Nadace

Nadace is a nonprofit legal form used in the Czech Republic and Slovakia to manage charitable activity and grantmaking. It is typically established by a founder through an endowment and a founding deed, and is dedicated to a publicly beneficial goal, such as culture, education, science, health, social welfare, or environment. A nadace often operates independently from government and commercial entities, but may cooperate with public authorities to support public interests.

Legal framework: In the Czech Republic and Slovakia, nadace are registered organizations governed by specific civil-law provisions. They maintain long-term endowment funds and must manage resources in accordance with the purpose stated in their founding documents. Governance usually includes a board of trustees or supervisory body and an executive or managing director; annual reports and audits help ensure transparency.

Activities: Primary functions include awarding grants and scholarships, supporting nonprofit organizations, funding research, preserving cultural heritage, and providing social or educational programs. Nadace may also administer prize programs, public campaigns, and capacity-building activities for civil society.

Funding: Endowments and donations are the main sources. A nadace invests its capital to generate income for ongoing activities and may receive government or private grants. Financial discipline and compliance with public-benefit purposes are essential for tax and reporting purposes.

Notable aspects: The term is widely used for philanthropic foundations in the region; examples include Open Society Foundations' regional foundation in the Czech Republic, and other national nadace or nadácie that support local initiatives. The concept emphasizes long-term, structured philanthropy with a focus on public benefit.