ERSTE Foundation
ERSTE Foundation (in German DIE ERSTE österreichische Spar-Casse Privatstiftung or in short: ERSTE Stiftung) is the biggest Austrian savings bank foundation. In 2003, it evolved from the Erste Oesterreichische Spar-Casse, the first Austrian savings bank founded in 1819. It is the main shareholder of Erste Group. As a private austrian savings banks foundation, the foundation is committed to serve the common good. ERSTE Foundation invests parts of its dividends to support the development of societies in Central and South Eastern Europe. Mission. ERSTE Foundation is active in Central and South Eastern Europe. Its mission goes back  to the savings banks idea of the 19th century. It supports social participation and civil society engagement; it aims to bring people together and disseminate knowledge of the recent history of a region that has been undergoing dramatic changes since 1989. Thematic fields. Financial health for all ERSTE Foundation provides young and older people with opportunities to increase their financial literacy and develop tools to enable those who are in a difficult financial situation to regain their ability to act and thus reclaim their personal freedom. Empower those who care. ERSTE Foundation supports those who are committed to changing the  society for the better. It invests in the development of new digital approaches, in capacity building and organisational development of NGOs and in the expansion of networks between sustainable social enterprises. It aims to empower people who actively address social challenges. Protect contemporary culture. Culture strengthens the complex identities in Eastern Europe’s societies. ERSTE Foundation explores important artistic practices in the recent Eastern European past. It promotes engagement with critical societal developments by artists and cultural producers and mediates their works to civil society actors and a wider public. Preserve a democratic Europe. ERSTE Foundation creates knowledge for mature , active citizens of Europe by bringing together European thinkers and political decisionmakers, promoting critical journalism in the public interest and helping shape the debate about a resilient, democratic, united Europe. Igor Zabel Award for Culture and Theory. ERSTE Foundation established the biennial Igor Zabel Award for Culture and Theory in 2008. It supports the work of art historians and theorists in CEE and highlights the notion of arts and culture, encouraging the production of cultural knowledge and exchange between ‘East’ and ‘West’. The award is named after the Slovenian author, art critic and curator Igor Zabel (1958–2005), the senior curator  of Ljubljana's Moderna Galerija. He established cultural links between Eastern and Western Europe. "Winners:" magazine.erstestiftung.org. Since 2018 ERSTE Foundation publishes carefully researched stories and reports from renowned media in the region (e.g. Dennik N, Political Critique, Gazeta Wyborcza) as well as original articles in its bilingual online magazine (German/English). The magazine follows developments significant to society, politics and culture in Central, Eastern and South Eastern Europe. It supplies images and concepts on topical issues, encourages discussion and contributes to current debates. History. The origins of the foundation go back to the 19th century. The Erste österreichische Spar-Casse  was founded in 1819. As a result of the amendment to the Austrian Savings Bank Act, Erste österreichische Spar-Casse was split into an operational bank (Erste Bank AG) and a holding company (DIE ERSTE österreichische Spar-Casse Anteilsverwaltungssparkasse, in short: AVS) in 1993. In 1997 Erste Bank, which had merged with GiroCredit Bank AG der Sparkassen, went public, making AVS the main shareholder of the company, which has been listed on the Vienna Stock Exchange ever since. In 2003 AVS was formally transformed into DIE ERSTE österreichische Spar-Casse Privatstiftung, in short: ERSTE Stiftung (ERSTE Foundation), which began its  operations two years later. Organisation. ERSTE Foundation is a savings bank private foundation as defined by the Austrian Savings Bank Act. Boards. The bodies of the foundation include the Managing Board, the Supervisory Board and the Association. The private Savings Bank Association, established in 1819 and comprising more than 100 members, elects the members of the Supervisory Board and designates its president. The Supervisory Board appoints the members of the Managing Board and supervises the foundation’s management. The Managing Board conducts the foundation’s business and decides on the allocation of project funding, assisted by an Advisory Board of  international experts. Employees, budget and projects. At ERSTE Foundation work around 20 employees in 2022. More than 2,000 projects have been implemented or supported since 2005. ERSTE Foundation’s total project expenditure 2005–2021: more than EUR 121 mio. Memberships in umbrella organisations. The foundation is a member of the following national and international umbrella organizations: ERSTE Foundation Library. Founded in 2007, the ERSTE Foundation Library advances knowledge by building collections and providing open access to materials and information resources that support and reflect both ERSTE Foundation’s mission and the diversity of its projects. It contains around 12.000 items. Topics  include art and media theory and history, minority and gender issues, cultural theory and policies, economic and political developments, social banking, innovation in foundations, philanthropy, demography, migration, education, and the art of memory. Geographically, the collection focuses on Central and South Eastern Europe. The Library is open to the public and free of charge.