{"id":1407,"date":"2026-10-15T11:06:16","date_gmt":"2026-10-15T11:06:16","guid":{"rendered":"https:\/\/www.rotharia.com\/uncategorized\/how-swiss-foundations-put-chf-1596-billion-to-work\/"},"modified":"2026-10-15T11:06:16","modified_gmt":"2026-10-15T11:06:16","slug":"how-swiss-foundations-put-chf-1596-billion-to-work","status":"publish","type":"post","link":"https:\/\/www.rotharia.com\/fr\/wealth-management\/philanthropy-impact\/how-swiss-foundations-put-chf-1596-billion-to-work\/","title":{"rendered":"Comment les fondations suisses font fructifier 159,6 milliards de francs suisses"},"content":{"rendered":"<figure class=\"wp-block-image size-large\">\n<img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"800\" src=\"https:\/\/www.rotharia.com\/wp-content\/uploads\/2026\/10\/rotharia_image_20261015_090b09.png\" alt=\"\" class=\"wp-image-1406\" srcset=\"https:\/\/www.rotharia.com\/wp-content\/uploads\/2026\/10\/rotharia_image_20261015_090b09.png 1200w, https:\/\/www.rotharia.com\/wp-content\/uploads\/2026\/10\/rotharia_image_20261015_090b09-300x200.png 300w, https:\/\/www.rotharia.com\/wp-content\/uploads\/2026\/10\/rotharia_image_20261015_090b09-1024x683.png 1024w, https:\/\/www.rotharia.com\/wp-content\/uploads\/2026\/10\/rotharia_image_20261015_090b09-768x512.png 768w, https:\/\/www.rotharia.com\/wp-content\/uploads\/2026\/10\/rotharia_image_20261015_090b09-18x12.png 18w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/>\n\n<\/figure>\n\n\n<style>body.single-post .cm-featured-image { display: none !important; }<\/style>\n\n<p><span><span>With <\/span><span>Swiss <\/span><span>int\u00e9r\u00eat <\/span><span>taux <\/span><span>\u00e0 <\/span><span>zero, <\/span><span>fondements <\/span><span>doit <\/span><span>decide <\/span><span>comment <\/span><span>beaucoup <\/span><span>esp\u00e8ces <\/span><span>\u00e0 <\/span><span>keep, <\/span><span>comment <\/span><span>\u00e0 <\/span><span>invest <\/span><span>leur <\/span><span>remaining <\/span><span>actifs <\/span><span>et <\/span><span>comment <\/span><span>beaucoup <\/span><span>ils <\/span><span>peut <\/span><span>afford <\/span><span>\u00e0 <\/span><span>spend <\/span><span>sur <\/span><span>charitable <\/span><span>work.<\/span><\/span><\/p><p><span>Switzerland&#8217;s <\/span><span>13\u2019782 <\/span><span>charitable <\/span><span>fondements <\/span><span>hold <\/span><span>a <\/span><span>combined <\/span><span>CHF <\/span><span>159.6 <\/span><span>billion <\/span><span>dans <\/span><span>assets, <\/span><span>selon <\/span><span>\u00e0 <\/span><span>le <\/span><span>Swiss <\/span><span>Foundation <\/span><span>Report <\/span><span>2026. <\/span><span>Le <\/span><span>money <\/span><span>supports <\/span><span>medical <\/span><span>research, <\/span><span>education, <\/span><span>cultural <\/span><span>institutions <\/span><span>et <\/span><span>social <\/span><span>programmes, <\/span><span>often <\/span><span>through <\/span><span>commitments <\/span><span>that <\/span><span>extend <\/span><span>plus de <\/span><span>several <\/span><span>years. <\/span><span>How <\/span><span>fondements <\/span><span>manage <\/span><span>leur <\/span><span>money <\/span><span>determines <\/span><span>not <\/span><span>seulement <\/span><span>quoi <\/span><span>ils <\/span><span>peut <\/span><span>distribute <\/span><span>today, <\/span><span>mais <\/span><span>whether <\/span><span>ils <\/span><span>peut <\/span><span>continuer <\/span><span>funding <\/span><span>these <\/span><span>activities <\/span><span>dans <\/span><span>le <\/span><span>future.<\/span><\/p><p><span>Le <\/span><span>financier <\/span><span>challenge <\/span><span>has <\/span><span>become <\/span><span>plus grand <\/span><span>as <\/span><span>int\u00e9r\u00eat <\/span><span>taux <\/span><span>have <\/span><span>fallen as t<\/span><span>he <\/span><span>Swiss <\/span><span>National <\/span><span>Banque <\/span><span>conserv\u00e9 <\/span><span>son <\/span><span>politique <\/span><span>taux <\/span><span>\u00e0 <\/span><span>0% <\/span><span>dans <\/span><span>septembre <\/span><span>2026, <\/span><span>en partant <\/span><span>little <\/span><span>opportunity <\/span><span>\u00e0 <\/span><span>earn <\/span><span>int\u00e9r\u00eat <\/span><span>sur <\/span><span>ordinary <\/span><span>Swiss-franc <\/span><span>deposits. <\/span><span>Foundations <\/span><span>still <\/span><span>besoin <\/span><span>ready <\/span><span>acc\u00e8s <\/span><span>\u00e0 <\/span><span>money <\/span><span>pour <\/span><span>grants <\/span><span>et <\/span><span>operating <\/span><span>expenses, <\/span><span>mais <\/span><span>keeping <\/span><span>plus <\/span><span>esp\u00e8ces <\/span><span>que <\/span><span>necessary <\/span><span>peut <\/span><span>reduce <\/span><span>leur <\/span><span>investissement <\/span><span>income.<\/span><\/p><p><span>Professional <\/span><span>fondements <\/span><span>have <\/span><span>generally <\/span><span>responded <\/span><span>by <\/span><span>investing <\/span><span>most <\/span><span>de <\/span><span>leur <\/span><span>assets. <\/span><span>According <\/span><span>\u00e0 <\/span><span>le <\/span><span>SwissFoundations <\/span><span>Benchmark <\/span><span>Report <\/span><span>2026, <\/span><span>participating <\/span><span>fondements <\/span><span>held <\/span><span>un <\/span><span>average <\/span><span>de <\/span><span>just <\/span><span>5% <\/span><span>dans <\/span><span>cash, <\/span><span>avec <\/span><span>le <\/span><span>remainder <\/span><span>invested <\/span><span>primarily <\/span><span>dans <\/span><span>equities, <\/span><span>obligations <\/span><span>et <\/span><span>property. <\/span><span>Leur <\/span><span>portfolios <\/span><span>returned <\/span><span>un <\/span><span>average <\/span><span>de <\/span><span>7.2% <\/span><span>dans <\/span><span>2025.<\/span><\/p><p><span>Le <\/span><span>findings <\/span><span>show <\/span><span>comment <\/span><span>established <\/span><span>fondements <\/span><span>manage <\/span><span>leur <\/span><span>money, <\/span><span>although <\/span><span>le <\/span><span>survey <\/span><span>covers <\/span><span>seulement <\/span><span>55 <\/span><span>organisations. <\/span><span>It <\/span><span>cannot <\/span><span>establish <\/span><span>comment <\/span><span>beaucoup <\/span><span>esp\u00e8ces <\/span><span>le <\/span><span>entire <\/span><span>Swiss <\/span><span>charitable <\/span><span>sector <\/span><span>holds <\/span><span>ou <\/span><span>whether <\/span><span>plus petit <\/span><span>fondements <\/span><span>receive <\/span><span>competitive <\/span><span>secteur bancaire <\/span><span>terms.