Anthere wrote:
Section 1. POWERS. The powers of the corporation
shall be exercised,
its properties controlled, and its affairs conducted by a Board of
Trustees to be comprised initially of five trustees. All trustees
must be active (contributing or volunteer) or life members of the
Foundation.
What is the difference between a corporation and a foundation ?
"Corporation" is a broader term that includes "foundation". More
generally incorporation is what gives an organization the legal
status to be treated as a person. There is some variation in the use
of the term "foundation" in various jurisdictions. Here it seems to
be used in the sense of a general non-profit corporation that is
doing good for the benefit of the community. In other places the use
of the term "foundation" is restricted to those organizations whose
primary function is the distribution of funds for charitable
purposes, often as the result of a large bequest.
Okay. So, I presume we can safely translate it as "association"
everywhere