● Established for specific public welfare purposes;
● The original fund of the national public offering foundation is not less than 8 million yuan, the original fund of the local public offering foundation is not less than 4 million yuan, and the original fund of the non-public offering foundation is not less than 2 million yuan; The original funds must be the money received;
● It has a standardized name, articles of association, organization and full-time personnel suitable for its activities;
● Have a fixed residence;
● Be able to bear civil liability independently.
To apply for the establishment of a foundation, the applicant shall submit the following documents to the registration authority:
● Application;
● Draft articles of association;
● capital verification certificate and residence certificate;
● List of directors, identity certificates and resumes of the proposed chairman, vice-chairman and secretary-general;
● Documents approved by the competent business unit.
The articles of association of the foundation must specify the public welfare nature of the foundation, and shall not specify the contents that will benefit specific natural persons, legal persons or other organizations. The articles of association of the foundation shall specify the following items:
● Name and domicile;
● Establish the purpose and business scope of public welfare activities;
● Original fund amount;
● Composition, powers and rules of procedure of the Council, qualifications, procedures and term of office of directors;
● Responsibilities of the legal representative;
● Duties, qualifications, production procedures and term of office of supervisors;
● Preparation and review system of financial and accounting reports;
● Property management and use system;
● Conditions and procedures for the termination of the foundation and the disposal of the property after termination.
The registration authority shall, within 60 days from the date of receiving all valid documents listed in Article 9 of these Regulations, make a decision on whether to approve or disapprove the registration. If the registration is approved, it shall be issued with the Certificate of Registration of Foundation as a Legal Person; If the registration is not granted, the reasons shall be explained in writing. The contents of foundation establishment registration include: name, domicile, type, purpose, business scope of public welfare activities, original fund amount and legal representative. (Excerpted from the Regulations on the Administration of Foundations, which came into effect on June 1 2004)
General structure of non-public offering foundation
The overall structure of the foundation consists of the board of directors, the board of supervisors and general institutions.
The foundation has a board of directors consisting of 5 to 25 directors. The term of office of directors shall be stipulated in the articles of association, but each term shall not exceed 5 years. Upon expiration of the term of office, directors may be re-elected. For a private fundraising foundation established with private property, the total number of directors of the foundation who have close relatives with each other shall not exceed one third of the total number of directors; Other foundations with close relatives may not serve on the board of directors at the same time. Directors who receive remuneration from the foundation shall not exceed one third of the total number of directors. The board of directors shall have a chairman, a vice-chairman and a secretary-general, elected from among the directors. The chairman is the legal representative of the foundation. The board of directors is the decision-making body of the foundation and exercises its functions and powers as stipulated in the articles of association according to law. The Council shall meet at least twice a year. The board meeting can only be held when more than two thirds of the directors are present; The resolution of the board of directors shall be valid only if it is approved by more than half of the directors present. Minutes of meetings of the board of directors shall be made, which shall be reviewed and signed by the directors present.
The foundation shall have supervisors. The term of office of a supervisor is the same as that of a director. Directors of the foundation, their close relatives and accountants may not concurrently serve as supervisors. The supervisor shall check the financial and accounting information of the Foundation in accordance with the procedures stipulated in the Articles of Association, and supervise the compliance of the Board of Directors with laws and articles of association. The supervisor has the right to raise questions and suggestions to the board of directors, and report the situation to the registration authority, the competent business unit and the competent tax and accounting departments. (Excerpted from the Regulations on the Administration of Foundations, which came into effect on June 1 2004)
General institutions mainly include investment management departments and project examination and approval departments. The following is an example of the organizational structure of a non-public offering foundation.
About non-public offering foundation
Development of domestic non-public offering foundations
From July 28th 198 1, the first public welfare foundation in China, China Children and Teenagers Foundation, was established. Our foundation has gone through nearly 30 years of development. Most of the foundations in China are public foundations, and the development of non-public foundations started late. The beginning of the history of non-public offering foundations, to be precise, should start from the date of the promulgation of the Regulations on the Management of Foundations in 2004. With the promulgation of the new Regulations, foundations are divided into public foundations and non-public foundations for the first time, which is a pioneering work in the world. With the lowering of the threshold for setting up non-public offering foundations, the objective result is to encourage private forces to actively participate in setting up non-public offering foundations. With the national "00 1" non-public offering fund-Xiangjiang >>
Question 2: The difference between Public Offering of Fund and non-Public Offering of Fund. Public Offering of Fund is a securities investment fund that is supervised by the competent department of * * and publicly issued to unspecified investors. Under the strict supervision of the law, these funds have industry norms such as information disclosure, profit distribution and operation restrictions. Its characteristics are: 1) many investors as the issue target; (2) Great fund-raising potential; (3) A wide range of investors (investors without specific objects); (4) You can apply for listing on the exchange. At present, Public Offering of Fund is the most transparent and standardized fund. Public Offering of Fund has strict regulations on the qualifications of fund management companies and fund asset custodians, which are strictly supervised by the regulatory authorities. Therefore, Public Offering of Fund's assets are safer and more easily accepted by ordinary people.