<\/span><\/p><h2><span>Switzerland&#8217;s <\/span><span>CHF <\/span><span>159.6 <\/span><span>Billion <\/span><span>Foundation <\/span><span>Sector<\/span><\/h2><p><span>Le <\/span><span>Swiss <\/span><span>Foundation <\/span><span>Report <\/span><span>2026, <\/span><span>published <\/span><span>by <\/span><span>le <\/span><span>Center <\/span><span>pour <\/span><span>Philanthropy <\/span><span>Studies <\/span><span>\u00e0 <\/span><span>le <\/span><span>University <\/span><span>de <\/span><span>Basel, <\/span><span>SwissFoundations <\/span><span>et <\/span><span>le <\/span><span>University <\/span><span>de <\/span><span>Zurich, <\/span><span>puts <\/span><span>le <\/span><span>sector&#8217;s <\/span><span>actifs <\/span><span>\u00e0 <\/span><span>CHF <\/span><span>159.6 <\/span><span>billion. <\/span><span>Foundations <\/span><span>supervised <\/span><span>by <\/span><span>federal <\/span><span>authorities <\/span><span>account <\/span><span>pour <\/span><span>CHF <\/span><span>85.7 <\/span><span>billion, <\/span><span>alors que <\/span><span>ceux-l\u00e0 <\/span><span>under <\/span><span>cantonal <\/span><span>supervision <\/span><span>hold <\/span><span>CHF <\/span><span>73.9 <\/span><span>billion.<\/span><\/p><p><span>These <\/span><span>organisations <\/span><span>have <\/span><span>very <\/span><span>different <\/span><span>financier <\/span><span>needs. <\/span><span>Some <\/span><span>manage <\/span><span>large <\/span><span>endowments <\/span><span>et <\/span><span>employ <\/span><span>professional <\/span><span>investissement <\/span><span>managers. <\/span><span>Others <\/span><span>operate <\/span><span>avec <\/span><span>limited <\/span><span>staff, <\/span><span>depend <\/span><span>sur <\/span><span>donations <\/span><span>et <\/span><span>rely <\/span><span>sur <\/span><span>volunteer <\/span><span>trustees <\/span><span>\u00e0 <\/span><span>make <\/span><span>financier <\/span><span>decisions.<\/span><\/p><p><span>A <\/span><span>foundation <\/span><span>established <\/span><span>\u00e0 <\/span><span>fund <\/span><span>scientific <\/span><span>research <\/span><span>indefinitely <\/span><span>doit <\/span><span>manage <\/span><span>son <\/span><span>money <\/span><span>differently <\/span><span>de <\/span><span>un <\/span><span>organisation <\/span><span>financing <\/span><span>a <\/span><span>five-year <\/span><span>programme. <\/span><span>Le <\/span><span>d'abord <\/span><span>needs <\/span><span>\u00e0 <\/span><span>preserve <\/span><span>enough <\/span><span>capital <\/span><span>\u00e0 <\/span><span>assistance <\/span><span>avenir <\/span><span>grants, <\/span><span>alors que <\/span><span>le <\/span><span>deuxi\u00e8me <\/span><span>peut-\u00eatre <\/span><span>deliberately <\/span><span>spend <\/span><span>son <\/span><span>actifs <\/span><span>as <\/span><span>projects <\/span><span>sont <\/span><span>completed.<\/span><\/p><p><span>These <\/span><span>differences <\/span><span>affect <\/span><span>comment <\/span><span>beaucoup <\/span><span>money <\/span><span>fondements <\/span><span>devrait <\/span><span>keep <\/span><span>dans <\/span><span>cash.&nbsp;Operating <\/span><span>expenses, <\/span><span>approved <\/span><span>grants <\/span><span>et <\/span><span>payments <\/span><span>due <\/span><span>within <\/span><span>le <\/span><span>coming <\/span><span>months <\/span><span>require <\/span><span>readily <\/span><span>available <\/span><span>funds. <\/span><span>Money <\/span><span>committed <\/span><span>\u00e0 <\/span><span>projects <\/span><span>plus de <\/span><span>le <\/span><span>next <\/span><span>few <\/span><span>years <\/span><span>peut-\u00eatre <\/span><span>\u00eatre <\/span><span>invested <\/span><span>plus <\/span><span>cautiously, <\/span><span>avec <\/span><span>investissements <\/span><span>maturing <\/span><span>quand <\/span><span>payments <\/span><span>sont <\/span><span>due. <\/span><span>Funds <\/span><span>that <\/span><span>va <\/span><span>not <\/span><span>\u00eatre <\/span><span>needed <\/span><span>pour <\/span><span>a <\/span><span>long <\/span><span>time <\/span><span>peut <\/span><span>generally <\/span><span>\u00eatre <\/span><span>invested <\/span><span>\u00e0 travers <\/span><span>a <\/span><span>wider <\/span><span>range <\/span><span>de <\/span><span>assets, <\/span><span>provided <\/span><span>le <\/span><span>foundation <\/span><span>peut <\/span><span>withstand <\/span><span>losses <\/span><span>sans <\/span><span>cancelling <\/span><span>son <\/span><span>commitments.<\/span><\/p><p><span>Foundations <\/span><span>\u00e9galement <\/span><span>besoin <\/span><span>\u00e0 <\/span><span>decide <\/span><span>whether <\/span><span>leur <\/span><span>esp\u00e8ces <\/span><span>r\u00e9serves <\/span><span>have <\/span><span>become <\/span><span>unnecessarily <\/span><span>large. <\/span><span>A <\/span><span>foundation <\/span><span>avec <\/span><span>CHF <\/span><span>10 <\/span><span>million <\/span><span>dans <\/span><span>son <\/span><span>accounts <\/span><span>et <\/span><span>annual <\/span><span>spending <\/span><span>commitments <\/span><span>de <\/span><span>CHF <\/span><span>1 <\/span><span>million <\/span><span>has <\/span><span>different <\/span><span>needs <\/span><span>de <\/span><span>one <\/span><span>preparing <\/span><span>\u00e0 <\/span><span>distribute <\/span><span>le <\/span><span>idem <\/span><span>amount <\/span><span>plus de <\/span><span>twelve <\/span><span>months.<\/span><\/p><p><span>Keeping <\/span><span>sufficient <\/span><span>money <\/span><span>available <\/span><span>est <\/span><span>part <\/span><span>de <\/span><span>responsible <\/span><span>management. <\/span><span>D\u00e9tention <\/span><span>substantially <\/span><span>plus <\/span><span>que <\/span><span>planned <\/span><span>expenditure <\/span><span>requires <\/span><span>a <\/span><span>clair <\/span><span>reason, <\/span><span>particularly <\/span><span>quand <\/span><span>deposits <\/span><span>earn <\/span><span>little <\/span><span>income.