ERSTE Foundation

ERSTE Foundation is an Austrian private savings-bank foundation and the core shareholder of Erste Group. Its institutional roots reach back to the Erste österreichische Spar-Casse, established in Vienna in 1819 as Austria’s first savings bank. The foundation’s present legal form emerged from the restructuring of the savings-bank organization: the former savings-bank association was separated from the operating bank in the 1990s, and the holding entity was formally transformed into DIE ERSTE österreichische Spar-Casse Privatstiftung in 2003. It began operating in its current philanthropic role in 2005. The foundation carries forward the social purpose traditionally associated with the savings-bank model. Rather than operating as a conventional commercial brand, it uses part of the dividends connected with its holding in Erste Group to support projects intended to strengthen social participation, financial inclusion, civil society and democratic culture. Its geographic focus is Central, Eastern and Southeastern Europe, a region whose political, economic and social systems have undergone major changes since 1989. ERSTE Foundation’s work spans several connected fields. In social inclusion, Zweite Sparkasse, or Second Savings Bank, was developed to help people who have difficulty accessing ordinary banking services regain a stable financial position. In civil-society development, the NGO Academy provides training and organizational support for nonprofit leaders and organizations, in cooperation with the Competence Center for Nonprofit Organizations and Social Entrepreneurship at WU Vienna. The foundation also participates in social-impact investment and philanthropic networks that seek to combine financial resources with measurable social outcomes. Democracy, media and public knowledge form another major area of activity. The Balkan Fellowship for Journalistic Excellence supports journalists from Balkan countries and seeks to strengthen investigative reporting, free expression and democratic accountability. Reporting Democracy is a related cross-border journalism platform focused on political and social developments in Europe. Since 2018, the foundation has published Tipping Point Magazine, a bilingual German-English platform presenting reporting, analysis and original material about politics, society and culture in Central, Eastern and Southeastern Europe. The foundation is also active in European debate and institutional development. Europe’s Futures—Ideas for Action, organized with the Institute for Human Sciences in Vienna and other European organizations and think tanks, addresses subjects including migration and asylum, the rule of law, democracy, enlargement and social inclusion. ERSTE Foundation cooperates with initiatives such as the European Fund for the Balkans, Civitates and the Grant Makers East Forum, and belongs to several European philanthropy and venture-philanthropy associations. Culture and historical understanding are equally important to its profile. The Kontakt collection, associated with Erste Group and ERSTE Foundation, supports and promotes Central, Eastern and Southeastern European art. The tranzit.org network connects autonomous contemporary-art initiatives in Austria, the Czech Republic, Hungary, Romania and Slovakia. The biennial Igor Zabel Award for Culture and Theory, established in 2008, recognizes influential work by art historians, critics and theorists working in or on the region. The foundation also operates a public library founded in 2007, with holdings focused on art, media, minorities, gender, migration, philanthropy, social banking, political development and cultural memory. Other initiatives address practical social needs. Alles Clara is a digital support service for people in Austria caring for relatives, connecting them with professional advisers trained in online counseling. Through these activities, ERSTE Foundation combines grantmaking, operating projects, education, journalism,…

ERSTE Foundation’s history is rooted in the Erste österreichische Spar-Casse, founded in 1819 as Austria’s first savings bank. The savings-bank concept linked financial services with a broader social purpose: encouraging saving, widening access to basic financial services and supporting economic participation. That legacy later became the foundation for the organization’s modern philanthropic orientation. A major institutional change followed an amendment to the Austrian Savings Bank Act. In 1993, the former savings-bank structure was divided between an operating bank, Erste Bank AG, and a holding entity known as DIE ERSTE österreichische Spar-Casse Anteilsverwaltungssparkasse, or AVS. Erste Bank subsequently merged with GiroCredit Bank AG der Sparkassen. In 1997, Erste Bank was listed on the Vienna Stock Exchange, while AVS remained its principal shareholder. In 2003, AVS was formally transformed into DIE ERSTE österreichische Spar-Casse Privatstiftung, commonly called ERSTE Stiftung or ERSTE Foundation. The foundation began its current operating activities two years later. Its shareholder role gives it a durable connection to Erste Group, while its foundation structure enables it to direct resources toward public-benefit objectives rather than distribute profits to private owners. Since 2005, ERSTE Foundation has developed a portfolio covering financial inclusion, civil society, democratic participation, journalism, contemporary art, historical memory, social innovation and European policy debate. Its first major project was Zweite Sparkasse, designed to help people excluded from ordinary banking regain financial stability. Later initiatives expanded the foundation’s approach from direct services to capacity building, cross-border media cooperation, cultural networks and policy-oriented discussion. The NGO Academy, launched in 2013, reflects the foundation’s emphasis on strengthening the organizations that deliver social change. Journalism programs such as the Balkan Fellowship for Journalistic Excellence and Reporting Democracy address the quality of public information and democratic oversight in the region. The foundation’s cultural work includes the Kontakt collection, the tranzit.org network and the Igor Zabel Award for Culture and Theory, established in 2008 to support cultural knowledge and exchange between Eastern and Western Europe. ERSTE Foundation also created or supported platforms for broader public discussion. Europe’s Futures—Ideas for Action brings together researchers, social and political scientists, European organizations and think tanks around questions concerning democracy, migration, enlargement, social inclusion and the rule of law. Tipping Point Magazine, published since 2018, provides bilingual reporting and analysis on developments in Central, Eastern and Southeastern Europe. Its library, founded in 2007, supports the foundation’s projects and offers public access to resources on culture, politics, philanthropy, migration, social banking and regional history. The foundation is organized as a private savings-bank foundation under Austrian law. Its bodies include an Association, a Supervisory Board and a Managing Board. The Association elects the Supervisory Board and designates its president; the Supervisory Board appoints and oversees the Managing Board; and the Managing Board conducts operations and determines project funding with support from an international advisory board. Through this structure, ERSTE Foundation combines a long-term shareholder position in Erste Group with an independent philanthropic program focused on social and democratic development in the wider European region.

