Foundation: the foundations activities
Legal status and order of activities of the funds are governed by the Federal laws "On noncommercial organizations", "On public associations" and "On charitable activities and charitable organizations".
Many issues relating to the activities of non-profit funds are reflected in the Civil code of the Russian Federation.
Fund – a kind of non-profit organizations. There was no membership. To establish a Fund can citizens or legal persons, who voluntarily contribute for that purpose contributions. Created a non-profit organization to promote cultural, educational, charitable or other uses, with a social utility.
All the property which passed to the Fund of its founders, becomes the property of the organization. The Fund is not liable for the obligations of the founding individuals, and they are not responsible for the existing liabilities of the Fund. Use its property Fund exclusively for purposes that are clearly defined in the Charter of the organization.
A mandatory requirement is an annual publication of Fund reports on the use of property of the organization.
A nonprofit Foundation has the right to engage in entrepreneurial activity, but only in the case when such meets the objectives of the Fund and is required to carry out the Foundation's statutory tasks. To do business, the Fund has the right to create economic societies or to participate in the activities of the already established structures of this type.
Most often in practice, there are charities whose activities has its own characteristics. For example, the charity has the right to use the funds and property to support political movements, groups and parties. Can't this organization also participate in business entities together with other persons.
The Supreme management body of the charitable Foundation should be collegial. Members of the high authority may perform their duties only as volunteers. There are also restrictions on participation in higher on those persons who are employees of the Executive body of the charitable Foundation. The officers of this Fund may not hold positions in the organizations, whose founder is a charitable Foundation.
Since the Fund is not based on the principles of membership, its founders may not participate in the activities of this organization. They shall have the right to intervene in the Affairs of the Fund through its management bodies.