Foundation purpose and structure: Excerpts from the foundation statutes
The following excerpts from the foundation's statutes provide an overview of the purpose, administration and organisation of the Adalbert-Raps-Stiftung:
§ 2 Purpose of the Foundation
(1) The Foundation shall selflessly pursue exclusively and directly charitable and benevolent purposes within the meaning of the tax regulations by granting donations
a) to charitable institutions of the Catholic Church and other tax-privileged institutions which have as their objective the care and support of elderly people who are dependent on the help of others and generally ill, disabled or socially disadvantaged young people,
b) to tax-privileged institutions for the promotion of research in the field of the food industry.
The purpose of the foundation mentioned under letter a) shall be fulfilled with priority.
(2)
The Foundation may not pursue any economic purposes of its own. It may not favour any person with expenses which are alien to the purpose of the Foundation or by disproportionately high support, donations or remuneration. However, it may use parts of its income, but not more than 25 per cent, to honour the memory of the founder in an appropriate manner and to maintain his gravesite.
§ 5 Foundation Bodies and Administration
(1) The Foundation shall be administered and represented by a Board of Directors. It consists of three members who are appointed for a period of five years by the shareholders of the company RAPS GmbH & Co. KG with its registered office in Kulmbach. The shareholders of RAPS GmbH & Co. KG are also entitled to dismiss members before the end of the period for which they are appointed. The quorum of the shareholders' meeting and the voting weight of the shareholders shall be governed by the respective valid articles of association of RAPS GmbH & Co. KG. Appointments and, if necessary, dismissals shall be made by simple majority; in the event of a tie, the proposal shall be deemed rejected.
§ 6 Meeting of the Executive Board
(1) The Board shall meet as required, but at least twice a year. (...)
(3) The Board has a quorum if all members are invited and at least two members are present. (...)
(4) Resolutions shall be passed by simple majority; in the event of a tie, the Chairman of the Board shall have the casting vote. (...)
