The Statutes of the Foundation
The Name of the Foundation
- The Foundation is known as: Fundacja Sw. Jana Kantego w Krakowie. (Saint John Cantius Fundation in Krakow) The Foundation is a Roman Catholic charitable institution that is governed, independently of the Roman Catholic diocesan structure, by the rules of the said Foundation´s laws.
The Seat of the Foundation
- The Foundation is located in Krakow, Poland.
The Assets of the Foundation
- The assets of the Foundation are accumulated through donations of the founders, donations of other persons and legal entities, and also by the funds and goods obtained through dispositions of wills, endowments, subventions, subsidies and income from its own assets.In accepting donations the Foundation uses the Christian system of values by ascertaining their source.
- Up to 75% of the annual Foundation´s income shall be designated for full scholarships and other means to assist the recipients of scholarships. 20% of annual income shall be designated for the Foundation´s Perpetual Capital Fund (50% of the annual interest income of the PCF shall remain in the Perpetual Capital Fund, and 50% shall be allocated for scholarships and other means of assistance) and the remaining 5% shall be designated for funding the cost of annual operation expenses.
The Mission of the Foundation
- The Mission of the Foundation is to assist talented Roman Catholic youth who do not have the necessary financial means to pursue higher education. The recipient is to be enrolled in the specified educational disciplines as directed by the Foundation´s regulations and must be participating in a formation program developing the recipient´s Christian Catholic character.
The Parameters and Scope of Activities of the Foundation
- The Foundation Scope of Activities include:
- Conferring scholarships
- Offering financial assistance for: purchase of textbooks and other educational resources, payment of tuition and fees, room and board and other education related expenses
- Organizing student dormitories, organizing preparatory courses for university studies, organizing language courses and other schooling to improve the qualifications of the student recipients
- Offering contests on specific themes
- Offering retreats and other formation meetings
- The Foundation is active in Poland and other countries to form well-educated Catholics who base their lives on Christian values and are guided in their modern, intellectual formation by deep faith as is expressed in Pope John Paul II´s Encyclical "Fides et Ratio"
- The initial fund for the operation of The Foundation and its goals and economic activities is set in the amount of 10,000 zloty.
- The Foundation may extend the title of "honorary member" to persons of merit for their activity on behalf of the Foundation.
The Board of Directors of the Foundation
- The leadership of the Foundation is the Board of Directors that consists of no more than 13 members including the President.
- The members of the Board are elected, and their number is set, by the members of the Foundation by a vote of at least a three-fourths majority of those who have the right to vote.
11a. In case of a position vacancy, the replacement member of the Board shall be chosen by a simple majority of votes cast by the founders and the other members of the Board. In case of a founder´s death, his/her position may be taken by a competent adult heir, or person previously designated by the founder, who will continue the mission of the Foundation.
- The Board of Directors shall be composed of at least the president, the secretary, and the treasurer.
- The President of the Board shall always be an ordained priest.
- The Board´s resolutions are passed by simple majority votes in the presence of at least half of the statutory members of the Board. In case of a tie vote, the President shall cast the deciding vote.
- The Board of Directors pursues its functions voluntarily. It may vote to amend this clause should it become necessary due to the scope of work and the accessibility of financial resources to remunerate for services rendered. In such case, the remuneration of any such person together with all operating costs are not to exceed 5% of the annual budget.
- The Board shall direct the Foundation´s current work.
- The Foundation is represented by the President or the Vice President and any financial commitments require two signatures; that of the President or the Vice President, and the Treasurer.
- The term of office of the Foundation´s Board of Directors is five years.
- The mode of the Board´s work shall be specified by the statutes as set by the Board of Directors.
19a. The Audit Commission shall control the Foundation´s work and shall be composed of the President and two other members. Its scope of work shall be:
- Ratifying the work statutes of the Commission
- Auditing the Foundation´s general economic activities at least twice per year and presenting the audit report to the Board.
19b. The Audit Commission members shall work independently of the Board and shall not simultaneously be members of the Board. They shall not be related to any of the Board members or be subordinate to any of them. Audit Commission members shall be persons who have never been penalized by a final verdict of the court for a deliberately committed crime. Members of the Audit Commission shall have no other income from serving in this position other than that which the public services´ law allows.
Changing the Statutes or their abolition
- A change of the Statutes may pass by a majority vote of three-fourths of the Founders.
- The abolition of the Foundation may occur if such resolution passes by the majority vote of three-fourths of the Founders. In such case the remaining assets of the Foundation shall be distributed, as directed by the Founders to orphanages operated by the Roman Catholic Church.