Policy Plan

 

The policy of the Stichting Vivia Foundation is aimed at achieving its objective in particular by following the activities of its charter.

Vivia Foundation is a non-profit institution for the public benefit, as is apparent from the foundation statutes from the Stichting Vivia Foundation Deed of Incorporation and from the actual work guided by its charter which is planned and implemented by the foundation.

 

Activities and Work by the Foundation

The disposition of the Stichting Vivia Foundation’s assets is made in accordance with its Objective.

The Foundation shall perform the following activities of its charter by, among others to fund programs, initiatives, or projects in the field of the objectives set out to promote innovation and the improvement of food, health, and social wellbeing, and all activities that are connected with or that may be conducive to the above for the public benefit, and all this in the broadest sense.

As stated in the objective in Article 3.2 of the Deed of Incorporation, the Stichting Vivia Foundation will give financial contributions to other charities, businesses, organizations, foundations, events and/or experts with similar or complementary objectives as the foundation’s objectives or help realize the Foundation’s objectives; and by carefully managing its capital, in such way to sustain and guarantee the earnings and investments of the foundation in order to be able to realize its objectives.

The Foundation will not undertake research nor develop patents itself, nor is the Foundation a provider of management services to research funds. The Foundation may establish Named Funds (fonds op naam) for the purpose of properly administering its public benefit activities, and for the purpose of specifying how donations should be used.

 

Fundraising: Recruitment and Management of Funds

The Foundation raises funds for the benefit of its objective through the fundraising activities. The manner in which the Foundation raises funds will be obtained through donations, awards, gifts, cost reimbursements, or grants; other income may be received through subsidies, bequests, testamentary dispositions; and all other income accruing to it from its investments or otherwise.

 

Capacity of the Foundation 

Income received will be administered as follows:

The Stichting Vivia Foundation does not hold more capital than is reasonably necessary for the continuity of the planned work in favor of the objective of the Foundation.

The revenue will be managed and controlled by the Board of the Foundation in accordance with its charter. The related costs of the Foundation should be in reasonable proportion to achieve the best outcomes for the benefit of the objectives of the Foundation and the objectives of its related work programs or projects.

The Stichting Vivia Foundation is committed that the administration costs should not exceed 10% of its funds raised or granted. The work of the Stichting Vivia Foundation is in the public interest.

Assets may be given to other individuals, organizations, businesses, institutions, foundations, and entities who act in the interest of the foundation and its charter, and/or a charitable interest and has similar objectives. This includes projects, initiatives, and programs that may help advance or provide direct benefit or value to promote innovation and the improvement of food, health, and social wellbeing, and all activities that are connected with or that may be conducive to the above for the public benefit and all this in the broadest sense.

The foundation has reserved the rights and control for the acquisition of assets as a part of its fundraising activities.

The foundation has reserved the rights and control to carry out and perform the work and responsibilities of the foundation.

The foundation will control the spending limits imposed by the donor(s), and/or described for funded projects and/ or programs.

 

Spending Policy

Description of the Foundation’s assets and disbursement policy:

The Stichting Vivia Foundation pays the revenues obtained in accordance with the objective of its projects.  Foundation projects may be in the short, medium, and long-term if necessary, ranging from a few days or weeks to multiple-year initiatives.

Projects rendered by the Foundation could be solely managed and/or include projects of a collaborative nature, with other companies, organizations, groups agencies, and individuals. Activities and initiatives of the Foundation promote innovation and the improvement of food, health, and social wellbeing, and all activities that are connected with or that may be conducive to the above, for the public benefit, and all this in the broadest sense, according to the objective of the Foundation.

The Foundation may distribute assets by grants, gifts, and/or payment against invoices, and/or by documented disbursements.

The Foundation shall not hold more capital than is reasonably necessary for the anticipated goals of the Foundation and to maintain the continuity of the work for the purpose of the objectives of the Foundation. The cost of raising money and management must be in reasonable proportions to the expenditure for the purpose of the objectives of the foundation.

Board members shall not receive any remuneration. They may be entitled to reimbursement of costs incurred in the performance of their duties, if not excessive.

 

Management of the Foundation

Pursuant to the Institution’s Deed of Incorporation and its actual activities, no individual person or legal entity shall have decisive control within the Institution. Thus no individual person or legal entity can dispose of the Institution’s assets as if they were their own.

On the basis of Article 8 of the statutes of the Foundation (provision regarding the decision-making by the executive board) and its actual efficacy has no person with decisive influence within the Foundation.

Description of the division of tasks and internal directors’ relations within the board:

The Board shall elect a chairperson, a secretary, and a treasurer from among its midst or in the place of the latter two, a secretary-treasurer. Legal entities cannot be appointed as a board member. The Board of the foundation consists of two (2) managing directors at the incorporation of the Foundation. A third Board member will be appointed. The Board has the rights and obligations as determined in the Stichting Vivia Foundation Articles of Association.

 

Administration and Oversight

The administration of the Stichting Vivia Foundation, the preparation of the annual accounts, and the accounting oversight has been managed by Local Corporate Management, Amsterdam, NL through September 2021.  The accounting oversight is currently managed by Slob Financiële Dienstverlening, Hoornaar, NL. The charter for the Vivia Foundation has been established by Holland Van Gijzen Advocaten en Notarissen. Allen & Overy is involved as the tax adviser of the Foundation.

 

Remuneration Policy

The Stichting Vivia Foundation does not have employees. In accordance with article 5.5 of its Deed of Incorporation, board members shall not receive any remuneration. They may be entitled to reimbursement of costs incurred in the performance of their duties, if not excessive. The expenses incurred in the context of the exercise of the governance function shall be reimbursed provided that they are not excessive.

 

Deed of Incorporation

The Deed of Incorporation of the Vivia Foundation has been established by HVG Advocaten en Notarissen LLP Holland Van Gijzen Advocaten. Capital with a spending restriction will not be mixed with the Foundation’s other capital and such assets will be placed in separate or designated accounts. Any balance after settlement should be paid in accordance with the objective of the Stichting Vivia Foundation in favor of another foundation with a similar objective or of a foreign institution that has the same general interest and which seeks a similar objective.

 

Financial Reports

Financial documents may be requested if required, by contacting the Vivia Foundation administrative officers in the Netherlands: info@viviafoundation.org.

Vivia Foundation has posted its 2022, 2021, 2020, 2019, and 2018 Annual Reports.