creation of the foundation