About us - Governance & financial management
What does the Foundation do with real estate property donated to it?
Many times each year the Foundation receives a legacy, in virtually all cases as the manager of a Fund that receives the legacy. Quite often these legacies also include real estate property. The Foundation usually sells the real estate property.
There are two exceptions:
- Preservation of a property (building or land) is sometimes included in the mission of the Fund, particularly if it has value as a heritage monument or as protected countryside, or if it needs to be used for an initiative in the public interest.
- In exceptional cases the property is let out so that the rent can be used to provide income for the specific Fund.