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Foundation council

The Voard of Founders is the supreme organ of the Foundation management, formed after the establishment and state registration of the Foundation and consists of officials appointed by the founder according to determinate order. The Board of Founders may consist of 3 to 12 people.

In the Board of Founders' jurisdiction are the following questions:

  • reviewing and adding the Foundation's statute;
  • defining the Foundation's priorities;
  • adopting the Foundation's annual budget, modificating, approving the annual report and balance sheet of the Foundation;
  • approving the Board of Trustees;
  • establishing branch offices and opening Foundation's representative offices;
  • establishing new institutions, economic societies, participating in other organizations, appointing agencies and management companies' heads of office;

The major Board’s functioning type is the meeting. The Board of Founders' meeting decides on matters assigned to the Board of Founders only if the meeting is attended by at least 2 / 3 of founders.

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