Do you have the initiative to open a foundation in Argentina? These ventures that tend to support different social groups and various causes promote solidarity, health, education, development, among many other objectives.
Within the steps to open a foundation two fundamental aspects can be distinguished. On the one hand, the first bases, this constitutes your object of common good, your team with which you will carry it out, economic planning and other fundamental aspects. On the other hand, there are the legal aspects, which correspond to the documentation that you must present to obtain the authorization and the construction of the organization.
Steps
Part 1 of 2: Make First Grounds
Step 1. Decide on your object of common good
You should choose an object that is clear and you can delineate easily. Research what topic you want to focus on, such as education, health, development, housing, welfare, animals in danger of extinction or vulnerable situation, or the topic you want to address.
- Find out about other foundations with which you can share your object of common good, see what they do and how you can innovate so that they achieve the best possible result. For example, if your interests are on health-related topics, it will be important for you to know the Favaloro Foundation and the Garrahan Foundation.
- Or if you are interested in helping animals, you should know about foundations such as the Friends of the Animals Foundation, or the Stray Animals Foundation. By acquiring more information and knowledge, you can select a certain object and achieve your goal successfully.
Step 2. Organize with whom you will carry out the foundation
Find and gather a group of people you trust who aspire to achieve the same goal. [Image: Do a Criminal Background Check Step 4 Version 2-j.webp" />
Keep in mind that you will be the founding members, so you will be responsible for the obligations contracted and will make the decisions about the members of the Board of Directors
Step 3. Define how the foundation will be financially supported
It is important that you organize how you plan to financially support your nonprofit organization. You need to make a first evaluation of the circumstances where you can calculate the necessary amount of money to start. Remember to do good planning by evaluating as many factors as possible.
- Once you have defined how much the initial capital should be, if you have the money, you can finance it yourself with what is legally known as a donation promise. Where you agree to contribute the initial capital of the foundation.
- While if you do not have enough capital, you should look for someone to finance your project, a sponsor. Many companies donate money to different foundations, so you will have to publicize your idea and convince future sponsors to collaborate with your venture.
Step 4. Remember that to open the foundation you must have a legal address
That's where anyone who wants to send you something or get in touch will do it. Consider installing yourself in an office or comfortable place to work as the headquarters of the foundation. To choose the place, first evaluate what you will need it for.
For example, if you have to store objects that you will later have to transport, you probably need a large place. But if instead you can manage in an office, you will not need such a large place. In turn, this will depend on the income you have, the number of people working and the things you need to carry out your goal
Step 5. Form the Board of Directors
Every foundation needs to have its authorities. Council members may serve for a limited time or permanently. It will hold ordinary and extraordinary meetings where decisions will be made if it has an absolute majority of the votes present.
Warning: the minimum number of board members is 3 people, as provided in Article 13 of Law 19836
Step 6. Make sure you have the means to keep the foundation's documentation and accounting up to date, for when you need to present it to the authorities
First you have to set the closing date of the annual exercise. And then, you must have the inventories, balances and the income statement in the form that the administrative authority regulates.
Part 2 of 2: Get the legal stuff done
Step 1. Download the form
You can download it from the page of: General Ministry of Justice Human Rights. The authorization can be made at the headquarters of the General Inspection of Justice, Paseo Colón 285 PB, Autonomous City of Buenos Aires.
Step 2. Complete the Authorization form
This public instrument can be issued or authorized by a public official who attests to its content, or private who is certified by a notary public. Must contain:
- The name and address of the foundation; the precise designation of the object; the initial equity, expressed in Argentine currency; the term of duration; how the board of directors will be made up, specifying the duration of the positions, the meeting regime and the procedures for the appointment of new members; the closing date of the annual fiscal year;
- Include information for the individual, if applicable. You will have to add: your name, your age, marital status, nationality, profession, address and identity document number.
- Include the information for the legal entity, if applicable. It must include the business name, address and proof of the existence of the company provided by the Public Registry of Commerce.
Step 3. You must make the initial contribution
You have to deposit the money during the authorization process in the official bank that corresponds to the jurisdiction in which the foundation is constituted. If within the contributions that you will make there will be any non-monetary contribution, this must be included in an inventory together with their respective valuations, endorsed by a public accountant.
Step 4. Attach the action plans with the application
In these plans, you must capture the foundation's projects for the first three years, indicating the characteristics and development of the activities necessary to achieve the objective. Also including the budgetary bases for the realization.
Advice
- In Argentina there are great examples of foundations: the Bunge y Born Foundation that seeks to promote scientific research through grants and scholarships. The ALMA Foundation with the famous mobile hospital that runs through northern Argentine provinces assisting families in need. The Fundación Cruzada Argentina that works with rural communities and helps them achieve sustainable development. And a host of other foundations with different goals.
- Not many years ago FEDEFA emerged, which is the Federation of Argentine Foundations that seeks to establish fluid contact with foundations, associations, NGOs in Argentina and other countries in order to help achieve common objectives.
- Foundations are legal persons, that is, a subject of rights and obligations that can be created by at least one person, which are constituted without profit for the purpose of common good. They seek to make their ends possible through the patrimonial contribution of one or more people.