Founders who do not want to set up and manage a legally independent foundation have an alternative: establishing a subfoundation under the umbrella of the Symphasis Foundation.
A subfoundation offers many of the same options as a legally independent foundation.
However, it is different from having a legally independent foundation in that, with Symphasis, founders need not concern themselves with setting up or managing their subfoundation.
Founders can freely determine the name and purpose of their subfoundation.
If they wish, founders can sit on the grants committee for their subfoundation and be involved in selecting the projects supported.
Symphasis supports the subfoundation with its expert knowledge, network and many years of experience in evaluating project partners and projects, and in monitoring supported projects.
The long-term and professional realization of the founder's intentions is guaranteed at all times thanks to a range of independent control mechanisms.
Symphasis is recognized as a charitable institution by the tax authorities. Donations enjoy tax privileges – where permitted by the applicable law.
The costs of setting up and managing the subfoundation are borne largely by Symphasis.
Boards of trustees of existing foundations may be interested in considering a merger with the Symphasis umbrella foundation. Merging with Symphasis entails setting up a subfoundation – with the same purpose – as the successor to the legally independent foundation.