How to create your Fund

The Fund is a non - profit organization that represents the Union of the property of several natural or legal persons for certain purposes. The Fund is required to anyone who wants to engage in charity or other socially useful activity. It is created by one or more founders by a decision on its establishment and is registered in the Ministry of Justice of the Russian Federation. Founders form the assets of the Fund.

You will need

• You must purchase the Federal Law "On noncommercial organizations" from 12.01.1996 g.

Instruction

1. Russian legislation does not contain a list of types of funds. The most simple classification - a classification according to institutions. Private foundations are created by individuals, e.g. family members. Corporate funds may be established companies or non-profit organizations. Public funds are created by public associations or initiative groups of citizens. There are mixed funds.
2. The Fund is a legal entity, which means that it may on its own behalf acquire and exercise property and non-property rights and bear obligations, be a plaintiff and defendant in court. The Fund is considered created from the moment of its state registration and has no restrictions to its validity, unless otherwise provided in its founding documents.
3. The establishment of the Fund occurs according to the decision of its founders (or founder). In the first case, the Foundation conducted a meeting at which the decision on the establishment of the Fund. It also approved the Charter of the Fund is its primary document which defines its purpose. If the founder of one Foundation, he personally decides on the establishment of the Fund and approves the Charter.
4. Sources of formation of property of Fund may be received from founders, voluntary contributions of all parties in interest income from entrepreneurial activities and any other means. According to the law, received by the Fund, the profit is not distributed among the founders. The property described and all revenues are the property of the Fund. They are used for the purposes specified in the Charter.
5. The Funds, as well as other non-profit organization, registered in territorial body of the Ministry of justice of the Russian Federation. To register a Foundation the following documents are required:
   1. statement;
   2. the statutes in triplicate;
   3. the decision to establish the Fund in two copies;
   4. information about founders in two copies;
   5. receipt for payment of the state fee (the fee is 4000 rubles);
   6. information about the location of the permanently functioning body of the Fund to communicate with him.