Purpose of the Foundation and its Possible Changes

This article deals with the purpose of foundation and possibility of its change. In the Czech Republic foundations has to pursue only a public benefit purpose. In the current Czech legal regulation of foundation law is missing possibility to change purpose of foundation. It has a historical reason and it costs a lot of practical problems.
All Member States of EU require that the endowment is dedicated to a specified purpose. However, there are differences between regulations as to the nature of that purpose. There are three main kinds of purposes: “public benefit”, “useful” purpose and “any lawful” purposes. The aim of the European Foundation Project is to develop the legislative draft for the legal form - The European Foundation which should promote also a public benefit purposes only. The possible change of the purpose is stated in the draft of European foundation statute.