sihtasutustelt

Sihtasutustelt is an Estonian term that translates to "foundation" or "endowment fund" in English. It refers to a legal entity established for a specific public benefit purpose, such as education, science, culture, healthcare, or environmental protection. Foundations in Estonia operate on the principle of dedicating their assets and income to achieve their stated goals, rather than distributing profits to owners or members.

These organizations are typically established by one or more natural or legal persons who contribute assets to the foundation. The foundation's governing body, often a council or board, is responsible for managing the assets and ensuring that the foundation's activities align with its founding purpose. Foundations are subject to Estonian law, including specific regulations governing their establishment, operation, and reporting requirements. They are often recognized for their role in supporting and developing various sectors of society by providing funding and resources for initiatives that might otherwise struggle to find financial support. The term "sihtasutustelt" encompasses the concept of a structured, purpose-driven organization dedicated to long-term societal benefit.