<\/span><\/p><h2><span>What <\/span><span>Swiss <\/span><span>Foundations <\/span><span>Earn <\/span><span>From <\/span><span>Leur <\/span><span>Investments<\/span><\/h2><p><span>Le <\/span><span>SwissFoundations <\/span><span>Benchmark <\/span><span>Report <\/span><span>2026 <\/span><span>montre <\/span><span>comment <\/span><span>professionally <\/span><span>managed <\/span><span>charitable <\/span><span>investissements <\/span><span>performed.&nbsp;The <\/span><span>study <\/span><span>examined <\/span><span>55 <\/span><span>fondements <\/span><span>holding <\/span><span>CHF <\/span><span>15.1 <\/span><span>billion <\/span><span>dans <\/span><span>combined <\/span><span>assets. <\/span><span>They <\/span><span>earned <\/span><span>un <\/span><span>average <\/span><span>investissement <\/span><span>retour <\/span><span>de <\/span><span>7.2% <\/span><span>dans <\/span><span>2025, <\/span><span>compared <\/span><span>avec <\/span><span>8.1% <\/span><span>dans <\/span><span>2024. <\/span><span>Leur <\/span><span>cumulative <\/span><span>average <\/span><span>retour <\/span><span>since <\/span><span>2021 <\/span><span>reached <\/span><span>23.9%.&nbsp;The <\/span><span>average <\/span><span>participating <\/span><span>foundation <\/span><span>invested <\/span><span>49% <\/span><span>de <\/span><span>son <\/span><span>actifs <\/span><span>dans <\/span><span>equities, <\/span><span>20% <\/span><span>dans <\/span><span>obligations <\/span><span>et <\/span><span>16% <\/span><span>dans <\/span><span>property. <\/span><span>Esp\u00e8ces <\/span><span>accounted <\/span><span>pour <\/span><span>5%, <\/span><span>avec <\/span><span>le <\/span><span>remainder <\/span><span>held <\/span><span>dans <\/span><span>other <\/span><span>investments.<\/span><\/p><p><span>Le <\/span><span>chiffres <\/span><span>show <\/span><span>that <\/span><span>fondements <\/span><span>dans <\/span><span>le <\/span><span>survey <\/span><span>invested <\/span><span>most <\/span><span>de <\/span><span>leur <\/span><span>money <\/span><span>dans <\/span><span>financier <\/span><span>markets <\/span><span>alors que <\/span><span>keeping <\/span><span>a <\/span><span>relatively <\/span><span>small <\/span><span>share <\/span><span>dans <\/span><span>cash. <\/span><span>They <\/span><span>do <\/span><span>not <\/span><span>establish <\/span><span>whether <\/span><span>every <\/span><span>foundation <\/span><span>held <\/span><span>enough <\/span><span>readily <\/span><span>available <\/span><span>money <\/span><span>pour <\/span><span>son <\/span><span>planned <\/span><span>spending.<\/span><\/p><p><span>Investissement <\/span><span>returns <\/span><span>\u00e9galement <\/span><span>varied <\/span><span>selon <\/span><span>\u00e0 <\/span><span>comment <\/span><span>beaucoup <\/span><span>risque <\/span><span>fondements <\/span><span>accepted. <\/span><span>Those <\/span><span>avec <\/span><span>plus <\/span><span>que <\/span><span>moiti\u00e9 <\/span><span>leur <\/span><span>actifs <\/span><span>dans <\/span><span>equities <\/span><span>achieved <\/span><span>average <\/span><span>cumulative <\/span><span>returns <\/span><span>de <\/span><span>29.6% <\/span><span>plus de <\/span><span>le <\/span><span>five-year <\/span><span>period, <\/span><span>compared <\/span><span>avec <\/span><span>23.9% <\/span><span>\u00e0 travers <\/span><span>le <\/span><span>complet <\/span><span>sample.<\/span><\/p><p><span>Plus \u00e9lev\u00e9 <\/span><span>equity <\/span><span>allocations <\/span><span>peut <\/span><span>improve <\/span><span>returns <\/span><span>plus de <\/span><span>time, <\/span><span>mais <\/span><span>ils <\/span><span>\u00e9galement <\/span><span>expose <\/span><span>fondements <\/span><span>\u00e0 <\/span><span>plus grand <\/span><span>losses <\/span><span>during <\/span><span>march\u00e9 <\/span><span>downturns. <\/span><span>An <\/span><span>organisation <\/span><span>that <\/span><span>has <\/span><span>promised <\/span><span>substantial <\/span><span>grants <\/span><span>cannot <\/span><span>necessarily <\/span><span>wait <\/span><span>pour <\/span><span>share <\/span><span>prices <\/span><span>\u00e0 <\/span><span>recover <\/span><span>avant <\/span><span>making <\/span><span>payments.<\/span><\/p><p><span>Foundations <\/span><span>doit <\/span><span>therefore <\/span><span>judge <\/span><span>investissement <\/span><span>performance <\/span><span>alongside <\/span><span>leur <\/span><span>spending <\/span><span>commitments. <\/span><span>A <\/span><span>gras <\/span><span>annual <\/span><span>retour <\/span><span>increases <\/span><span>le <\/span><span>valeur <\/span><span>de <\/span><span>a <\/span><span>portfolio, <\/span><span>mais <\/span><span>gains <\/span><span>sur <\/span><span>investissements <\/span><span>that <\/span><span>have <\/span><span>not <\/span><span>been <\/span><span>sold <\/span><span>do <\/span><span>not <\/span><span>automatically <\/span><span>provide <\/span><span>le <\/span><span>esp\u00e8ces <\/span><span>needed <\/span><span>pour <\/span><span>grants. <\/span><span>Foundations <\/span><span>peut-\u00eatre <\/span><span>receive <\/span><span>dividends <\/span><span>et <\/span><span>bond <\/span><span>interest, <\/span><span>draw <\/span><span>sur <\/span><span>r\u00e9serves <\/span><span>ou <\/span><span>sell <\/span><span>investissements <\/span><span>\u00e0 <\/span><span>meet <\/span><span>ceux-l\u00e0 <\/span><span>payments.<\/span><\/p><p><span>Le <\/span><span>amount <\/span><span>available <\/span><span>pour <\/span><span>grants <\/span><span>depends <\/span><span>sur <\/span><span>le <\/span><span>portfolio&#8217;s <\/span><span>total <\/span><span>return, <\/span><span>le <\/span><span>foundation&#8217;s <\/span><span>spending <\/span><span>politique <\/span><span>et <\/span><span>comment <\/span><span>beaucoup <\/span><span>capital <\/span><span>trustees <\/span><span>intend <\/span><span>\u00e0 <\/span><span>preserve.