Among public organizations, the foundation stands apart. As a non-profit structure, the foundation has its own charter, which defines the goals and objectives of the organization, as well as governing bodies that exercise control over the implementation of the organization's activities. The foundation's work is carried out in accordance with civil law.
Foundation: basics of activity
The legal status and procedure for carrying out the activities of the foundations are regulated by the federal laws “On Non-Commercial Organizations”, “On Public Associations” and “On Charitable Activities and Charitable Organizations”.
A significant part of the issues related to the activities of non-commercial foundations is reflected in the Civil Code of the Russian Federation.
A foundation is a type of non-profit organization. It does not provide membership. The foundation can be established by citizens or legal entities who, on a voluntary basis, make property contributions for this purpose. Such a non-profit organization is created for the implementation of cultural, educational, charitable or other purposes of public benefit.
All property, which is transferred to the foundation by its founders, becomes the property of this organization. At the same time, the fund is not responsible for the obligations of the persons who founded it, and they are not responsible for the existing obligations of the fund. The foundation can use its property solely for the purposes that are clearly defined in the charter of the organization.
A mandatory requirement is the annual publication by the fund of reports on the use of the organization's property.
A non-profit foundation has the right to engage in entrepreneurial activity, but only if it meets the goals of the foundation and is required to fulfill the statutory tasks facing the foundation. In order to engage in entrepreneurship, the foundation has the right to create economic companies, as well as participate in the activities of already established structures of this type.
Features of charitable foundations
Most often, in practice, there are charitable foundations, whose activities have their own characteristics. For example, a charitable foundation has no right to use funds and its property to support political movements, groups and parties. Such an organization cannot also participate in business companies together with other persons.
The supreme governing body of a charitable foundation must be collegial. The members of the supreme body are entitled to perform their duties only as volunteers. There are also restrictions on the participation in the supreme body of those persons who are employees of the executive body of the charitable foundation. Officials of such a foundation cannot hold positions in organizations founded by a charitable foundation.
Since the foundation is not based on the principles of membership, its founders may not participate in the activities of this organization. They retain the right to influence the affairs of the fund through its governing bodies.
