Information about Foundation (charity)
A foundation is a legal categorization of nonprofit organizations. Foundations may also and often have charitable purposes. This type of nonprofit organisation may either donate funds and support to other organizations, or provide the sole source of funding for their own charitable activities.
Foundations as legal structures (legal entities) and/or legal persons (legal personality), may have a diversity of forms and may follow diverse regulations depending on the jurisdiction where they are created.
In some jurisdictions, a foundation may acquire its legal personality when it is entered in a public registry, while in other countries a foundation may acquire legal personality by the mere action of creation through a required document. Unlike a company, foundations have no shareholders, though they may have a board, an assembly and voting members. A foundation may hold assets in its own name for the purposes set out in its constitutive documents, and its administration and operation are carried out in accordance with its statutes or articles of association rather than fiduciary principles. The foundation has a distinct patrimony independent of its founder.
Foundations are often set up for charitable purposes, family patrimony and collective purposes.
In the United States, many philanthropic and charitable organizations are considered to be foundations. However, the Internal Revenue Code distinguishes between private foundations (usually funded by an individual, family, or corporation) and public charities (community foundations or other nonprofit groups that raise money from the general public). Private foundations have more restrictions and less tax benefits than public charities.
Under Canadian law, foundations may be public or private, but both are charities. They collectively comprise a large asset base for philanthropy.
The Law of Wills, Trusts and Inheritance
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Wills
Wills · Holographic will
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The Law of Wills, Trusts and Inheritance
Part of the common law series
Wills
Wills · Holographic will
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This is a list of foundations that support or provide philanthropic activities.
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Foundations in Civil Law
The term "foundation", in general, is used to describe a distinct legal entity.Foundations as legal structures (legal entities) and/or legal persons (legal personality), may have a diversity of forms and may follow diverse regulations depending on the jurisdiction where they are created.
In some jurisdictions, a foundation may acquire its legal personality when it is entered in a public registry, while in other countries a foundation may acquire legal personality by the mere action of creation through a required document. Unlike a company, foundations have no shareholders, though they may have a board, an assembly and voting members. A foundation may hold assets in its own name for the purposes set out in its constitutive documents, and its administration and operation are carried out in accordance with its statutes or articles of association rather than fiduciary principles. The foundation has a distinct patrimony independent of its founder.
Foundations are often set up for charitable purposes, family patrimony and collective purposes.
Spain
Foundations in Spain are organizations founded with the purpose of not seeking profit and serving the general needs of the public. Such foundation may be founded by private individuals or by the public. These foundations have an independent legal personality separate from their founders. Foundations serve the general needs of the public with a patrimony that funds public services and which may not be distributed to the founders' benefit.Sweden
A foundation in Sweden (Stiftelse) is a legal entity without an owner. It is formed by a letter of donation from a founder donating funds or assets to be administered for a specific purpose. When the purpose is for the public benefit, a foundation may enjoy favourable tax treatment. A foundation may have diverse purposes, including but not limited to public benefit, humanitarian or cultural purposes, religious, collective, familiar, or the simple passive administration of funds. Normally, the supervision of a foundation is done by the county government where the foundation has its domicile, however, large foundations must be registered by the County Administrative Board (CAB), which must also supervise the administration of the foundation. The main legal instruments governing foundations in Sweden are the Foundation Act (1994:1220) and the Regulation for Foundations (1995:1280).Foundations in Common Law
USA
- Main article: Foundation (USA)
In the United States, many philanthropic and charitable organizations are considered to be foundations. However, the Internal Revenue Code distinguishes between private foundations (usually funded by an individual, family, or corporation) and public charities (community foundations or other nonprofit groups that raise money from the general public). Private foundations have more restrictions and less tax benefits than public charities.
England
In England, the word "foundation" is sometimes used in the title of a charity, as in the British Heart Foundation and the Fairtrade Foundation. Despite this, the term is not generally used in English law, and (unlike in civil law systems) the term has no precise meaning. Instead, the concept of Charitable Trust is in use.Canada
- Main article: Foundations in Canada
Under Canadian law, foundations may be public or private, but both are charities. They collectively comprise a large asset base for philanthropy.
States of Jersey
The States of Jersey are considering introducing civil law type foundations into its law. A consultation paper presenting a general discussion on foundations was brought forth to the Jersey government concerning this possibility.See also
- Charitable organisation
- Charitable trust
- List of wealthiest foundations
- Offshore foundation
- Program evaluation
- Think tank
- List of articles about charitable foundations
- Nongovernmental organization
- International nongovernmental organization
Further reading
- Dwight F. Burlingame, Philanthropy in America: A Comprehensive Historical Encyclopedia, Santa Barbara, Calif. [etc.] : ABC-CLIO, 2004
- Mark Dowie, American Foundations: An Investigative History. Cambridge, Massachusetts: The MIT Press, 2001.
- Lester M. Salamon et al, "Global Civil Society: Dimensions of the Nonprofit Sector", 1999, Johns Hopkins Center for Civil Society Studies.
- David C. Hammack, editor, "Making the Nonprofit Sector in the United States", 1998, Indiana University Press.
- Joan Roelofs, Foundations and Public Policy: The Mask of Pluralism, State University of New York Press, 2003, ISBN 0791456420
Further listening
- Joan Roelofs, The Invisible Hand of Corporate Capitalism, Recorded at Hampshire College, April 18, 2007. http://www.traprockpeace.org/edrussell/JoanRoelofs18April07AImedia.mp3
External links
- European Foundation Centre.
