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Articles of Association

APPROVED By the decision of the founder OF THE CHARITABLE ORGANIZATION "BOHDANA BAHAI CHARITABLE FOUNDATION" Decision No. 2 of October 18, 2024

CHARTER OF THE CHARITABLE ORGANIZATION "BOHDANA BAHAI CHARITABLE FOUNDATION" (new edition) Brody - 2024

1. GENERAL PROVISIONS 1.1. THE CHARITABLE ORGANIZATION "BOHDANA BAHAI CHARITABLE FOUNDATION" (hereinafter - the Fund) is a non-governmental voluntary charitable organization established in the form of a charitable foundation. 1.2. The Fund is founded and operates in accordance with the Constitution of Ukraine, the Law of Ukraine "On Charitable Activities and Charitable Organizations," current legislation of Ukraine, and this Charter. 1.3. The Fund is a charitable organization that independently determines the spheres, types, location (territory), terms, and beneficiaries of charitable activities in its constituent documents, charitable programs, or other decisions of its governing bodies. 1.4. The Fund does not aim to generate profit in its activities. 1.5. The Fund acquires the status of a legal entity under the legislation of Ukraine from the moment of its state registration, has an independent balance sheet, acquires personal property and non-property rights on its own behalf, acts in legal relations, bears obligations, acts as a plaintiff and defendant in judicial bodies, has separate property, and accounts in banking institutions, including foreign currency accounts. 1.6. The Fund conducts its activities on the principles of legality, humanity, commonality of interests and equality of rights of participants, transparency, and voluntariness. 1.7. The Fund's activities are of a public nature, do not contradict its interaction with state authorities, and do not deprive it of the right to receive state support. The Fund is established for an indefinite period. 1.8. The Fund has the right to have a round seal, a corner stamp, letterheads with its name, and its own symbols. 1.9. The Fund is liable for its obligations within the limits of its property, which may be subject to recovery in accordance with current legislation of Ukraine. 1.10. The state, its bodies, and the founders of the Fund are not liable for the obligations of the Fund, just as the Fund is not liable for the obligations of the state, its bodies, or its founders. 1.11. Name of the Fund in Ukrainian: Full: БЛАГОДІЙНА ОРГАНІЗАЦІЯ «БЛАГОДІЙНИЙ ФОНД БОГДАНИ БАГАЙ»; Abbreviated: БО «БФББ». Name in English: Full: CHARITABLE ORGANIZATION «CHARITABLE FOUNDATION BOHDANY BAHAY»; Abbreviated: CO «CFBB».

2. GOALS AND SPHERES OF THE FUND'S CHARITABLE ACTIVITY 2.1. The goals of the Fund's charitable activities are to provide assistance to promote the legitimate interests of beneficiaries in the spheres of: promoting the country's defense capabilities and mobilization readiness, assisting in providing units of the Armed Forces of Ukraine with necessary equipment, devices, and ammunition; protecting the population in emergency situations of peace and war; preventing natural and man-made disasters and eliminating their consequences, assisting victims of disasters, armed conflicts, and accidents, as well as refugees and persons in difficult life circumstances; promoting the implementation of state, regional, local, and international programs aimed at improving the socio-economic situation in Ukraine; developing and implementing cultural and educational programs and projects, including providing assistance to artists, creative collectives, specialists in education and training; social protection, social security, social services for veterans and combatants; science and scientific research; developing international cooperation of Ukraine. 2.2. The Fund is established with the aim of:

  • carrying out charitable activities in the interests of the Armed Forces of Ukraine, the National Police of Ukraine, national resistance, including the formation of territorial defense, military formations;

  • carrying out charitable activities in the spheres of defense capabilities and mobilization readiness of the country;

  • carrying out charitable activities in the interests of citizens, society;

