‘Friends of’ Fund
Giving sustainable support to various projects of an organisation, together with other philanthropists.
Would you like to support different projects conducted by a single organisation, together with a group of philanthropist friends?
By creating a ‘Friends of’ Fund, a group of philanthropists decides to support a particular organisation or association, in a structural and sustainable way. You and your friends collect donations from supporters of the organisation in question and you decide which projects to support financially.
The ‘Friends of’ Fund has a duration of three years, although this may be prolonged at the request of those who set it up.
How it works
To create a ‘Friends of’ Fund, those proposing to set up the group must submit an application for the fund to be approved by the King Baudouin Foundation’s local Philanthropy Committee. Once approval has been given and the fund has been set up, it can begin fundraising from donors, through the Fund’s own activities. The Fund is responsible for deciding which projects should benefit from its support. The King Baudouin Foundation takes care of the fund’s administrative and financial management.
A ‘Friends of’ Fund has to collect at least 10,000 euros in donations each year. The founders also commit to making a one-off donation of 1,000 euros to the King Baudouin Foundation for setting up the Fund. Each year, the Foundation is authorised to make an annual deduction equal to 5% of the total amount collected in donations to finance its own activities. This percentage is degressive for cumulative donations amounting to over 100,000 euros.
Donations of 40 euros or more made for a ‘Friends of’ Fund via the King Baudouin Foundation’s account IBAN: BE10 0000 0000 0404 – BIC: BPOTBEB1 are eligible for a tax reduction of 45% on the amount actually transferred, which is mentioned on the tax certificate issued by the Foundation.