The Foundation

Statutes

Note: this is a template with placeholders in square brackets. It has not been adopted and is not yet the statute of an existing foundation.

Foundation Statutes

Statutes of the [Name of the Foundation]

§ 1 Name and Seat

(1) The foundation bears the name “[Name of the Foundation]”. (2) It has its seat in [Place]. (3) The foundation shall be entered in the foundation register.

§ 2 Purpose of the Foundation

(1) The purpose of the foundation is the promotion of [specific purposes, e.g. education, health, environmental protection]. (2) The foundation pursues exclusively and directly charitable purposes within the meaning of the section “Tax-privileged purposes” of the German Fiscal Code (Abgabenordnung). (3) The funds of the foundation may be used only for the purposes set out in the statutes.

§ 3 Altruism

(1) The foundation acts altruistically; it does not primarily pursue its own economic purposes. (2) The funds of the foundation may be used only for the purposes set out in the statutes.

§ 4 Foundation Assets

(1) The assets of the foundation consist of [description of the assets, e.g. funds, real estate]. (2) The substance of the foundation assets is to be preserved undiminished.

§ 5 Bodies of the Foundation

The bodies of the foundation are: (1) The Board (2) The Advisory Council (optional)

§ 6 Board

(1) The Board consists of at least [number] members. (2) The Board is appointed by the founders and remains in office until a new election. (3) The Board represents the foundation in and out of court.

§ 7 Advisory Council (optional)

(1) The Advisory Council supports the Board in its work and advises it on questions concerning the foundation's goals. (2) The members of the Advisory Council are appointed by the Board.

§ 8 Accounting

(1) The foundation must prepare annual financial statements consisting of a balance sheet and a profit and loss statement. (2) The annual financial statements must be audited by an independent auditor.

§ 9 Amendments to the Statutes

Amendments to these statutes require a majority of [e.g. two thirds] of the votes of the Board.

§ 10 Dissolution of the Foundation

(1) The foundation can be dissolved by resolution of the Board if this is necessary for important reasons. (2) In the event of the dissolution or termination of the foundation, the assets shall pass to [name a charitable organization or a purpose], which must use them directly and exclusively for charitable purposes.

§ 11 Entry into Force

These statutes enter into force upon their approval by the competent foundation authority.

§ 12 Final Provisions

(1) For all questions not regulated in these statutes, the provisions of the German Civil Code (BGB) on foundations apply. (2) These statutes were signed by the founders on [date].

Signatures of the founders:

[Name, signature]

Please note that these statutes serve as a template and should be adapted depending on specific requirements and legal framework conditions. It is advisable to seek legal advice when drafting statutes.