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Zhongyan Elderly Rehabilitation Foundation-Legislation
Administrative Measures for Special Funds of Shanghai Senior Citizens Foundation
Zhongyan Elderly Rehabilitation Foundation is a special fund under the administration and guidance of Shanghai Senior Citizens Foundation. The Administrative Measures for Special Funds of Shanghai Senior Citizens Foundation have been formulated to assure proper everyday management of and drive sustainable development of special funds.
  •   Article 1 Conditions for Special Funds

    Any entity that is to initiate a special fund must meet the following conditions:

      (I) Have passion for the elderly welfare cause. Have the initiative to carry forward the traditional filial morals and respect for the elderly, and the awareness to contribute to the elderly welfare cause and the experience of funding the charity.  

    (II) Have the ability to provide financial aid. The initial capital of a special fund must be no less than one million yuan (or an equivalent amount in foreign currencies); the special fund must keep running for a minimum of three years and one million yuan at least should be spent every year.

    (III) Have the resources required to organize charity activities. Have the experience in participating in and organizing charity activities; and have adequate human resources for this purpose.

  •   Article 2 Process

      Any entity that is to initiate a special fund must meet the following conditions:

      (I) It shall file an application in writing with Shanghai Senior Citizens Foundation.

      (II) Shanghai Senior Citizens Foundation discusses and considers the application and gives a reply.

      (III) The two parties negotiate and decide on the intention to initiate a special fund and the basic rules; and determine the name of the special fund.

     (IV) The two parties sign an Agreement on the Management of Special Funds of Shanghai Senior Citizens Foundation.

      (V) The donating entity is required to remit the initial capital for the proposed special fund to an account maintained by Shanghai Senior Citizens Foundation with a designated financial institution within ten working days after the Agreement is signed.

     (VI) After the capital is received, the Agreement comes into effect officially.

  •   Article 3 Operational Rules of Special Funds

     Any entity that is to initiate a special fund must meet the following conditions:

    (I) It shall file an application in writing with Shanghai Senior Citizens Foundation.

    (II) Shanghai Senior Citizens Foundation discusses and considers the application and gives a reply.

     (III) The two parties negotiate and decide on the intention to initiate a special fund and the basic rules; and determine the name of the special fund.

     (IV) The two parties sign an Agreement on the Management of Special Funds of Shanghai Senior Citizens Foundation.

     (V) The donating entity is required to remit the initial capital for the proposed special fund to an account maintained by Shanghai Senior Citizens Foundation with a designated financial institution within ten working days after the Agreement is signed.

     (VI) After the capital is received, the Agreement comes into effect officially.

  • Article 4 Governing Body of Special Funds

      (I) A special fund management committee comprised of leaders or representatives of the two parties will be formed to manage daily affairs of the special fund.  

      (II) A member of the donating entity will be appointed director of the management committee, while deputy directors and other members will come from each party; each party will appoint a contact to take charge of daily communications.

      (III) The management committee is responsible for assessment of projects, payment for expenses, organization of activities, preparation of work reports and maintenance of files, among other tasks.

     (IV) The management committee shall accept donation applications from qualified organizations, individuals or non-profit organizations and reply with results timely.

      (V) The management committee may raise funds from the public; all contributions received must be deposited into a designated account of Shanghai Senior Citizens Foundation.

  •  Article 5 Financial Management

     (I) The fund must be used in strict compliance with financial management rules and by following stated processes and procedures.

     (II) A special account is maintained for the special fund exclusively and be managed by a designated person. The fund must be used for the stated purpose only.

     (III) The following process applies to use of the special fund. A project proposal and budget signed by the management committee must be submitted to Shanghai Senior Citizens Foundation. A clerk of Shanghai Senior Citizens Foundation will give his opinion on payment from the special fund. A head of Shanghai Senior Citizens Foundation will sign the project proposal and budget and give payment instruction; the Finance of Shanghai Senior Citizens Foundation will make payment.

     (IV) The Finance in charge of the special fund should create a special account; and act on payment instructions given by Shanghai Senior Citizens Foundation in a timely manner.

    (V) The Finance of Shanghai Senior Citizens Foundation should submit a report on use of the special fund to the management committee at the end of June and December every year and be subject to inquiry and supervision.

  • Article 6 The Administrative Measures for Special Funds of Shanghai Senior Citizens Foundation were considered and adopted at the seventh Board meeting of the third Board and put into trial implementation for one year from March 2017.


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