Article 13. Types of funds of the Law On Non-Profit Organizations

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1. Depending on the composition of the founders, as well as on the field of activity, private, corporate, public, and state funds can be created.

Depending on the goals of the activity, social, charitable, cultural, educational and other foundations can be created.

2. A private foundation is a foundation established by one individual or individuals who are members of the same family at the expense of his (their) own funds. A private foundation may also be established by a notarized will of an individual.

The property of a private foundation is formed at the expense of one-time and (or) regular receipts from an individual (founder) or individuals who are members of the same family (founders), property received under a will, as well as other sources provided for in Article 35 of this Law and corresponding to the objectives of the private foundation.

The rights of the founder(s) of a private foundation may be included in the inheritance if this is provided for in the constituent documents.

3. A corporate fund is a fund established by one legal entity or several legal entities - commercial and (or) non-profit organizations at the expense of these organizations.

The property of a corporate fund is formed at the expense of one-time and (or) regular receipts from one or more legal entities - commercial and (or) non-profit organizations (founders), as well as other sources provided for in Article 35 of this Law and corresponding to the objectives of the corporate fund.

4. A public foundation is a foundation established by individuals who are not members of the same family, and (or) legal entities - public associations.

The property of a public fund is formed at the expense of one-time and (or) regular receipts from legal entities - public associations and individuals, as well as other sources provided for in Article 35 of this Law and corresponding to the objectives of the public fund.

The property of a public fund may not be formed at the expense of income from members of the same family - the sole participants of the specified fund.

5. A state fund is a fund established by a decision of state bodies to which the right to own, use, and dispose of state property has been transferred in accordance with the established procedure, and which implements the goals and objectives of the fund at the expense of the state budget.

The property of the state fund is formed at the expense of the state budget of the Republic of Kazakhstan in accordance with the procedure established by law, as well as other sources provided for in Article 35 of this Law and corresponding to the objectives of the state fund.

6. Relations arising in connection with the creation, operation, reorganization and (or) liquidation of funds formed at the expense of mandatory payments established by the legislation of the Republic of Kazakhstan are not subject to regulation by this Law.

The Law of the Republic of Kazakhstan dated January 16, 2001 No. 142.

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