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It simply means the foundation is funded from a third party source, e.g. an investment
What does fully funded trust mean - Q&A - Avvo
https://www.avvo.com › Legal Advice › Wills and estates › Advice
It means that all assets (that are not covered by other means to transfer such as JTRS) are transferred or otherwise assigned to the trust. If the trust is not ...
3rd Party Funded Trust | Life Enrichment Trust
The Third Party Funded Trust is a trust which is created and funded by someone other than the individual with a disability, such as a parent, grandparent, ...
FAQ on Self-Funded Trusts - Froemming Law Office
A self-funded trust is a trust that contains property that belonged to the beneficiary before the trust was created. In other words, the beneficiary is also the grantor.
Frequently Asked Questions on What is a Trust - Anderson Law Group
The married couple will each re-title their property into the name of their trust, which creates a funded trust. Re-titling is performed in different fashions for ...
Estate planner: Importance of funding your trust
31 Oct 2016 - A funded trust saves time and money.
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If the answer to any of these questions is yes, a Self-funded Trust is a smart healthcare solution for your business: Do you wonder if there is an alternative to ...
Examining the Dangers of an Unfunded Trust: A Case Study - Borchers
24 Oct 2017 - ... through this frustrating process and pay thousands more between court charges, costs and fees than he would have with a fully funded trust.
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fondation de flux
I think I would leave it in French in italics and provide a short explanation in brackets. We don't seem to have the same kind of distinctions between foundations that the French do. I think we would just say a "private funded foundation," but I don't think that captures the fact that this is one of a few distinct categories of foundations.
Here are some references that explain the differences:
Une fondation de flux (sans dotation initiale, alimentée chaque année) peut être créée à partir d’un minimum de 60 000 € apportés sur trois ans.
Une fondation à capital consomptible (capital consommé sur une durée déterminée) est possible à partir de 150 000 € de dotation.
Une fondation pérenne (d’une durée de 30 ans) dont les fonds sont capitalisés se construit à partir d’un apport de 1.000.000 € environ.
| Dareth Pray|
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|Thanks, I went with this suggestion in the end. It was explained in the text that the funds were received in instalments over a period of time, just needed something snappy for the actual term. But as pointed out, there is no direct translation. |
En France, la différence entre « fondation de flux » et fondation « classique » semble tenir au mode de versement du capital initial; alors que la dotation initiale est versée en totalité à la création de la fondation classique :
...une fondation de flux [permet] aux fondateurs de ne pas verser la dotation initiale en totalité mais de l'apporter en plusieurs versements réguliers garantis par une caution bancaire (la dotation peut être apportée sur 10 ans)
Ces règles n’ont rien à voir avec les règles américaines, qui s'intéressent plutôt aux sources de financement et aux distributions effectuées par la fondation :
Bref, aux États-Unis :
All §501(c)(3) organizations are presumed to be private foundations unless they can demonstrate to the IRS that they are a public charity.
Public charities are entities that are organized exclusively for charitable purposes and are exempt from federal income tax. A charitable organization may qualify as a public charity if it receives enough financial support from a broad base of donors to satisfy an IRS “public support” test. The most common public support test is satisfied if an organization receives at least one third of its annual support from the general public. This shows the IRS that the organization relies on on-going fundraising efforts to support its charitable work.
A private foundation, on the other hand, is a tax exempt §501(c)(3) charitable organization that does not qualify as a public charity under the public support test. Instead, private foundations are created and controlled by a small number of people - often an individual, family, or a business. The activities of private foundations are focused on making charitable grants, or in some circumstances, operating their own charitable programs. These activities are typically funded from investment assets rather than fundraising Private foundations are organized as either charitable trusts or corporations under state law, but receive their taxexempt status from the IRS.
Création soumise à autorisation
Dotation minimum :
• 762 245 € pour les fondations reconnues d’utilité publique (possibilité de constituer le capital sur 10 ans : fondation de flux ou à capital consomptible)
• 150 000 € pour les fondations d’entreprises (possibilité de constituer le capital sur 5 ans : fondation de flux)
Création non soumise à autorisation...
Note added at 1 day 13 hrs (2018-06-19 22:18:30 GMT)
French law recognizes two primary legal forms of not-for-profit, non-governmental organizations: associations and foundations… French law also recognizes three primary forms of foundations: (1) public utility foundations, (2) sheltered foundations, and (3) corporate foundations. Five other forms of foundations also exist (…)
“a foundation is the deed by which one or several persons decide to assign irrevocably some goods, rights, or resources to the fulfilment of a public interest and not-for-profit purpose.” (…) Foundations must have their own patrimony. (…) Since all foundations must serve a public benefit purpose, private interest foundations are not permitted.
In addition (…) an endowment fund is a kind of NPO that receives and manages assets, and directly or indirectly pursues a mission of general interest.
1. Public Utility Foundations (Fondations reconnues d’utilité publique)
One or more persons or legal entities may create a public utility foundation. Foreigners may also create a public utility foundation; their legal capacity to do so depends on the domestic law of their country of origin, rather than French law.
French law requires a public utility foundation to have an endowment sufficient to fulfil its purpose. (…) This endowment may be created by a donation or legacy, and contributions to the endowment may be made in installments (…)
2. Sheltered Foundations (Fondations abritées or sous égide)
A sheltered foundation is a foundation that operates under the aegis of a public utility foundation. Also referred to as a “non-autonomous” foundation, sheltered foundations do not have their own legal status; instead they are hosted by another institution. Sheltered foundations have the advantage of being exempt from minimum endowment requirements and annual funding commitments that are required by law. Sheltered foundations, however, have to depend on their host institution to manage their assets. (…)
3. Corporate Foundations (Fondations d’entreprise)
Commercial entities, including public or private companies (…) may establish a corporate foundation (…) The charter for a corporate foundation must contain a multi-year action program designed to achieve a public benefit purpose, and the founders must contribute to the endowment in installments that correspond with the program (“plan d’action pluriannuel”). (…) Employees of the founding commercial entity are the only eligible donors to a corporate foundation (…)
9. Endowment funds (fonds de dotation)
The endowment fund (…) must receive a minimum cash contribution of €15,000 when they are created.
An endowment fund is a not-for-profit legal entity that receives and manages assets and rights of any kind that are contributed to it freely and irrevocably. The endowment fund directly pursues a mission of general interest, or finances structures that have missions of general interest, and it can have a fixed or indefinite term. An endowment fund can be created as easily as an association. (…)
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