  • providing charitable assistance to citizens of Ukraine affected by the aggression of the Russian Federation, providing psychological assistance to soldiers and civilians to support their physical and emotional well-being, developing and implementing programs aimed at improving the mental state and rehabilitation of persons who have experienced stressful situations, providing them with access to qualified specialists and resources to ensure mental resilience and psychological support;

  • carrying out charitable activities in the interests of Ukrainian citizens of the following categories: servicemen, persons carrying out activities for the defense of the state, veterans, internally displaced persons, refugees, and persons in need of additional protection;

  • organizing, creating, supporting, financing, and developing institutions, establishments, and organizations engaged in the training of military specialists, medical personnel, and the implementation of mobilization measures;

  • organizing and financing projects in the field of culture, education, training, promoting Ukrainian art, folklore, traditions;

  • financing projects, creating new and supporting existing projects in the fields of science;

  • ensuring and supporting the organization and conduct of educational work and strengthening the role of social and cultural projects for the development of society;

  • providing assistance to children who have lost parents as a result of armed conflicts;

  • receiving and distributing charitable and humanitarian aid from individuals and legal entities, organizations of any form of ownership. 2.3. Within the framework of its statutory activities in the defined spheres, the Fund has the right to:

  • provide charitable assistance to: individuals, the Armed Forces of Ukraine, the National Police of Ukraine, national resistance, including territorial defense formations, military formations, territorial defense bodies of Ukraine, non-profit organizations (including religious organizations), territorial communities, any legal entities that receive assistance to achieve the goals defined by the Law of Ukraine "On Charitable Activities and Charitable Organizations";

  • organize conferences, seminars, meetings, mass events, including using social networks and platforms that facilitate the dissemination of information regarding armed aggression and hostilities in Ukraine, and the needs for effective resistance to armed aggression;

  • receive, transport by own or leased vehicles, and use for their intended purpose humanitarian aid, as well as send humanitarian aid to other states in the manner prescribed by the Law of Ukraine "On Humanitarian Aid";

  • establish its departments, branches, and representative offices in accordance with current legislation;

  • unite with other charitable organizations into unions, associations, and other voluntary associations created on a voluntary basis and contributing to the fulfillment of statutory tasks;

  • organize the collection of charitable donations and contributions from individuals and legal entities of Ukraine, foreign citizens, foreign states, and international organizations;

  • independently decide on the provision of charitable assistance to its recipients (beneficiaries), use targeted donations provided by benefactors for the implementation of charitable programs in accordance with the terms of such donations;

  • consistently determine the forms, objects, subjects, and volumes of charitable assistance;

  • open accounts (in national and foreign currencies) in banking institutions;

  • establish mass media, official channels in social computer networks, websites, etc.;

  • create separate divisions, be a founder and participant of other charitable organizations, as well as unions, associations, and other voluntary associations, carry out joint charitable activities;

  • have its own symbols;

  • popularize its name (title) and symbols;

  • carry out activities involving volunteers with or without concluding a volunteer activity agreement with a volunteer in the manner prescribed by the Law of Ukraine "On Volunteer Activities";

  • receive funds and other property for carrying out volunteer activities;

  • independently determine the directions of volunteer activities;

  • issue identification cards to volunteers confirming their identity and type of volunteer activity within the Fund's activities;

  • reimburse volunteers for expenses related to their provision of volunteer assistance, as provided for by the Law of Ukraine "On Volunteer Activities";

  • insure the life and health of volunteers for the period of their volunteer activities in accordance with the Law of Ukraine "On Insurance";

