ANBI status is granted to foundations which comply with strict legal conditions. If these conditions are not fully adhered to a foundation can lose its ANBI status which has financial implications. TCS Charity helps you to comply with the necessary requirments:
- At least 90% of the monies paid out must be to a charitable institution;
- There should be a reasonable balance between assets and the total amount paid out;
- The foundation should have its own website;
- Each year there should be a year plan;
- Commercial activities can be undertaken subject to certain conditions;
- There should be a reasonable balance between expenditure and those costs needed to achieve the objectives of the foundation;
- Members of the boards are unpaid.
TCS Charity monitors closely whether all conditions are met and will alert the board if necessary.