Foundations, cooperatives and associations

Accountability and liability
For foundations, cooperatives and associations, the accountability through financial documents is of great importance. With an annual account and annual report, the management of these organisations accounts for the financial policy, both towards its own members and third parties. Furthermore, these organisations regularly receive subsidies from, for example, the municipality in order to cover the expenditures. In order to ensure the continuation of the subsidy for current and future years, a proper, timely and complete accountability in the form of an annual account and annual report is essential. Important aspects at these organisations are the administrative duty, the cash procedure (especially at high cash flows) and the liability of the boardmembers. In the event of improper action by the board, the boardmembers can be personally liable for the cooperation, foundation and association debts.

Fiscalities
There are various types of taxes that foundations, cooperatives and associations can be subjected to. The VAT obligation might be of importance for community houses and multi functional accommodations (MFA). Opting for the VAT obligation could lead to significant benefits, becasue a refund of the withholding tax on purchases and operating costs can be claimed from the tax authorities. In addition, many institutions (including PBO’s and MFA’s) are entitled to a refund of energy tax. We gladly make sure that you get these possible refunds.

Maintaining Public Benefit Organisation (PBO)-status
As of January 1 2014, stricter terms will apply for a Public Benefit Organisation (PBO), including the compulsory publication of numerous data on its own internetsite. In order to maintain the PBO-status, it is required to be in compliance with these terms and conditions.

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