Legal regime of endowment funds’ property

Abstract

The article examines the key legal problems in connection with the formation and operation of endowment funds (endowment funds). The author takes as a basis two main theses related to the scientific heritage and personality of Professor of Moscow University Sergey Mikhailovich Korneev — the real nature of the right of operational management and the ethical significance of legal activity. The discussion in the scientific literature about the legal regime of the endowment fund property, as well as the purposes of spending the funds of these organizations, paid services of non-profit organizations has not subsided for several years. The author makes an attempt to talk about possible ways to resolve these debatable issues, based on the provisions of the current legislation. The subject of the author’s attention is endowment funds as a venture investment tool. Two ways of forming endowment funds are considered in detail — within the framework of an existing non-profit organization and by creating a specialized non-profit organization — a fund. Separately, the issue of restrictions that are introduced by the legislator for this type of non-profit organizations is considered. As an illustrative example, the article analyzes endowment funds operating in the educational sector.

References

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