1 This policy research was conducted by: "NGO CENTER" Civil Society Development NGO Address: RA, c. Vanadzor Khorenatsi str. 6/1 Phone: +374 322 43315, +374 91743315 Web Site՝ www.ngoc.am E-mail:
[email protected],
[email protected] Research Officers: Mrs. Arpine Hakobyan Mrs. Gayane Martirosyan This document was developed as part of the Technical Assistance Support in Armenia managed by ECNL Stichting. The project is made possible by the International Center for Not-for-Profit Law (ICNL) through the Civic Space Initiative. This material is also supported under the framework of the Action “Monitoring Progress, Empowering Action”, implemented with the financial support of the European Union. This publication was produced partially with the financial support of the Government of Sweden and the European Union. The Government of Sweden does not necessarily share the opinions here within expressed. The contents of this publication are the sole responsibility of the authors and do not necessarily reflect the views of the European Union. 2 Table of Contents Introduction ............................................................. 4 Banking System In The Context Of Philanthropy .... 31 CSO Fundraising Experience .................................. 33 Fundraising Tools Of Armenian CSOs ..................... 36 Institutional Foundations Of Fundraising ...............45 Conclusions ............................................................ 47 Recommendations .................................................. 51 3 Philanthropy research in Armenia Policy Research Report Introduction Currently, the non-profit sector is the largest channel of initiating and implementing philanthropic actions in Armenia, although the sector faces different kinds of challenges, and needs government support for growth and sustainability. The government should acknowledge the key role of civil society organizations in society’s democratization process and should make further legislative changes to provide good opportunities for their engagement and growth (Minasyants 2014).