When considering establishing a foundation, a crucial step is determining who will comprise the foundation's board. Will you insist on handling the board roles yourself or involve others? Let's delve deeper into the various roles within a foundation board.

When founding a foundation, forming a board is necessary. This board makes decisions for the foundation and endeavors to pursue its goals. Within this board, various roles need to be fulfilled: chairperson, secretary, and treasurer. Essentially, you can choose to fulfill all these roles yourself unless you aim to qualify for ANBI status. In that case, the board must consist of at least three different individuals.

Role 1: The Chairperson

As the chairperson, you're often the primary point of contact for the foundation. You represent the foundation externally. During board meetings, you lead discussions and steer conversations. Additionally, you coordinate the activities of other board members, overseeing the foundation and assuming a leadership role. The chairperson serves as the face of the foundation at official events.

Role 2: The Secretary

The secretary's responsibility involves drafting documents on behalf of the foundation. Writing and handling correspondence fall under their purview. During foundation meetings, the secretary takes minutes and ensures clear documentation. The role focuses more on administrative duties and less on external representation.

Role 3: The Treasurer

The treasurer manages the foundation's finances. Responsibilities include financial administration and drafting the annual financial report. Apart from maintaining the accounts, the treasurer must keep the rest of the board informed about the foundation's financial status.

Fulfilling these various roles within a foundation board is crucial for smooth operations and meeting legal requirements. It's important to carefully consider who assumes which role and whether external expertise is necessary for effective board functioning.

Conclusion

Share Council is prepared to assist your company in establishing a STAK, which is a mandatory requirement. In a non-committal conversation, we would like to explore with you which options best suit your company and how we can provide assistance. Reach out to us, and let's explore possibilities to advance your business together