  • invite foreigners and stateless persons to carry out volunteer activities on the territory of Ukraine, send citizens of Ukraine abroad to carry out volunteer activities. 2.4. The Fund carries out charitable activities in the following forms: 2.4.1. Providing one-time financial, material, organizational, and other assistance (including granting scholarships). 2.4.2. Providing systematic financial, material, organizational, and other assistance. 2.4.3. Financing specific targeted programs. 2.4.4. Providing assistance based on concluded agreements (contracts) on charitable activities. 2.4.5. Donating or granting permission for free (preferential) use (enjoyment) of property objects, including: movable and immovable property, things, and real rights. 2.4.6. Providing assistance through personal labor, services, or transferring the results of personal creative activity of the Fund's employees or persons involved by the Fund on a contractual basis to beneficiaries. 2.4.7. Assuming the costs of free, full, or partial maintenance of charitable objects. 2.4.8. Participating in granting scholarships, other charitable donations, and financial assistance to community foundations, as well as promoting the provision of such assistance to community foundations from individuals and legal entities, international organizations; 2.4.9. Promoting patronage, exchange, and dissemination of information related to the Fund's purpose and goals; 2.4.10. Participating in advisory bodies, public discussions, consultations, expert examination of regulatory legal acts, as well as monitoring and evaluation activities related to the Fund's purpose and goals; 2.4.11. Granting permission to use its name, emblem, symbols. 2.4.12. Public collection of charitable donations. 2.4.13. Management of charitable endowments. 2.4.14. Execution of wills, testamentary renunciations, and hereditary contracts for charitable activities. 2.4.15. Conducting charitable auctions, non-cash lotteries, competitions, and other charitable events not prohibited by law. 2.4.16. Providing volunteer assistance to the Armed Forces of Ukraine, other military formations, law enforcement agencies, state authorities during a special period, legal regimes of emergency or martial law, conducting anti-terrorist operations, implementing measures to ensure national security and defense, repelling and deterring armed aggression of the Russian Federation.

3. CHARITABLE PROGRAM OF THE FUND 3.1. The complex of charitable measures aimed at implementing the forms of charitable assistance provided for in clause 2.4 of this Charter is implemented by the Fund in the form of a charitable program, which is a complex of charitable measures aimed at solving tasks corresponding to the statutory goals of the Fund. 3.2. The entire amount of revenues for the relevant financial year, excluding administrative expenses related to the functioning of the Fund, is used for the implementation of the charitable program. 3.3. To implement certain long-term measures, the Fund may additionally adopt separate charitable programs. The use of funds for the implementation of a long-term program is carried out in accordance with the terms defined by this program.

4. RIGHTS AND OBLIGATIONS OF THE FUND 4.1. In accordance with its statutory tasks and current legislation, the Fund has the right to: 4.1.1. Independently decide on the provision of charitable assistance to its beneficiaries, use targeted donations provided by benefactors for the implementation of charitable programs in accordance with the terms of such donations. 4.1.2. Independently determine the forms, objects, subjects, and volumes of charitable assistance. 4.1.3. Carry out charitable activities jointly with individuals and legal entities on terms defined by current legislation of Ukraine. 4.1.4. Be a member and/or founder of other charitable organizations, unite into unions, associations, and other associations created on a voluntary basis and contributing to the fulfillment of the Fund's statutory tasks. 4.1.5. Exchange information, knowledge, and experience regarding the implementation of charitable activities, as well as specialists from the Fund with relevant charitable organizations both in Ukraine and abroad. 4.1.6. Implement its own targeted and comprehensive charitable programs, support programs of other charitable organizations that do not contradict the statutory goals and tasks of the Fund. 4.1.7. Organize the collection of charitable donations and contributions from individuals and legal entities, foreign states, and international organizations. 4.1.8. Open accounts (in national and foreign currencies) in banking institutions, have deposit accounts in banking institutions in accordance with current legislation, have an independent balance sheet. 4.1.9. Conduct charitable non-cash lotteries, charitable campaigns for collecting charitable donations, charitable mass events, charitable auctions. 4.1.10. Establish enterprises and organizations, business entities to achieve the goals defined by this Charter. 4.1.11. Acquire ownership, possess, use, and dispose of movable and immovable property, funds, etc., acquire property rights in the manner established by current legislation. 4.1.12. Conclude agreements with Ukrainian and foreign legal entities and individuals in the manner prescribed by law, which do not contradict the statutory activities of the Fund. 4.1.13. Establish its departments, branches, and representative offices in accordance with the legislation of Ukraine. 4.1.14. Popularize its name (title), symbols in mass media, social networks, including by placing advertisements. 4.1.15. Establish contacts and cooperate with foreign legal entities and individuals in the interests of the Fund in accordance with the goals and tasks provided for in this Charter. 4.1.16. Engage volunteers to implement the Fund's programs, create volunteer centers in accordance with the requirements of the legislation of Ukraine. 4.1.17. Exercise other rights in accordance with current legislation of Ukraine. 4.1.18. Form a staff of employees to carry out day-to-day work. 4.1.19. Exclusively if necessary, engage specialists and experts from relevant fields to achieve its goals and objectives. 4.2. In accordance with its statutory tasks and current legislation, the Fund has the obligations to: 4.2.1. Ensure that its activities are conducted in strict compliance with the legislation of Ukraine. 4.2.2. Ensure free access to its reports, documents on economic and financial activities in the manner prescribed by current legislation of Ukraine. 4.2.3. Fulfill other obligations provided for by current legislation of Ukraine.

