SSE Riga Alumni Association is a non-profit organization. Our aim is to enable alumni of SSE Riga to stay in touch with each other and to support our Alma Mater. Moreover, in the recent years, since the introduction of study fees at SSE Riga, Alumni Association has put a continuous effort to coordinate fundraising activities for the support of the most talented students from all over Baltics by providing scholarships to cover the tuition fee for the first year of studies at SSE Riga.
SSE Riga is known as an institution that provides business education of the highest quality not only in the Baltic region, but in whole Europe. Excellence and professionalism of its graduates is highly valued by the local and international companies. Moreover, many SSE Riga alumni become employers themselves by developing their own businesses. Therefore, to continue enriching business community with a constant flow of new professionals, our goal is to diminish financial constrains for potential SSE Riga students. Thus, Alumni Association has taken the initiative of raising funds for needs-based scholarships for the first year students of SSE Riga.
As financing in the form of the previous inter-governmental agreement between Latvian and Swedish governments has been ceased in 2010 the study fee at SSE Riga of EUR 6,000 a year has been introduced. With the governmental support the entrants from the Baltic States still receive a study fee discount of EUR 2,500 a year. The remaining EUR 3,500 a year has to be covered by the students themselves. Alumni Association and its members feel the necessity to encourage the brightest minds of the Baltics to continue applying for the studies at SSE Riga regardless of their financial situation.
1) Approx. 40% of accepted students come from low income families and have difficulties of paying the tuition fee;
2) If there is no information regarding the potential support and opportunities, SSE Riga feels that many potential students would have not applied because unable to cover the tuition fee;
3) In 2010, from an intake of 120, 64 (>50%) students had applied for a need based scholarship.
Results and impact
1) Over last two years private and cooperative supporters from Latvia, Estonia, Lithuania have donated more than 80 000 EUR for Baltic students;
2) 47 students were granted partial scholarship during 2010 and 2011;
3) Among the receivees of the scholarship, we have:
a. Bright students with insufficient funding (needs-based scholarships)
b.The best academic performers
c. The most active assistants to the professors and administration
d. Social life creators
Some examples of selected students for scholarship support in 2010 (names changed):
Juris from rural Latvia:
• Father pensioner - 150 EUR /month, diagnosed with brain tumor
• Mother unemployed, 130 EUR/m unempl. benefit, lost her job due to illness, currently takes care of household
• Until now Juris has been studying at secondary school and on weekends working on the farm field
• Juris had to choose whether to study further or work in the field to support his family
• Alumni provided 1`750 EUR to cover half of the tuition fee for his first year
Liene from Riga outskirts, Latvia:
• Family of six, father had died in 2010 due to cancer, mother is freelance proofreader
• Sister and two brothers are school age; youngest sibling 5yrs old – impossible for mother to earn for family
• Liene plans to support the family as she graduates and if she takes loan she would be unable to
• Liene had won 4 regional Olympiads in debate, Latvian, and French language
• Alumni has provided full 3`500 EUR scholarship for her first year
Great number of individuals from SSE Riga Alumni community and corporate donors with direct Alumni involvement contributed to the last years’ fundraising. We would use the opportunity to thank all of them deeply and sincerely, and encourage participating also in this year’s campaign, sharing the experience and inviting the friends and fellow course mates to take part in this very important event.
How to donate?
Typically, the donations are from 200 EUR up to full scholarship of 3,500 EUR. We encourage to form year based scholarships (E.g. Year 2006 Scholarship of 3500 EUR); however, whatever will be your form and amount of donation we will sincerely appreciate your involvement.
You can also contact with your country coordinator to get information about the resource pulling practice in these countries:
Latvia – Mr. Deniss Aksjonovs (firstname.lastname@example.org)
Lithuania – Mr. Ramojus Gineika (email@example.com)
Estonia – Mr. Raiko Uri (firstname.lastname@example.org)
UK – Mrs. Vilma Midveryte (email@example.com)
When the resources are pulled together, the representative of the graduation year or the group of alumni makes the bank wire transfer to the accounts of Alumni Association indicated on the right side of this web section.
You can also make individual transfers with notice – 2012 fundraising for scholarships. The Association would encourage you to make the donations via wire transfers and not use the installed PayPal application, because we lose significant amounts due to commissions and lately we have experienced problems with the PayPal service.