<\/span><\/p><h2><span>What <\/span><span>Zero <\/span><span>Interest <\/span><span>Rates <\/span><span>Mean <\/span><span>Pour <\/span><span>Foundation <\/span><span>Esp\u00e8ces<\/span><\/h2><p><span>Le <\/span><span>Swiss <\/span><span>National <\/span><span>Bank&#8217;s <\/span><span>decision <\/span><span>\u00e0 <\/span><span>maintain <\/span><span>son <\/span><span>politique <\/span><span>taux <\/span><span>\u00e0 <\/span><span>0% <\/span><span>dans <\/span><span>septembre <\/span><span>2026 <\/span><span>has <\/span><span>conserv\u00e9 <\/span><span>returns <\/span><span>sur <\/span><span>ordinary <\/span><span>Swiss-franc <\/span><span>deposits <\/span><span>low.&nbsp;Banks <\/span><span>set <\/span><span>leur <\/span><span>own <\/span><span>deposit <\/span><span>taux <\/span><span>et <\/span><span>fees, <\/span><span>so <\/span><span>fondements <\/span><span>peut-\u00eatre <\/span><span>receive <\/span><span>different <\/span><span>conditions <\/span><span>depending <\/span><span>sur <\/span><span>le <\/span><span>institution <\/span><span>et <\/span><span>le <\/span><span>size <\/span><span>de <\/span><span>leur <\/span><span>balances. <\/span><span>Administrateurs <\/span><span>peut <\/span><span>negotiate <\/span><span>ceux-l\u00e0 <\/span><span>terms, <\/span><span>mais <\/span><span>switching <\/span><span>banques <\/span><span>cannot <\/span><span>guarantee <\/span><span>beaucoup <\/span><span>plus \u00e9lev\u00e9 <\/span><span>returns <\/span><span>quand <\/span><span>short-term <\/span><span>int\u00e9r\u00eat <\/span><span>taux <\/span><span>\u00e0 travers <\/span><span>le <\/span><span>march\u00e9 <\/span><span>sont <\/span><span>close <\/span><span>\u00e0 <\/span><span>zero.<\/span><\/p><p><span>Even <\/span><span>small <\/span><span>differences <\/span><span>dans <\/span><span>int\u00e9r\u00eat <\/span><span>taux <\/span><span>peut <\/span><span>add <\/span><span>up.&nbsp;A <\/span><span>foundation <\/span><span>holding <\/span><span>CHF <\/span><span>5 <\/span><span>million <\/span><span>dans <\/span><span>esp\u00e8ces <\/span><span>would <\/span><span>earn <\/span><span>CHF <\/span><span>25\u2019000 <\/span><span>annually <\/span><span>\u00e0 <\/span><span>un <\/span><span>int\u00e9r\u00eat <\/span><span>taux <\/span><span>de <\/span><span>0.5%, <\/span><span>avant <\/span><span>fees <\/span><span>et <\/span><span>taxes. <\/span><span>At <\/span><span>0%, <\/span><span>\u00e7a <\/span><span>would <\/span><span>receive <\/span><span>no <\/span><span>interest. <\/span><span>Le <\/span><span>comparison <\/span><span>est <\/span><span>illustrative, <\/span><span>rather <\/span><span>que <\/span><span>a <\/span><span>measure <\/span><span>de <\/span><span>revenu <\/span><span>currently <\/span><span>lost <\/span><span>by <\/span><span>Swiss <\/span><span>foundations, <\/span><span>et <\/span><span>earning <\/span><span>a <\/span><span>plus \u00e9lev\u00e9 <\/span><span>retour <\/span><span>peut-\u00eatre <\/span><span>require <\/span><span>accepting <\/span><span>different <\/span><span>conditions <\/span><span>ou <\/span><span>risks.<\/span><\/p><p><span>Secteur bancaire <\/span><span>co\u00fbts <\/span><span>\u00e9galement <\/span><span>deserve <\/span><span>attention because a<\/span><span>ccount <\/span><span>fees, <\/span><span>custody <\/span><span>charges, <\/span><span>investment-management <\/span><span>fees <\/span><span>et <\/span><span>transaction <\/span><span>co\u00fbts <\/span><span>reduce <\/span><span>le <\/span><span>amount <\/span><span>fondements <\/span><span>keep <\/span><span>de <\/span><span>leur <\/span><span>investments.<\/span><\/p><p><span>A <\/span><span>0.25% <\/span><span>annual <\/span><span>management <\/span><span>fee <\/span><span>sur <\/span><span>a <\/span><span>CHF <\/span><span>20 <\/span><span>million <\/span><span>portefeuille <\/span><span>amounts <\/span><span>\u00e0 <\/span><span>CHF <\/span><span>50\u2019000. <\/span><span>At <\/span><span>0.5%, <\/span><span>le <\/span><span>annual <\/span><span>charge <\/span><span>rises <\/span><span>\u00e0 <\/span><span>CHF <\/span><span>100\u2019000, <\/span><span>assuming <\/span><span>le <\/span><span>fee <\/span><span>applies <\/span><span>\u00e0 <\/span><span>le <\/span><span>complet <\/span><span>portefeuille <\/span><span>value. <\/span><span>Foundations <\/span><span>besoin <\/span><span>\u00e0 <\/span><span>assess <\/span><span>quoi <\/span><span>services <\/span><span>ils <\/span><span>receive <\/span><span>dans <\/span><span>retour <\/span><span>et <\/span><span>whether <\/span><span>ils <\/span><span>pourrait <\/span><span>obtain <\/span><span>better <\/span><span>conditions <\/span><span>elsewhere.<\/span><\/p><p><span>Lower <\/span><span>fees <\/span><span>do <\/span><span>not <\/span><span>necessarily <\/span><span>produce <\/span><span>better <\/span><span>investissement <\/span><span>results <\/span><span>si <\/span><span>cheaper <\/span><span>services <\/span><span>fail <\/span><span>\u00e0 <\/span><span>provide <\/span><span>le <\/span><span>oversight <\/span><span>ou <\/span><span>expertise <\/span><span>le <\/span><span>organisation <\/span><span>needs. <\/span><span>Administrateurs <\/span><span>devrait <\/span><span>compare <\/span><span>co\u00fbts <\/span><span>alongside <\/span><span>portefeuille <\/span><span>performance, <\/span><span>risque <\/span><span>et <\/span><span>le <\/span><span>quality <\/span><span>de <\/span><span>reporting.<\/span><\/p><p><span>Le <\/span><span>available <\/span><span>Swiss <\/span><span>research <\/span><span>does <\/span><span>not <\/span><span>establish <\/span><span>that <\/span><span>charities <\/span><span>generally <\/span><span>r\u00e9mun\u00e9ration <\/span><span>excessive <\/span><span>secteur bancaire <\/span><span>fees. <\/span><span>It <\/span><span>does <\/span><span>show <\/span><span>why <\/span><span>co\u00fbts <\/span><span>deserve <\/span><span>attention <\/span><span>alongside <\/span><span>investissement <\/span><span>returns, <\/span><span>particularly <\/span><span>pour <\/span><span>fondements <\/span><span>that <\/span><span>depend <\/span><span>sur <\/span><span>leur <\/span><span>portfolios <\/span><span>\u00e0 <\/span><span>finance <\/span><span>grants.