5. FOUNDERS AND PARTICIPANTS OF THE FUND. CONDITIONS AND PROCEDURE FOR ADMISSION TO, WITHDRAWAL FROM, AND EXCLUSION FROM THE FUND. RIGHTS AND OBLIGATIONS OF THE FUND'S PARTICIPANTS 5.1. Founders and participants of the Fund may be citizens of Ukraine, foreign citizens, stateless persons who have reached the age of 18, as well as legal entities regardless of ownership forms, who recognize the programmatic principles and the Charter of the Fund, pay contributions, fulfill decisions of the Fund's governing bodies, participate in its activities, and contribute to achieving its goals defined by this Charter. 5.2. State authorities and local self-government bodies, as well as state and communal enterprises, institutions, organizations of Ukraine financed from the budget, cannot be founders and participants of the Fund. 5.3. The founders of the Fund are its participants. 5.4. Persons who are not founders of the Fund may be admitted to the Fund's participants in the manner prescribed by this Charter. 5.5. Admission to the Fund's participants is carried out on the basis of a written application from the candidate and by a decision of the Fund's Supervisory Board. Until the establishment of the Fund's Supervisory Board, decisions on admission, exclusion of a participant, setting the amount of contributions, etc., are made by the General Meeting of the Fund's Participants. 5.6. The Fund's participants pay membership fees in the amount established by the General Meeting. 5.7. Amendments to the Charter related to the admission of persons to the Fund's participants or the withdrawal of persons from the Fund's participants are not made. The Executive Body of the Fund maintains a Register of the Fund's Participants. The fact of participation in the Fund is recorded in the Register of the Fund's Participants. 5.8. The Fund's Supervisory Board may decide to admit a person to the Fund's participants if that person:

  • recognizes and adheres to the provisions of the Fund's Charter;

  • recognizes the purpose of the Fund's activities and its tasks;

  • will contribute to the Fund's activities. 5.9. The Fund's participants – legal entities – exercise their rights and obligations through their representatives. 5.10. A participant of the Fund may be excluded by a decision of the Supervisory Board, adopted by a majority of votes of the members of the Fund's Supervisory Board, in cases provided for in clause 5.11 of the Fund's Charter. 5.11. Participation in the Fund may be terminated by a decision of the Fund's Supervisory Board without the consent of the excluded person in the following cases:

  • repeated non-compliance by the Participant with the requirements of the Fund's Charter;

  • actions that discredit the Fund, harm the reputation of the Fund or the interests of benefactors or recipients of charitable assistance;

