Donor Advised Fund services in Hungary for individuals and companies.
We manage your donation budget according to a thoroughly devised strategy, transparent conditions and decision making process.
Fundus Program guarantees that donations are bound to the name, given by de donor, this way functioning as a memorial for the donor or his/her family member.
How?
Summa Artium handles the donation budget of the donor individual or company on a separate bank account as an offset fund. We make a recommendation for the donation strategy of the fund and present a feasibility study. Summa Artium will manage the full application-donation-monitoring-reporting process, so that the donor is only involved to the desired intent — if so wished, only in receiving gratitude and in sharing the joy of the accomplishment of the supported projects.
What is the difference between a foundation and a fund?
Contrary to the foundation (which is a separate organisation with legal entity) that the founder cannot withdraw, and classically is financed from the yield of its endowment, the fund (which does not have a separate legal entity and is part of an organization) is to regularly receive and spend its budget according to its operational rules.
To sum up: Fundus Program enables donors to easily run a donation scheme bound to its own name and character but without the administrative hassle and long time commitment of a foundation. It is especially useful for a defined timespan donation activity, but it can also be run for decades, or can be regularly restated, as long as the donor wishes.
Donor Advised Funds operate in several countries in Western Europe and the US, perhaps the most known is the Prins Bernhard Cultuurfonds in the Netherlands, that runs more than 400 funds currently. Summa Artium’s mission is to raise private funding for the arts in Hungary. With adopting the donor advised fund scheme, we aim at serving this goal.
