Foundations are charitable entities founded by a person or union of people and operated by the funds set up for their management. The registration of a foundation into the register of associations and foundations must be done by the true beneficiaries who can all or a part of them form the management board. A foundation in existence can decide to make certain changes to some details it deems fit such as its registered address, business name, beneficial owners, etc. In the event of changing the purpose of foundations as stated in the Statute, the principle of the Act has to be revised to make this change. Therefore, this registration is only allowed processed after the board of members agrees on the decision to make the change. Normally, except in certain cases, the registration process takes seven days to reflect the change in the register. 

If you are part of a foundation thinking of changing its purpose or you are interested in knowing more about how changes are made to foundations, this guide provides detailed information on change of the purpose of a foundation and the steps to do it. 

Steps to change the purpose of foundations

The process of registering a change of purpose is similar to that of an association. There are five easy steps a foundation must follow namely:

• Convey a meeting of its management board
• Prepare its articles of association
• Fill out the application form
• Pay the state fee
• Submit all requested documents

Convey a meeting of its Management Board

This is the time to bring up and finalize the decision to amend the purpose of the foundation, as per the rights and duties of members stated in the Statute. The minutes of the meeting should be signed by the conveyor and certified by the members. The extract to be submitted should entail the following:

Name and registration number of the foundation

• Name of the meeting conveyor
• Time, location, and date of the meeting
• Number of board members and attendees 
• Purpose of the meeting and decision agreed on, et cetera.

Prepare its articles of association

This document entails the principles of the activities of entities and the rights and obligations of the board. In the case of changing the purpose of the organization, the change must be indicated in the articles of association. The Statute must be signed by all the members present at the meeting the decision was made to show their consent.

Fill out the application form

After making the decision, the next step is to obtain and fill out the application form with the Enterprise Register. The form to fill in Form B3; is usually used to apply for a change of purpose of an organization. Once it is duly filled, it should be signed by board members and then submitted attached with the necessary documents. 

Pay the state fee

Aside from the state fee, registering a change has no other charge. The state fee is a fee applicants pay before their applications are processed. The payment must be made two days before submitting the form and documents as proof of payment must be attached to the application. Applicants can pay at any bank located in the country in person or via any online means. The fee is EUR 5, 69 and should be paid to the treasury account.

Submitting the form and all requested documents

The last step of the process is submitting the form and other requested documents. After the payment of the state fee is verified, the Register shall enter the change into the appropriate register and issue a certificate. Documents to be submitted include:

• Application form B3
• Revised articles of association
• Report of its meeting
• A receipt or online printout of the payment of the state fee