  • violation of the Fund's Code of Ethics. 5.12. In case of withdrawal (exclusion) from the Fund of its participant, the contributions paid by the Fund member are not returned. 5.13. A participant of the Fund has the right to withdraw from it at any time by giving written notice to the Fund's Supervisory Board 30 days before the date of withdrawal. The amount of the contribution is not returned in this case. 5.14. The Fund's participants have the right to: 5.14.1. participate in events organized by the Fund; 5.14.2. elect and be elected to the Fund's governing bodies; 5.14.3. submit proposals to the Fund's bodies on issues related to the Fund's activities; 5.14.4. submit proposals and comments on the Fund's work for consideration by the governing bodies; 5.14.5. participate in the preparation and discussion of decisions and work plans of the Fund; 5.14.6. send inquiries to the Fund's bodies and receive answers to them; 5.14.7. receive information on issues of the Fund's activities; 5.14.8. apply to the Fund to protect their rights and interests within the goals of the Fund's activities; 5.14.9. withdraw at any time from the composition of the founders and participants of the Fund by submitting a corresponding application to the Executive Body of the Fund 30 days before the date of withdrawal; 5.14.10. exercise other rights provided for by this Charter. 5.15. The Fund's participants are obliged to: 5.15.1. comply with the provisions of this Charter; 5.15.2. directly participate in the Fund's activities in the forms provided for by this Charter and decisions of the Fund's statutory bodies, in the implementation of its statutory goals and objectives; 5.15.3. fulfill assignments entrusted to them by the Fund within the framework of its statutory activities; 5.15.4. promote the expansion of ties and the dissemination of information about the Fund's activities; 5.15.5. promote the goals and objectives of the Fund's activities among potential benefactors to attract financial resources; 5.15.6. provide the Fund with information necessary for its activities; 5.15.7. pay entrance and membership fees, the amount and procedure for payment of which are determined by the decision of the Supervisory Board; 5.15.8. comply with the provisions of the Fund's Code of Ethics; 5.15.9. fulfill other obligations provided for by this Charter. 5.16. The Fund's participants or persons associated with them do not have the right to receive loans or credits and security for such loans or credits (pledge, guarantee, etc.) from the Fund. 5.17. The founders and members of the Fund's team cannot be beneficiaries of charitable programs. 5.18. The procedure for admission to and exclusion from the Fund's participants, as well as the rights and obligations of the Fund's participants, may be regulated by a relevant provision adopted by the General Meeting of the Fund's Participants.

6. GOVERNING BODIES OF THE FUND 6.1. To ensure the Fund's activities, the following governing bodies are established:

  • General Meeting of the Fund's Participants (or a single participant if the Fund has only one participant);

  • Supervisory Board of the Fund;

  • Director of the Fund. 6.1.1. The highest governing body of the Fund is the General Meeting of the Fund's Participants. 6.1.2. The executive body of the Fund, which carries out the current management of the Fund and ensures its financial and economic activities, is the Director of the Fund, who is proposed and elected by the General Meeting of the Fund. 6.1.3. Control functions over the Fund's activities are exercised by the Supervisory Board of the Fund, which consists of the Chairman and members of the Supervisory Board, elected by the General Meeting of the Fund's Participants.

7. GENERAL MEETING OF PARTICIPANTS OF THE FUND 7.1. The highest statutory body of the Fund is the General Meeting of the Fund's Participants, which is convened at least once a year. 7.2. Extraordinary General Meetings of the Fund's Participants may be convened at the request of the Fund's Supervisory Board or at least 10% of the Fund's participants. The date of regular and extraordinary General Meetings of the Fund's Participants is determined by the Fund's Supervisory Board. Extraordinary General Meetings of the Fund's Participants cannot be scheduled later than 20 calendar days after receiving the relevant request. 7.3. Participants of the Fund are notified by the Fund's Supervisory Board or by the participants at whose request an extraordinary General Meeting is convened about the date and time of the General Meeting of the Fund's Participants and the agenda no later than 10 calendar days before the date of the General Meeting. All participants of the Fund have the right to participate in the General Meeting of the Fund's Participants. 7.4. The General Meeting of the Fund's Participants is quorate if at least half of the Fund's participants are present. 7.5. A decision of the General Meeting of the Fund's Participants is considered adopted if more than half of the participants present at the meeting voted for it. 7.6. The Fund's participants have the right to delegate their powers by appointing representatives on the basis of an appropriate power of attorney to represent interests. A representative of a Fund member may be permanent or appointed for a certain period. A participant of the Fund has the right to change or revoke their representative at any time. 7.7. Each participant of the Fund has one vote when voting. 7.8. The competence of the General Meeting of the Fund's Participants includes:

