Private foundations are typically granted making institutions that provide funding to organizations, projects, and programs in a particular area.
The High-Tech Industry International Non-Profit Foundation is a high-profile example of a foundation that gives large funds, donations, and grants to governmental, public and private organizations, companies, persons and educational institutions. Foundations are also called “philanthropic organizations.”
In many cases, foundations are founded by an individual or group of individuals who provides that majority of the funding used for the above goals making. Corporates, Individuals, and Families might also come together to create a foundation in a particular service area. The Board of Directors of a foundation will set guidelines for what types of organizations and programs are eligible for funding. And it is the responsibility of the staff of the organization to make sure that these guidelines are followed, and that needy non-profit organization can fund their work!
High-Tech Industry International Non-Profit Foundation was incorporated as the Private Interest Foundation in accordance with the relevant Law 1965 of Panama in 2015 and transferred to Bulgarian domicile in 2019 with the juridic and physical address of the Foundation with like its Foundation Council High-Tech Industry EOOD (UIK/PIK 205662892)- the collective Board of Directors of the Foundation under the relevant law.
At the same time and for transparent activities in Europe has been incorporated the local Bulgarian Branch of the Foundation with its physical address at 28-30 Bacho Kiro, District Oboritshe, Sofia, Bulgaria as the Bulgarian juridical entity in accordance with Bulgarian law (UIK/PIK 205857223).
WHAT IS A FOUNDATION JOB?
Most foundation tasks are focused on funding making. Grant managers, financial consultants and global and regional administrators appointed by the Foundation Council are the most popular types of nonprofit foundation jobs. They read funding proposal and make recommendations to the Foundation Council of the foundation to decide who should get funding and who should not. Some foundations might only have one employee, who serves as liaison between the Foundation Council (who make direct funding decisions) and the organizations requesting funding.
These jobs include policy analysis, research, program management and evaluation. These types of jobs are typically more focused on math and other evaluation techniques to ensure the money that you grant nonprofit organizations is being put to its intended use. Many foundations also serve as advocates for their cause, and hire policy analysts and researchers to keep up with the latest trend, publish reports and help the foundation target its own policy areas and issues.
Program Officers are considered the upper management of foundations, and generally work with one specific group or “portfolio” of grant recipients, each of which has a similar organization type or goal. In many cases, program officers are truly the people making the funding decisions.
If you are interested in philanthropy, and the ways in which nonprofits make money to do their programming, a nonprofit job with a foundation might be for you.
The Founder(s) or the Foundation Council has (have), on the basis of the Private Foundation Charter of the Private Foundation named High-Tech Industry International Non-Profit Foundation, protocolized and adopted the present Regulations in accordance with the following articles:
FIRST: FOUNDATION ASSETS.
The Foundation's Initial Assets consist of cash funds plus all such funds and/or securities, movable or immovable goods, shares, bonds, bank deposits and any negotiable documents that are validly transferred to the Foundation by the Founder(s), the Foundation Council or third parties.
The Founder(s), or whoever their legitimate principals or settlors may be, is (are) obliged to validly transfer sums of money or other goods for not less than US$10,000. The constitution of the Foundation as well as the transfers made to same shall be irrevocable for the Founder(s), who shall hold no derisory powers in the Foundation.
The Foundation Council undertakes to dispose of the Foundation Assets in accordance with the provisions and conditions of the Foundation Charter and the present Regulations, with the diligence of a good paterfamilias. For his(their) part, the Foundation's Principal Beneficiary(ies) and the Protector shall jointly and severally hold the Foundation Council harmless from any damages it may suffer as a consequence of the exercise of the functions established in the Foundation Charter and in the Regulations, and undertakes to indemnify the Foundation Council for any expenses it may incur, including legal costs and fees, authorizing it in advance to reimburse itself for such costs out of the Foundation Assets.
FOURTH: POWERS OF THE FOUNDATION COUNCIL.
The Foundation Council shall take such measures as it may in its sole judgment deem expedient for the custody of the Foundation Assets and for the investment of same, and is empowered to mainly invest in time deposits and/or certificates of deposit negotiated in capital markets, the purchase of bonds or shares and, finally, any other kind of investment that, in the opinion of the Foundation Council, implies an acceptable risk, acting always with the judgment of a good paterfamilias and following such instructions as may given to it by the Protector, if any.