<\/span><\/p><h2><span>Pourquoi ? <\/span><span>Foundations <\/span><span>Cannot <\/span><span>Invest <\/span><span>Every <\/span><span>Franc<\/span><\/h2><p><span>Foundations <\/span><span>have <\/span><span>financier <\/span><span>obligations <\/span><span>that <\/span><span>make <\/span><span>acc\u00e8s <\/span><span>\u00e0 <\/span><span>esp\u00e8ces <\/span><span>as <\/span><span>important <\/span><span>as <\/span><span>investissement <\/span><span>performance.&nbsp;Many <\/span><span>approve <\/span><span>funding <\/span><span>several <\/span><span>years <\/span><span>avant <\/span><span>le <\/span><span>money <\/span><span>est <\/span><span>paid. <\/span><span>A <\/span><span>foundation <\/span><span>supporting <\/span><span>a <\/span><span>university <\/span><span>research <\/span><span>programme <\/span><span>peut-\u00eatre <\/span><span>commit <\/span><span>\u00e0 <\/span><span>annual <\/span><span>payments <\/span><span>regardless <\/span><span>de <\/span><span>comment <\/span><span>financier <\/span><span>markets <\/span><span>perform. <\/span><span>Others <\/span><span>besoin <\/span><span>money <\/span><span>available <\/span><span>pour <\/span><span>salaries, <\/span><span>property <\/span><span>maintenance <\/span><span>ou <\/span><span>urgent <\/span><span>charitable <\/span><span>projects.<\/span><\/p><p><span>Administrateurs <\/span><span>doit <\/span><span>account <\/span><span>pour <\/span><span>these <\/span><span>commitments <\/span><span>avant <\/span><span>deciding <\/span><span>comment <\/span><span>beaucoup <\/span><span>money <\/span><span>\u00e0 <\/span><span>invest. Cash <\/span><span>peut <\/span><span>\u00eatre <\/span><span>divided <\/span><span>into <\/span><span>three <\/span><span>broad <\/span><span>categories <\/span><span>selon <\/span><span>\u00e0 <\/span><span>quand <\/span><span>\u00e7a <\/span><span>va <\/span><span>\u00eatre <\/span><span>spent: <\/span><span>operating <\/span><span>funds <\/span><span>pour <\/span><span>immediate <\/span><span>payments, <\/span><span>r\u00e9serves <\/span><span>pour <\/span><span>commitments <\/span><span>plus de <\/span><span>le <\/span><span>next <\/span><span>few <\/span><span>years <\/span><span>et <\/span><span>long-term <\/span><span>capital <\/span><span>intended <\/span><span>\u00e0 <\/span><span>finance <\/span><span>avenir <\/span><span>charitable <\/span><span>work.<\/span><\/p><p><span>Le <\/span><span>amounts <\/span><span>dans <\/span><span>each <\/span><span>cat\u00e9gorie <\/span><span>depend <\/span><span>sur <\/span><span>le <\/span><span>foundation&#8217;s <\/span><span>activities <\/span><span>et <\/span><span>sources <\/span><span>de <\/span><span>income. <\/span><span>An <\/span><span>organisation <\/span><span>receiving <\/span><span>predictable <\/span><span>annual <\/span><span>donations <\/span><span>peut <\/span><span>manage <\/span><span>son <\/span><span>esp\u00e8ces <\/span><span>differently <\/span><span>de <\/span><span>one <\/span><span>that <\/span><span>relies <\/span><span>almost <\/span><span>entirely <\/span><span>sur <\/span><span>investissement <\/span><span>returns.<\/span><\/p><p><span>Investissement <\/span><span>risque <\/span><span>\u00e9galement <\/span><span>matters. <\/span><span>Money <\/span><span>needed <\/span><span>within <\/span><span>months <\/span><span>devrait <\/span><span>not <\/span><span>ordinarily <\/span><span>\u00eatre <\/span><span>exposed <\/span><span>\u00e0 <\/span><span>le <\/span><span>idem <\/span><span>march\u00e9 <\/span><span>fluctuations <\/span><span>as <\/span><span>un <\/span><span>endowment <\/span><span>intended <\/span><span>\u00e0 <\/span><span>assistance <\/span><span>charitable <\/span><span>travail <\/span><span>pour <\/span><span>decades.<\/span><\/p><p><span>A <\/span><span>foundation <\/span><span>that <\/span><span>invests <\/span><span>short-term <\/span><span>r\u00e9serves <\/span><span>dans <\/span><span>equities <\/span><span>pourrait <\/span><span>\u00eatre <\/span><span>forced <\/span><span>\u00e0 <\/span><span>sell <\/span><span>during <\/span><span>a <\/span><span>march\u00e9 <\/span><span>downturn <\/span><span>\u00e0 <\/span><span>honour <\/span><span>existant <\/span><span>commitments. <\/span><span>Even <\/span><span>relatively <\/span><span>safe <\/span><span>investissements <\/span><span>peut-\u00eatre <\/span><span>perdre <\/span><span>valeur <\/span><span>si <\/span><span>ils <\/span><span>doit <\/span><span>\u00eatre <\/span><span>sold <\/span><span>avant <\/span><span>maturity.<\/span><\/p><p><span>Foreign-currency <\/span><span>deposits <\/span><span>introduce <\/span><span>another <\/span><span>risk. <\/span><span>Plus \u00e9lev\u00e9 <\/span><span>int\u00e9r\u00eat <\/span><span>taux <\/span><span>dans <\/span><span>euros <\/span><span>ou <\/span><span>dollars <\/span><span>peut-\u00eatre <\/span><span>appear <\/span><span>attractive <\/span><span>quand <\/span><span>Swiss-franc <\/span><span>deposits <\/span><span>offre <\/span><span>little <\/span><span>income, <\/span><span>mais <\/span><span>un <\/span><span>adverse <\/span><span>exchange-rate <\/span><span>movement <\/span><span>peut <\/span><span>reduce <\/span><span>le <\/span><span>amount <\/span><span>available <\/span><span>pour <\/span><span>grants <\/span><span>paid <\/span><span>dans <\/span><span>francs.<\/span><\/p><p><span>D\u00e9tention <\/span><span>foreign <\/span><span>currencies <\/span><span>peut-\u00eatre <\/span><span>make <\/span><span>sense <\/span><span>where <\/span><span>a <\/span><span>foundation <\/span><span>has <\/span><span>corresponding <\/span><span>spending <\/span><span>commitments <\/span><span>abroad. <\/span><span>Otherwise, <\/span><span>trustees <\/span><span>doit <\/span><span>assess <\/span><span>whether <\/span><span>le <\/span><span>suppl\u00e9mentaire <\/span><span>int\u00e9r\u00eat <\/span><span>justifies <\/span><span>le <\/span><span>possibility <\/span><span>de <\/span><span>losses <\/span><span>quand <\/span><span>converting <\/span><span>le <\/span><span>money <\/span><span>back <\/span><span>into <\/span><span>Swiss <\/span><span>francs.<\/span><\/p><h2><span>What <\/span><span>Foundation <\/span><span>Boards <\/span><span>Should <\/span><span>Expect <\/span><span>From <\/span><span>Leur <\/span><span>Banks<\/span><\/h2><p><span>Swiss <\/span><span>fondements <\/span><span>rester <\/span><span>responsible <\/span><span>pour <\/span><span>leur <\/span><span>investissement <\/span><span>policies <\/span><span>m\u00eame <\/span><span>quand <\/span><span>ils <\/span><span>appoint <\/span><span>banques <\/span><span>ou <\/span><span>external <\/span><span>asset <\/span><span>managers.