Compared with Public Offering of Fund, private equity funds have the following advantages: (1) Because private equity funds face a few specific investors, their investment objectives may be more targeted, and they can provide tailor-made investment service products according to the special needs of customers; (2) Generally speaking, private equity funds need fewer procedures and documents and are subject to fewer restrictions. The requirements of general laws and regulations are not as strict and detailed as those in Public Offering of Fund, and the investment is more flexible; (3) In terms of information disclosure, private equity funds don't need to disclose details regularly like Public Offering of Fund. Private placement is a kind of * * * investment, which is a kind of non-public propaganda to raise funds privately from specific investors. Private equity fund investors can negotiate with fund sponsors to determine the investment direction and objectives of the fund, which has the nature of agreement. Fund sponsors unilaterally decide related matters, and investors passively accept them. Its sale and redemption are carried out by the fund manager through private consultation with investors. (4) The entry threshold for private equity funds is relatively high, much higher than 1 10,000 yuan in Public Offering of Fund, and it is a place for rich people to play.
There is a private equity fund called Sunshine Private Equity Fund, which is issued by a trust company and filed by the regulatory authorities. It mainly invests in the secondary securities market, and the funds are managed by a third-party bank, and its performance reports are published regularly. The difference between Sunshine Private Equity Fund and ordinary (so-called "grey") private equity funds is mainly standardization and transparency, because issuing through trust company platform can ensure the safety of private equity subscribers' funds. Sunshine private equity funds generally only refer to private equity funds issued in an "open" way. The so-called openness means that fund subscribers need to bear all investment risks and enjoy most of the investment income.
Question 3: What are the rules for the formal registration of non-public offering foundations?
Formal qualified manager
Question 4: What are the official registrations of non-public offering funds?
Formal qualified manager
Question 5: The difference between public foundations and non-public foundations. Foundations are divided into public funds and non-public funds, and classified management is implemented. The difference between them lies in the source of funds: Public Offering of Fund can raise funds from the public; The funds of non-public offering foundations come from donations from specific individuals or organizations, and no funds may be raised from the public.
The existing foundations in China are mainly public offering foundations, that is, foundations that widely raise funds for the society and the people. In the development history of foreign foundations, a large number of individuals and enterprises donated money to set up in their own names.
Foundation. This kind of foundation is a non-public offering foundation and an important type of foundation. Because of its rich and stable sources of funds, the operation is related to the reputation of donors, and such foundations often operate well.
Public welfare has contributed a lot.
The Regulations classify foundations and explicitly allow the establishment of non-public offering foundations. It can achieve two purposes: on the one hand, strictly manage fund-raising activities for the public.
Move, maintain the order of fundraising, control the competition in the fundraising market, reduce the burden on the public, and maintain social stability; On the other hand, the policy should be liberalized to allow wealthy individuals and enterprises to set up non-public offering foundations, so as to be more independent.
Realize the willingness to donate, let them contribute to social welfare and bring good social benefits to themselves. In short, we encourage public welfare undertakings to rely more on wealthy individuals or enterprises.
Question 6: What is the difference between public foundations and non-public foundations (1)?
Public offering foundation: you can raise funds directly from the public; ? Non-public offering foundation: no direct fundraising for the public. ? (2) The geographical scope of fund-raising activities: Public offering foundations: divided into national public offering foundations and local public offering foundations. The public fundraising activities of national public fundraising foundations can be carried out nationwide, and the public fundraising activities of local public fundraising foundations can only be carried out within their registered administrative areas.
Non-public offering foundation: Because it does not raise funds for the public, there is no geographical restriction. ? (3) Registered original fund (unit: RMB):
Public offering foundation: not less than 8 million yuan nationwide and not less than 4 million yuan locally; ? Non-public offering foundation: not less than 2 million yuan. ? (4) Registration authority:? Public offering foundation: the national public offering foundation is registered in the Civil Affairs Bureau of the Ministry of Civil Affairs; Local public offering foundations shall be registered by the civil affairs departments of provinces, autonomous regions and municipalities directly under the Central Government.
Non-public offering foundations: all provinces, autonomous regions, municipalities directly under the Central Government and the civil affairs departments at or above can register. (However, if the original capital exceeds 20 million yuan and the promoters apply to the Civil Affairs Bureau for establishment, they can register with the Civil Affairs Bureau)? (5) Name:
The name of the foundation shall reflect the business scope of public welfare activities.
