February 9, 2012
A level-playing field for European foundations is a step closer to becoming a reality with the European Commission’s adoption of a proposed Regulation on a European Foundation Statute on 8 February 2012. In these tough financial times, with increasingly tightened purse strings and every cent scrutinised, it is vital that foundations have the right tools to allow them to leverage their valuable resources.
A European Foundation Statute would reduce the amount spent on needless administration and instead allow the money to be spent furthering foundations’ philanthropic work.
A European Foundation Statute is a vital element in cultivating the right European environment for public-benefit foundations – and the citizens’ initiatives they support – to flourish. A new European legal tool, it would be both additional to existing national legislations and optional, i.e. used by those who need it to expand or start cross-border activities and collaborative ventures. Accessible and tailored to foundations’ needs, this tool would enable them to pool resources and give a European scale to their work, while also reducing costs and legal uncertainties
The Statute has won the backing of the sector – through members of the EFC and the 22 national associations of foundations that make up DAFNE. In addition, the Statute has secured the support of the European Economic and Social Committee in 2010 and the European Parliament in a recent written declaration. Entering the closing straits, the baton is now passed on to national governments and EU decision makers to get the European Foundation Statute across the finishing line. The demand is clear: that national governments and the European Parliament adopt the European Foundation Statute before 2014.Author : efc