Property in the fiduciary management of the organization, the procedure for using property when liquidating a non-profit organization - Finance of non-profit organizations

Property in the trust management of the organization

The property received from the founders can be trusted by a non-profit organization. Trust Property Management - is the process of managing immovable property transferred by the founder of a non-profit organization for a certain period of time. Relations between participants in the process are regulated by the US Civil Code. Assets in trust management are held by state corporations and state companies, the founder of which is the United States.

In accordance with the agreement on trust management of property, the founder transfers the property to a non-profit organization for a certain period of time, and the other party undertakes to manage this property in the interests of the founder. In the case of trust management of property, a non-profit organization does not become the owner of this property, but has the right to perform any legal and actual actions in respect of this property in the interests of the founder.

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The founder can transfer to a non-profit organization for trust management certain objects related to immovable property, securities, rights certified by non-documentary securities, exclusive rights and other property.

Property transferred to trust management is necessarily detached from the other property of the founder, as well as from the property of the non-profit organization.

This property is reflected in a non-profit organization on a separate balance sheet, and it is independently recorded. For calculations on activities related to trust management, a separate bank account is opened.

In the process of carrying out the main and income-generating activities, a non-profit organization has the right to acquire new property at its own expense and at the expense of the founders. The decision to acquire new property is taken by the founders (participants).

For example, a budgetary institution can acquire property (including land) at the expense of funds allocated to it by the founder. In such cases, the founder transfers money to the budget institution for the purchase of property with the inclusion of the amount of property tax, if such property is recognized as an object of taxation.

The procedure for using the property when liquidating a non-profit organization

In the cases defined by Russian law, non-profit organizations can be liquidated. The procedure for the use of property in case of liquidation of a non-commercial organization is necessarily reflected in its constituent documents. In the constituent agreement, the founders of a non-commercial organization determine the conditions for obtaining property in case of the founders (participants) leaving it, as well as when the non-profit organization is liquidated.

Upon liquidation of a non-profit organization, property remaining after satisfaction of creditors' claims, unless otherwise established by federal laws, is sent in accordance with the constituent documents of a non-profit organization for the purposes for which it was established and/or for charitable purposes. In the event that the use of the property of a liquidated non-profit organization in accordance with its constituent documents is not possible, it applies to the state's income.

In the event of the liquidation of a non-commercial partnership, the property remaining after satisfaction of creditors' claims is subject to distribution among members of the non-commercial partnership in accordance with their property contribution, the amount of which exceeds the amount of their property contributions, unless otherwise established by federal laws or constituent documents of a non-commercial partnership. >

The property of a private institution remaining after satisfaction of creditors' claims is transferred to its owner, unless otherwise provided by laws and other legal acts of the Russian Federation or constituent documents of such institution.

Property of a budgetary institution that has remained after the satisfaction of creditors' claims, as well as property for which, in accordance with federal laws can not be levied for the obligations of a budgetary institution, is transferred by the liquidation commission to the owner of the corresponding property.

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