The name of the foundation shall include the font size, the business scope of public welfare activities in turn, and end with the word "foundation". ? No font size shall be used in the name of a public offering foundation.
② National public offering foundations shall use the words "China", "China", "National" and "National" in their names. Non-public offering foundations shall not use the above words. ? Local public offering foundations and non-public offering foundations registered by the civil affairs departments of provinces, autonomous regions and municipalities directly under the Central Government shall be given the names of administrative divisions at or above the county level. With the names of administrative divisions below the provincial level, the names of provinces, autonomous regions and municipalities directly under the central government can be used at the same time. If it is crowned with the name of the municipal district, it should also be crowned with the name of the city.
③ The name of a public offering foundation shall not be the name of a natural person, legal person or other organization. ? The name of a non-public offering foundation may be the name of a natural person, legal person or other organization, but it shall meet the following conditions:
(1) The use of the name of a natural person, the name of a legal person or other organization or the name of a shop name requires the consent of the natural person, legal person or other organization;
(two) shall not use the name of a natural person sentenced to deprivation of political rights for a crime; ? (3) Generally, the names of party and state leaders and revolutionaries of the older generation are not used. ? (6) Regarding the appointment of close relatives on the board of directors: For a private offering foundation established with private property, the total number of directors of the foundation with close relatives shall not exceed1/3 of the total number of directors; Other foundations with close relatives may not serve on the board of directors at the same time. ? (7) Legal Representative:
The legal representatives of public foundations and non-public foundations whose original funds come from Chinese mainland shall be mainland residents. ? (8) Public welfare expenditure stipulated in the articles of association each year: public offering foundation: not less than 70% of the total income of the previous year; ? Non-public offering foundation: not less than 8% of the fund balance in the previous year.
(9) Accept social supervision:
In terms of information disclosure, the obligation of public offering foundations is heavier. When organizing fund-raising activities, the public offering foundation shall announce the public welfare activities to be carried out after the fund-raising and the detailed plan for the use of funds. During the duration of fund-raising activities, the income obtained from fund-raising activities and the expenses for carrying out public welfare activities shall be announced in a timely manner. After the fund-raising activities, all the income obtained from the fund-raising activities and their uses shall be announced. Non-public fundraising foundations have relatively low requirements for information disclosure because they have no public fundraising activities.
(10) Different expenditure ratios:
According to the law, 70% of the total income of the previous year is used for the expenditure of the next year, and the personnel and office expenses do not exceed10% of the expenditure; Non-public offering means that the expenditure in the second year is not less than 8% of the balance of the previous year, and people ... >>
Question 7: There are differences between public and non-public foundations (1):
Public offering foundation: you can raise funds directly from the public;
Non-public offering foundation: no direct fundraising for the public.
(two) the geographical scope of fundraising activities:
Public offering foundations: divided into national public offering foundations and local public offering foundations. The public fundraising activities of national public fundraising foundations can be carried out nationwide, and the public fundraising activities of local public fundraising foundations can only be carried out within their registered administrative areas.
Non-public offering foundation: Because it does not raise funds for the public, there is no geographical restriction.
(3) Registered original fund (unit: RMB):
Public offering foundation: not less than 8 million yuan for the whole audience and not less than 4 million yuan for the local;
Non-public offering foundation: not less than 2 million yuan.
(4) registration authority:
Public offering foundation: the national public offering foundation is registered in the Civil Affairs Bureau of the Ministry of Civil Affairs; Local public offering foundations shall be registered by the civil affairs departments of provinces, autonomous regions and municipalities directly under the Central Government.
Non-public offering foundations: all provinces, autonomous regions, municipalities directly under the Central Government and the civil affairs departments at or above can register. (However, if the original capital exceeds 20 million yuan and the promoters apply to the Civil Affairs Bureau for establishment, they can register with the Civil Affairs Bureau. )
(5) Name:
The name of the foundation shall reflect the business scope of public welfare activities.
The name of the foundation shall include the font size, the business scope of public welfare activities in turn, and end with the word "foundation".
No font size shall be used in the name of a public offering foundation.
② National public offering foundations shall use the words "China", "China", "National" and "National" in their names. Non-public offering foundations shall not use the above words.
Local public offering foundations and non-public offering foundations registered by the civil affairs departments of provinces, autonomous regions and municipalities directly under the Central Government shall be given the names of administrative divisions at or above the county level. With the names of administrative divisions below the provincial level, the names of provinces, autonomous regions and municipalities directly under the central government can be used at the same time. If it is crowned with the name of the municipal district, it should also be crowned with the name of the city.
③ The name of a public offering foundation shall not be the name of a natural person, legal person or other organization.
