Setting aside tax aspects and the legal status of the founder, there is no difference between an individual and a corporate foundation or fund. Both are not for profit. Their purpose is to pursue a project in the general interest. The aim of the project can be humanitarian, educational, scientific, medical, cultural, environmental or social.
A flexible process for foundations
On average, the budget of a project over several years is close to 150,000 euros. Each founder commits to contributing the funds in one or several payments, over no more than five years.
In addition to the founders’ contributions which, together with donations, are generally the main funding sources, foundations may receive public subsidies. However, whenever possible, Fondation de France encourages financial independence with regard to these subsidies. In addition, foundations may also receive income derived from service provision and investment management.
A report is produced each year. The foundation appoints at least one statutory auditor and one or several alternate statutory auditors. It may be dissolved at the planned expiration date or following the mutually agreed withdrawal of all its founders.