  • approval of the Fund's Charter, as well as amendments to the Charter;

  • election and recall of the Director and the Supervisory Board of the Fund;

  • making decisions on the acquisition and termination of the Fund's participation in other charitable organizations or their associations (including associations, unions, etc.);

  • making decisions on the procedure for appointing, electing, or approving members of the Fund's governing bodies, their replacement, suspension of their powers, termination of their powers (recall);

  • making decisions on the reorganization and liquidation of the Fund;

  • approval of the Supervisory Board's reports on control over the targeted use of the Fund's funds and property;

  • approval of the Director of the Fund's reports on the results of the Fund's work and the implementation of its charitable programs for the past year and reports on the results of the Fund's financial and economic activities;

  • approval of the Fund's Code of Ethics;

  • resolving any other issues of the Fund's activities that are not within the exclusive competence of other Fund bodies. 7.9. The powers of the General Meeting of the Fund's Participants, which are not assigned by the legislation of Ukraine to their exclusive competence, may be delegated to the Supervisory Board. 7.10. The constituent meeting of founders, the General Meeting of participants may elect a person or several persons who have the right to act on behalf of the legal entity, including signing agreements, submitting documents for state registration, etc., and establish the presence or absence of restrictions on the said person (persons) in the relevant decision. 7.11. Decisions on amending the Fund's charter, alienating Fund property for an amount equal to or exceeding fifty percent of the Fund's property, and on liquidating the Fund are adopted by a majority of at least 3/4 of the votes, unless otherwise provided by law.

8. DIRECTOR OF THE FUND 8.1. The Director is an official of the Fund and manages its current activities in accordance with the legislation, the Charter, and the decisions of the General Meeting and the Supervisory Board of the Fund. 8.2. The Director has the authority to:

  1. ensure the implementation of decisions of the Fund's governing bodies;

  2. represent the Fund without power of attorney in state authorities, local self-government bodies, courts, as well as in relations with other persons in Ukraine and other states;

  3. appoint and issue powers of attorney to other persons for legal actions on behalf of the Fund;

  4. conclude agreements, carry out other transactions on behalf of the Fund within the financing limits established by the Fund's Supervisory Board;

  5. open and close the Fund's accounts in banks and other financial institutions, sign bank and other financial documents;

  6. approve the staff schedule, hire and dismiss employees of the Fund, organize their work, issue orders, instructions, and directives binding on the Fund's employees;

  7. make decisions on other current issues of the Fund's activities and carry out other administrative functions aimed at achieving the Fund's tasks.