&nbsp;The <\/span><span>Swiss <\/span><span>Foundation <\/span><span>Code <\/span><span>recommends <\/span><span>that <\/span><span>boards <\/span><span>manage <\/span><span>actifs <\/span><span>professionally, <\/span><span>keep <\/span><span>co\u00fbts <\/span><span>under <\/span><span>control <\/span><span>et <\/span><span>consider <\/span><span>security, <\/span><span>diversification, <\/span><span>returns <\/span><span>et <\/span><span>acc\u00e8s <\/span><span>\u00e0 <\/span><span>esp\u00e8ces <\/span><span>quand <\/span><span>setting <\/span><span>leur <\/span><span>investissement <\/span><span>strategy. <\/span><span>It <\/span><span>\u00e9galement <\/span><span>calls <\/span><span>pour <\/span><span>regular <\/span><span>reviews <\/span><span>et <\/span><span>measures <\/span><span>\u00e0 <\/span><span>prevent <\/span><span>conflicts <\/span><span>de <\/span><span>interest.<\/span><\/p><p><span>These <\/span><span>responsibilities <\/span><span>involve <\/span><span>practical <\/span><span>decisions because trustees <\/span><span>besoin <\/span><span>\u00e0 <\/span><span>know <\/span><span>comment <\/span><span>beaucoup <\/span><span>money <\/span><span>le <\/span><span>foundation <\/span><span>expects <\/span><span>\u00e0 <\/span><span>distribute, <\/span><span>which <\/span><span>actifs <\/span><span>peut <\/span><span>\u00eatre <\/span><span>sold <\/span><span>quand <\/span><span>payments <\/span><span>fall <\/span><span>due <\/span><span>et <\/span><span>whether <\/span><span>investissement <\/span><span>managers <\/span><span>sont <\/span><span>en prenant <\/span><span>risques <\/span><span>consistent <\/span><span>avec <\/span><span>ceux-l\u00e0 <\/span><span>requirements.<\/span><\/p><p><span>Secteur bancaire <\/span><span>agreements <\/span><span>devrait <\/span><span>clearly <\/span><span>state <\/span><span>quoi <\/span><span>le <\/span><span>institution <\/span><span>charges <\/span><span>pour <\/span><span>custody, <\/span><span>transactions, <\/span><span>investissement <\/span><span>management <\/span><span>et <\/span><span>other <\/span><span>services. <\/span><span>Foundations <\/span><span>devrait <\/span><span>\u00e9galement <\/span><span>understand <\/span><span>le <\/span><span>conditions <\/span><span>attached <\/span><span>\u00e0 <\/span><span>deposits <\/span><span>et <\/span><span>quand <\/span><span>ils <\/span><span>peut <\/span><span>withdraw <\/span><span>leur <\/span><span>money.<\/span><\/p><p><span>Comparing <\/span><span>banques <\/span><span>becomes <\/span><span>particularly <\/span><span>pertinent <\/span><span>quand <\/span><span>a <\/span><span>foundation <\/span><span>has <\/span><span>accumulated <\/span><span>substantial <\/span><span>balances <\/span><span>through <\/span><span>donations, <\/span><span>investissement <\/span><span>proceeds <\/span><span>ou <\/span><span>delayed <\/span><span>spending. <\/span><span>Accounts <\/span><span>opened <\/span><span>years <\/span><span>earlier <\/span><span>peut-\u00eatre <\/span><span>no <\/span><span>longer <\/span><span>offre <\/span><span>le <\/span><span>most <\/span><span>suitable <\/span><span>terms.<\/span><\/p><p><span>Le <\/span><span>investissement <\/span><span>politique <\/span><span>\u00e9galement <\/span><span>needs <\/span><span>regular <\/span><span>review. <\/span><span>If <\/span><span>march\u00e9 <\/span><span>gains <\/span><span>increase <\/span><span>le <\/span><span>equity <\/span><span>share <\/span><span>de <\/span><span>a <\/span><span>portefeuille <\/span><span>beyond <\/span><span>le <\/span><span>d'accord <\/span><span>allocation, <\/span><span>trustees <\/span><span>peut-\u00eatre <\/span><span>besoin <\/span><span>\u00e0 <\/span><span>adjust <\/span><span>leur <\/span><span>holdings. <\/span><span>If <\/span><span>a <\/span><span>foundation <\/span><span>approves <\/span><span>a <\/span><span>large <\/span><span>nouveau <\/span><span>programme, <\/span><span>\u00e7a <\/span><span>peut-\u00eatre <\/span><span>besoin <\/span><span>\u00e0 <\/span><span>raise <\/span><span>esp\u00e8ces <\/span><span>avant <\/span><span>le <\/span><span>d'abord <\/span><span>paiement <\/span><span>becomes <\/span><span>due.<\/span><\/p><p><span>Banks <\/span><span>et <\/span><span>investissement <\/span><span>managers <\/span><span>peut <\/span><span>advise <\/span><span>sur <\/span><span>these <\/span><span>decisions, <\/span><span>mais <\/span><span>foundation <\/span><span>boards <\/span><span>doit <\/span><span>decide <\/span><span>comment <\/span><span>beaucoup <\/span><span>risque <\/span><span>ils <\/span><span>peut <\/span><span>accept <\/span><span>dans <\/span><span>pursuit <\/span><span>de <\/span><span>returns.<\/span><\/p><h2><span>How <\/span><span>Investissement <\/span><span>Decisions <\/span><span>Affect <\/span><span>Charitable <\/span><span>Spending<\/span><\/h2><p><span>An <\/span><span>organisation <\/span><span>that <\/span><span>spends <\/span><span>too <\/span><span>beaucoup <\/span><span>de <\/span><span>son <\/span><span>capital <\/span><span>during <\/span><span>gras <\/span><span>march\u00e9 <\/span><span>years <\/span><span>peut-\u00eatre <\/span><span>struggle <\/span><span>\u00e0 <\/span><span>maintain <\/span><span>grants <\/span><span>after <\/span><span>losses. <\/span><span>Another <\/span><span>that <\/span><span>keeps <\/span><span>most <\/span><span>de <\/span><span>son <\/span><span>richesse <\/span><span>dans <\/span><span>esp\u00e8ces <\/span><span>peut-\u00eatre <\/span><span>protect <\/span><span>le <\/span><span>nominal <\/span><span>valeur <\/span><span>de <\/span><span>son <\/span><span>r\u00e9serves <\/span><span>alors que <\/span><span>earning <\/span><span>too <\/span><span>little <\/span><span>\u00e0 <\/span><span>maintain <\/span><span>leur <\/span><span>purchasing <\/span><span>power <\/span><span>plus de <\/span><span>time.