Establishing a Swiss foundation is an act whereby a founder irrevocably commits funds to a separate legal entity in order to achieve a specific purpose which can be of a charitable nature. The governing body of a Swiss foundation is the Foundation Board, which has the ultimate responsibility for organizing and supervising the foundation’s activities in compliance with its purpose clause.
The concept of an umbrella foundations liberates the donor form all administrative tasks related to the handling of a Swiss foundation (like accounting, auditing, reporting to tax, supervisory and other authorities etc.) which are taken over by the Board of Ceres. The donor has thus the freedom to concentrate on the charitable activity he has chosen, while benefitting from the supervisory regime and charitable tax exemption of a standalone foundation. Ceres has the ability to help him select, supervise and audit his charitable projects either directly or via its vast network of advisors.