- The Foundation Center, a Clearinghouse of Information on the approximately 70,000 U.S. foundations
- Council on Foundations
A non-profit organization (abbreviated "NPO", also "non-profit" or "not-for-profit") is a legally constituted organization whose primary objective is to support or to actively engage in activities of public or private interest without any commercial or monetary profit purposes.
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charitable organization (also known as a charity) is an organization with charitable purposes only. Trusts, foundations, unincorporated associations and in some jurisdictions specific types of companies, may be established for a charitable purpose or may acquire such purpose
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Civil law may refer to:
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- Civil law (common law),the area of law in common law countries governing relations between private individuals
- Civil law (legal system), a system of law based on the Corpus Juris Civilis prevalent in continental Europe, Central and South America,
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The term legal entity is sometimes used:
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- to refer to a juristic person, an artificial entity that the law treats for some purposes as if it were a person, such as an incorporated organization.
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The term legal entity is sometimes used:
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- to refer to a juristic person, an artificial entity that the law treats for some purposes as if it were a person, such as an incorporated organization.
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A juristic or juridical person is an artificial entity through which the law allows a group of natural persons to act as if it were a single composite individual for certain purposes, or in some jurisdictions, for a single person to have a separate legal personality other than
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A shareholder or stockholder is an individual or company (including a corporation) that legally owns one or more shares of stock in a joint stock company. A company's shareholders collectively own that company. Thus, such companies strive to enhance shareholder value.
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fiduciary duty is a legal relationship between two or more parties (most commonly a "fiduciary" or "trustee" and a "principal" or "beneficiary") that in English common law is arguably the most important concept within the portion of the legal system known as equity.
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Patrimony may refer to:
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- Property or other legal entitlements inherited from (or through) one's father, especially if it has been handed down through generations in the same family, birthright.
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An entrepreneur (a loanword from French introduced and first defined by the Irish economist Richard Cantillon) is a person who operates a new enterprise or venture and assumes some accountability for the inherent risks.
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charitable organization (also known as a charity) is an organization with charitable purposes only. Trusts, foundations, unincorporated associations and in some jurisdictions specific types of companies, may be established for a charitable purpose or may acquire such purpose
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In common law legal systems, the law is created and/or refined by judges: a decision in the case currently pending depends on decisions in previous cases and affects the law to be applied in future cases.
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A foundation in the United States is a type of charitable organization. However, the Internal Revenue Code distinguishes between private foundations (usually funded by an individual, family, or corporation) and public charities (community foundations and other nonprofit groups that
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Private foundations are entities founded by private individuals alone or in private association. Diverse countries allow and recognize these types of foundations under diverse regulations and laws.
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The of this article or section may be compromised by "peacock terms".
You can help Wikipedia by removing peacock terms. Community foundations (CFs) are instruments of civil society designed to pool donations into a coordinated investment and grant making facility
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You can help Wikipedia by removing peacock terms. Community foundations (CFs) are instruments of civil society designed to pool donations into a coordinated investment and grant making facility
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The Fairtrade Foundation
Charitable organization
Founded 1992
Headquarters London, UK
Key people Harriet Lamb, Director
Employees ~41 (2006)
Website www.fairtrade.org.
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Charitable organization
Founded 1992
Headquarters London, UK
Key people Harriet Lamb, Director
Employees ~41 (2006)
Website www.fairtrade.org.
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worldwide view of the subject.
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The Law of Wills, Trusts and Inheritance
Part of the common law series
Wills
Wills · Holographic will
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Foundations in Canada collectively comprise a very large asset base for philanthropy. As of 2003, there were over 2,000 active grantmaking foundations in Canada, who had total assets of $12.5 billion CAD, with total grants given that year of over $1 billion CAD.
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The Canadian legal system has its foundation in the British common law system, inherited from being a part of the Commonwealth. Quebec, however, still retains a civil system for issues of private law.
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Private foundations are entities founded by private individuals alone or in private association. Diverse countries allow and recognize these types of foundations under diverse regulations and laws.
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charitable organization (also known as a charity) is an organization with charitable purposes only. Trusts, foundations, unincorporated associations and in some jurisdictions specific types of companies, may be established for a charitable purpose or may acquire such purpose
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Philanthropy is the act of donating money, goods, time, or effort to support a charitable cause, usually over an extended period of time and in regard to a defined objective.
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Jersey
This article is part of the series:
Politics of Jersey
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This article is part of the series:
Politics of Jersey
- Duke of Normandy: H M The Queen
- Lieutenant Governor: Andrew Ridgway
- Bailiff: Sir Philip Bailhache
- National Assembly
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charitable organization (also known as a charity) is an organization with charitable purposes only. Trusts, foundations, unincorporated associations and in some jurisdictions specific types of companies, may be established for a charitable purpose or may acquire such purpose
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worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page.
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The Law of Wills, Trusts and Inheritance
Part of the common law series
Wills
Wills · Holographic will
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List of wealthiest foundations is an annotated list of the largest foundations and other charitable organizations, organised by country and size of financial endowment.
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Canada
- The Mastercard Foundation of Toronto,Ontario $2.
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An offshore foundation is simply a conventional foundation that is formed under the laws of an offshore jurisdiction. Like conventional foundations they are generally a low tax entity, but with less "red tape" and reporting requirements.
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Program evaluation is a formalized approach to studying and assessing projects, policies and program and determining if they 'work'. Program evaluation is used in government and the private sector and it's taught in numerous universities.
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A think tank (also called a policy institute) is an organization, institute, corporation, or group that conducts research and engages in advocacy in areas such as social policy, political strategy, science or technology issues, industrial or business policies, or military
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- This is an incomplete list of foundations, which can or may never satisfy any objective standard for completeness. Revisions and additions are welcome.
This is a list of foundations that support or provide philanthropic activities.
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