With January 01, 2023, the Directorate of Legal and Administrative Information (Prime Minister) obliges companies to establish a corporate foundation. With the advent of this new law, faced with this new challenge, it is important to better understand the notion of patronage and the concepts related to this initiative in order to understand and learn how companies can support works that are useful to the community. This text therefore aims to provide detailed information on the corporate foundation so that each company can confidently commit to being intangible and transparent. It is now possible thanks to service-public.fr to manage your personal space in order to receive and consult alerts by email in the event of a change concerning your Corporate Foundation. Come and discover with us how to adopt the right modus operandi to best combine civic engagement and the fight against precariousness.
Definition and objectives of a corporate foundation
A corporate foundation is a non-profit legal entity which is created by one or more companies to carry out works aimed at the general interest. It is mainly used to encourage social investment, promote culture or participate in sustainable development efforts.
What is a corporate foundation?
A corporate foundation is an independent legal entity constituted as a trust or association whose activities have a positive impact on social and environmental well-being. Its ultimate objective is to enable the organization that initiated its creation to contribute positively to local, regional and global development.
What are the objectives of a corporate foundation?
The objectives of a corporate foundation focus on the following themes: promoting higher education, supporting cultural initiatives, encouraging economic development, helping families in difficulty, supporting scientific research and environmental protection.
How to create a corporate foundation?
The process of creating a foundation begins with contacting a specialized lawyer who knows all the legal aspects related to trusts and associations. A document must be signed to formalize this process.
Steps to Create a Business Foundation
- Drafting of the mandate:, which generally includes the determination of the intended goals (objectives) of the foundation;
- Create the statute and adopt internal regulations:, so that your organization can thrive for a long time and be compliant;
- Promoting public service:
After studying the concept of a business foundation, it is obvious that this is a decision to be made with care. The foundation of a company is often faced with difficulties or particular circumstances and it can be the solution to get out of it. However, it is important to fully understand what this approach entails and the legal consequences it entails before embarking on it. Thanks to this guide, you now have the information you need to carry out your business foundation projects with complete peace of mind.
