The Fund is unique in Bulgaria, providing funding for the individual development of people working in the NGO sector.
The discussion about the professional development of the staff in the NGO sector, as well as the solidarity support within its framework, was initiated among several organizations (National Network for Children, Bulgarian Donors Forum, Open Society Institute, Bulgarian Family Planning Association and the Workshop for Civic Initiatives Foundation). All the participants are aware of the need to create a mechanism to support the human resources of the sector and are united in launching a fund to address these very needs in order to preserve the potential accumulated by senior staff (support in case of health problems, creative leave, one-off support (provided as a reward for overall contribution) upon retirement, etc.).
The Fund is unique in Bulgaria, providing funding for the individual development of people working in the NGO sector, including staff, trustees and volunteers in the form of small individual grants.
The Fund
A large permanent fund that will generate sufficient income (dividends) to support the individual professional development of people in the NGO sector. This will allow the fund to be managed in perpetuity and independently as a progressive and innovative vehicle.
The fund aims to raise 200,000 BGN over a period of 2 years, which will be set aside in a permanent fund.
Fundraising channels and activities
The Fund will rely on new donations from individuals, corporate donations as well as those from institutional donors.
The Fund intends to reach these donors through a variety of activities, including:
- Fundraising at public venues/events;
- Solicitations for donations;
- Donations from organizations;
- Other.
The Fund will invest the funds and add the investment earnings to the permanent fund. We aim for at least 20 more NGOs to make donations. All proceeds from organizations and private donors will be invested to generate income.
The fund will also raise funds from individuals depending on their will and ability, with an initial target of 100-150 individual donors. We expect some of the donors to be regular and make donations on a monthly basis.
Funding allocation decisions
The Fund will allocate funding annually to support people in the sector, based on an open process. Decisions will be made by a public board established for this purpose. It will consist of up to 10 members and will operate under specific rules and conditions to ensure transparency, accountability and independence.
Name of the Fund
The fund will be called the Tanya Kovacheva Fund and with it we want to preserve the memory of Tanya Kovacheva, Programme Director of the OAK Foundation and a person who gave her strength to the cause of Bulgarian children, working for more than 20 years in the civil sector in Bulgaria.