Private universities, who are registered as non-profits, were among the local NGOs with the highest revenues last year, according to data from the Finance Ministry cited by local Economica.net.

Three private universities joined the top 10 “wealthiest” non-profits in 2015.

Spiru Haret ranked first, with revenues of EUR 24.6 million. Back in 2009, the university recorded much higher revenues, namely some EUR 85.4 million, at today’s exchange rate. The same year, Ecaterina Andronescu, who was then Education Minister, argued that the diplomas issued by the university were not legal. The conflict was solved when the diplomas were finally recognized as legal in the court, but the university’s revenues kept going down afterwards.

The Romanian Football Federation ranked second with revenues of over EUR 18 million. The federation manages the national football teams and organizes football leagues. Its budget is fed by FIFA, UEFA, and sponsors.

The ranking also includes the private university Titu Maiorescu, with revenues of over EUR 13 million, and the private university Vasile Goldis, also with revenues of over EUR 13 million.

Another high-ranking non-profit is an association called “Street Victims Protection Fund”, with revenues of EUR 13.4 million last year. The fund gets money from the insurance companies that issue mandatory car insurance RCA premiums in Romania. The NGO pays damages in car accidents, under certain conditions.

The Orthodox Church is also present in the ranking, via the Archdiocese of Bucharest, with revenues of EUR 11.2 million last year.

editor@romania-insider.com