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Charitable Foundation. Conditions for creating a charitable fund.

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Kaploukh Victoria
Kaploukh Victoria
Attorney
Ukraine / Kharkiv

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Reading time: 12 minutes Total views: 116
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Publication date: 10.06.2024

The creation of a charitable fund requires compliance with certain legal and administrative procedures. Here are the main steps and conditions for creating a charity fund in Ukraine:

 

  1. 1. Determination of the goal and objectives
    • Purpose of the foundation: charitable activities must be the main purpose of the foundation, for example, support for education, health care, culture, science, sports, environmental protection, etc.
    • Goals: specific directions of the fund's work, which must comply with the legislation of Ukraine on charitable activities.

    2. Founders
    • Individuals or legal entities: founders can be both citizens of Ukraine and foreigners, as well as legal entities.
    • Minimum number of founders: usually at least one founder.

    3. Constituent documents
    • Charter: the main document regulating the activities of the fund. It should contain the name of the fund, its purpose and tasks, the management procedure, the rights and duties of the founders and management bodies, the procedure for making changes to the charter, and other things.
    • Minutes of the meeting: a document that confirms the decision of the founders to create a fund.

    4. Fund registration
    • State registration: submission of documents to the state registrar to enter information about the fund into the Unified State Register of Legal Entities, Individual Entrepreneurs, and Public Organizations.
    • Necessary documents: application for registration, founding documents (statutes, minutes of the meeting), information about the founders, the decision to create the fund.

    5. Registration of financial activities
    • Bank account: opening a bank account for financial operations of the fund.
    • Accounting: keeping records of all financial transactions in accordance with the requirements of the law.

    6.Licensing and permissions (if applicable)
    • Additional licenses or permits may be required for some activities carried out by the fund.

    7. Reporting
    • Reporting to state bodies: regular submission of financial reports, reports on the fund's activities to relevant state bodies.

    8. Internal management
    • Management bodies: determination of the composition and powers of management bodies (board, audit commission, etc.).
    • Work with employees and volunteers: drawing up employment contracts, coordination of volunteer activities.

    Additional recommendations
    • Consultation with a lawyer: engaging a qualified lawyer to prepare and check documents.
    • Strategy development: determination of short-term and long-term plans for the fund's activities.

 

Company registration services / company registration Ukraine - By following these steps, you will be able to create a charitable foundation that will meet all the requirements of Ukrainian legislation and effectively fulfill its mission.

 

Choosing a name for a charitable foundation is an important step, because the name should reflect the purpose and mission of the organization, be memorable and unique. Here are some tips to help you choose a name for your charitable foundation:

 

  1. Tips for choosing a name.

    1. Reflecting the mission and goals
    • The name should clearly reflect the main purpose and goals of the fund.
    • For example, if the foundation works to help children, this can be reflected in the name.
    2. Simplicity and memorability
    • Choose a short and simple name that is easy to pronounce and remember.
    • Avoid complex or overly long titles.
    3. Uniqueness
    • Check whether the chosen name is used by other organizations, especially in your country.
    • Search engines or organization registries can be used to check for uniqueness.
    4. Emotional feedback
    • Choose a name that will evoke positive emotions and associations in people.
    • The title should be inspirational and motivating.
    5. Consideration of future growth
    • Make sure that the name will be relevant even if the fund expands or changes its focus.
    6. Legal aspects
    • Make sure the name complies with your country's legal requirements for charity names.
    • Do not use protected trademarks or other protected names without permission.

    Examples of names of charitable funds.

    1. "Good Hope" Foundation
    2. The Future of Children Foundation
    3. Charitable Foundation "Heart in Action"
    4. "Healthy Life" Foundation
    5. Foundation "Education for All"
    6. Chista Planeta Charitable Foundation
    7. Fund "Support of Heroes"
    8. "Light of Hope" Foundation

    Additional tips.

    • Hold discussions with the founding team or potential beneficiaries to gather ideas.
    • Ask for feedback from friends, relatives or colleagues.
    • Try conducting a small survey among your target audience to determine which title resonates most with them.

 

Company registration / company registration Ukraine - Choosing a name is a creative process that requires time and consideration. It is important that the name reflects the essence of your organization and its mission.

 

In order to create and state register a charity fund in Ukraine, it is necessary to prepare and submit a number of documents. Below are the main documents that are usually required to register a charitable foundation:

 

  1. 1. Application for state registration of a legal entity
    • Form: completed application of the prescribed form for registration of a charity fund.
    • Signature: signed by the founders or an authorized person.

    2. Constituent documents
    • Charter of a charitable foundation: a document defining the basic provisions of the foundation's activities, including the purpose, tasks, management structure, rights and obligations of the founders.
    • Minutes of the founding meeting: a document confirming the decision to create a fund by the founders. The protocol should indicate the main decisions, such as the approval of the charter, the selection of management bodies, etc.

    3. Information about the founders
    • Information about natural persons: copies of passports and identification codes of the founders (for citizens of Ukraine) or other identification documents (for foreigners).
    • Information about legal entities: an extract from the Unified State Register of Legal Entities, Individual Entrepreneurs and Public Organizations or similar documents from the country of registration (for foreign legal entities).

    4. Decision of the founders
    • Decision on the establishment of a charitable fund: a document confirming the will of the founders regarding the establishment of the fund.

    5. Information about governing bodies
    • Personal data of board members: copies of passports and identification codes of board members.
    • Contact information: the fund's address, phone numbers and e-mail.

    6. Power of attorney (if necessary)
    • Power of attorney for a representative: if the documents are submitted by an authorized person and not by the founders personally.

    7.Receipt for payment of the registration fee
    • Payment of the state duty: a document confirming the payment of the registration fee (if such a fee is provided for by law).

    8. Additional documents (if necessary)
    • Licenses and permits: if the fund plans to carry out activities that require special permits or licenses, it is necessary to provide relevant documents.

    Steps for registration.

    1. Preparation of documents: drawing up all necessary documents.
    2. Submission of documents: submission of documents to the relevant state body (Central executive body, judicial bodies or through the Central Administrative Court).
    3. Verification of documents: the state registrar verifies documents for compliance with legal requirements.
    4. Entry into the register: if all documents meet the requirements, the fund is entered into the Unified State Register of Legal Entities, Individual Entrepreneurs and Public Organizations.
    5. Obtaining an extract: obtaining an extract from the state register confirming the registration of the fund.

 

Register a company ukraine / business registration llc - It is recommended to contact a lawyer or a specialist in the registration of legal entities for detailed advice and assistance in preparing documents.

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