1. It is established for a specific public welfare purpose, and its business must conform to the scope of charitable activities stipulated in the Charity Law;

2. The original fund is not less than 2 million yuan (the nature of the original fund is donation, and it must be monetary funds received);

3. It has a standardized name, articles of association, organizational structure and full-time personnel suitable for its activities;

4. Have a fixed residence;

5. Be able to bear civil liability independently.

What foundation?

A foundation refers to a non-profit legal person established for the purpose of engaging in public welfare undertakings by using the property donated by natural persons, legal persons or other organizations in accordance with the provisions of these regulations.

Foundations are divided into those that collect public donations and those that do not. The public offering of funds is divided into national public offering funds and local public offering funds according to the geographical scope of raising. According to the Regulations on the Administration of Foundations, foundations must be registered with the civil affairs department before they can operate legally. Essentially, they are non-profit NGOs.