<\/span><\/p><p><span>Even <\/span><span>modest <\/span><span>inflation <\/span><span>peut <\/span><span>affect <\/span><span>le <\/span><span>amount <\/span><span>a <\/span><span>foundation <\/span><span>peut <\/span><span>fund. <\/span><span>At <\/span><span>annual <\/span><span>inflation <\/span><span>de <\/span><span>1%, <\/span><span>CHF <\/span><span>10 <\/span><span>million <\/span><span>held <\/span><span>sans <\/span><span>int\u00e9r\u00eat <\/span><span>would <\/span><span>conserver <\/span><span>son <\/span><span>nominal <\/span><span>valeur <\/span><span>mais <\/span><span>perdre <\/span><span>roughly <\/span><span>CHF <\/span><span>100\u2019000 <\/span><span>dans <\/span><span>purchasing <\/span><span>power <\/span><span>plus de <\/span><span>one <\/span><span>year.<\/span><\/p><p><span>Foundations <\/span><span>established <\/span><span>\u00e0 <\/span><span>operate <\/span><span>indefinitely <\/span><span>doit <\/span><span>account <\/span><span>pour <\/span><span>inflation <\/span><span>quand <\/span><span>deciding <\/span><span>comment <\/span><span>beaucoup <\/span><span>revenu <\/span><span>\u00e0 <\/span><span>distribute <\/span><span>et <\/span><span>comment <\/span><span>beaucoup <\/span><span>\u00e0 <\/span><span>reinvest. <\/span><span>Those <\/span><span>intending <\/span><span>\u00e0 <\/span><span>spend <\/span><span>leur <\/span><span>actifs <\/span><span>plus de <\/span><span>a <\/span><span>defined <\/span><span>p\u00e9riode <\/span><span>peut <\/span><span>take <\/span><span>a <\/span><span>different <\/span><span>approach, <\/span><span>gradually <\/span><span>spending <\/span><span>leur <\/span><span>capital <\/span><span>selon <\/span><span>\u00e0 <\/span><span>leur <\/span><span>remaining <\/span><span>commitments.<\/span><\/p><p><span>Le <\/span><span>SwissFoundations <\/span><span>benchmark <\/span><span>suggests <\/span><span>that <\/span><span>beaucoup <\/span><span>established <\/span><span>fondements <\/span><span>already <\/span><span>use <\/span><span>diversified <\/span><span>portfolios <\/span><span>\u00e0 <\/span><span>assistance <\/span><span>long-term <\/span><span>funding. <\/span><span>Leur <\/span><span>returns <\/span><span>dans <\/span><span>2025 <\/span><span>\u00e9taient <\/span><span>positive, <\/span><span>mais <\/span><span>avenir <\/span><span>grants <\/span><span>cannot <\/span><span>\u00eatre <\/span><span>based <\/span><span>sur <\/span><span>le <\/span><span>assumption <\/span><span>that <\/span><span>financier <\/span><span>markets <\/span><span>va <\/span><span>deliver <\/span><span>similar <\/span><span>gains <\/span><span>every <\/span><span>year.<\/span><\/p><p><span>Boards <\/span><span>doit <\/span><span>consider <\/span><span>quoi <\/span><span>happens <\/span><span>quand <\/span><span>returns <\/span><span>fall <\/span><span>short <\/span><span>de <\/span><span>expectations. <\/span><span>They <\/span><span>peut-\u00eatre <\/span><span>besoin <\/span><span>sufficient <\/span><span>r\u00e9serves <\/span><span>\u00e0 <\/span><span>maintain <\/span><span>d'accord <\/span><span>funding, <\/span><span>revise <\/span><span>avenir <\/span><span>grants <\/span><span>ou <\/span><span>adjust <\/span><span>comment <\/span><span>quickly <\/span><span>ils <\/span><span>spend <\/span><span>leur <\/span><span>capital.<\/span><\/p><p><span>Switzerland&#8217;s <\/span><span>CHF <\/span><span>159.6 <\/span><span>billion <\/span><span>foundation <\/span><span>sector <\/span><span>holds <\/span><span>enough <\/span><span>money <\/span><span>pour <\/span><span>investissement <\/span><span>d\u00e9cisions <\/span><span>\u00e0 <\/span><span>have <\/span><span>substantial <\/span><span>financier <\/span><span>consequences. <\/span><span>Le <\/span><span>appropriate <\/span><span>approach <\/span><span>differs <\/span><span>de <\/span><span>one <\/span><span>organisation <\/span><span>\u00e0 <\/span><span>another, <\/span><span>depending <\/span><span>sur <\/span><span>son <\/span><span>purpose, <\/span><span>spending <\/span><span>obligations <\/span><span>et <\/span><span>ability <\/span><span>\u00e0 <\/span><span>withstand <\/span><span>losses.<\/span><\/p><p><span>With <\/span><span>Swiss <\/span><span>int\u00e9r\u00eat <\/span><span>taux <\/span><span>\u00e0 <\/span><span>zero, <\/span><span>esp\u00e8ces <\/span><span>alone <\/span><span>offres <\/span><span>limited <\/span><span>income. <\/span><span><a href=\"https:\/\/www.rotharia.com\/fr\/categorie\/gestion-de-patrimoine\/impact-philanthropique\/\">Foundations<\/a> <\/span><span>still <\/span><span>besoin <\/span><span>enough <\/span><span>de <\/span><span>\u00e7a <\/span><span>\u00e0 <\/span><span>meet <\/span><span>leur <\/span><span>commitments, <\/span><span>alors que <\/span><span>investing <\/span><span>money <\/span><span>ils <\/span><span>va <\/span><span>not <\/span><span>besoin <\/span><span>immediately <\/span><span>selon <\/span><span>\u00e0 <\/span><span>a <\/span><span>clair <\/span><span>financier <\/span><span>plan. <\/span><span>Regular <\/span><span>reviews <\/span><span>de <\/span><span>secteur bancaire <\/span><span>costs, <\/span><span>esp\u00e8ces <\/span><span>r\u00e9serves <\/span><span>et <\/span><span>investissement <\/span><span>performance <\/span><span>help <\/span><span>trustees <\/span><span>determine <\/span><span>comment <\/span><span>beaucoup <\/span><span>ils <\/span><span>peut <\/span><span>distribute <\/span><span>sans <\/span><span>en pla\u00e7ant <\/span><span>avenir <\/span><span>charitable <\/span><span>travail <\/span><span>\u00e0 <\/span><span>risk.<br><br><\/span><\/p><p><span><i>ROTHARIA\/Philantropy\/The Practical Guide&nbsp;<\/i><\/span><\/p><h3 data-pm-slice=\"1 1 []\"><span>How To Structure Your Charitable Giving In Switzerland<\/span><\/h3><p><span>Wealthy individuals planning substantial donations should decide how much to give, how the money will be managed and who will oversee its distribution before transferring assets to a charitable organisation.<\/span><\/p><p><strong><span>1. Choose how you want to give.<\/span><\/strong><\/p><p><span>Direct donations suit those who want to support existing charities without taking on administrative responsibilities. Donors seeking a long-term programme can establish their own charitable foundation or create a named fund within an existing umbrella foundation. The latter allows donors to recommend projects while the host foundation handles administration and retains final legal responsibility.