Importance The innovative vector of development of the Russian economy determines the need to increase the requirements for the quality of higher education, the level of educational services that meet international standards, active research activities, development activities, the integration of high schools in the nation and global scientific community. This causes an increase in budget spending and investment in higher education, the widespread introduction of new learning technologies with the use of modern information and communication techniques and tools. Along with this, it is necessary to seek for additional extra-budgetary funding sources that should be considered as a strategic objective of each institution of higher education. Objectives The purpose of the study is to examine the prospects of implementing the practice of establishing endowment funds of universities to improve their competitiveness. Methods As the study methodology, I used a content analysis of text matter: program documents on the strategic development of universities, books, journal articles, periodicals, and the Internet data on the designated topic. Results The article describes the international experience of higher education institutions in fundraising and seeking extrabudgetary sources of income. I have studied the use of foreign charitable foundations to finance the educational process and research work in universities, and I highlight the perspectives of experience of Western European countries in the field of public-private partnerships in education in today's economy of Russia. Conclusions and Relevance The endowment funds ensure the long-term stability of University research programs, improving the level of teaching staff, attracting the best students and the establishment of optimal material and technical conditions of the educational process.
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