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.
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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
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
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
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