A board has to be established according to §7 of the statute. The size and responsibilities of the board are defined as followed:
1. The board consists of at least three and maximum five members. The founders are members by creation of the foundation. The founders can appoint further board members.
2. The term of the founders is unlimited, two years for appointed members
3. The founders can appoint successors once they retire. If the founders are no longer active in the board, the board will be extended by cooptation. In case neither the founders nor appointed successors respectively coopted members are constituting the board, i.e. the board is de facto unstaffed and will be dissolved without substitution.
4. The members of the board are acting on a voluntary basis. They are not allowed to take any pecuniary advantage (this is illegal). They are entitled to get compensation of necessary expenses.
§8 of the statute defines the meetings, tasks and decisions of the board. The most important task of the board is the following:
“The board decides about the allocation of the foundation fund as well as the matters regulated in the statute.”
§9 of the statute regulates the establishment of a control committee. This committee has in particular the task to control the trustee / entity (in our case the DS Deutsche Stiftungsagentur).
The statute allows in general the setup of additional committees (e.g. an advisory board). This will be discussed in the board at the appropriate time. In the initial years we will put all our efforts into the generation of the projects and the financial basis.