<\/span><\/p><p><strong><span>2. Check the tax treatment before transferring assets.<\/span><\/strong><\/p><p><span>Qualifying donations to Swiss tax-exempt charitable organisations are generally deductible up to 20% of net income for federal income-tax purposes, subject to statutory conditions. Cantonal rules may differ. Large donations, particularly those involving shares, property or foreign assets, warrant specialist tax advice before the transfer.<\/span><\/p><p><strong><span>3. Agree on how the money will be invested.<\/span><\/strong><\/p><p><span>Ask how much the organisation keeps in cash, which assets it holds and what it pays in management, custody and transaction fees. If the donation is intended to finance grants over many years, establish how the investment policy will support those payments without taking excessive risks.<\/span><\/p><p><strong><span>4. Decide how much control you want to retain.<\/span><\/strong><\/p><p><span>Establishing an independent Swiss foundation involves irrevocably dedicating assets to a charitable purpose. Donors who use an umbrella foundation can retain an advisory role, but they do not own the donated assets or have unrestricted authority over distributions.<\/span><\/p><p><strong><span>5. Require regular financial and grant reporting.<\/span><\/strong><\/p><p><span>Ask for annual information on investment returns after fees, grants distributed, cash reserves and progress against the agreed charitable objectives. Where family members participate in decisions, define their responsibilities and how future generations will become involved.<\/span><\/p><p><span>Before committing a substantial sum, compare the full costs of running an independent foundation with those of a hosted charitable fund. The Swiss Foundation Code provides guidance on investment oversight, governance and the responsibilities of foundation boards.<\/span><\/p><p><br><span><i><br><br><br><\/i><\/span><\/p><br>","protected":false},"excerpt":{"rendered":"<p>Les fondations suisses g\u00e8rent 159,6 milliards de francs suisses d'actifs, mais les d\u00e9cisions d'investissement ont une incidence sur le montant qui est finalement revers\u00e9 \u00e0 des causes caritatives. Nous avons \u00e9galement inclus un guide succinct sur les dons caritatifs en Suisse, qui aborde les avantages fiscaux, les choix d'investissement et la surveillance.<\/p>","protected":false},"author":2,"featured_media":1406,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[20],"tags":[],"class_list":["post-1407","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-philanthropy-impact"],"magazineBlocksPostFeaturedMedia":{"thumbnail":"https:\/\/www.rotharia.com\/wp-content\/uploads\/2026\/10\/rotharia_image_20261015_090b09-150x150.png","medium":"https:\/\/www.rotharia.com\/wp-content\/uploads\/2026\/10\/rotharia_image_20261015_090b09-300x200.png","medium_large":"https:\/\/www.rotharia.com\/wp-content\/uploads\/2026\/10\/rotharia_image_20261015_090b09-768x512.png","large":"https:\/\/www.rotharia.com\/wp-content\/uploads\/2026\/10\/rotharia_image_20261015_090b09-1024x683.png","1536x1536":"https:\/\/www.rotharia.com\/wp-content\/uploads\/2026\/10\/rotharia_image_20261015_090b09.png","2048x2048":"https:\/\/www.rotharia.com\/wp-content\/uploads\/2026\/10\/rotharia_image_20261015_090b09.png","trp-custom-language-flag":"https:\/\/www.rotharia.com\/wp-content\/uploads\/2026\/10\/rotharia_image_20261015_090b09-18x12.png","colormag-highlighted-post":"https:\/\/www.rotharia.com\/wp-content\/uploads\/2026\/10\/rotharia_image_20261015_090b09-392x272.png","colormag-featured-post-medium":"https:\/\/www.rotharia.com\/wp-content\/uploads\/2026\/10\/rotharia_image_20261015_090b09-390x205.png","colormag-featured-post-small":"https:\/\/www.rotharia.com\/wp-content\/uploads\/2026\/10\/rotharia_image_20261015_090b09-130x90.png","colormag-featured-image":"https:\/\/www.rotharia.com\/wp-content\/uploads\/2026\/10\/rotharia_image_20261015_090b09-800x445.png","colormag-default-news":"https:\/\/www.rotharia.com\/wp-content\/uploads\/2026\/10\/rotharia_image_20261015_090b09-150x150.png","colormag-featured-image-large":"https:\/\/www.rotharia.com\/wp-content\/uploads\/2026\/10\/rotharia_image_20261015_090b09-1200x600.png"},"magazineBlocksPostAuthor":{"name":"William","avatar":"https:\/\/secure.gravatar.com\/avatar\/82207cc30d613dea4e5fc4ce5dad6b48bc98e8cde6e3910b0adcb2b12199eab1?s=96&d=mm&r=g"},"magazineBlocksPostCommentsNumber":false,"magazineBlocksPostExcerpt":"Swiss foundations manage CHF 159.6 billion in assets, but investment decisions affect how much reaches charitable causes. We've also included a quick guide to charitable giving in Switzerland, covering tax benefits, investment choices and oversight.","magazineBlocksPostCategories":["Philanthropy &amp; Impact"],"magazineBlocksPostViewCount":15,"magazineBlocksPostReadTime":11,"magazine_blocks_featured_image_url":{"full":["https:\/\/www.rotharia.com\/wp-content\/uploads\/2026\/10\/rotharia_image_20261015_090b09.png",1200,800,false],"medium":["https:\/\/www.rotharia.com\/wp-content\/uploads\/2026\/10\/rotharia_image_20261015_090b09-300x200.png",300,200,true],"thumbnail":["https:\/\/www.rotharia.com\/wp-content\/uploads\/2026\/10\/rotharia_image_20261015_090b09-150x150.png",150,150,true]},"magazine_blocks_author":{"display_name":"William","author_link":"https:\/\/www.rotharia.com\/fr\/author\/william\/"},"magazine_blocks_comment":0,"magazine_blocks_author_image":"https:\/\/secure.gravatar.com\/avatar\/82207cc30d613dea4e5fc4ce5dad6b48bc98e8cde6e3910b0adcb2b12199eab1?s=96&d=mm&r=g","magazine_blocks_category":"<a href=\"https:\/\/www.rotharia.com\/fr\/category\/wealth-management\/philanthropy-impact\/\">Philanthropy &amp; Impact<\/a>","videoUrl":"","yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How Swiss Foundations Put CHF 159.6 Billion To Work<\/title>\n<meta name=\"description\" content=\"Swiss foundations manage CHF 159.6 billion in assets, but investment decisions affect how much reaches charitable causes. 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