• 2018

  Tipping Point Magazine launched

  [1]ERSTE Foundationen.wikipedia.org

  The foundation began publishing a bilingual platform focused on political, social and cultural developments in the region.

• 2013

  NGO Academy founded

  [1]ERSTE Foundationen.wikipedia.org

  The academy began offering training and organizational-development programs for nonprofit leaders and organizations.

• 2008

  Igor Zabel Award launched

  [1]ERSTE Foundationen.wikipedia.org

  The foundation established a biennial award recognizing important contributions to Central and Eastern European culture and theory.

• 2007

  ERSTE Foundation Library founded

  [1]ERSTE Foundationen.wikipedia.org

  The library was created to support research, projects and public access to knowledge about culture, society, philanthropy and the region.

• 2005

  Current philanthropic operations began

  [1]ERSTE Foundationen.wikipedia.org

  The foundation began operating in its modern program-focused role and launched its first major social-inclusion initiatives.

• 2003

  ERSTE Foundation established in its present form

  [1]ERSTE Foundationen.wikipedia.org

  The predecessor holding entity was transformed into DIE ERSTE österreichische Spar-Casse Privatstiftung.

• 1997

  Erste Bank listed

  [1]ERSTE Foundationen.wikipedia.org

  Erste Bank became publicly listed on the Vienna Stock Exchange, while the foundation’s predecessor remained its main shareholder.

• 1993

  Savings-bank structure reorganized

  [1]ERSTE Foundationen.wikipedia.org

  The operating bank and the savings-bank holding entity were separated following changes to Austrian savings-bank legislation.

• 1819

  Erste österreichische Spar-Casse founded

  [1]ERSTE Foundationen.wikipedia.org

  Austria’s first savings bank was established, providing the historical foundation for the later ERSTE Foundation.

A long-term, regionally focused philanthropic foundation that applies the savings-bank tradition to financial inclusion, social participation, democracy, culture and civil-society development.

• Financial inclusion

  Zweite Sparkasse

  A social-banking initiative created to support people who are unable to use ordinary banking services. Its purpose is not simply to provide an account, but to help customers regain a stable financial footing over time through access to basic banking and related support.

• Nonprofit capacity building · 2013

  NGO Academy

  An education and organizational-development platform for NGO executives and staff. Developed with WU Vienna’s nonprofit and social-entrepreneurship competence center, it provides programs intended to improve management capabilities, organizational structures and the long-term effectiveness of civil-society groups.

• European policy and public debate

  Europe’s Futures—Ideas for Action

  A cooperation with the Institute for Human Sciences in Vienna, European organizations and think tanks. It convenes experts and develops ideas around issues such as asylum and migration, democracy, the rule of law, European enlargement and social inclusion.

• Journalism support

  Balkan Fellowship for Journalistic Excellence

  A fellowship program for journalists from Balkan countries, implemented with the Balkan Investigative Reporting Network and Open Society Foundations. It seeks to improve the quality of reporting and reinforce free speech, investigative journalism and democratic accountability.

• Cross-border journalism

  Reporting Democracy

  A journalistic platform implemented by the Balkan Investigative Reporting Network. It publishes cross-border reporting and analysis examining the direction of democracy across parts of Europe.

• Art collection

  Kontakt

  The art collection of Erste Group and ERSTE Foundation, focused on supporting and promoting art from Central, Eastern and Southeastern Europe. It contributes to the preservation, presentation and international visibility of artistic practices from the region.

• Contemporary art network

  tranzit.org

  A network of autonomous contemporary-art initiatives in Austria, the Czech Republic, Hungary, Romania and Slovakia. Its activities include exhibitions, seminars, publications, long-term research and participatory interventions in public debate.

• Cultural award · 2008

  Igor Zabel Award for Culture and Theory

  A biennial award established in memory of Slovenian curator and writer Igor Zabel. It recognizes art historians, theorists and cultural practitioners whose work contributes to cultural knowledge and exchange between Eastern and Western Europe.

• Digital care support

  Alles Clara

  A digital support service for people in Austria caring for relatives. It connects caregivers with professional advisers who have training in online counseling.

• Online magazine · 2018

  Tipping Point Magazine

  A bilingual German-English publication presenting reporting, analysis and original articles about social, political and cultural developments in Central, Eastern and Southeastern Europe.

• Public knowledge resource · 2007

  ERSTE Foundation Library

  A publicly accessible library founded to support the foundation’s projects and make research resources available. Its subjects include art and media theory, minorities, gender, migration, philanthropy, social banking, education, political development and cultural memory.

1. 1ERSTE Foundationen.wikipedia.org
2. 2ERSTE Foundation official websiteerstestiftung.org