Swiss Foundations Are Powering On
Lombard Odier has a leadership role in foundations. An interview with Patrick Odier in le Temps coincides with the publication of the annual report of SwissFoundations. Read more about the foundations landscape in Switzerland.
The creation of foundations continues to gather pace in Switzerland with 349 new ones registered last year. That’s the findings of the latest SwissFoundations report, which was released on Monday, 15 May 2017.
According to the report, Switzerland now has 13,172 charitable foundations. With an average density of 15.8 foundations per 10,000 inhabitants, Switzerland remains a leader in Europe, behind Liechtenstein (331.3) and Hungary (16.2).
This year’s edition has a special focus on French-speaking Switzerland home to 3’438 foundations with a total endowment of CHF 13.4 billion. As an example of a successful cluster-building initiative, the report cites the collaboration between the Chancellery of Geneva, SwissFoundations and Fondation Lombard Odier over the past three years, organising roundtables to exchange on issues and best practices. “Geneva holds the highest momentum and benefits from its international significance,” says Professor Georg von Schnurbein, one of the report’s authors “The Canton of Geneva has also seen a strengthening of the co-operation between the state and foundations over the past few years.”
Supported by tens of thousands of volunteers, foundations in Switzerland are deeply embedded in society. With 48 new foundations, the canton of Geneva is leading the field. While the number of new foundation start-ups has declined by one-third in the Canton of Zurich, Basel-City recorded twice as many new foundations as in 2015, and remains the leader in the number of foundations per capita, with 46 foundations per 10,000 inhabitants.
The report also shows that foundations’ primary fields of action continue to be an important supplement to the work of the public sector. Some 81.9% of Swiss foundations are active in one or more of the three major areas of culture & leisure, social services and education & research.
SwissFoundations considers that the wave of foundation dissolutions stemming from the low-financial return environment now lies behind us. Rather, the bottleneck for foundations will in the future be the identification of suitable persons for foundation boards. A total of 62,201 persons are involved in foundation boards, of which 3,868 serve on two boards, and 1,352 on more than two. What will happen when they retire, and how can we help our philanthropic clients to keep making a difference?
Click here for the annual report of SwissFoundations (in French)
Read the Le Temps interview of 16 May with Patrick Odier: « Les fondations devraient collaborer davantage ».
IMPORTANT INFORMATION – GENERAL MARKETING
This is a marketing communication issued by Bank Lombard Odier & Co Ltd or an entity of the Group (hereinafter “Lombard Odier”). It is not intended for distribution, publication, or use in any jurisdiction where such distribution, publication, or use would be unlawful, nor is it aimed at any person or entity to whom it would be unlawful to address such a document. This marketing communication is provided for information purposes only.
It does not constitute an offer or a recommendation to subscribe, to purchase, sell or hold any security or financial instrument. It contains the opinions of Lombard Odier, as at the date of issue. These opinions and the information herein contained do not take into account an individual’s specific circumstances, objectives, or needs. No representation is made that any investment or strategy is suitable or appropriate to individual circumstances or that any investment or strategy constitutes a personal recommendation to any investor. Tax treatment depends on the individual circumstances of each client and may be subject to change in the future. Lombard Odier does not provide tax advice. Therefore you must verify the above and all other information provided in the marketing communication or otherwise review it with your external tax advisors.
European Union Members: This marketing communication has been approved for issue by Lombard Odier (Europe) S.A., a credit institution authorised and regulated by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg and by each of its branches operating in the following territories: Belgium: Lombard Odier (Europe) S.A. Luxembourg · Belgium branch, a credit institution regulated in Belgium by the Banque nationale de Belgique (BNB) and the Financial Services and Markets Authority (FSMA); France: Lombard Odier (Europe) S.A. · Succursale en France, a credit institution and regulated in France by the Autorité de contrôle prudentiel et de résolution (ACPR) and by the Autorité des marchés financiers (AMF) in respect of its investment services activities; Italy: Lombard Odier (Europe) S.A. • Italian Branch, credit institution governed in Italy by the Italian stock market regulator (Commissione Nazionale per la Società e la Borsa , or CONSOB) and the Bank of Italy; Netherlands: Lombard Odier (Europe) S.A. · Netherlands Branch, a credit institution regulated in the Netherlands by De Nederlandsche Bank (DNB) and by Autoriteit Financiële Markten (AFM); Spain: Lombard Odier (Europe) S.A. · Sucursal en España, a credit institution regulated in Spain by the Banco de España and the Comisión Nacional del Mercado de Valores (CNMV); and United Kingdom: Lombard Odier (Europe) S.A. · UK Branch, a credit institution regulated in the UK by the Prudential Regulation Authority (PRA) and subject to limited regulation by the Financial Conduct Authority (“FCA”) and the Prudential Regulation Authority (“PRA”). Details of the extent of our authorisation and regulation by the PRA and regulation by the FCA are available from us on request. UK regulation for the protection of retail clients in the UK and the compensation available under the UK Financial Services Compensation Scheme does not apply in respect of any investment or services provided by an overseas person.
In addition, this marketing communication has also been approved for issue by the following entities domiciled within the European Union: Gibraltar: Lombard Odier & Cie (Gibraltar) Limited, a firm which is regulated and authorised by the Financial Services Commission, Gibraltar (FSC) to conduct banking and investment services business; Spain: Lombard Odier Gestión (España) SGIIC, S.A., an investment management Company authorised and regulated by the CNMV.
Switzerland: This marketing communication has been approved for issue by Bank Lombard Odier & Co Ltd, a bank and securities dealer authorised and regulated by the Swiss Financial Market Supervisory Authority (FINMA).
United States: Neither this document nor any copy thereof may be sent, taken into, or distributed in the United States of America, any of its territories or possessions or areas subject to its jurisdiction, or to or for the benefit of a United States Person. For this purpose, the term “United States Person” shall mean any citizen, national or resident of the United States of America, partnership organized or existing in any state, territory or possession of the United States of America, a corporation organized under the laws of the United States or of any state, territory or possession thereof, or any estate or trust that is subject to United States Federal income tax regardless of the source of its income.
This marketing communication may not be reproduced (in whole or in part), transmitted, modified, or used for any public or commercial purpose without the prior written permission of Lombard Odier. © 2016 Bank Lombard Odier & Co Ltd – all rights reserved