LEGAL REGULATION OF CHARITABLE FOUNDATIONS AS NON-PROFIT ORGANIZATIONS IN UKRAINE

Abstract

One type of charitable organization is a charitable foundation, which has members and is managed by members who have their own assets to achieve the goals of the charity. Accordingly, charity can be based on both volunteer and professional activities of philanthropists and charitable foundations, which is focused on helping and improving the social standards of individual segments or individuals of society. In general, a charitable foundation is an organization that is created for the purpose of helping those who need it without waiting for reward. Charitable foundations are legal entities that operate on the basis of a charter, have participants and are controlled by them. A fund may have one or several founders. Any use of funds by the foundation has a legal basis and is confirmed by the relevant document. Ukrainian legislation defines the following types of charitable activities: holding charity auctions, competitions, non-monetary donations, and other events that are not prohibited by law; public collection of charitable donations; charitable joint activities and implementation of contracts (agreements) on charitable activities; free transfer to beneficiaries of the right to use and other material rights to property and property rights, etc. The founders of charitable foundations can be legally capable individuals and legal entities, except for state authorities, local governments, and other legal entities of public law. The founders of a charitable foundation or persons authorized by them make a decision on the creation of such an organization, approve their constituent documents, the composition of management bodies, and make decisions related to the formation and state registration of a charitable organization.