"Regulations on the Administration of Foundations" Article 36 Foundations and representative offices of overseas foundations shall submit the work report of the previous year to the registration authority before March 3 1 every year for annual inspection. The annual work report shall be submitted to the registration authority after examination and approval by the competent business unit.
The annual work report shall include: financial accounting report, CPA audit report, fund-raising, accepting donations, providing financial assistance and other activities, as well as changes in personnel and institutions.
Extended data:
Functions of the Foundation:
First, social welfare that can be used on a large scale is gathered in a voluntary way. According to incomplete statistics, by the end of the 20th century, the total fund assets in the United States were $480 billion, and the annual funds provided to the society reached $30 billion, with a total of 56,000 foundations. According to incomplete statistics, there are as many as 654.38 million funds in European countries, and there are also a large number of funds in developing countries in China.
Second, the purpose of the foundation is to serve the future of all mankind. In order to realize the dream of a better society, the foundation needs to think about itself and realize an innovation in its own development.
Third, the foundation is an institutional model with legal person as the main body, and the funds it can raise are higher than those of other non-profit organizations, which makes the modern foundation have the ability of sustainable development to adapt to the new social needs and changes of the times.
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