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Endowment Contract

Endowment Contract Template for Germany

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Key Requirements PROMPT example:

Endowment Contract

"I need an Endowment Contract for establishing a charitable foundation in Berlin, focused on providing educational grants to underprivileged students, with an initial endowment of €5 million to be transferred by March 2025."

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Document background
The Endowment Contract is a crucial legal instrument used in Germany to establish and structure foundations (Stiftungen). This document is essential when individuals or organizations wish to dedicate assets permanently to specific purposes, whether charitable, private, or corporate. It must comply with the German Civil Code (BGB) and relevant state foundation laws, requiring official recognition from state authorities. The contract details the foundation's purpose, initial endowment, organizational structure, and governance rules. It's particularly important for wealth planning, charitable giving, and creating lasting institutional structures. The document typically requires notarization and may need pre-approval from tax authorities if charitable status is sought. Once established, the Endowment Contract serves as the foundation's constitutional document and can only be modified under specific circumstances defined by law.
Suggested Sections

1. Parties: Identification of the founder(s) (Stifter) and initial foundation bodies

2. Background: Context and motivation for establishing the foundation

3. Definitions: Key terms used throughout the document

4. Name, Registered Office, and Legal Form: Official designation, location, and legal classification of the foundation

5. Purpose of the Foundation: Detailed description of the foundation's objectives and intended beneficiaries

6. Initial Foundation Assets: Description and valuation of the initial endowment assets

7. Organization and Management: Structure and responsibilities of foundation bodies (Board of Directors, Advisory Board, etc.)

8. Asset Management Principles: Guidelines for managing and preserving the foundation's assets

9. Use of Funds: Rules for distributing foundation funds and fulfilling the foundation's purpose

10. Accounting and Reporting: Requirements for financial documentation and reporting to authorities

11. Amendment Provisions: Procedures for modifying the foundation's statute

12. Dissolution Provisions: Conditions and procedures for foundation dissolution and asset distribution

Optional Sections

1. Tax Provisions: Specific provisions for maintaining charitable status - required for charitable foundations

2. Scientific Advisory Board: For foundations with scientific or research purposes

3. International Activities: Required for foundations operating across borders

4. Conflict Resolution: Detailed procedures for resolving internal disputes - recommended for larger foundations

5. Founder's Rights: Special rights reserved for the founder(s) during their lifetime

6. Business Operations: Required for foundations engaging in commercial activities

Suggested Schedules

1. Schedule 1: Initial Asset Inventory: Detailed list and valuation of all initial foundation assets

2. Schedule 2: Management Rules: Detailed procedures for foundation management and decision-making

3. Schedule 3: Investment Guidelines: Specific rules and limitations for asset investment

4. Schedule 4: Distribution Policy: Detailed criteria and procedures for fund distribution

5. Schedule 5: Compliance Guidelines: Procedures for ensuring regulatory compliance

6. Appendix A: Founder's Declaration: Formal declaration of intention to establish the foundation

7. Appendix B: Tax Office Pre-Approval: For charitable foundations, preliminary approval from tax authorities

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Foundation
Founder
Foundation Assets
Initial Endowment
Foundation Bodies
Board of Directors
Advisory Board
Foundation Purpose
Foundation Capital
Foundation Income
Beneficiaries
Foundation Statute
Foundation Authority
Charitable Purpose
Foundation Registry
Fiscal Year
Distribution Policy
Investment Guidelines
Foundation Act
Asset Management
Supervisory Authority
Foundation Office
Permitted Activities
Material Change
Dissolution Event
Annual Report
Foundation Seal
Governing Law
Foundation Documents
Conflict of Interest
Clauses
Foundation Establishment
Foundation Purpose
Initial Assets
Asset Management
Governance Structure
Board Powers and Duties
Decision Making
Fund Distribution
Investment Rules
Compliance
Reporting Requirements
Conflict of Interest
Amendment Procedures
Dissolution
Tax Status
Liability
Succession Planning
Regulatory Compliance
Asset Protection
Beneficiary Rights
Founder's Rights
Accounting and Audit
Dispute Resolution
Confidentiality
Data Protection
Document Retention
Communications
Severability
Governing Law
Foundation Register
Relevant Industries

Non-Profit & Charitable Organizations

Wealth Management

Education

Healthcare

Cultural Heritage

Scientific Research

Environmental Protection

Social Services

Private Banking

Family Offices

Religious Organizations

Arts & Culture

Relevant Teams

Legal

Tax Advisory

Wealth Management

Compliance

Finance

Philanthropy Advisory

Investment Management

Grant Administration

Corporate Governance

Risk Management

Relevant Roles

Foundation Director

Legal Counsel

Tax Advisor

Wealth Manager

Philanthropic Advisor

Compliance Officer

Trust Officer

Board Member

Foundation Manager

Charitable Giving Specialist

Estate Planner

Non-Profit Executive

Investment Manager

Grant Manager

Industries
German Civil Code (Bürgerliches Gesetzbuch - BGB) §§ 80-88: Core legislation governing the establishment and operation of foundations, including requirements for formation, recognition, and basic structural elements
Foundation Law of the respective German Federal State (Landesstiftungsgesetz): State-specific regulations for foundations, including supervision requirements and reporting obligations
German Fiscal Code (Abgabenordnung - AO) §§ 51-68: Tax regulations for charitable foundations, including requirements for tax-privileged status and permitted activities
Money Laundering Act (Geldwäschegesetz - GwG): Regulations regarding the verification of donors and prevention of money laundering in significant financial transactions
German Commercial Code (Handelsgesetzbuch - HGB): Relevant for foundations engaging in commercial activities, including accounting and reporting requirements
General Data Protection Regulation (GDPR) and German Federal Data Protection Act (BDSG): Regulations governing the handling of personal data of donors, beneficiaries, and other stakeholders
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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