9. SUPERVISORY BOARD 9.1. Control over the activities of the Fund's bodies is exercised by the Fund's Supervisory Board, which consists of the Chairman and members of the Supervisory Board and is elected by the General Meeting in the number of not less than 5 persons. The number of members of the Supervisory Board may be determined by a separate decision of the General Meeting, but cannot be less than 5 persons. 9.2. The Director of the Fund cannot be a member of the Supervisory Board. 9.3. The Fund's Supervisory Board is convened at least four times a year. 9.4. The composition of the Supervisory Board, including the Chairman of the Supervisory Board, is appointed (elected) by the General Meeting of the Fund's Participants for a term of one year. The composition of the Supervisory Board is subject to annual re-election. A Fund participant cannot be re-elected (twice) as Chairman and/or member of the Supervisory Board. If, after the expiration of the term of office of the members of the Supervisory Board, the General Meeting, for any reason, does not decide on their re-election or the election of a new composition of the Supervisory Board, the powers of such members of the Supervisory Board are extended until the General Meeting decides on their re-election. 9.5. Only participants of the Fund can be members of the Supervisory Board. Members of the Supervisory Board cannot be members (participants) of political parties. 9.6. The Chairman of the Supervisory Board convenes regular meetings of the Supervisory Board at least 4 (four) times per calendar year. At the written request of a Fund participant or a member of the Supervisory Board, the Chairman of the Supervisory Board convenes an extraordinary meeting of the Supervisory Board within ten calendar days. 9.7. Meetings of the Supervisory Board are quorate if the majority of its members are present. A decision of the Supervisory Board is adopted if at least half of the total number of members of the Supervisory Board voted for it. 9.8. Decisions of the Supervisory Board are binding on the Director of the Fund. 9.9. The Supervisory Board:

  • controls and regulates the activities of the Director of the Fund;

  • approves the Fund's charitable programs;

  • controls the compliance of the Fund's activities with legal requirements;

  • controls the use of the Fund's assets in accordance with its constituent documents;

  • determines specific tasks and forms of the Fund's activities;

  • manages the Fund's property, delegates certain powers to manage the Fund's property to other bodies and persons;

  • approves the Fund's annual activity programs;

  • establishes funding limits for the Fund's activities;

  • exercises other powers provided for by the Charter and acts of the Fund. 9.10. Until the election of at least five members of the Supervisory Board, the powers of the Supervisory Board are exercised by the General Meeting of the Fund.

10. PROCEDURE FOR AMENDING THE CHARTER OF THE FUND 10.1. Amendments to this Charter are made by a decision of the General Meeting of the Fund. 10.2. A decision at the General Meeting of the Fund to amend the Charter is adopted by ¾ of the participants attending the General Meeting. 10.3. Amendments to the Charter are formalized by setting out the Fund's Charter in a new edition. 10.4. The Fund notifies the registration authority of changes to the Charter in the manner and within the timeframes established by current legislation of Ukraine.

11. SOURCES OF ASSETS (INCOME), CONTROL AND REPORTING PROCEDURE OF THE FUND 11.1. The Fund has ownership rights and other real rights to funds, land plots, other movable and immovable property, intangible assets, as well as other property acquired legally and necessary for the implementation of the Fund's statutory activities. 11.2. The use of assets (income) and transactions of the Fund must not contradict legislative acts and the goals of charitable activities. 11.3. The sources of formation of the Fund's property and funds are: 11.3.1. funds or property received gratuitously or in the form of irrevocable financial assistance or voluntary donations; 11.3.2. passive income; 11.3.3. funds or property received by such non-profit organizations from their core activities, taking into account the provisions of the Tax Code of Ukraine; 11.3.4. grants or subsidies received from the state or local budgets, state target funds, or within the framework of technical or charitable, including humanitarian, assistance, excluding grants for regulating prices for paid services provided by such non-profit organizations or through them to their recipients in accordance with the legislation to reduce the level of such prices. 11.4. The Fund has the right to carry out any transactions with respect to the property and funds owned by it that do not contradict its statutory goals and current legislation of Ukraine. 11.5. The use of assets (income) and transactions must not contradict legislative acts and the goals of charitable activities. 11.6. The amount of administrative expenses of the Fund cannot exceed 20 percent of the Fund's income in the current year. 11.7. Income (profits) and property or their parts are not subject to distribution among the founders (participants), members of such an organization, employees (except for payment of their labor, accrual of a single social contribution), members of governing bodies, and other related persons. The income (profits) of a non-profit organization is used exclusively for financing expenses for the maintenance of such a non-profit organization, the implementation of the purpose (goals, objectives) and directions of activity defined by its constituent documents. 11.8. The financial activities of the Fund are carried out in accordance with the requirements of current legislation of Ukraine. 11.9. The Fund enjoys independence in matters of decision-making, determining the terms of remuneration for the Fund's employees, using its own financial and material resources in accordance with the requirements of current legislation. 11.10. The Fund compiles and submits financial, statistical, and other mandatory reports in the manner prescribed by law. 11.11. Information on the structure and amount of the Fund's income and expenses, as well as the terms of use of its assets for charitable activities, is not confidential information or a commercial secret. 11.12. The Fund's reports may contain information about the identity of benefactors or beneficiaries with the consent of benefactors, beneficiaries, or their successors or legal representatives, unless otherwise provided by law. 11.13. The Fund may require special reports from persons who have received charitable assistance from the Fund on the use of the said assistance, based on their written requests in the manner established by the Supervisory Board or by transactions of benefactors. 11.14. The Fund may require special reports from persons who have received charitable assistance from the Fund regarding the use of the said assistance.

