Stiftung für das Museum Folkwang

Trust Foundation

The Stiftung für das Museum Folkwang can act as trustee for legally independent, non-profit foundations whose purpose is the support of art and culture, especially through the support of the Museum Folkwang.

A non-profit trust foundation – also known as dependent or fiduciary foundation – offers the donor a rapid and administratively uncomplicated possibility of creating his or her own foundation so that the foundation will already be associated with the donor’s name during his or her lifetime.
A trust foundation can be set up in a relatively short time. For the state, only the responsible tax office is involved, long bureaucratic application processes are unnecessary.

Organization and administration of a fiduciary foundation is in the hands of the trustee, that is the Stiftung für das Museum Folkwang.

As with an independent foundation, initial funding and endowments are permanent assets; only the yields from the assets are used for the purposes established in the foundation’s statutes.
Apart from monetary contributions, other assets such as limited liability company shares, real estate, securities or works of art may be contributed.
The legal form of the trust foundation is generally the best method for an endower who wishes to dedicate his assets to a purpose permanently without having to create a structure necessary to administer foundations with legal capacity.

Ägypten
Stabträger-Statue Ramses’ II. (Fragment), 1279–1213 v. Chr.
Museum Folkwang
© Museum Folkwang, Foto: Hans Hansen

Ozeanien
Malagan-Figur, um 1912
Museum Folkwang
© Museum Folkwang, Foto: Hans Hansen

 
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