Velimirianum

Purpose and Founding of the Endowment

Velimirijanum is an endowment established by the will of Velimir Mihailo Teodorović in 1889, with the clearly defined aim that its property be permanently separated from state property and used exclusively for the common good.

The founder expressly stipulated that the endowment should serve the development of science, art, trade, industry and crafts in Serbia, and that it should be managed solely and exclusively by the State Council of the Kingdom of Serbia.

Although the endowment was formally created during the founder's lifetime, owing to lengthy court disputes and heirs' claims, its funds could be used in accordance with the will only ten years after Velimir's death.

Management and Operation

After the adoption of the Act on the Operation of the Endowment in 1905, the State Council published public reports on the income and expenditure of the Velimirijanum every year and announced competitions for the award of assistance from the endowment's funds.

The first administrator of the endowment was Nikola Pašić, while later the disposal of the funds was entrusted to the Serbian Economic Society “Privrednik”. The endowment's funds financed numerous educational, scientific and humanitarian institutions.

Activity and Influence

From 1935 to 1940, regular assistance from the fund was received by numerous humanitarian and charitable institutions, the Serbian Academy of Sciences, the University of Belgrade, and schools throughout the country.

Every year the Velimirijanum purchased books and periodicals which it donated to gymnasiums, teacher-training schools and village schools, while copies remained in the endowment's library. Ten per cent of its income was systematically set aside for the improvement and beautification of Belgrade.

Fate after 1945

After the Second World War the endowment was severely damaged, and with the abolition of the State Council in 1945 its administration was taken over by the Ministry of Education. The last recorded assistance from the fund was awarded in 1971.

The Velimirijanum Endowment formally exists to this day, but no longer carries out its original activity.