12. ENSURING TRANSPARENCY AND INDEPENDENCE OF THE FUND'S ACTIVITIES 12.1. The Fund's activities are carried out on the principles of transparency and openness. 12.2. Key information about the Fund and its activities must be published on its personal website. All resources of the Fund's website must be open to any interested person. The website must contain at least the following information:

  • regulatory legal acts governing the Fund's activities;

  • annual reports on the Fund's activities;

  • information on the principles of the Fund's financial policy;

  • standards of relations with persons financing the Fund's activities (benefactors).

13. RIGHTS OF DONORS Donors who have transferred or intend to transfer their property, funds, and other material assets to the Fund have the right to:

  • receive, upon their request, a report on the use of the specified property, funds, and assets;

  • receive information about the personal composition of the Fund's governing bodies;

  • familiarize themselves with the latest financial statements of the Fund (annual and quarterly);

  • receive appropriate professional attitude from the Fund's staff;

  • confidentiality of information about them and their charitable contributions.

14. GROUNDS AND PROCEDURE FOR REORGANIZATION OR LIQUIDATION OF THE FUND, PROCEDURE FOR DISTRIBUTION OF ITS ASSETS IN CASE OF TERMINATION OF ACTIVITY 14.1. The termination of the Fund's activities is carried out by its liquidation or reorganization:

  • by a decision of the General Meeting of the Fund (a decision at the General Meeting of the Fund on the termination of its activities by liquidation or reorganization is adopted by a majority of at least 3/4 of the votes);

  • by a court decision;

  • in other cases established by current legislation of Ukraine. 14.2. During the reorganization of the Fund, its rights and obligations are transferred to the successors. The successors of the Fund in case of its reorganization may be one or more charitable organizations. 14.3. The Fund cannot be reorganized into a legal entity whose purpose is to generate profit. 14.4. To carry out the liquidation of the Fund, a liquidation commission is formed, to which the powers to dispose of the Fund's property are transferred in accordance with current legislation of Ukraine. 14.5. In case of termination of a legal entity (as a result of its liquidation, merger, division, accession, or transformation), assets must be transferred to one or more non-profit organizations of the corresponding type, other legal entities that carry out non-state pension provision in accordance with the law (for non-state pension funds), or credited to the budget income in case of termination of a legal entity (as a result of its liquidation, merger, division, accession, or transformation). 14.6. Voluntary liquidation of the Fund is carried out on the basis of a decision of the General Meeting, which determines the procedure and terms of such liquidation in accordance with the legislation of Ukraine.

15. FINAL PROVISIONS 15.1. The Fund is a non-profit organization that does not pursue mercenary goals and does not aim to generate profit. 15.2. The Fund is established for an indefinite period. 15.3. Issues regarding the Fund's activities not defined by this Charter are regulated in accordance with the provisions of current legislation of Ukraine and the Fund's internal normative documents.

Founder: Bohdana Mykhailivna Bahai

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