Foundations are divided into those that raise funds for the public and those that are not allowed to raise funds for the public. According to the geographical scope of fundraising, public offering foundations are divided into national public offering foundations and local public offering foundations. According to the Regulations on the Administration of Foundations, foundations must be registered with the civil affairs department before they can operate legally. Essentially, foundations are non-profit organizations.
As a basic social organization and institutional form, the ostentatious foundation is different from the government, enterprises and general non-profit organizations. The basic characteristics of foundations are public welfare, non-profit, non-government and fund trust.
To establish a foundation, the following conditions must be met:
(1) Established for a specific public welfare purpose;
(2) The original fund of the national public offering foundation is not less than 8 million yuan, the original fund of the local public offering foundation is not less than 4 million yuan, and the original fund of the non-public offering foundation is not less than 2 million yuan; The original funds must be the money received;
(3) Having a standardized name, articles of association, organizational structure and full-time personnel suitable for its activities;
(4) Having a fixed residence;
(5) Being able to bear civil liability independently.