Like any organization, the Fund must be registered in the relevant institutions, must be accountable in its activities.

The basic normative documents regulating the establishment and operation of funds:

  • Of the Federal law N135-FZ dated 11.08.1995 "About charitable activity and charitable organizations";

  • Of the Federal law N7-FZ of 12.01.1996 "On noncommercial organizations".

By law, a charitable Foundation prohibited commercial activity. Money in the Fund come from donors and sponsors. Not less than 80% of contributions received must be spent on charity and not more than 20% for the maintenance of the organization itself.

Money, material resources and services that are provided to the Fund are not taxable. All the momentum of the Fund are documented and submitted quarterly to the tax office in the form of "Report on the use of funds for non-profit organizations.

How to create a charitable Foundation?

The documents that you must provide to create a charitable Foundation:

  • for the founders of natural persons the name of the Fund and its activities;

  • for founders legal entities, additionally the constituent documents;

  • a certificate of registration in EGRUL;

  • the certificate on statement on the tax account;

  • the certificate of registration and constituent documents;

  • Bank details of the founder - legal entity;

  • the letter of Goskomstat on assignment of codes;

  • documents confirming the location of the organization;

  • information about officials - the Director, the accountant.

Be sure to the tax served copies of constituent documents and the Charter, because on their basis the decision on inclusion of the Fund in the registry of non-profit organizations for tax exemption on certain types of income (donations, income from deposits and securities, grants or subsidies from the budgets, etc.).