nadacích

Nadace is a type of nonprofit legal entity in the Czech context, established to manage an endowment and pursue defined public-benefit goals such as culture, education, science, health, or social work. The plural form nadacích appears in Czech texts when referring to multiple foundations, for example in phrases like o nadacích (about foundations).

Form and purpose. A nadace is created by a donor or group of donors who place assets under its administration. The foundation’s purpose and rules are laid out in its founding charter, and the endowed assets are intended to be preserved and used to fund activities that align with that purpose. The assets are typically managed to provide ongoing support rather than being spent in the short term.

Governance and activities. Nadace are managed by a governing body, such as správní rada (board) and, in some structures, a dozorčí rada (supervisory board), with a statutory representative responsible for legal acts. They distribute grants, scholarships, or subsidies, support research, culture, education, social projects, and may run own programs or facilities in line with their mission. Funding comes from the returns on the endowment, new donations, and sometimes income from invested assets.

Legal framework. In the Czech Republic, foundations operate under civil law and are subject to registration, reporting, and governance requirements. They are expected to use their resources transparently for public-benefit purposes and may benefit from certain tax privileges related to charitable activities, depending on applicable law and status.

Types and significance. Nadace may be corporate, family, or independent foundations, each reflecting different sources of support and engagement. They provide long-term funding, contribute to cultural and scientific infrastructure, and help sustain public goods beyond the lifetimes of individual donors.