Source: https://www.daad-stiftung.de/die-stiftung/en/33046-charter/
Timestamp: 2019-01-22 00:43:05
Document Index: 526459678

Matched Legal Cases: ['§ 1', '§ 2', '§ 58', '§ 57', '§ 58', '§ 3', '§ 4', '§ 62', '§ 5', '§ 6', '§ 7', '§ 8']

Charter - DAAD-Stiftung
The English translation is provided for information purposes only. The German-language version of the charter is the official, legally binding document.
The charter was slightly changed in 2016. We are currently having the revised charter translated. For now we are providing you with the original version.
For the new edition of the charter please see the German site.
Promoting the international exchange between future leaders in academia, business and politics in all countries and in all disciplines, and thereby
Contributing to better understanding, appreciation and peaceful relations,
the Executive Committee of the DAAD resolved at its session on 5 May 1999 to establish a foundation to enable alumni, friends and partners of the DAAD to make their own personal contribution, the returns of which can provide long-term financing in the form of scholarships, and in this way, advance the notion of scholarly patronage and extend the reach of the DAAD beyond that of state-financed programmes.
The Executive Committee of the DAAD has agreed to the terms of the following charter:
§ 1 Name, Legal Form
1. The foundation bears the name “DAAD-Stiftung” (English: DAAD-Stiftung).
2. It is an unincorporated foundation, administered by the DAAD which represents the foundation in all legal and business transactions.
§ 2 Purpose of the Foundation, non profit status
1. The foundation must provide direct support to exclusively charitable purposes in accordance with the provision “tax-privileged purposes” as put forth in the German Federal Tax Code (AO) in the area of international higher education cooperation.
2. The purpose of the foundation is to support worldwide academic and artistic exchange and international higher education cooperation.
3. In order to meet the aforementioned purpose, the foundation can
grant scholarships, whereby special social, personal or famillial circumstances can play a role in the selection process,
provide financial support to academic and artistic events and research projects,
fund relevant projects of the DAAD which cannot be financed through public funding or only to an insufficient extent,
acquire funding in accordance with § 58 no. 1 of the German Federal Tax Code (AO) to support international higher education cooperation and exchange, and contribute to the tax-privileged purposes of another corporate body.
4. The foundation is responsible for performing its tasks itself or through an intermediary in accordance with § 57, par. 1, line 2 of the Federal Tax Code (AO), provided that the intermediary is not involved in fundraising as described in § 58 no. 1 of the Federal Tax Code.
5. The foundation is a charitable organisation which does not pursue profit-making purposes.
6. The capital resources of the foundation may only be used for purposes in compliance with the charter. Members of the foundation are not eligible to receive andy funds from the foundation.
7. No person may benefit from expenditures unrelated to the purpose of the foundation from disproportionately high remunerations.
§ 3 Assets of the Foundation
1. The foundation is established with an initial capital base of 10,000 DM.
2. The assets of the foundation are to be maintained at an undiminished value on a permanent basis. To this end, the foundation may, as far as permitted by relevant tax regulations, set aside annual returns as free reserves or add them to the capital base of the foundation.
3. The assets of the foundation are augmented by all grants specified for that purpose (endowments).
§ 4 Use of returns on investments and grants, named scholarships
1. The earned revenues from the foundation’s assets and non-accruing grants are to be used to fulfil the purpose of the foundation. The only returns excluded from this provision are those which are set aside to build up free reserves or increase the capital base of the foundation in accordance with § 62 AO.
2. The revenues earned from individual endowments are allocated separately in accordance with the purpose(s) specified by the respective sponsor. Scholarships can be named after sponsors if they so wish. The particular modalities pertaining to the use of funds can be individually arranged with the sponsor.
3. No person may gain profit by the receipt of disproportionately high fees or through expenditures, which do not correspond with the purpose of the foundation.
§ 5 Executive bodies
1. The foundation is managed by a board comprised of the President and Secretary General of the DAAD, as well as a university professor appointed by the DAAD. The Foundation Board elects a chairperson from its number for a two-year term.
2. The Foundation Board is specifically responsible for conducting the business of the foundation, managing the assets and approving the projects of the foundation, financed through earned revenues.
3. The Foundation Board is accountable to the Executive Committee of the DAAD.
§ 6 Administration and accountability
1. The Foundation Board manages the assets of the foundation apart from those of the DAAD. It is responsible for granting funding and implementing funding measures. To this end, it takes advantage of the existing organisational structure of the DAAD, particularly the independent selection committee for scholarship programmes. The resulting expenses can be paid out of the revenues of the foundation.
2. The Foundation Board draws up a report by 30 June every year, elucidating the assets and allocation of funding on the basis of a statement of assets, attested by a certified auditor. The report is presented to the donors, or their heirs, and the Executive Committee of the DAAD.
§ 7 Adaptation to changed circumstances, dissolution
1. Amendments to the foundation charter are effected by the Executive Committee of the DAAD at the recommendation of the Foundation Board.
2. The Executive Committee of the DAAD may dissolve the Foundation with at least a two-thirds vote if circumstances arise which continually prevent the foundation from fulfilling its said purpose in the long term. In case of dissolution or abrogation of the foundation or loss of its tax-deductable purposes, the assets of the foundation fall to the DAAD, which is obliged to use them directly and exclusively for charitable causes which correspond as closely as possible with the purpose of the foundation.
§ 8 Statement of effect
1. The amendments to thsi charter are to take effect on 1 January 2016.