How to create your own fund

A fund is a non-profit organization, which is a combination of property of several individuals or legal entities to achieve certain goals. The foundation is necessary for those who want to engage in charitable or other socially useful activities. It is created by one or more founders by deciding on its establishment and is registered with the Ministry of Justice of the Russian Federation. The founders form the property of the fund.

You will need

You must purchase the Federal Law "On Non-Profit Organizations" dated 12.01.1996.

Instruction manual

1

Russian legislation does not contain a list of types of funds. The simplest classification is classification based on institution. Private foundations are created by individuals, such as family members. Corporate funds may be created by companies or non-profit organizations. Public funds are created by public associations or initiative groups of citizens. There are also mixed funds.

2

The Fund is a legal entity. This means that it has the right to acquire and exercise property and non-property rights and bear obligations on its own behalf, to be a plaintiff and defendant in court. The fund is considered to be created from the moment of its state registration and has no limitations on the duration of its activity, unless otherwise provided in its constituent documents.

3

The foundation is created by decision of its founders (or the founder). In the first case, the founders of the fund hold a meeting at which they decide on the establishment of the fund. It also approved the charter of the fund - its main document, which spelled out its goals. If the founder of the fund is alone, then he personally decides to establish the fund and approves the charter.

4

Sources for the formation of the property of the fund may be receipts from the founders, voluntary contributions of any interested parties, income from entrepreneurial activities, and any other means. According to the legislation, the profit received by the fund is not distributed among the founders. The property and all the proceeds described are the property of the fund. They are used for the purposes specified by the charter.

5

Funds, like other non-profit organizations, are registered with the territorial body of the Ministry of Justice of the Russian Federation. To register a fund, the following documents are required:

1. statement;

2. the charter in triplicate;

3. The decision to establish the fund in duplicate;

4. information about the founders in duplicate;

5. receipt of payment of state duty (amount of duty - 4000 rubles);

6. information on the location of the permanent body of the fund to communicate with him.

foundation creation