Board of Trustees:

The supervisory body of the Foundation is the Board of Trustees organized by the founder (s). Members of the Board of Trustees are elected by the founder (s) of the Foundation for a term of 3 (three) years. New members are admitted to the Board of Trustees of the Foundation only with the consent of all members of the Board. Controls the flow of funds to the fund. Controls the spending of the fund. Determines the general directions of the Fund’s activities. Approves the programs of the Foundation and controls their implementation. Elect and recall the President of the Foundation. Accepts reports from the President of the Foundation. Determines the auditor of the Fund and accepts his reports. Approves the estimate of the administration of the fund. Approves the published annual reports on the use of the Fund’s property. Approves the appointment and dismissal of the Chief Accountant of the Fund. Approves the appointment of directors and program coordinators of the Fund. Decides on the establishment of advisory and expert councils at the Foundation and the appointment of their members. Decides to open branches and representative offices of the Fund, approves their regulations. Decides on the establishment of economic societies of the Fund or the participation of the Fund in any economic society. In the interests of the Foundation, amendments and additions are made to the Charter in cases stipulated by the purposes of its Charter. Decides on the reorganization and liquidation of the Fund. The issues specified in clauses 6.2.15 and 6.2.16 of the Charter are accepted with the consent of more than 3/4 of the members of the Board of Trustees of the Foundation. Decisions on other issues are made with the consent of more than half of the members of the Foundation’s Board of Trustees. The work of the Board of Trustees of the Foundation is organized by the President of the Foundation. The decisions of the Board of Trustees of the Foundation must be announced to all its members. The decisions are signed by the Chairman of the Board of Trustees of the Foundation. Meetings of the Board of Trustees are held at least once a month. The President is appointed and dismissed by the Board of Trustees for a period of 3 (three) years. The president of the foundation can be the founder or other third party. The President can take any urgent action between meetings of the Board of Trustees or in exceptional cases when the Board cannot hold its meetings, but the President must report to the first meeting of the Board.

The President of the Foundation exercises the following powers:

Carries out general management of the Foundation’s activities and implementation of decisions of the Board of Trustees. Convene meetings of the Board of Trustees. Report to the Board of Trustees on the activities of the Foundation. Coordinate the work of the Foundation’s bodies. Represent the Foundation nationally and internationally. Perform any other functions assigned by the Board of Trustees. Listens regularly to the Executive Director’s report and make decisions on it. Manages the funds of the Foundation in agreement with the Board of Trustees. Hires and dismisses employees of the Foundation’s management. Concludes contracts on behalf of the Fund. Organizes the implementation of approved projects. Prepares estimates and reports on the expenditures of the Fund and submits them for approval to the Board of Trustees of the Fund. Prepares the budget and financial statements of the Fund. Appoints and dismisses the Executive Director of the Foundation. In case of temporary absence of the President, his replacement is appointed by the decision of the Board of Trustees. The President of the Fund can delegate the authority to sign documents to the Executive Director on the basis of an appropriate order and power of attorney.

The executive director performs the following functions:

The Board of Trustees and the President of the Foundation carry out the tasks assigned to him. Manages the personnel of the Foundation and is responsible for the execution of the work assigned to the personnel. Submits quarterly reports to the President on the work done by the Fund. Performs any other functions assigned to him by the President under the Charter. The Executive Director regularly informs the President about his work.