Source: http://www.grantinfo.eu/foundation
Timestamp: 2017-11-20 05:32:26
Document Index: 216641362

Matched Legal Cases: ['§1', '§2', '§3', '§4', '§5', '§6', '§7', '§8', '§9', '§10', '§11', '§12', '§13', '§14', '§15', '§16', '§17']

Fundrasing Foundation | Grantinfo.eu
Would you like to support a charitable cause?
Fundrasing Foundation;
Start a Fundraising Foundation in Sweden
There are a number of ways to work with charity. You can get involved in organizations, donate money, sign petitions etc.
A lesser known activity for supporting a charitable cause is to start a fundraising foundation. If you have a large amount of money then you can start a regular foundation but if you don't have that kind of money then a fundraising foundation is an interesting alternative. Fundraising foundations are foundations whose purpose is to collect money for a specific purpose. They are set up by a founder who ordains that money collected after a call for funds are to form a foundation.
A charter for the foundation is written by the founder. It may consist of several documents - statutes and agreements between founding parties for example. In the charter it must be stated that it concerns a fundraising foundation and that the founder declares that any inflow of money shall be administered as an independent fortune for the benefit of a specified cause. It shall be stated in the charter who shall administer and govern the money. Normally the foundation shall be registered with appropriate authority.
A fundraising foundation must within 6 months upon signing the charter be registered with County Gouvernment.
The Charter of the Foundation shall contain information about its purpose (goal), method and sphere of recipients. Purpose is here understood as within which field the foundation shall be active (can for example cancer research). The Foundation's method specifies how the foundation shall obtain its' purpose - this usually includes a description of how funds should be managed and appropriated. The sphere of recipients states who can become a beneficiary of the Foundation (who is eligible to receive grants and scholarships).
A fundraising foundation is only allowed to collect money. It may not accept clothes, foods and other goods.
A fundraising foundation shall during an uninterrupted period of three years use at least three quarters of its income for the declared beneficiaries.
Examples of Statutes of a Collection Foundation
Statutes for Fundraising Foundation for Cancer Research
§1 The purpose of the Fundraising Foundation is to support cancer research. This is to be achieved through grants to those designated by the Board of the Foundation
§2 The Board of the Foundation shall be made up of at least three and at most five members. A maximum of two substitutes can also be appointed. The appointments shall be valid until notice is given without a fixed term. An extension or reduction of the number of Board members/ substitutes as well as accompanying elections shall according to the statutes be decided upon by the Board. Upon resignation of a Board member/ substitute a replacement is appointed by the Board. All members shall participate in such decisions and the decision shall be unanimous. If consensus cannot be reached in such matter a replacement can be appointed by supervisory authorities.
§3 The Board appoints one of its members as chairman. The Board appoints among its members or externally persons to other functions deemed necessary
§4 The Board shall receive reasonable compensation for costs incurred by the assignment.
§5 The Foundation has its seat in Karlstad.
§6 Signatory rights for the Foundation are granted by the Board.
§7 The Chairman of the Board shall ensure that meetings are held when needed and summons to these in writing or orally. Necessary documentation shall be provided well in advance of the meeting when necessary.
§8 Unless otherwise stipulated in these statutes the Board is competent to make decisions with at least three members, including substitutes, present. Decision are made by majority vote unless otherwise stipulated in the statutes. The chairman has the deciding vote if vote is equal.
§9 Minutes shall be written at each Board meeting and they shall be signed by the Chairman along with other persons appointed for this on each occasion. The minutes shall be numbered and stored in a reassuring way.
§10 The Board shall ensure that the assets of the Foundation are managed in a reassuring and profitable manner.
§11 Means inflowing after the appeal for funds which the Foundation intends to publish shall constitute and independent fortune for the benefit of the fixed and permanent purposes of the Foundation. The funds of the Foundation shall benefit it's cause by awarding grants to individuals and/or organizations who through their activities promote and advance the purpose of the Foundation. The Board of the Foundation decide who shall be awarded such grants and with what amounts.<br />
§12 The Foundation must keep accounts. The financial year should be calender year.
§13 By founder appointed auditor fulfills his duties until further notice. A successor can be appointed by supervisory authority.
§14 Latest as of the 31st of March the directors' report and the accounts for prior year shall be submitted to the auditor, who within a month shall report on whether the Board has managed the foundation in accordance with the statutes, good practices and the law. The directors' report and the auditors report shall be submitted to Regional Government in Värmland.
§15 Change of these statutes may only be decided upon by a complete and unanimous Board, with the prerequisite that any changes do not contradict the original purpose of the foundation.
§16 The Foundation shall be supervised according to the law (1929:116) concerning supervision of foundations.
§17 The Foundation may be dissolved if the Board makes such a request according to current legislation. In connection with this the Board shall make arrangements for the remaining assets to continue to serve the purpose of the foundation. A request for dissolution shall be proceeded by a unanimous decision taken by a unanimous and complete board.
Karlstad 30 june 2014
ABC Fundraising Foundation
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