Subjects receiving support and funding from the Understanding the Heart Foundation in Vietnam

Subjects receiving support and funding from the Understanding the Heart Foundation in Vietnam (Internet image)

Regarding this issue, LawNet would like to answer as follows:

1. What is the Understanding the Heart Foundation?

Understanding the Heart Fund (hereinafter referred to as the Fund) is a non-profit charity fund, with the aim of overcoming incidents caused by natural disasters, fires, epidemics, and accidents, supporting patients with serious diseases (especially pediatric patients), supporting poor children, and supporting other disadvantaged groups in need of social support.

(Article 2 of the Charter issued together with Decision 437/QD-BNV in 2021)

2. Subjects receiving support and funding from the Understanding the Heart Foundation in Vietnam

According to Clause 1, Article 18 of the Charter issued together with Decision 437/QD-BNV in 2021, the beneficiaries of support and funding from the Understanding the Heart Foundation include:

- Patients with serious diseases, especially pediatric patients;

- Poor children, poor studious pupils and students, lonely elderly people, households with difficult circumstances, and other disadvantaged people who need social assistance;

- Victims and relatives of victims affected by natural disasters, fires, epidemics, and accidents.

- Charity programs at the request of donors in accordance with the law and the Fund Charter.

3. Rights and obligations of Understanding the Heart Foundation in Vietnam

3.1. Powers of the Understanding the Heart Foundation in Vietnam

The Understanding the Heart Foundation has the following powers:

- Organizing and operating in accordance with the law and the charter recognized by the Ministry of Home Affairs;

- Mobilizing donations and sponsoring the fund; receiving assets sponsored, donated, or donated by domestic and foreign individuals and organizations or in other forms in accordance with the fund's purposes and the provisions of law.

Organizing activities in accordance with the law to preserve and grow the fund's assets;

- Establishing a affiliated legal entity according to the provisions of law;

- Having the right to complain in accordance with the law;

- The Fund may coordinate with individuals and organizations to mobilize donations, mobilize funding for the fund, or implement specific schemes and projects of the fund in accordance with law;

- Coordinate with localities, organizations, and individuals in need of assistance to develop and implement funding projects according to the fund's operational purposes.

(Clause 1, Article 6 of the Charter issued together with Decision 437/QD-BNV in 2021)

3.2. Obligations of the Understanding the Heart Foundation in Vietnam

The Understanding the Heart Foundation is responsible for the following obligations:

- In any field that the Fund operates, it must be under the management of the State agency in charge of that industry or field and may only receive and mobilize funding within the scope of operation according to the fund's charter;

- Making the right sponsorship at the request of authorized individuals and organizations in accordance with the fund's purpose;

- Funds established from donated or donated assets or under authorization contracts or wills without organizing donations and receiving funding, must annually spend at least 5% of total assets to finance programs and projects suitable to the fund's operational purposes;

- Storing and being responsible for providing sufficient dossiers, vouchers, and documents on the fund's assets and finances, as well as resolutions and minutes on the fund's activities, to competent state agencies in accordance with law;

- Using assets and finances thriftily and effectively for the right purposes of the fund; paying taxes, fees, and charges; implementing accounting, auditing, and statistical regimes in accordance with law; registering for a tax identification number and declaring tax in accordance with the provisions of tax law;

- Being subject to inspection, examination, and supervision by state agencies, sponsoring organizations and individuals, and the community in accordance with the law. To be responsible for settling complaints and denunciations within the fund and to report settlement results to competent state agencies;

- Annually, the fund is responsible for publicizing the contributions in the mass media before March 31;

- When changing the head office or director of the fund, the fund must report in writing to the Ministry of Home Affairs, the Ministry of Labor, Invalids, and Social Affairs;

- Annually, the fund must report its organizational, operational, and financial situation to the Ministry of Home Affairs, the Ministry of Labor, Invalids, and Social Affairs, and the Ministry of Finance, and report to the People's Committee of the province where the fund is located before December 31;

- Implementing decisions of competent state agencies related to the organization and operation of the fund and other obligations in accordance with the law and the fund's charter.

(Clause 2, Article 6 of the Charter issued together with Decision 437/QD-BNV in 2021)

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