Donations are tax exempt, so there are tax benefits when donating for scholarships. These differ across countries:
AA as registered in Latvia has social benefit status, so when donating to AA, tax benefits apply. Private persons can receive all personal income tax (25%) back from the tax authorities by including donation amount in his/her annual tax returns declaration. This person doesn’t need to show any legal contract to the tax authorities or any other supporting documentation, apart from indicating that the donation is to “Rīgas Ekonomikas Augstskolas Absolventu Asociācija”. Legal persons can receive 85% of donated amount back from the tax authorities, subject to of course having enough corporate income tax from which to reduce the tax deduction. If a legal person requires a contract for the donation, it can be arranged. For any questions please contact Deniss Aksjonovs (firstname.lastname@example.org).
Bank account details:
Beneficier: RĪGAS EKONOMIKAS AUGSTSKOLAS ABSOLVENTU ASOCIĀCIJA
Strēlnieku iela 4a, Rīga, LV-1010
IBAN: LV02HABA0551002354850 (multi currency)
SWIFT/BIC code: HABALV22
BIC/SWIFT code: UNLALV2X
The donations are fully tax deductible under the Estonian law for Estonian taxpayers (foreign tax residents should check their local tax code). For companies special clauses apply, please contact Raiko Uri (email@example.com) for details.
Bank account details:
Beneficier: MTÜ SSE RIGA TOETUSFOND
Account no: 221045221018
Details: note your personal code
For international bank transfers:
SWIFT/BIC code: HABAEE2X
Donating through a Lithuanian Alumni chapter (VšĮ "ŠAEMAA") is available for Lithuanian companies, as the chapter has the beneficiary (Lith.: "Paramos gavėjas") status (i.e. it is eligible to receive support).
According to the Lithuanian *Law on Corporate Income Tax*:
*Article 28. Sponsorship*
**1. Taxpayers who are entitled to provide charity and sponsorship under the Law of the Republic of Lithuania on Charity and Sponsorship shall be allowed to deduct from their income all of the payments made (except for cash payments which exceed the amount of 250 MLS in respect of a single recipient of sponsorship or charity during the tax period), including the assets transferred and services provided, which are intended for charity and sponsorship in accordance with the procedure laid down in the Law of the Republic of Lithuania on Charity and Sponsorship, unless this Article provides otherwise.
*2. Taxpayers who are entitled to provide only sponsorship under the Law of the Republic of Lithuania on Charity and Sponsorship, shall be allowed to deduct from their income two times the payments made (except for cash payments which exceed the amount of 250 MLS in respect of a single recipient of sponsorship during the tax period), including the assets transferred and services provided, which are intended for sponsorship in accordance with the procedure laid down in the Law of the Republic of Lithuania on Charity and Sponsorship, but not in excess of 40% of the taxpayer’s income, calculated by deducting non-taxable income, allowable deductions and limited allowable deductions, except for sponsorship and losses from the previous tax periods.
Second part of article 28 is applicable for most of the companies (i.e. non charities or eligible to provide charity entities).
Bank account details:
Beneficier: VšĮ Švedijos aukštųjų ekonomikos mokyklų absolventų asociacija (you can abbreviate to VsI SAEMA)
Entity code: 300014743
Address: Šv. Stepono g. 7-26, Vilnius, Lithuania
SWIFT/BIC code: HABALT22
In case your company would like to donate funds for scholarships or support SSE Riga students' activities (e.g. Peaktime, Investment Game etc.) or have any questions, please contact Deniss Aksjonovs (firstname.lastname@example.org).
How are scholarships distributed?
Applicants are both required to submit an application form detailing and supporting the need for scholarship and to be interviewed further. Alumni representatives together with SSE Riga administration take part in the evaluation process. You may also apply to ensure yourself that the most deserving student receives a scholarship.
Alumni activities and events:
You can also donate to support the ongoing activities of Alumni Association, such as annual update of contact information, Alumni web page development, Alumni social events (Home Coming, Alumni sports events etc.). It will be greatly appreciated.
RĪGAS EKONOMIKAS AUGSTSKOLAS ABSOLVENTU ASOCIĀCIJA Reg. No: 40008017170 Address: Strēlnieku iela 4a, Rīga, LV 1010
Bank: Hansabanka SWIFT: HABALV22 LV02HABA0551002354850 or Bank: SEB SWIFT: UNLALV2X LVL : LV48UNLA0050016233810 EUR: LV79UNLA0050016233834 Chairperson of Business Committee
Deniss Aksjonovs email@example.com