The name of a non-public offering foundation may be the name of a natural person, legal person or other organization, but it shall meet the following conditions:
(1) The use of the name of a natural person, the name of a legal person or other organization or the name of a shop name requires the consent of the natural person, legal person or other organization;
(two) shall not use the name of a natural person sentenced to deprivation of political rights for a crime;
(3) Generally, the names of party and state leaders and revolutionaries of the older generation are not used.
(6) Regarding the appointment of next of kin in the Council:
For a non-public offering foundation established with private property, the total number of directors of the foundation with close relatives shall not exceed1/3 of the total number of directors; Other foundations with close relatives may not serve on the board of directors at the same time.
(7) Legal Representative:
The legal representatives of public foundations and non-public foundations whose original funds come from Chinese mainland shall be mainland residents.
(eight) the annual expenditure for public welfare undertakings as stipulated in the articles of association:
Public offering foundation: not less than 70% of the total income of the previous year;
Non-public offering foundation: not less than 8% of the fund balance in the previous year.
(9) Accept social supervision:
In terms of information disclosure, the obligation of public offering foundations is heavier. When organizing fund-raising activities, the public offering foundation shall announce the public welfare activities to be carried out after the fund-raising and the detailed plan for the use of funds. During the duration of fund-raising activities, the income obtained from fund-raising activities and the expenses for carrying out public welfare activities shall be announced in a timely manner. After the fund-raising activities, all the income obtained from the fund-raising activities and their uses shall be announced. Non-public foundations have no fundraising activities, so they are not obliged to disclose this information.
Question 8: What's the difference between Public Offering of Fund and non-Public Offering of Fund? The biggest difference between public offering and private offering lies in the first point, that is, its goals are different.
We say that Public Offering of Fund's performance benchmark is the most important, and there is also a performance benchmark. Instead of pursuing absolute returns, we pursue relative returns. If a fund manager outperforms the performance benchmark for a long time, he is a successful fund manager. Private equity pursues absolute returns, that is, the bull market makes money and the bear market does not lose money. Investors should make money whether they win or lose. This is the whole orientation of private placement and its starting point, which is different from public offering. This main difference determines the rate design of all private placements, and the operation mode, style and public offering are completely different. Last year was a volatile market. The best stock funds in Public Offering of Fund lost 35%, followed by Wang Yawei, with a loss of about 39% and an average loss of 50%. Let's look at the general loss of private equity funds, but the best accounts for 24%. (Jiang Hui) also earned 50-80%. Last year, the market was able to make a net profit, which was quite remarkable and related to his mechanism.
And private placement is a very narrow group. It's an investment of the rich, not the ordinary rich. There is basically no need to buy hundreds of thousands. At least if your financial assets are more than two or three million, you may have to match this thing. The scale and net profit are different. At present, the largest private equity fund management company has a basic scale of about 654.38+0 billion. Private placement is such a variety. From the perspective of investment, what is the difference between investing in stocks and public offering and private placement? This stock is completely managed by itself, and Public Offering of Fund is a bit like a semi-trust. I still have to do the asset allocation myself, but I bought your fund, and I don't care what stocks you invest in this fund. For example, when the market is bad, what did you do last year? You have to redeem the fund. Due to the mechanism, Public Offering of Fund is still a semi-trust concept. You have to see a big faucet yourself. When the market is good, you have to increase investment. You must improve asset allocation. Its position is still 70-80%, and you can get 90% at most. Private equity funds are different. Private equity fund is a concept of complete trust. You give him the money. As for a good market, a good private equity fund will give you 95% positions. If it is not good, it will take the initiative to lower you to zero position. This is the concept of carte blanche. Everyone should see clearly what type they belong to. Private placement is the simplest thing. We used to have customers who bought public shares and called us every three days to exchange specific results. Later, when he saw the private equity fund, he called us once a month or two because someone helped him take care of it comprehensively. The products are different, and I think this is the characteristic.
Question 9: What are the requirements for the name of the foundation? A: (1) The name of a foundation should include the font size and the business scope of public welfare activities in turn, and end with the word "foundation". The name of the public offering foundation shall not use the font size; (2) National public foundations may use the words "China", "China", "country" and "country" in their names, and non-public foundations may not use the above words; (3) Local public offering foundations and non-public offering foundations registered by the civil affairs departments of provinces, autonomous regions and municipalities directly under the Central Government shall be given the names of administrative divisions at or above the county level; With the names of administrative divisions below the provincial level, the names of provinces, autonomous regions and municipalities directly under the central government can be used at the same time; If it is crowned with the name of a municipal district, it shall also be crowned with the name of the city; (4) The name of a non-public offering foundation may be the name of a natural person, a legal person or other organization, or the name of a public offering foundation may not be used.
Question 10: What public foundations are there in China and non-Public Offering of Fund? 10 There are 60-70 companies offering funds publicly, and there are about 30 private equity companies.