Named Funds
Engaging to one or more good causes
Would you like to get involved (alone, as a couple or family, or with a community) in supporting one or more good causes close to your heart?
Whether it has a capital or not, a Named Fund can always be an interesting way to get involved. This is a flexible option because you yourself set out the objectives to be reached, the duration of the Fund, the scope of its activities (in Belgium and/or abroad), how support is given (e.g. through a call for projects, a prize, or support for a field of research) and the way in which it is managed.
Over many years the King Baudouin Foundation has acquired wide experience in the creation and management of Funds. Synergy across different Funds that share similar objectives is created in order to increase the impact of the Funds’ activities.
How Does It Work?
Why set up a Fund?
Private individuals, organisations or companies that wish to become involved in social engagement on a particular issue can set up their own foundation. Setting up and managing a foundation does, however, entail a good deal of administration. Setting up a Fund within Myriad Europe offers a flexible approach that does not involve so many formalities.
A Fund managed by Myriad Europe will always pursue an objective that is in the public interest and is, or was, close to the founder’s heart. A management committee is set up for each Fund and must include the founder or their representative, a representative of Myriad Europe and an independent person. The management committee has extensive freedom of action, as long as the Fund continues to work within its mission. Funds can develop their own initiatives or provide financial support to third party projects. In the latter case, they can launch calls for project proposals.
Myriad Europe’s Centre for Philanthropy provides expert advice and takes care of administrative and legal management, as well as helping to ensure continuity. The Funds form an integral part of Myriad Europe, which remains legally responsible for all the transactions and financial undertakings of the Funds.
Myriad Europe’s Centre for Philanthropy provides Funds with a secretarial service to provide general coordination and day-to-day management.
More information : https://kbs-frb.be/en/contact-philanthropy-advisor .
Duration
A named Fund has, in principle, an unlimited lifespan, which guarantees its structural engagement, continuity and sustainability. However, you may prefer to opt for a Fund with limited duration, in which case every available means is committed to achieve the Fund’s objectives during the time span agreed.
Contributing assets
The financing of a named Fund depends, above all, on the duration envisaged for the Fund’s activities.
A Fund with capital, which aims at continuity: in this case, you constitute a capital of a minimum of 75,000 euros or you transfer annual contributions in your role as founder. Each year, 3% of the Fund’s financial assets are allocated to conducting the Fund’s activities, the objective being to preserve the capital so as to act sustainably. The King Baudouin Foundation is authorised to deduct each year 0.7% of the Fund’s capital to finance its own activities.
A Fund without capital, with limited duration: the resources gathered can be used immediately to achieve the Fund’s objectives. An annual budget is established to develop or support third-party projects. The Fund thus operates as a sort of incubator, which enables new initiatives to be tried out. The King Baudouin Foundation is authorised to deduct each year 5% of the donations received by the Fund to finance its own activities. This amount is degressive for amounts above 100,000 euros of cumulated donations: 3% between 100,000 and 500,000 euros, 1% between 500,000 and 1 million euros, and 0.5% for amounts above 1 million euros.
The financial resources attributed to the Fund will be managed according to the method you choose, with or without the help of a financial advisor and under the control of the King Baudouin Foundation’s Finance Committee.
Making a grant distribution
The decision to support an organisation for one of its projects rests with the Fund management committee. Myriad Europe will contact the recommended grantee to request information on their structure, funding and activities. Our due diligence process helps ensure that grant monies are used for legitimate charitable purposes. A grant agreement is signed with the grantee, specifying the intended use of the grant monies and requesting a brief report after a year. Upon receipt of the signed agreement, Myriad Europe proceeds with the payment to the grantee, usually by wire transfer. If you do not have a preferred organisation in mind, we can help you identify premier nonprofit initiatives in the country, region or field of your interest.